Free Microeconomics MCQs with Answers

1,742 Microeconomics MCQs from Economics, each with the correct answer and a written explanation of why it is correct. Free and unlimited, with no account needed.

Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.

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1,742 questions · page 12 of 88

  • A. time place and quantity of production
  • B. assessment collection and counting of taxes
  • C. measurement of land water and minerals
  • D. production distribution and consumption of goods and services

Explanation: Every economy must decide what and how much to produce, how to distribute output, and how goods and services will be consumed.

Correct answer: production distribution and consumption of goods and services
  • A. Fertile land
  • B. Wheat and com
  • C. Food shelter and protective coverings
  • D. Sufficient males to mate with all the females

Explanation: Food, shelter, and clothing or other protective coverings are limited relative to human needs in every society, making them scarce…

Correct answer: Food shelter and protective coverings
  • A. correlational
  • B. descriptive
  • C. inferential
  • D. longitudinal

Explanation: Inferential statistics use sample data to estimate, test or generalize conclusions about a wider population.

Correct answer: inferential
  • A. It is the American way
  • B. Greed makes the world go around
  • C. keeping up with the Joneses leads to success
  • D. None of the above

Explanation: Private property is generally defended because secure ownership creates incentives to use resources efficiently, invest and maintain them…

Correct answer: None of the above
  • A. simplified world views
  • B. complex explanations of the world
  • C. rejecting action
  • D. none of the above

Explanation: An ideology is a simplified worldview that helps people interpret society and guide their actions.

Correct answer: simplified world views
  • A. a set of ideas values and attitudes
  • B. a testable theory
  • C. always based on religion
  • D. none of the above

Explanation: An ideology combines ideas, values, and attitudes into a framework for understanding society and politics.

Correct answer: a set of ideas values and attitudes
  • A. today's deviant is tomorrow's leader
  • B. deviant acts invariably point to outdated rules
  • C. deviance is a fad
  • D. some actions initially defined as deviant eventually become generally accepted

Explanation: Some behaviour first condemned as deviant later becomes accepted as social standards change.

Correct answer: some actions initially defined as deviant eventually become generally accepted
  • A. the place time and circumstances
  • B. the social status of the person committing the act
  • C. the social status of those judging the act
  • D. all of the above

Explanation: Deviance is relative: an act may be judged differently depending on its setting, time, the actor's status, and the status or viewpoint of…

Correct answer: all of the above
  • A. anomie theory
  • B. differential association theory
  • C. deviant personality theory
  • D. focal concerns theory

Explanation: Merton's anomie theory argues that societies promote cultural goals but distribute legitimate means unevenly, so some people cannot attain…

Correct answer: anomie theory
  • A. set examples for others thus reaffirming existing norms
  • B. are invented by society to promote group cohesion
  • C. hinder group cohesion by disrupting stability
  • D. prevent social change from occurring

Explanation: Deviants can act as negative examples, reminding group members where the boundaries of acceptable conduct lie and thereby reinforcing…

Correct answer: set examples for others thus reaffirming existing norms
  • A. the ability to control impulses
  • B. leadership abilities
  • C. sociability
  • D. all of the above

Explanation: Research on heredity suggests that genetic factors may influence impulse control, sociability, and some leadership-related traits…

Correct answer: all of the above
  • A. genetic inheritance
  • B. being labeled as deviant
  • C. close association with deviants
  • D. all of the above

Explanation: Cultural transmission theory treats deviance as learned behaviour passed through interaction, especially close association with people who…

Correct answer: close association with deviants
  • A. gang norms are substituted for society's norms in some cases
  • B. gangs are useful for society
  • C. gangs have no norms
  • D. none of the above

Explanation: Delinquent gangs often develop their own standards, and in some cases these gang norms replace or conflict with wider social norms.

Correct answer: gang norms are substituted for society's norms in some cases
  • A. manslaughter
  • B. robbery
  • C. moving traffic violation
  • D. aggravated assault

Explanation: The FBI index crimes include homicide, robbery, and aggravated assault, among other serious offences.

Correct answer: moving traffic violation
  • A. another name for split personality
  • B. a term meaning "to hallucinate"
  • C. applied to a number of disturbances for lack of any other label
  • D. a psychosomatic disorder

Explanation: Schizophrenia is a broad psychiatric diagnosis historically used for a group of disturbances involving thought, perception and behaviour.

Correct answer: applied to a number of disturbances for lack of any other label
  • A. Lombroso,s criminal types
  • B. Sheldon,s mesomorphs
  • C. the extra Y chromosome
  • D. all of the above

Explanation: Lombroso’s criminal types, Sheldon’s body-type theory and the extra-Y-chromosome hypothesis are all biological attempts to explain…

Correct answer: all of the above
  • A. in the same way everywhere
  • B. in some cultures, as nonexistent
  • C. in the context of time and place
  • D. as another world for crime

Explanation: Deviance is not an identical behaviour everywhere because social norms vary across cultures and historical periods.

Correct answer: in the context of time and place
  • A. going in the wrong direction
  • B. bad manners
  • C. departure from social norms
  • D. reversing one,s opinion

Explanation: In sociology, deviance means violating or departing from accepted social norms.

Correct answer: departure from social norms
  • A. has a cultural basis
  • B. has a biological basis
  • C. depends on how wanted the infant is
  • D. none of the above

Explanation: Research indicates that mother-infant bonding has a biological basis, including innate attachment processes that support care and…

Correct answer: has a biological basis
  • A. conventional post conventional and legal-rational
  • B. pre-conventional authoritarian and post-conventional
  • C. pre-conventional conventional and post-conventional
  • D. charismatic traditional and legal-rational

Explanation: Kohlberg arranged moral reasoning into pre-conventional, conventional and post-conventional levels.

Correct answer: pre-conventional conventional and post-conventional