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 13 of 88

  • A. infancy childhood adolescence and adulthood
  • B. early childhood plays concrete operational and formal operational
  • C. sensimotor pre-operational intuitive operational and concrete operational
  • D. sensorimotor intuitive operational concrete operational and formal operational

Explanation: Piaget’s sequence is sensorimotor, pre-operational, concrete operational and formal operational.

Correct answer: sensorimotor intuitive operational concrete operational and formal operational
  • A. protect the superego
  • B. deceive sexual targets
  • C. ward off sexual advances
  • D. deflect anxiety

Explanation: In psychoanalytic theory, defense mechanisms reduce or deflect anxiety by protecting the person from distressing thoughts or conflicts.

Correct answer: deflect anxiety
  • A. within the ld
  • B. within family relations
  • C. in the genital stage
  • D. all of the above

Explanation: Freud associated libido, the energy of the life instincts, primarily with the id.

Correct answer: within the ld
  • A. religion
  • B. the family
  • C. the economy
  • D. education

Explanation: Freud viewed the family as the crucial setting in which the child develops through identification, conflict and the formation of the id…

Correct answer: the family
  • A. an innate human response to deprivation and frustration
  • B. a definite sharply defined emotion
  • C. subject to manipulation
  • D. all of the above

Explanation: Anger can arise innately from frustration or deprivation, has recognizable emotional features, and can be influenced or manipulated by…

Correct answer: all of the above
  • A. instinctual development
  • B. development of higher learning functions
  • C. biological drives
  • D. aggressive behavior

Explanation: Infants need bodily contact and sensory stimulation for neurological and cognitive growth.

Correct answer: development of higher learning functions
  • A. every adult experience cycle back to childhood
  • B. personality affects roles and vice-versa
  • C. all feelings revolve around the self
  • D. all experience is based on preconceptions

Explanation: Personality and social roles influence one another: personality affects the roles a person adopts, while repeated roles also shape…

Correct answer: personality affects roles and vice-versa
  • A. rapidly became shepherds
  • B. their formerly outgoing personalities changed
  • C. became savage warriors
  • D. became outgoing accomplished entrepreneurs

Explanation: The Ik of Uganda were described as losing the social conditions that supported their former cooperative and outgoing behavior, after which…

Correct answer: their formerly outgoing personalities changed
  • A. development
  • B. stressing self-concept and self-actualization
  • C. psychoanalytic
  • D. environmental determinism

Explanation: Maslow and Rogers belong to the humanistic approach, which emphasizes self-concept, personal growth, and self-actualization.

Correct answer: stressing self-concept and self-actualization
  • A. To teach infants to sit stand walk and run in that order
  • B. To teach infants the fundamentals of life in society
  • C. To instill societal aspirations
  • D. To transmit skills important in the society

Explanation: Socialization teaches cultural rules, aspirations, and socially useful skills, but learning to sit, stand, walk, and run is primarily…

Correct answer: To teach infants to sit stand walk and run in that order
  • A. separate items of personality
  • B. behavior as whole
  • C. instincts
  • D. physical appearance

Explanation: Gestalt psychology emphasizes the organized whole rather than isolated elements, summed up by the principle that the whole is more than…

Correct answer: behavior as whole
  • A. l
  • B. me
  • C. generalized other
  • D. libido

Explanation: Mead’s generalized other represents society’s internalized rules and expectations, much as Freud’s superego represents internalized moral…

Correct answer: generalized other
  • A. primary institution
  • B. secondary institution
  • C. total institution
  • D. tertiary socialization

Explanation: A prison is a total institution because it controls nearly every aspect of inmates’ daily lives within one setting, including residence…

Correct answer: total institution
  • A. differentiation stratification conflict and coercion
  • B. accommodation assimilation conflict and coercion
  • C. exchange reciprocity competition and conflict
  • D. conflict exchange cooperation and competition

Explanation: The four primary social processes are commonly identified as conflict, exchange, cooperation, and competition.

Correct answer: conflict exchange cooperation and competition
  • A. technological
  • B. informational
  • C. post-subsistence
  • D. postindustrial

Explanation: Daniel Bell used the term postindustrial society for a society in which services, information, and knowledge replace manufacturing as the…

Correct answer: postindustrial
  • A. hunting and gathering to pastoral society
  • B. pastoral to horticultural society
  • C. horticultural to agricultural society
  • D. agricultural to industrial society

Explanation: The shift from horticultural to agricultural societies produced larger settlements, surplus production, administrative structures, and…

Correct answer: horticultural to agricultural society
  • A. voluntary group
  • B. reference group
  • C. membership
  • D. Gesellschaft

Explanation: A family is a primary group because its relationships are close and personal, and it is also a membership group because a person actually…

Correct answer: membership
  • A. politics
  • B. law
  • C. personality
  • D. social change

Explanation: Primary groups such as the family provide early emotional interaction, language, norms, and social learning, all of which shape…

Correct answer: personality
  • A. the N.A.A.C.P
  • B. the N.R.A
  • C. sharpshooters at a pistol range
  • D. all the redheads currently imprisoned in the U.S

Explanation: A social category consists of people who share a common characteristic without necessarily interacting or organizing together.

Correct answer: all the redheads currently imprisoned in the U.S
  • A. estate systems in feudal Europe
  • B. industrial societies like the United States
  • C. occupationally-based caste systems as in pre-modern India
  • D. A and C only

Explanation: Feudal estates and caste systems rely heavily on ascribed status, which is assigned by birth rather than earned through achievement.

Correct answer: A and C only