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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261. Another way of saying that position in a group are value-rated by group members is_______________?
- A. statuses are ascribed
- B. authority is hierarchical
- C. statuses are ranked
- D. roles are scripted
Explanation: When group members evaluate positions as higher or lower in prestige, they are ranking statuses.
Correct answer: statuses are ranked- A. rules and regulations
- B. group situations and the positions of individuals
- C. patterns of actions
- D. all of the above
Explanation: Social life is structured through formal rules, recurring patterns of action, and the positions people occupy in groups.
Correct answer: all of the above- A. explicit standards of quality control must be imposed by management
- B. employees are given too much discretion
- C. small organization inevitably become bureaucracies
- D. vertical hierarchies of power are too sluggish
Explanation: A major criticism of bureaucracy is that its vertical chain of authority makes decisions slow and inflexible.
Correct answer: vertical hierarchies of power are too sluggish- A. the military prisons and mental hospitals
- B. businesses and industries of all types
- C. professional and religious organizations
- D. all of the above
Explanation: Utilitarian organizations offer tangible rewards, especially wages or salaries, in exchange for participation, so businesses and…
Correct answer: businesses and industries of all types- A. agrarian
- B. pastoral
- C. hunting and gathering
- D. horticultural
Explanation: Hunting-and-gathering societies were the earliest and least technologically complex societies.
Correct answer: hunting and gathering- A. excludes written language
- B. is entirely nonverbal
- C. includes gestures speech and music
- D. none of the above
Explanation: Symbolic interaction uses meanings communicated through language and other symbols, including gestures, speech, and music.
Correct answer: includes gestures speech and music- A. conflict
- B. competition
- C. cooperation
- D. none of the above
Explanation: Cooperation enables people to coordinate activities and achieve shared goals, making it a central process of social interaction.
Correct answer: cooperation- A. processes of social interaction
- B. diseases that harm societies
- C. problems of cement roads
- D. none of the above
Explanation: At the microsocial level, society is examined through everyday interactions and the processes connecting individuals.
Correct answer: processes of social interaction- A. kinship
- B. primary ties
- C. machines for production
- D. smokestacks
Explanation: Industrial societies depend on machines and mechanized production as the foundation of their economy.
Correct answer: machines for production- A. reference group
- B. membership group
- C. voluntary group
- D. all of the above
Explanation: A group to which a person actually belongs is a membership group, regardless of the group’s particular activity.
Correct answer: membership group- A. the primary group is always helpful to the individual
- B. primary group relations can be harmful to the individual
- C. secondary relations are more important than primary ones
- D. none of the above are relevant
Explanation: Primary groups such as families can strongly influence well-being, but close relationships are not always beneficial and may also cause…
Correct answer: primary group relations can be harmful to the individual- A. small size
- B. daily contact
- C. intimacy
- D. formal interaction
Explanation: Secondary groups are usually larger and less personal, with relationships organized around a purpose or institution.
Correct answer: formal interaction- A. triad
- B. quadrad
- C. dyad
- D. monad
Explanation: A dyad consists of two people and is the smallest possible social group.
Correct answer: dyad- A. fear of a divorce
- B. role conflict
- C. no role involvement
- D. a master status
Explanation: The officer must act according to the duties of a police officer while dealing with her husband in his family role, creating incompatible…
Correct answer: role conflict- A. ancient Egypt
- B. 19th century India
- C. feudal Europe
- D. none of the above
Explanation: Achieved status is earned through effort or choice and is especially prominent in modern, merit-based societies.
Correct answer: none of the above- A. division of labor
- B. age
- C. gender
- D. all of the above
Explanation: Social statuses may arise from the division of labor and may also be assigned on the basis of age or gender.
Correct answer: all of the above- A. status
- B. role
- C. macrolevel behavior
- D. unliberated women
Explanation: Preparing lunch is an activity performed in the position of mother and reflects the expected behavior attached to that position.
Correct answer: role- A. biological cell patterns
- B. norms roles and group in a social system
- C. patterns of individual behavior
- D. what the individual becomes in society
Explanation: Social structure is the organized framework of norms, roles, groups, and institutions that shapes social life.
Correct answer: norms roles and group in a social system- A. division of labor
- B. status fulfillment
- C. ascribed status
- D. status specialization
Explanation: When different individuals specialize in particular tasks, production is organized through division of labor.
Correct answer: division of labor- A. commuters riding a train
- B. spectators watching the construction of a building
- C. lines of people at a supermarket checkout counter
- D. softball players performing in a playoff tournament
Explanation: A group involves people who interact and share a common identity or purpose.
Correct answer: softball players performing in a playoff tournament