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 15 of 88

  • A. over scarce resources
  • B. within aggregates
  • C. because we must fulfill several demanding roles simultaneously
  • D. all of the above

Explanation: Role conflict arises when the demands of two or more roles must be met at the same time and cannot easily be reconciled.

Correct answer: because we must fulfill several demanding roles simultaneously
  • A. Norms
  • B. Concepts
  • C. Statuses
  • D. Roles

Explanation: Social structure is built from statuses, roles, and norms that organize social relationships.

Correct answer: Concepts
  • A. may create much stress
  • B. sometimes occurs by chance
  • C. could mean that another role is being performed well
  • D. all of the above

Explanation: Faulty role performance can result from chance, create stress, and occur while another role is being performed successfully.

Correct answer: all of the above
  • A. she has a different reference group than her social class would indicate
  • B. her father has special connections to the boss
  • C. the daughter likes to daydream
  • D. she has been reading too many yuppie biographies

Explanation: Her ambition suggests that she compares herself with a group above her inherited social position and may identify with it as an…

Correct answer: she has a different reference group than her social class would indicate
  • A. subcultures that refuse to assimilate
  • B. groups whose values differ from the mainstream
  • C. groups whose values are in explicit opposition to those of the wider societal culture
  • D. the most active subcultures

Explanation: A counterculture does more than differ from the mainstream: it explicitly challenges or rejects important values of the wider society.

Correct answer: groups whose values are in explicit opposition to those of the wider societal culture
  • A. the MTV generation
  • B. vegetarians
  • C. monks in a convent
  • D. players of chess

Explanation: The MTV generation represents a temporary, age-linked subculture that may fade as its members and cultural influences change.

Correct answer: the MTV generation
  • A. pivotal institution
  • B. cultural universals
  • C. culture traits
  • D. culture complexes

Explanation: Cultural universals are practices or features found in every known culture, such as language, family organization, and rules governing…

Correct answer: cultural universals
  • A. use statistical norms
  • B. refer to the ideal norms
  • C. speak of mores
  • D. use folkways

Explanation: Statistical norms describe the behavior people actually display, whereas ideal norms describe how they are expected to behave.

Correct answer: use statistical norms
  • A. cultural
  • B. social
  • C. intelligent
  • D. symbolic

Explanation: Humans are social because they depend on interaction and cooperation with others and normally live in organized groups.

Correct answer: social
  • A. culture shapes both verbal and nonverbal behavior
  • B. personal space is controlled genetically
  • C. many people have no manners
  • D. nonverbal behavior is not part of culture

Explanation: Different rules about acceptable personal distance show that culture shapes nonverbal behavior as well as speech.

Correct answer: culture shapes both verbal and nonverbal behavior
  • A. includes knowledge beliefs and technology
  • B. is made up of rules for behavior
  • C. consists of values and morals
  • D. is part of material culture

Explanation: The cognitive component consists of what people know and believe, including the knowledge used to create and apply technology.

Correct answer: includes knowledge beliefs and technology
  • A. cooperation
  • B. group activities
  • C. a warning system
  • D. language

Explanation: Language is essential because it allows people to communicate, preserve knowledge, and transmit culture across generations.

Correct answer: language
  • A. symbolic interaction
  • B. a system of symbols
  • C. biology and instinct
  • D. animal culture

Explanation: Most animal behavior is largely inherited and instinctive, unlike human behavior, which is strongly shaped by learning and symbols.

Correct answer: biology and instinct
  • A. ethnocentrism
  • B. cultural relativity
  • C. the truth
  • D. a value

Explanation: Calling one’s own society’s music the best reflects ethnocentrism, the tendency to judge other cultures by the standards of one’s own…

Correct answer: ethnocentrism
  • A. unimportant
  • B. found among all animals
  • C. traditional habits centering around fundamental human needs
  • D. places like schools and banks

Explanation: A social institution is an established pattern of behavior or organization built around basic needs such as education, family, religion…

Correct answer: traditional habits centering around fundamental human needs
  • A. the overt culture is consistent
  • B. Americans often follow a covert culture in actual behavior
  • C. there is no covert culture in the United States
  • D. people are only human

Explanation: The stated ideal of honesty is part of overt or ideal culture, while cheating on taxes reveals the covert norms followed in actual…

Correct answer: Americans often follow a covert culture in actual behavior
  • A. positive sanctions
  • B. negative sanctions
  • C. harsh rules
  • D. violence

Explanation: Positive sanctions, such as praise, rewards, or approval, encourage people to follow social expectations without force.

Correct answer: positive sanctions
  • A. making money
  • B. marrying sister
  • C. gambling
  • D. climbing Mt Rushmore

Explanation: A taboo is a strongly prohibited act that a society treats as deeply unacceptable.

Correct answer: marrying sister
  • A. Norms
  • B. folkways
  • C. values
  • D. mores

Explanation: Values are broad cultural ideals about what is desirable or important, such as money, peace, and belief in God.

Correct answer: values
  • A. internalized in most cases
  • B. guidelines for human behavior
  • C. reflections of values
  • D. all of the above

Explanation: Norms are learned guidelines for behavior, usually reflecting a society’s values and becoming internalized through socialization.

Correct answer: all of the above