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.

Last updated

1,742 questions · page 24 of 88

  • A. rebel against group norms
  • B. accept group norms
  • C. respond only to negative sanctions
  • D. respond only to violence

Explanation: People generally accept and follow group norms because socialization and sanctions encourage conformity.

Correct answer: accept group norms
  • A. values norms and beliefs are always in agreement
  • B. values norms and beliefs are unimportant
  • C. values norms and beliefs are often in conflict
  • D. people value and believe what they please because its a free country

Explanation: Values, norms, and beliefs do not always fit together, so conflict can arise between what people consider desirable and how institutions…

Correct answer: values norms and beliefs are often in conflict
  • A. folkways
  • B. mores
  • C. table manners
  • D. taboos

Explanation: Mores are strongly enforced moral norms whose violation attracts serious social condemnation, such as destroying another person's home.

Correct answer: mores
  • A. normative
  • B. cognitive
  • C. rule oriented
  • D. value oriented

Explanation: Cognitive knowledge concerns factual understanding and how things work, so knowledge of a car engine is cognitive.

Correct answer: cognitive
  • A. vision in depth
  • B. opposable thumb
  • C. erect walking posture
  • D. all of the above

Explanation: Depth vision, opposable thumbs, and an erect walking posture each support tool use, observation, and manipulation, helping humans develop…

Correct answer: all of the above
  • A. helps humans to cooperate
  • B. passes on knowledge from generation to generation
  • C. reflects changes in society
  • D. all of the above

Explanation: Language supports cooperation, preserves knowledge across generations, and changes as society changes, so all three statements apply.

Correct answer: all of the above
  • A. human social life
  • B. not only human but also ant society
  • C. all animal groups
  • D. none of the above

Explanation: Culture provides the shared values, norms, and practices that organize human relationships and make social life possible.

Correct answer: human social life
  • A. that moral values different from one, s own are all wrong
  • B. everyone's crazy except you and me (and I'm not sure about you)
  • C. mindless acceptance of all cultural values of others
  • D. tolerance and respect for the cultural values of others

Explanation: Cultural relativity means judging practices within their cultural context rather than automatically using one's own standards, encouraging…

Correct answer: tolerance and respect for the cultural values of others
  • A. a football
  • B. goal posts
  • C. team uniforms
  • D. playing football

Explanation: A culture complex is a group of related cultural traits organized around one activity or institution.

Correct answer: playing football
  • A. folkways
  • B. mores
  • C. customs
  • D. traditions

Explanation: Mores are norms regarded as essential to a society's moral welfare, so violations attract stronger disapproval and help maintain social…

Correct answer: mores
  • A. bifocalism
  • B. upright posture
  • C. grasping ability of the hand
  • D. complex symbolic communication

Explanation: Complex symbolic communication, especially language, allows humans to store, share, and transmit the ideas on which modern culture…

Correct answer: complex symbolic communication
  • A. overt and covert culture
  • B. moral and immoral culture
  • C. legal and illegal culture
  • D. ethical and unethical culture

Explanation: Overt culture consists of publicly expressed rules and ideals, while covert culture reflects less openly acknowledged behavior, allowing a…

Correct answer: overt and covert culture
  • A. economic theories
  • B. issues in psychology
  • C. theoretical models used by sociologists and anthropologists
  • D. the vocabulary of computer science

Explanation: Symbolic interactionism, functionalism, conflict theory, feminism, and exchange theory are sociological perspectives used to explain…

Correct answer: theoretical models used by sociologists and anthropologists
  • A. physical anthropology
  • B. cultural anthropology
  • C. demography
  • D. psychology

Explanation: Physical anthropology, now usually called biological anthropology, studies human biological traits and their variation, including…

Correct answer: physical anthropology
  • A. predict a relationship between two factors
  • B. be general
  • C. be based on scientific theory
  • D. predict a causal relationship

Explanation: A hypothesis proposes a testable relationship between two or more factors.

Correct answer: predict a relationship between two factors
  • A. objectivity
  • B. judgmental social science
  • C. generalization
  • D. participant observation

Explanation: Ethical neutrality requires avoiding value judgments in research, whereas judgmental social science evaluates social behaviour according…

Correct answer: judgmental social science
  • A. as a method of social control
  • B. as a search for universal social laws
  • C. to systematically apply common sense to issues
  • D. to defend the established order

Explanation: The early social sciences were strongly influenced by positivism, which sought systematic and universal laws of social behaviour.

Correct answer: as a search for universal social laws
  • A. social scientists are a lawless group
  • B. social science research techniques are flawed
  • C. the various disciplines squabble among themselves
  • D. none of the above

Explanation: None of the listed explanations adequately accounts for the claim that social sciences have no laws; the options about lawlessness, flawed…

Correct answer: none of the above
  • A. Courage
  • B. Patience
  • C. Ethical neutrality
  • D. Social involvement

Explanation: Scientists need courage, patience, and ethical neutrality while collecting evidence, but they should maintain analytical detachment rather…

Correct answer: Social involvement
  • A. The functioning of supply and demand
  • B. Case study of an urban gay community
  • C. The interaction of various drugs in humans
  • D. The course of population growth and decline

Explanation: Supply and demand, communities, and population change can all be studied as social phenomena.

Correct answer: The interaction of various drugs in humans