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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- A. a women's age at marriage
- B. a women's family income
- C. whether the women came from an intact family
- D. all of the aboveFinance
Explanation: Long-term marital stability has been associated with factors such as the woman's age at marriage, family income and experience of growing…
Correct answer: all of the aboveFinance- A. Spending at least 20 hours with a person other than the mother
- B. Being cared for by the biological mother even if she would rather work outside the house
- C. We do not really know
- D. Being in a day-care center with other children of the same age
Explanation: There is no single care arrangement proven to be best for every child, because outcomes depend on care quality, family circumstances and…
Correct answer: We do not really know- A. are predominantly homosexual
- B. represent an example of premarital life
- C. are an old phenomenon
- D. represent the great majority of couples
Explanation: Cohabitation commonly refers to unmarried partners living together, often as a premarital arrangement.
Correct answer: represent an example of premarital life- A. renounces all responsibility for his children
- B. is often a "deadbeat dad"
- C. is usually unfit to be a parent
- D. none of the above
Explanation: A noncustodial parent does not automatically lose responsibility or become unfit; the term only means that the parent does not have…
Correct answer: is often a "deadbeat dad"- A. is a normal process from which people quickly recover?
- B. means freedom and happiness
- C. may bring devastating economic and emotional consequences
- D. none of the aboveEconomics
Explanation: Divorce can involve lost income, legal costs, housing disruption and significant emotional stress, especially for children and the…
Correct answer: may bring devastating economic and emotional consequences- A. the jailing of spouse abusers and marital rapists
- B. "serial" or "throwaway" marriages
- C. male bonding and tribalism
- D. women,s lack of interest in marriage
Explanation: The sociological argument points to women's declining willingness to accept traditional marital roles and their reduced dependence on…
Correct answer: women,s lack of interest in marriage- A. micro conflict theory
- B. transactional analysis
- C. resource theory
- D. dependency theory
Explanation: Resource theory explains marital power through each spouse’s valued resources, such as income, education, or social connections.
Correct answer: resource theory- A. need not do any of the menial housework
- B. have a more difficult psychological adjustment than men
- C. experience a 45 percent drop in income
- D. all of the above
Explanation: After divorce, women often face a substantial reduction in household income, commonly reported in this context as about 45 percent.
Correct answer: experience a 45 percent drop in income- A. are quite content with their lot
- B. spend very little time together
- C. experience constant elation
- D. all of the above
Explanation: Having children soon after marriage often reduces the time young couples can spend together because childcare and household…
Correct answer: spend very little time together- A. are the most difficult
- B. require the most adjustment
- C. offer the most satisfaction
- D. all of the above
Explanation: The early years combine major adjustment demands with the high satisfaction often associated with forming a new household and marriage.
Correct answer: all of the above- A. my family
- B. the family of procreation
- C. the family of origin
- D. the family of orientation
Explanation: The family into which a person is born is the family of orientation. The family of procreation is the family a person forms later through…
Correct answer: the family of orientation- A. occurs with greater frequency in extended families
- B. occurs less frequently in extended families
- C. is a function of social class
- D. happens only in industrial societies
Explanation: Extended families can provide additional adults who supervise children and support stressed parents, so child mistreatment is generally…
Correct answer: occurs less frequently in extended families- A. ensuring the reproduction of the species
- B. providing sex education
- C. feeding its members
- D. keeping members sheltered
Explanation: The family’s most basic social function is reproduction and the continuation of the species.
Correct answer: ensuring the reproduction of the species- A. conjugal
- B. consanguine
- C. procreational
- D. extended
Explanation: A nuclear family consists of spouses and their children and is therefore called a conjugal family.
Correct answer: conjugal- A. marriage
- B. common descent
- C. adoption
- D. none of these
Explanation: Kinship systems primarily organize relationships through common descent, such as relationships traced through a family line.
Correct answer: common descent- A. interfaith competition
- B. legal and economic bonds
- C. educational functions
- D. class conflict
Explanation: Marriage creates recognized legal duties and economic responsibilities between spouses and often within the wider family.
Correct answer: legal and economic bonds- A. show business
- B. gossip
- C. sports
- D. the family
Explanation: The family is a basic pivotal institution because it performs essential functions such as reproduction, socialization, care and economic…
Correct answer: the family- A. is intensified by the move of the middle class to the suburbs
- B. has been reduced by urban renewal
- C. has been intensified by gentrification
- D. is well on the way to being resolved
Explanation: Suburbanisation draws middle-class residents and resources away from the central city, weakening its tax base and services.
Correct answer: is intensified by the move of the middle class to the suburbs- A. the move of the middle class and industry to the suburbs
- B. the inner city,s declining tax base
- C. a high percentage of deprived and trapped individuals
- D. all of the above
Explanation: The urban crisis is associated with suburban movement of households and industry, a shrinking inner-city tax base, and a concentration of…
Correct answer: all of the above- A. cottage industry
- B. guild system
- C. factory system
- D. exploitation of the proletariat
Explanation: The factory system concentrates workers, tools, and machinery in a single workplace under organized production.
Correct answer: factory system