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 5 of 88

  • A. criminal behavior
  • B. normative behavior
  • C. collective behavior
  • D. social behavior

Explanation: When people face a novel situation without established rules or precedents, they often develop spontaneous, unstructured responses.

Correct answer: collective behavior
  • A. nationalistic revolutionary movements
  • B. class revolutionary movements
  • C. coups d,etat
  • D. guerrilla fighting

Explanation: Marxist theory explains social conflict primarily through economic class divisions, especially the struggle between exploiting and…

Correct answer: class revolutionary movements
  • A. lower class
  • B. upper class
  • C. middle class
  • D. all social classes equally

Explanation: In industrial societies, the middle class commonly supplies education, organizational resources, and participants for social movements.

Correct answer: middle class
  • A. no specific ideology
  • B. a sense of solidarity
  • C. an insignificant number of persons involved
  • D. no particular program of action

Explanation: A social movement is sustained by shared aims and a feeling of belonging among its participants, known as solidarity.

Correct answer: a sense of solidarity
  • A. resist change
  • B. encourage change
  • C. redirect change
  • D. all of the above

Explanation: Social movements may oppose existing changes, promote new changes, or redirect change toward different goals.

Correct answer: all of the above
  • A. public
  • B. acting crowd
  • C. casual crowd
  • D. none of these

Explanation: A public is a dispersed group that shares an interest or concern, such as protecting whales, without necessarily gathering in one place.

Correct answer: public
  • A. fashion
  • B. rational legal behavior
  • C. fantasy
  • D. none of the above

Explanation: The panic was a form of collective behavior triggered by a widely shared but mistaken belief about an invasion.

Correct answer: none of the above
  • A. casual
  • B. acting
  • C. expressive
  • D. disorganized

Explanation: An expressive crowd gathers to share emotions, beliefs, or excitement, as at a religious revival meeting.

Correct answer: expressive
  • A. completely lacks structure
  • B. has some connection with social factors?
  • C. is always disorganized
  • D. none of the above

Explanation: Collective behavior is less structured than ordinary group behavior, but it is still shaped by social conditions, shared meanings, and…

Correct answer: has some connection with social factors?
  • A. have a lower birthrate than females
  • B. live longer than females
  • C. are more prone to aggressiveness than females
  • D. are less likely to die violently

Explanation: Research commonly finds males are more prone to aggressive behaviour, particularly physical aggression, while females generally have…

Correct answer: are more prone to aggressiveness than females
  • A. the young are superior to the old
  • B. the old are superior to the young
  • C. there is a smooth transfer of roles between the old and the young
  • D. work is best left to those who can do it

Explanation: Ageism is based on the assumption that older people are inferior, less capable, or less valuable than younger people.

Correct answer: the young are superior to the old
  • A. the castrated male still acted like a tomboy
  • B. the intact twin gradually became more "feminine"
  • C. the castrated twin was tidier than his brother but never played with dolls
  • D. all of the above

Explanation: The case showed that being raised as a girl did not fully determine the child’s gendered behaviour or identity; the castrated twin still…

Correct answer: the castrated male still acted like a tomboy
  • A. Latinos have a strong sense of community
  • B. they are well organized politically
  • C. they try to use English instead of their native Spanish
  • D. they have a common culture

Explanation: Latino neighbourhoods have often benefited from strong community networks, including family ties, mutual assistance, and shared…

Correct answer: Latinos have a strong sense of community
  • A. age
  • B. social status
  • C. social class
  • D. none of these

Explanation: Differences in racial attitudes are often associated with age because younger and older generations were socialized during different…

Correct answer: age
  • A. internal economic development and specialization
  • B. development of a middle class
  • C. geographic concentration
  • D. a social caste system

Explanation: Upward mobility may be aided by economic development, specialization, a growing middle class, and sometimes geographic concentration.

Correct answer: a social caste system
  • A. with prejudice
  • B. as a result of informal quotas
  • C. with or without accompanying prejudice
  • D. as a result of government rulings

Explanation: Discrimination is unequal treatment in behaviour or institutions, whereas prejudice is an attitude or belief.

Correct answer: with or without accompanying prejudice
  • A. prejudging
  • B. characterizing
  • C. stereotyping
  • D. discriminating

Explanation: Stereotyping means assigning generalized characteristics to all members of a group while ignoring individual differences.

Correct answer: stereotyping
  • A. acculturation
  • B. accommodation
  • C. segregation
  • D. assimilation

Explanation: Segregation deliberately separates a minority group from the dominant population, creating social, residential, or institutional…

Correct answer: segregation
  • A. caste systems
  • B. estate systems
  • C. class systems
  • D. status systems

Explanation: An estate system is based on legally recognized social orders, such as nobles with inherited titles and landed property.

Correct answer: estate systems
  • A. positions in the social system
  • B. ranked occupational positions
  • C. spending and consumption patterns
  • D. prestige derived from ancestry

Explanation: Weber linked status to the social standing and prestige attached to occupational positions, not merely to income or ancestry.

Correct answer: ranked occupational positions