MCQ Chapter 1 Economics Class 12 Maharashtra Board Introduction to Micro and Macro Economics 1. What is the focus of the Theory of Economic Welfare in Micro Economics?National incomeEfficiency in resource allocationGeneral price levelBusiness cyclesQuestion 1 of 202. What does partial equilibrium in Micro Economics analyze?The entire economyIndividual economic unitsAggregate demandGeneral price levelQuestion 2 of 203. Which principle is used by producers and consumers in Micro Economics for decision-making?Aggregate supplyMarginalismNational incomeBusiness cyclesQuestion 3 of 204. How does Micro Economics assist the government?By studying national incomeBy framing economic policiesBy analyzing business cyclesBy determining general price levelsQuestion 4 of 205. What does efficiency in consumption mean in Micro Economics?Producing maximum goodsDistributing goods to maximize satisfactionDetermining factor rewardsAnalyzing market structuresQuestion 5 of 206. Which group advocated macro economic policies in the 16th and 17th centuries?Classical EconomistsMercantilistsPhysiocratsNeo-Classical EconomistsQuestion 6 of 207. What does Macro Economics study in relation to business cycles?Individual pricesCauses of income and employment fluctuationsFactor pricingMarket structuresQuestion 7 of 208. What is the significance of studying macro economic variables?Determining individual pricesUnderstanding the working of the economyAnalyzing market structuresStudying factor rewardsQuestion 8 of 209. Which economist contributed to Macro Economics besides John Maynard Keynes?Alfred MarshallIrving FisherJ.R.HicksAdam SmithQuestion 9 of 2010. What does overall economic efficiency in Micro Economics involve?Producing maximum goodsProducing goods most desired by peopleDetermining factor rewardsAnalyzing business cyclesQuestion 10 of 2011. What is a key difference between Micro and Macro Economics?Micro studies aggregates, Macro studies individual unitsMicro studies individual units, Macro studies aggregatesBoth study national incomeBoth use the lumping methodQuestion 11 of 2012. What does Micro Economics help businessmen determine?National incomeCost of production and pricesGeneral price levelBusiness cyclesQuestion 12 of 2013. Which aspect of foreign trade does Micro Economics not explain?Effects of tariffsCurrency exchange ratesGains from international tradeNational income fluctuationsQuestion 13 of 2014. What is the basis of welfare economics in Micro Economics?National income analysisOptimum utilization of resourcesGeneral price levelBusiness cyclesQuestion 14 of 2015. What does the Theory of General Price Level in Macro Economics explain?Individual commodity pricesCauses of inflation and deflationFactor pricingMarket structuresQuestion 15 of 2016. What does the study of Macro Economics help control?Individual pricesEconomic fluctuationsFactor rewardsMarket structuresQuestion 16 of 2017. What is the scope of Micro Economics primarily confined to?National incomePrice theory and resource allocationBusiness cyclesGeneral price levelQuestion 17 of 2018. Which concept is not part of the scope of Macro Economics?Theory of Income and EmploymentTheory of Product PricingTheory of Economic GrowthTheory of General Price LevelQuestion 18 of 2019. What does the interdependence feature of Macro Economics refer to?Individual unit behaviorRelationships between aggregate variablesPartial equilibriumSlicing methodQuestion 19 of 2020. How does Macro Economics analyze the performance of an economy over time?By studying individual pricesBy comparing National Income estimatesBy determining factor rewardsBy analyzing market structuresQuestion 20 of 20 Loading...
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