1.Microeconomics _____ with decision making by individual economic agents such as firms and consumers.

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is concern

is concerned

concerned

concerns

2. Microeconomics _____ at specific economic units.

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looking

looks

looked

look

3. The study of individual choice and the study of group behavior in individual market both _____ he rubric of microeconomics.

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down comes

down come

come under

comes down

4. The training of all economists _____ on microeconomic analysis.

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is focuse

are focused

are focuse

is focused

5. What makes microeconomics such a ______ subject?

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challenge

challenging

challenged

challenges

6. Microeconomic topics ______ in daily newscasts.

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heard

are heard

is heard

hear

7. Microeconomics _____ also _____ as price theory.

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also known

is also known

are also known

also know

8. For two centuries, price theory _____ the centre of attention of economists.

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to has been

has been

to have been

have been

9. One of the goals of Microeconomics is _____ market mechanisms that establish relative prices amongst goods and services.

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analyze

analyzed

to analyze

analyzes

10.Production theory is the study of production or the economic process of _____ inputs into outputs.

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converts

converted

converting

convert

11. Microeconomics is the study of economics at an _____ level.

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company

individual

group

group, individual or company level

12. Microeconomics deals with the effects of _____ economic policies.

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national

internal

international

foreign

13. _____ plays a key role in microeconomics.

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Optimizing

Optimize

Optimized

Optimization

14. _____ is an important concept in microeconomics.

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Demand cost

Cost demand

Opportunity demand

Opportunity cost

15. If you know Consumer demand theory, you ______ preferences for the consumption.

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to know

knows

know

knew

16. The _____ maximization problem is the heart of consumer theory.

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cost

opportunity

demand

utility

17. _____ is the limited nature of society’s resources.

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Cost

Scarcity

demand

Opportunity

18. _____ the quantity of goods and services produced from each unit of labor input.

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Cost

Scarcity

Productivity

Demand

19. _____ is the property of distributing economic prosperity uniformly among the members of society.

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Equality

Demand

Cost

Productivity

20. _____ is the property of society getting the most it can from its scarce resources.

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Cost

Demand

Scarcity

Efficiency

 

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