All MCQs Tests - VU ECO402 - Microeconomics

Question 1: The supply curve slopes upward demonstrating that at:

Question 2: Which of the following is a branch of economics that deals with observations of real economic facts?

Question 3: Three basic decisions must be made by all economies. What are they?

Question 4: Coffee and tea are considered as substitutes if price of coffee increases then it will shift

Question 5: If an economy is operating at a point inside the production possibilities curve,

Question 6: Indifference curve cannot slope upward due to the assumption of

Question 7: Which of the following will cause the demand curve for Apple to shift to the right?

Question 8: Market equilibrium is a market state where:

Question 9: Economic choice and competitive behavior are the result of

Question 10: Which one of the following is a positive economic statement?