Tag: microeconomics and macroeconomics : introduction

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Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

To control high rate interest rates, coercive collections and illegal insurance practices by the Micro Finance Institutes, Andhra Pradesh Government passed Andhra Pradesh Microfinance Institutions (Regulations of Money Lending) Act in?

  1. 2014

  2. 2013

  3. 2005

  4. 2011
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Act was enacted in 2011 to regulate the activities of microfinance institutions following concerns about their lending practices.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

When the rate of money inflation increases then the prices of commodities _____.

  1. Increase

  2. Decrease

  3. Remain constant

  4. Do not change
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Inflation affects economies in various positive and negative ways. The negative effects of inflation include an increase in the opportunity cost of holding money, uncertainty over future inflation which may discourage investment and savings, and if inflation were rapid enough, shortages of goods as consumers begin hoarding out of concern that prices will increase in the future. Positive effects include reducing the real burden of public and private debt, keeping nominal interest rates above zero so that central banks can adjust interest rates to stabilize the economy, and reducing unemployment due to nominal wage rigidity.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Loans to poor people by banks have many limitations including lack of security and high operating cost. So to help them which type of finance system developed?

  1. Ponzi schemes

  2. Micro Finance System

  3. Money Laundering Schemes

  4. Money tampering finance
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Micro Finance Systems were developed to provide financial services, including small loans, to low-income individuals or those who lack access to traditional banking services, bypassing the need for traditional collateral.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Mixed economy means an economy where ______________________.

  1. Both agriculture and industry are equally promoted by the State

  2. There is co-existence of public sector along with private sector

  3. There is importance of small scale industries along with heavy industries

  4. Economy is controlled by military as well as civilian rulers
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A mixed economy is characterized by the coexistence of both public (government-owned) and private sectors, allowing for both state intervention and market-driven economic activity.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

___________ is that branch of economics that concern how individual households ad firms takes economic decisions to allocate scarce resources.

  1. Marcoeconomics

  2. Microeconomics

  3. Positive economics

  4. Normative economics
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Microeconomics

  • Micro in Greek means 'small'. 
  • It is that part of economics which deals with the individual units of the economy. 
  • It takes into account the demand and supply of individual units. 
  • It aims to determine the price of a product using the factors of production.
  • Example: Individual income and Individual output.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

The study of the behaviour of firms, individual markets, and household is called ___________.

  1. national economics

  2. positive economics

  3. macroeconomics

  4. microeconomics
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

 Microeconomics
1. It is that part of economics which deals with the individual units of the economy. 
2. It takes into account the demand and supply of individual units. 
3. It aims to determine the price of a product using the factors of production.
4. Example: Individual income and Individual output.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

The term micro-economics is derived from Greek prefix mikro which means ____________.

  1. aggregate

  2. consumer choices

  3. biggest

  4. small
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Microeconomics

  • Micro in Greek means 'small'. 
  • It is that part of economics which deals with the individual units of the economy. 
  • It takes into account the demand and supply of individual units. 
  • It aims to determine the price of a product using the factors of production.
  • Example: Individual income and Individual output.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

To study the impact of rise in the price of edible oils on the demand of edible oil is the concern of ____________.

  1. macroeconomics

  2. microeconomics

  3. positive economics

  4. normative economics
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

To study the impact of rise in the price of edible oils on the demand of edible oil is the concern of Microeconomics. Microeconomics is that part of economics which deals with the individual units of the economy. It takes into account the demand and supply of individual units and helps in studying the prices of products according to it. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of these is a subject matter of micro economics?

  1. Interaction of producers and consumers in a market

  2. Aggregate demand

  3. Level of full employment

  4. Impact of variation in CRR on money supply
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Interaction of producers and consumers in a market is the subject matter of Microeconomics. Microeconomics is that part of economics which deals with the individual units of the economy. It takes into account the demand and supply of individual units. All the other options are the concern of macroeconomics.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of the following issues are related to micro-economics?

  1. Impact of crude price hike on inflation

  2. Impact of change in bank rate on bank savings and investment

  3. Impact of information technology on economic growth

  4. Impact of shortage of wheat production on wheat price
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Impact of a shortage of wheat production on wheat price comes under the domain of Microeconomics. Microeconomics is that part of economics which deals with the individual units of the economy. It takes into account the demand and supply of individual units and helps in studying the prices of products according to it. All the other options are the concern of macroeconomics as they take into account the larger picture into consideration.