HSST Economics Online Mock Tests-Micro Economics
Micro Economics Practice Zone for Competitive Exams
Strengthen your Micro Economics preparation for the Kerala PSC HSST Economics examination using carefully designed online mock tests. These tests help you practise important concepts, improve exam confidence, and understand the real question pattern.
Focus on demand, supply, elasticity, cost, production and market analysis.
Questions designed as per HSST, PSC, NET and SET standards.
Improve speed, accuracy and negative marking strategy.
Detailed answer review with correct options and performance analysis.
Get immediate results after submitting each test.
Questions strictly prepared as per the prescribed syllabus.
The mock tests cover all major areas of Micro Economics including consumer behaviour, production and cost analysis, elasticity of demand, market structures, profit concepts and graphical interpretation. Regular practice using these tests will significantly improve your performance in competitive exams.
❓ Frequently Asked Questions
Q: Do I need to sign up?
A: No. Just click and start.
Q: Are there correct answers?
A: Yes — results and detailed solutions are shown.
Q: Is it timed?
A: You decide the pace.
Q: Is it syllabus based?
A: Yes, all questions are 100% syllabus based.
Q: Does it include previous year questions (PYQs)?
A: Yes, PYQs are included wherever relevant.
🌟 Strengthen Your Micro Economics for HSST Success
Micro Economics becomes easy only when you practice questions regularly. Start with Test 1 (Easy Level) to understand concepts, logic, and question patterns. Each test you attempt sharpens your thinking and boosts exam confidence.
✔ Concept-based practice • ✔ HSST-oriented MCQs • ✔ Learn and improve with every attempt
MCQs in Micro Economics
Almon distributed Lag
Price and quantity of a commodity
All of the above (i), (ii) and (iii)
Quantity of the commodity demanded at a certain price during any particular period of time
Group of commodities between no substitution is possible
To examine the relationship between current consumption and future income over time
Consumption is a function of both current and future income
i, ii, iii
Richard Stone
i, ii, iii
Both Statement (i) & (ii) are true
Both Statement (i) & (ii) are true
the income elasticity of demand
Subsistence income
ii, iii
Statement (i) is true and statement (ii) is false
i, ii
All of these
Supernumerary Income
aggregate consumer income
All of these
the price elasticity of demand
None of these
Dynamic Demand Functions
Houthakkar and Taylor
Nerlovouthakkar
Houthakkar and Taylor
Nerlove’s Stock Adjustment Principle
i, ii
Both Demand functions & Investment functions
Q(t) = a.Y(t) + b.Q(t-1)
i, ii
between 0 and 1
The demand function in case of non durable goods
The sign of the coefficient of S can be negative or positive.
All of these
Value of durable commodities
Time
All of these
All of these
Elasticity remains the same at all points on the demand curve
Iso-elastic demand curve
Long-run impact of price/income on demand
Speed at which actual stock adjusts to desired stock
Negative
Positive sign
Past behavior affects present demand decisions
Desired change × Adjustment coefficient
Both A and R are true, and R explains A
Both A and R are true, and R explains A
Both Cost conditions and Future prices can vary
Both Statement (i) & (ii) are true
All of these
as his income increases.
the objective measure of probability
maximum
Risk Neutrality
Risk Neutrality
Linear in probabilities.
Convex (to the origin) indifference curves
Probabilities
The lottery with the smaller variance
Expected value of a lottery
Constant marginal utility of wealth
The average payoff.
Linear indifference curves.
The relative frequency with which an event will occur.
The outcome that will occur on average for a given experiment.
Risk averse.
Zero.
Risk
Expected value
Neutral
Risk Neutrality
The risk per unit of expected payoff.
Consumption today and consumption in the future
Risk Aversion
Same utility from both the activities
Risk Aversion
Risk Preferring
its slope is decreasing
U(EV) < E(U)
Payoff increases
Greater than
U(EV) > E(U)
Harvey Lebenstein
Less Elastic
Bandwagon effect
A positive network externality where a consumer’s demand for a product increases because others are also buying the same commodity
More Elastic
The Snob Effect
Smaller
The Snob Effect
Negative externalities
The Veblen Effect
Snob effect
Increases
Nicholas Kaldor
The cobweb model
Kenneth J. Arrow
Demand curve is more than supply curve
Preferences of investors for different economic states
A possible outcome in the future that affects consumption and investment
People buy expensive goods to signal wealth and status
Consumers prefer exclusive or rare products over widely available ones
High exclusivity and limited supply
Only S1 and S3
S1, S2 and S3
A true, R false
A and R true, R explains A
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