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CA Foundation Exam  >  CA Foundation Questions  >  Micro economics covers the study of—(i)... Start Learning for Free
Micro economics covers the study of—
(i) Consumer’s behaviour
(ii) Producer’s equilibrium
(iii) Fiscal system of an economy
(iv) Factor pricing
  • a)
    i and iii
  • b)
    ii and iv
  • c)
    i, ii and iii
  • d)
    i, ii and iv
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Micro economics covers the study of—(i) Consumer’s behavio...
Micro economics deals with the individual approach of various parties involved in an economy, i.e, consumer, producer, price, and cost. Therefore, it studies consumer's behaviour, producer's equilibrium, and factor pricing.
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Micro economics covers the study of—(i) Consumer’s behavio...
Individual economic agents such as households, firms, and markets. It focuses on how these agents make decisions regarding the allocation of scarce resources and how their interactions determine the prices of goods and services. Micro economics also examines the behavior of consumers and producers, the role of government in regulating markets, and the impact of market structures on economic outcomes. Topics covered in micro economics include supply and demand, market equilibrium, elasticity, production and costs, market failures, and welfare economics.
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Features of a Mixed Economy:A mixed economy is an economic system that combines elements of both a market economy and a planned economy. It incorporates features of both private enterprise and government intervention. The correct answer is D, as all of the following features are characteristic of a mixed economy:1. Planned economy:A mixed economy includes elements of a planned economy, where the government plays a role in guiding and regulating economic activities. It formulates economic plans and policies to ensure the efficient allocation of resources and to promote economic stability.2. Dual system of pricing:In a mixed economy, there exists a dual system of pricing, which means that both market prices and government-set prices coexist. While market forces determine prices for most goods and services, the government may intervene to regulate prices in certain sectors to protect consumers or promote social welfare.3. Balanced regional development:Another characteristic of a mixed economy is the emphasis on balanced regional development. The government intervenes to ensure that economic growth and development are not concentrated in specific regions or industries but are spread across different regions and sectors. This helps to reduce regional disparities and promote overall economic stability and social welfare.Benefits of a Mixed Economy:A mixed economy offers several benefits due to its combination of market forces and government intervention. Some of these benefits include:1. Economic efficiency:By incorporating market mechanisms, a mixed economy allows for resource allocation based on supply and demand, which promotes economic efficiency. Market forces encourage competition, innovation, and productivity, leading to higher levels of economic growth.2. Social welfare:Government intervention in a mixed economy enables the provision of public goods and services that may not be adequately provided by the market alone. This includes areas such as healthcare, education, infrastructure, and social security, ensuring a certain level of social welfare and equity.3. Stability and regulation:The government's role in a mixed economy helps to maintain economic stability through macroeconomic policies such as fiscal and monetary measures. It also regulates certain sectors to prevent market failures, protect consumer rights, and ensure fair competition.Conclusion:A mixed economy combines the advantages of both market forces and government intervention. It allows for economic efficiency, social welfare, and stability. The features of a mixed economy include elements of a planned economy, a dual system of pricing, and balanced regional development. These features work together to create a system that promotes both economic growth and social welfare.

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Micro economics covers the study of—(i) Consumer’s behaviour(ii) Producer’s equilibrium(iii) Fiscal system of an economy(iv) Factor pricinga)i and iiib)ii and ivc)i, ii and iiid)i, ii and ivCorrect answer is option 'D'. Can you explain this answer?
Question Description
Micro economics covers the study of—(i) Consumer’s behaviour(ii) Producer’s equilibrium(iii) Fiscal system of an economy(iv) Factor pricinga)i and iiib)ii and ivc)i, ii and iiid)i, ii and ivCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Micro economics covers the study of—(i) Consumer’s behaviour(ii) Producer’s equilibrium(iii) Fiscal system of an economy(iv) Factor pricinga)i and iiib)ii and ivc)i, ii and iiid)i, ii and ivCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Micro economics covers the study of—(i) Consumer’s behaviour(ii) Producer’s equilibrium(iii) Fiscal system of an economy(iv) Factor pricinga)i and iiib)ii and ivc)i, ii and iiid)i, ii and ivCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Micro economics covers the study of—(i) Consumer’s behaviour(ii) Producer’s equilibrium(iii) Fiscal system of an economy(iv) Factor pricinga)i and iiib)ii and ivc)i, ii and iiid)i, ii and ivCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
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