Economic MCQs with answers Page - 17

Here, you will find a collection of MCQ questions on Economic. Go through these questions to enhance your preparation for upcoming examinations and interviews.

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A

Admin • 802.91K Points
Coach

Q. Without use of _____ factor no goods can be produced.

  • (A) Additional
  • (B) Derived
  • (C) Primary
  • (D) Secondary

A

Admin • 802.91K Points
Coach

Q. Indifference curve assumed that the consumer’s scale of preferences at a given time _____

  • (A) Remains constant
  • (B) Varies
  • (C) Remains one
  • (D) Remains zero

A

Admin • 802.91K Points
Coach

Q. When demand curve is shifted, the price _____

  • (A) Rises
  • (B) Falls
  • (C) Remains constant
  • (D) Changes

A

Admin • 802.91K Points
Coach

Q. A successful entrepreneur is one who is ready to accept

  • (A) Deciding the location of the production unit
  • (B) Risks
  • (C) Innovations
  • (D) None of these

A

Admin • 802.91K Points
Coach

Q. ____ means government may take over monopolistic companies, which are exploiting the consumer.

  • (A) Consumer’s association
  • (B) Nationalisation
  • (C) Taxation
  • (D) Legislation

A

Admin • 802.91K Points
Coach

Q. A firm under monopoly faces ___ demand curve.

  • (A) Downward sloping
  • (B) Upward sloping
  • (C) Perfectly elastic
  • (D) Perfectly inelastic

A

Admin • 802.91K Points
Coach

Q. Under perfect competition, the demand curve is

  • (A) Upward sloping
  • (B) Horizontal
  • (C) Vertical
  • (D) Downward sloping

A

Admin • 802.91K Points
Coach

Q. _____ method of controlling monopoly is best to check the concentration of economic power in few hands.

  • (A) Controlling price and output
  • (B) Nationalisation
  • (C) Legislative
  • (D) Taxation

A

Admin • 802.91K Points
Coach

Q. _____ method of monopoly can be applied in case of natural monopolies.

  • (A) Nationalisation
  • (B) Consumer’s association
  • (C) Taxation
  • (D) Controlling price and output

A

Admin • 802.91K Points
Coach

Q. The monopolist can control

  • (A) Number of firms
  • (B) Neither price nor output
  • (C) Both price and output
  • (D) Either price or supply

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