Economic MCQs with answers Page - 18

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
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Q. The supply is _____ in the market period.

  • (A) Variable
  • (B) Less
  • (C) Changed
  • (D) Fixed

A

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Q. Increase in demand is partially met by the increase in supply in _____ period

  • (A) Long period
  • (B) Short period
  • (C) Very long period
  • (D) Market period

A

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Q. _____ utility is created due to transfer of ownership from one person to another person.

  • (A) Form
  • (B) Place
  • (C) Time
  • (D) Possession

A

Admin • 802.91K Points
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Q. Indifference curve approach is based on _____ ranking

  • (A) Subjective
  • (B) Psychological
  • (C) Cardinal
  • (D) Ordinal

A

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Q. Government will have sole right of producing and selling some goods, they are called ___ monopoly.

  • (A) Technical
  • (B) Natural
  • (C) Legal
  • (D) State

A

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Q. The supply curve in the long run is

  • (A) Elastic
  • (B) Inelastic
  • (C) Perfectly elastic
  • (D) Perfectly inelastic

A

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Q. ____ market assumes absence of transport cost.

  • (A) Monopoly
  • (B) Monopolistic competitive
  • (C) Perfectly competitive
  • (D) Oligopoly

A

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Q. When demand and supply conditions are influenced at the international level, such market is called

  • (A) Regional
  • (B) Global
  • (C) Local
  • (D) National

A

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Q. In ____ period, supply fully meets the new demand conditions.

  • (A) Short
  • (B) Long
  • (C) Very long
  • (D) Very short

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