Economic MCQs with answers Page - 20

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. When marginal product is positive, the total product _____

  • (A) Remains constant
  • (B) Is not affected
  • (C) Increases
  • (D) Decreases

A

Admin • 802.91K Points
Coach

Q. When total utility increases, marginal utility _____

  • (A) Is maximum
  • (B) Is one
  • (C) Is zero
  • (D) Declines

A

Admin • 802.91K Points
Coach

Q. Indifference curve assumes, the consumer has a _____ amount of money to spend on the two goods.

  • (A) Maximum
  • (B) Less
  • (C) More
  • (D) Fixed

A

Admin • 802.91K Points
Coach

Q. In economics, we make use of _____

  • (A) Deductive method
  • (B) Inductive method
  • (C) Both
  • (D) None of these

A

Admin • 802.91K Points
Coach

Q. ____ influences the price in long period.

  • (A) MPC
  • (B) Supply
  • (C) Demand
  • (D) Consumption

A

Admin • 802.91K Points
Coach

Q. In very short period, the market supply is

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

A

Admin • 802.91K Points
Coach

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

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

A

Admin • 802.91K Points
Coach

Q. The most important feature of oligopol is ___ in decision making.

  • (A) Price rigidity
  • (B) Group behavior
  • (C) Interdependence
  • (D) Free entry and exit

A

Admin • 802.91K Points
Coach

Q. In short period supply curve is

  • (A) Perfectly inelastic
  • (B) Perfectly elastic
  • (C) Relatively elastic
  • (D) Relatively inelastic

A

Admin • 802.91K Points
Coach

Q. The short run production function is called

  • (A) The law of variable proportions
  • (B) The law of return to sale
  • (C) Iso- quants
  • (D) All the above

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