Economic MCQs with answers Page - 3

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Q. The equilibrium of a firm under perfect competition will be determined when

  • (A) Marginal Cost > Average Cost
  • (B) Marginal Revenue > Average Cost
  • (C) Marginal Revenue > Average Revenue
  • (D) Marginal Revenue = Marginal Cost

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Q. Which among the following comes under Tertiary Sector of Indian Economy

  • (A) Cloth Industry
  • (B) Sugar Industry
  • (C) Dairy
  • (D) Transport of Goods

A

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Q. National income is the

  • (A) Net National Product at Market price
  • (B) Net National product at factor coast
  • (C) Net domestic product at market price
  • (D) Net domestic product at factor cost

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Q. Which of the following is entrusted with the task of receiving all money on behalf of the Government as also with the task of making payments on their behalf?

  • (A) State Bank of India
  • (B) Reserve Bank of India
  • (C) Ministry of Finance
  • (D) Union Parliament

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Q. Indian Income Tax is :

  • (A) Indirect and Proportional
  • (B) Direct and Progressive
  • (C) Indirect and Progressive
  • (D) Direct and proportional

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Q. Which of the following deals with economic offences?

  • (A) MISA
  • (B) NSA
  • (C) TADA
  • (D) COFEPOSA

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Q. Demand curve is indeterminate under.

  • (A) oligopoly
  • (B) duopoly
  • (C) monopoly
  • (D) pure competition

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Q. In terms of value, India’s exports in Descending order are

  • (A) Gems & Jewellery, Textiles, Engineering goods.
  • (B) Engineering goods, Gems & Jewellery, Textiles.
  • (C) Textiles, Engineering goods, Gems & Jewellery.
  • (D) Textiles Gems & Jewellery, Engineering goods.

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Q. Comptroller and Auditor General of India is not responsible for

  • (A) Regulating Reserve Bank of India
  • (B) Issue of money from the Consolidated Fund.
  • (C) Making payments to the States.
  • (D) Accounting of States & UTs, and Auditing of all Government Institutions.

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Q. The Worldwide great depression happens in which year

  • (A) 1936
  • (B) 1929
  • (C) 1928
  • (D) 1930

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