Economics MCQ Questions and Solutions with Explanations

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Economics MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Economics MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-10 section-15

Each section contains 100 MCQs on Economics .

Assume a production function Y = L^α K^{1 - α} (Y = output, L = labour and K = Capital) for a firm in a purely competitive market. Which one of the following would measure the share of labour in output?

A) α B) L(α) C) L^α D) α/L

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Which of the following is not a national debt?

A) Provident fund B) Life insurance certificate C) National savings certificate D) Long term government bonds

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

In which market the firm cannot determine the price

A) Perfect competition B) Monopoly C) Monopolistic competition D) Oligopolistic

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Match the following.

List-I	List-II
a. AP × L	1. Marginal product
b. TU_n - TU_{n - 1}	2. Marginal utility
c. TP_n - TP_{n - 1}	3. Total product

A) a-1, b-2, c-3 B) a-3, b-2, c-1 C) a-2, b-3, c-1 D) a-2, b-1, c-3

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Who is called Father of Economics?

A) Max Muller B) Karl Marx C) Adam Smith D) Samuelson

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Monopolistic competition means-

A) large number of producers and products are homogeneous B) small number of producers and products are homogeneous C) large number of producers with product differentiation D) small number of producers with product differentiation

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

The reason for slowdown in industrial development in India

A) Shortage of electricity B) Labour unrest C) Lack of capital D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Classical conditioning is a theory of:

A) Perecption B) Learning C) Attitude D) Behaviour

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Cobb-Douglas production function mainly studies

A) Capital and labour B) Labour and entrepreneur C) Land and labour D) Land and capital

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

100

Which of the following characteristics should be in an entrepreneur

A) Innovation B) Risk bearing C) To intiate D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

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Economics MCQ Questions and Solutions with Explanations | Commerce