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Economics MCQ Questions and Solutions with Explanations | Commerce

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-2 section-6

Each section contains 100 MCQs on Economics .
11
Good 'Y' is the substitute for good 'X' if
1. A fall in the price of good X leads to the fall in the marginal utility of good Y.
2. A fall in the price of good X leads to the fall in the quantity purchased of good Y. Select the correct answer
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
12
Match the following.
List-I List-II
a. Law of equi-marginal utility 1. Gossen
b. Ordinal utility 2. Hicks
c. Monopolistic competition 3. Mrs. Robinson
d. Marginal productivity theory of distribution 4. Clark
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
13
Match the following.
List-I List-II
a. Trade channel discount 1. Oligopoly pricing
b. Loss leadership 2. Locational price differentials
c. Pricing being non-responsive to changes in the demand and the cost 3. Differential pricing
d. Basing point pricing 4. Product line pricing
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
14
The notion of quasi rent for first defined by
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
15
The monopolistic firm will be in equilibrium, where
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
16
Calculate elasticity of demand when a 60% increase in the price of rice causes the amount of rice you buy to fall by 120%
Discuss
Answer & Solution
Answer: Option A
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17
The World Bank gives long term loans to developing member countries for how many years?
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
18
Assume that the demand curve for a certain commodity is a downward-sloping straight line. In such case price elasticity of demand
Discuss
Answer & Solution
Answer: Option B
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19
A sunk cost is
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
20
Which one of the following is not correct about the price discrimination by a monopolist, who intends to
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board