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-3 section-11

Each section contains 100 MCQs on Economics .

What causes an increase in the quantity in the supplied of good Y but not in the supply of good Y?

A) An increase in the price of Y B) An increase in the price of Y, a complement in the production of Y C) An improvement in the technology producing Y D) A reduction in the price of resources in producing Y

Discuss

Answer & Solution

Answer: Option A

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

According to the modern economists, the law of depreciation begins to apply from the point where

A) The total output of the variable factor starts decreasing B) Marginal output of the variable factor starts decreasing C) Average output of the variable factor starts decreasing D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

Which of the following was privatised first?

A) MTNL B) Modern Food Industries C) BSNL D) Bharat Aluminum Corporation Limited

Discuss

Answer & Solution

Answer: Option B

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

Which of the following is not condition of perfect competition . . . . . . . .

A) A large number of firms B) Perfect mobility of factors C) Price is determined by industry not by individual firm D) Individual seller/buyer can influence price in the market

Discuss

Answer & Solution

Answer: Option D

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

Machine is example of

A) Consumer goods B) Capital goods C) Intermediary goods D) None of these

Discuss

Answer & Solution

Answer: Option B

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

When there is decrease in demand, the demand curve

A) moves downwards towards the axis B) moves upwards away from the axis C) remains unchanged D) all of the above

Discuss

Answer & Solution

Answer: Option A

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

The national income of India is calculated by

A) Planning commission B) Central statistical organization (CSO) C) Indian statistical institue D) Finance commission

Discuss

Answer & Solution

Answer: Option B

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

The function refers to-

A) the demand for a commodity B) the supply of a commodity C) the demand and supply of a commodity D) the relationship between one dependent variable and one or more independent variables

Discuss

Answer & Solution

Answer: Option D

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

If depreciation is subtracted from the total goods and services produced within the country in a year, we will get

A) Gross national product B) Net national product C) Gross domestic product D) Net domestic product

Discuss

Answer & Solution

Answer: Option D

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

An income-demand curve for a "Luxury Commodity" slopes-

A) upward to the right from the origin B) vertically C) upwards from left to right only beyond a certain level of consumer's income D) horizontally

Discuss

Answer & Solution

Answer: Option C

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

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Economics MCQ Questions and Solutions with Explanations | Commerce