Economics MCQ Questions and Solutions with Explanations

Home

Competitive Exams MCQs

Aptitude English Verbal Reasoning Non Verbal Reasoning General Knowledge(GK) General Science(GS) Data Interpretation(DI) Banking Awareness Current Affairs

Computer Fundatmental MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Python AI(Artificial Intelligence)

Engineering Subjects MCQs

Computer Science Electronics & Communication Mechanical Engineering Civil Engineering Electrical Engineering

More Engineering MCQs

Chemical Engineering Automobile Engineering Biotechnology Mining Engineering Geological Engineering Metallurgical Engineering

Engineering Core

Engineering Mathematics Engineering Physics Engineering Chemistry

Computer Fundamentals MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Networking Database SQL MySQL

Programming MCQs

C Programming C++ Programming Java Python PHP JavaScript

Advanced Programming MCQs

Artificial Intelligence Machine Learning Data Science Cloud Computing Hadoop IoT

Graduation & PG

Commerce Management Law Agriculture Sociology Psychology Home Science Mass Communication Political Science Psychology

Resources

Current Affairs Interview Blog

Exam Categories

SSC Exams Railway Exams All Exams

SSC Exams

SSC CGL SSC CHSL SSC MTS SSC CPO SSC GD SSC JHT SSC Selection Post SSC Stenographer SSC JE

Railway Exams

RRB ALP RRB Technician RRB Section Controller RRB JE RRB Paramedical RRB Group D

Popular Exams

SSC CGL SSC CHSL SSC MTS RRB NTPC (Graduate) RRB Group D RRB ALP RRB Technician RRB Section Controller

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-9

Each section contains 100 MCQs on Economics .

In which year did Amartya Sen receive the nobel prize for economics?

A) 1998 B) 1994 C) 1990 D) 1988

Discuss

Answer & Solution

Answer: Option A

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

Type(s) of income elasticity of demand is/are

A) negative income elasticity B) zero income elasticity C) unit income elasticity D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

The consumer is in equilibrium, maximizing his total utility, when

A) The marginal utility of the two goods consumed is equal B) The proportion of the marginal utility and the respective price is equal C) The consumer gets satisfaction from the consumption D) The consumer is satisfied with his expenditure on various goods

Discuss

Answer & Solution

Answer: Option B

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

What is the nature of elasticity of demand for luxury item like high class furnitures?

A) Unit elastic B) Highly elastic C) Fairly elastic D) Zero elastic

Discuss

Answer & Solution

Answer: Option B

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

Out of the following which is not a major component of Gross Domestic Product (GDP)?

A) Personal Consumption Expenditure B) Gross Private Domestic Investment C) Net Personal Income D) Net Exports

Discuss

Answer & Solution

Answer: Option A

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

State the true statement?

A) Iso-product curve is a description of ridge curves B) Iso-production curve is not a description of ridge curves C) There is no relation between iso-production curve and ridge curves D) All the above statements are false

Discuss

Answer & Solution

Answer: Option A

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

Which of the following pair(s) is/are not correct?

A) Under perfect competition, demand curve is perfectly elastic B) Under monopoly, demand curve is relatively more elastic C) Both A and B D) All of the above

Discuss

Answer & Solution

Answer: Option B

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

MU curve will intersect x-axis when

A) MU is negative B) TU is maximum C) Both A and B D) None of these

Discuss

Answer & Solution

Answer: Option C

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

In a market economy, the price system provides all of the following except which one?

A) Signals to consumers B) Incentives to producers C) A means of allocating scarce resources D) A store of value

Discuss

Answer & Solution

Answer: Option D

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

If the price of good changes, but everything else influencing the supplier-planned sales remains constant, there is

A) Rotation of the initial supply curve around the initial price B) New supply curve to the right of the initial supply curve C) New supply curve to the left of the initial supply curve D) Movement along the supply curve

Discuss

Answer & Solution

Answer: Option D

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

1 2 3 4 5 6 7 8 9 10

Economics MCQ Questions and Solutions with Explanations | Commerce