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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-4 section-14

Each section contains 100 MCQs on Economics .
31
Match List-I with List-II and select the correct answer-
List-I List-II
a. MRSxy = Zero 1. Right-angled
b. MRSxy = Constant but non-zero 2. Straight line with negative slope
c. Decreasing MRSxy 3. IC is concave to the origin
d. Increasing MRSxy 4. IC is convex to the origin
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
32
Which of the following statement is true in relation to Indian Agriculture?
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
33
The short-run supply curve of a perfectly competitive firm
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
34
If the price-consumption curve is horizontal, the price-elasticity of demand for X [the price of which falls] would be
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
35
Which of the following statements are true according to Prof. Schumpeter about a monopolist?
1. Monopolies are inefficient.
2. Monopoly profits acts as an incentive for innovation.
3. AR is equal to MR.
Select the correct answer
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
36
Find out from the following table by which law the firm is working-
Units of input Total production
1 10
2 25 Law of increasing returns
3 50
4 85
5 135
6 135 Origin parity rule
7 130 Law of diminishing returns
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
37
Demand is elastic when
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board
38
With reference to theories of interest, match List-I with List-II
List-I List-II
a. Time Preference Theory 1. Keynes
b. Classical Theory 2. Fisher
c. Loanable Fund Theory 3. Marshall
d. Liquidity Preference theory 4. Wicksell
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
39
An iso-cost line represents
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
40
Consider the following statements and identify the right ones:
1. According to the theory of demographic transition in the first stage, birth rate is low but death rate is high.
2. The difference between them is high.
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board