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-4 section-15

Each section contains 100 MCQs on Economics .

Excess capacity is NOT noticed in which of the following market conditions?

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

Discuss

Answer & Solution

Answer: Option D

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

National income on market value is

A) Adding the amount of indirect tax from the payment of all the factors B) Adding the payments of all the factors in a year C) Equal to national income at factor cost D) Gross national production deterioration

Discuss

Answer & Solution

Answer: Option A

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

Generally, the general budget of the country is presented in the parliament

A) By the Prime Minister B) By the Minister of industry C) By the Foreign Minister D) By the Finance Minister

Discuss

Answer & Solution

Answer: Option D

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

Which of the following statement accurately describes the relationship between AP and MP?

A) AP rises when MP is above it, and falls when MP is below it B) MP intersects AP at its minimum point C) AP is always rising when MP is falling and vice versa D) None of the above

Discuss

Answer & Solution

Answer: Option A

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

Consider the following statements.
1. Demand is always related to price and time.
2. Individual demand is the sum total of individual demand function.
3. Demand is desire/want back of money.
Which of the statement(s) given above is/are correct?

A) Both 1 and 2 B) Only 1 C) Only 2 D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

The slope of the average revenue curve in a monopoly will be

A) Downward from left to right B) Upward from left to right C) Horizontally parallel straight line D) Vertical straight line

Discuss

Answer & Solution

Answer: Option A

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

Which of the following statements are incorrect?
i. Malthus population theory does not directly depend on the diminishing return law
ii. The principle of optimum population compared population with food grains
iii. The point of optimum population is fixed
Select the answer

A) Only i B) Only ii and iii C) Only i and ii D) All of the above

Discuss

Answer & Solution

Answer: Option B

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

Match the following.

List-I	List-II
a. "What is"	1. Micro-economics
b. "What ought to be"	2. Macro-economics
c. Aggregates	3. Positive economics
d. Individual units	4. Normative economics

A) a-3, b-2, c-4, d-1 B) a-3, b-4, c-2, d-1 C) a-4, b-3, c-1, d-2 D) a-1, b-4, c-3, d-2

Discuss

Answer & Solution

Answer: Option B

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

In the short run a firm in perfect competition can vary-

A) scale of output B) scope of perations C) structure of technology mix D) variable inputs

Discuss

Answer & Solution

Answer: Option D

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

The 'Kinked demand curve approach' is related to

A) Price differentiation B) Flexibility of price C) Inflexibility of price/price rigidity D) Double price policy

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