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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-6

Each section contains 100 MCQs on Economics .
31
The increase in total output by employing a new worker is called
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Answer: Option B
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32
Two goods have to be consumed simultaneously are
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Answer: Option B
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33
Which statement is correct?
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Answer: Option C
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34
Match the following.
List-I (Characteristics of Perfect Competition) List-II (Explanations)
a. Many small sellers 1. No seller is able to exert a significant influence over price
b. Many small buyers 2. No buyer's is able to exert a significant influence over price
c. Product undifferentiated 3. Decision to buy are made on the basis of price
d. Easy entry and exit 4. Resources are easily transferable among industries
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Answer: Option D
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35
The inverse relationship between the variation in the price and the variation in the quantity demanded in not due to
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Answer: Option B
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36
In the short run, when the output of a firm increases, its average fixed cost
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Answer: Option B
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37
Leontief isoquant is
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Answer: Option D
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38
A demand curve which is parallel to x-axis displays elasticity
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Answer: Option A
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39
Which of the following is not true for forecasting?
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Answer: Option D
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40
From the following two statements of Assertion (A) and Reason (R), indicate the correct answer.
Assertion (A) From the marginal costing approach point of view, the marginal cost is compared with the purchase price.
Reason (R) If the marginal cost is less than the purchase price it should be purchased rather than manufactured.
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Answer: Option D
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