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-6 section-14

Each section contains 100 MCQs on Economics .

In the short period, monopolist firm's equilibrium is at

A) Break-even point B) AR > AC C) AR < AC D) All of these

Discuss

Answer & Solution

Answer: Option D

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

Fiscal policy is related to

A) Export and Import B) Public revenue and expenditure C) Issue of currency D) Control of population

Discuss

Answer & Solution

Answer: Option B

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

A welfare loss occurs in monopoly where

A) the price is greater than the marginal cost B) the price is greater than the marginal benefit C) the price is greater than the average revenue D) the price is greater than the marginal revenue

Discuss

Answer & Solution

Answer: Option A

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

Which of the following statement(s) is/are incorrect?

A) There exists an inverse relationship between demand for commodity and its price in case of complementary goods B) There exists direct relationship between demand for commodity and its price in case of substitute goods C) Both A and B D) None of the above

Discuss

Answer & Solution

Answer: Option A

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

The monopolist maximises profit by producing and selling their output at that point on which its

A) Marginal revenue is greater than marginal cost B) Marginal cost and marginal revenue both are equal C) Marginal cost is greater than marginal revenue D) Marginal revenue is greater than average revenue

Discuss

Answer & Solution

Answer: Option B

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

An indifference curve shows

A) Affordable combination of goods B) The relative price of one good to another C) Consumption possibilities that a consumer faces at different price and income D) Different combination of two goods among which the consumer is indifferent

Discuss

Answer & Solution

Answer: Option D

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

If production is zero, then fixed cost for short term will be

A) Positive B) Negative C) Zero D) None of these

Discuss

Answer & Solution

Answer: Option A

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

If MC is above AC at a time when output is rising, then

A) ATC is falling B) AVC is rising C) AVC is falling D) ATR is rising

Discuss

Answer & Solution

Answer: Option B

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

Demand curve of a normal goods is

A) graphical presentation of law of demand B) slopes downward C) explain the relation between price and demand D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

The marginal revenue curve in monopoly

A) equals the demand curve B) is parallel with the demand curve C) lies below and converges with the demand curve D) lies below and diverges from the demand curve

Discuss

Answer & Solution

Answer: Option D

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

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Economics MCQ Questions and Solutions with Explanations | Commerce