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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-6 section-5

Each section contains 100 MCQs on Economics .
51
The minimum Long Run Average Cost (LAC) can be determined on a
I. LAC curve for a normal production function
II. LAC curve for a linear production function
III. Planning curve
IV. Envelope curve
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
52
Price under perfect competition will rise as the demand falls when the production is subject to
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
53
1991 crisis in India economy was originated from:
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
54
Which of the following statement is/are correct?
1. Indifference curves slope downwards to the right
2. Indifference curves can never intersect each other
Select the correct answer
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
55
For a multi market seller the rule for optimisation is to equate-
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
56
When the first five year plan was started in India?
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
57
Which one of the following statements is an apt reflection of J. R. Hick's Indifference curve Analysis of demand?
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
58
When electronic markets permit prices to change faster even daily as a function of demand and supply then this practice is called:
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
59
If the demand curve of the firm is like to the demand curve of the industry, then the firm will be
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
60
Which equation is correct in the case of monopoly?
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board