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-9

Each section contains 100 MCQs on Economics .

Which of the following is not ensured to the consumer in the globalization?

A) Lower prices B) Better selection C) Clear origin of goods and services D) Improved services

Discuss

Answer & Solution

Answer: Option C

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

The meaning of Barter

A) Selling goods in cash B) Selling goods on credit C) Replacement of goods with goods D) Selling the goods in installments

Discuss

Answer & Solution

Answer: Option C

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

An increase in the number of fast-food restaurants

A) Increases the demand for substitutes for fast-food meals B) Raises the prices of fast-food meals C) Increases the supply of fast-food meals D) Increases the demand for fast-food meals

Discuss

Answer & Solution

Answer: Option C

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

In the case of an inferior good

A) substitution and income effects are positive B) positive substitution effect is equal to the negative income effect C) substitution effect is positive and income effect is negative D) substitution and income effects are negative

Discuss

Answer & Solution

Answer: Option D

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

The MU_x/MU_y ratio is 10 and the P_x/P_y ratio is 8, so the consumer should buy

A) less X and more Y B) more X and less Y C) more X and more Y D) less X and less Y

Discuss

Answer & Solution

Answer: Option B

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

From which Five Year Plan "Growth with Social Justice" has received emphasis?

A) Fifth B) Sixth C) Seventh D) Tenth

Discuss

Answer & Solution

Answer: Option C

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

According to Keynes, investment means

A) Buying out existing factories B) Buying shares in the existing firm C) Buying an old building D) Establishment of new factory

Discuss

Answer & Solution

Answer: Option D

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

The market price of a commodity in the long run is equal to the minimum average cost of its production, when it is in the market

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

Discuss

Answer & Solution

Answer: Option A

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

In which economy, the consumer is called 'the Emperor'?

A) Socialism B) Mixed C) Capitalism D) None of these

Discuss

Answer & Solution

Answer: Option C

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

Elasticity of demand is . . . . . . . .

A) Qualitative statement B) Quantitative statement C) Both (Qualitative & Quantitative statements) D) None of these

Discuss

Answer & Solution

Answer: Option B

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

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Economics MCQ Questions and Solutions with Explanations | Commerce