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-7 section-10

Each section contains 100 MCQs on Economics .

Tobin tax is one of the applicable to

A) Export B) Import C) Transactions in foreign exchange D) Sales

Discuss

Answer & Solution

Answer: Option C

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

Which one is the technique of measuring elasticity of demand?

A) Total outlay method B) Arc method C) Point method D) All of these

Discuss

Answer & Solution

Answer: Option D

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

Cross demand is the change in the quantity demanded of a given commodity in response to the

A) change in the Utility of another commodity B) change in the price of another commodity C) change in the nature of another commodity D) change in the size of another commodity

Discuss

Answer & Solution

Answer: Option B

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

Which of the following pairs is not correctly matched?

A) Adam Smith ⇔ The wealth of nations B) Canon ⇔ Funds C) Marshall ⇔ Principle of economics D) Robbins ⇔ Political economy

Discuss

Answer & Solution

Answer: Option B

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

The costs that depend on the output in the short run are

A) Total variable cost B) Both, total variable costs and total costs C) Total cost only D) Total fixed cost only

Discuss

Answer & Solution

Answer: Option A

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

According to Malthus population grows

A) Arithmetically B) Geometrically C) At constant rate D) None of the above

Discuss

Answer & Solution

Answer: Option B

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

When average cost falls, as a result of increase in output the marginal cost is:

A) More than average cost B) Less than average cost C) Equal to average cost D) None of the above

Discuss

Answer & Solution

Answer: Option B

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

Income elasticity is computed by the formula

A) $${e_i} = \frac{{{Q_1} - {Q_2}}}{{{P_1}}}$$ B) $${e_i} = \frac{{\frac{{{Q_2} - {Q_1}}}{{{Q_1}}}}}{{\frac{{{Y_2} - {Y_1}}}{{{Y_1}}}}}$$ C) $${e_i} = \frac{{{Q_2} - {Q_1}}}{{{Q_1}}} \times \frac{{{Y_1}}}{{{Y_2} - y}} \times 100$$ D) $${e_i} = \frac{{{Y_1} - {Q_1}}}{{{Y_2} - {Q_2}}}$$

Discuss

Answer & Solution

Answer: Option B

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

'Extra - mural' activities relates to:

A) Safety B) Welfare C) Health D) None of these

Discuss

Answer & Solution

Answer: Option B

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

Cross elasticity of complementary goods is

A) negative B) zero C) infinite D) unitary

Discuss

Answer & Solution

Answer: Option A

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

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Economics MCQ Questions and Solutions with Explanations | Commerce