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-8 section-16

Each section contains 100 MCQs on Economics .

The duty which is imposed on import and export of goods is called

A) Excise duty B) Custom duty C) Purchase and Sale duty D) Trade duty

Discuss

Answer & Solution

Answer: Option B

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

Which of the following curve shows the firm's lowest cost per unit at each level of output?

A) Long-run average cost curve B) Short-run average cost curve C) Long-run marginal cost curve D) Long-run total fixed cost curve

Discuss

Answer & Solution

Answer: Option A

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

A consumer get maximum satisfaction where the . . . . . . . . are same.

A) total utility and marginal utility B) price of commodity and marginal utility C) price of commodity and total utility D) both B and C

Discuss

Answer & Solution

Answer: Option B

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

Sex ratio over years in India

A) changed in favour of women B) has not changed C) valid against women D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

Fixed cost with increase in per unit output

A) Decreases B) Increases C) Fixed/remain constant D) Variable

Discuss

Answer & Solution

Answer: Option A

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

A monopolist does not have a-

A) demand curve B) supply curve C) indifference curve D) isoquant

Discuss

Answer & Solution

Answer: Option B

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

Marginal cost curve intersects the average cost curve

A) To the left of its lowest point B) At its lowest point C) To the right of its lowest point D) At its maximum point

Discuss

Answer & Solution

Answer: Option B

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

Demand for comforts is:

A) highly elastic B) elastic C) inelastic D) None of the above

Discuss

Answer & Solution

Answer: Option B

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

Which one of the following assumptions is NOT correct for the revealed preference analysis?

A) Consistency B) Transitivity C) Rationality D) Weak ordering

Discuss

Answer & Solution

Answer: Option D

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

In which market structure, the demand is perfectly elastic?

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

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