Economics MCQ Questions and Solutions with Explanations | Commerce

A. One

B. Three

C. Four

D. Five

A. First

B. Second

C. Third

D. Fifth

A. change in quantity demanded

B. change in demand

C. increase or decrease in demand

D. None of the above

A. monetary theory

B. law of demand

C. partial equilibrium theory

D. all of the above

A. Moor

B. Marshall

C. Robert Triffin

D. None of these

A. Upper point

B. Lower point

C. Middle point

D. Do not intersect

A. $$M{U_x},\,{P_x} = M{U_y},\,{P_y} = M{U_z},\,{P_z}$$

B. $$\frac{{M{U_x}}}{{{P_x}}} = \frac{{M{U_y}}}{{{P_y}}} = \frac{{M{U_z}}}{{{P_z}}} = M{U_m}$$

C. $$\frac{{M{U_x}}}{{{P_y}}} = \frac{{M{U_y}}}{{{P_x}}} = M{U_m}$$

D. $$\frac{{M{U_x}}}{{{P_x}}} < \frac{{M{U_y}}}{{{P_y}}} < \frac{{M{U_z}}}{{{P_z}}}$$

A. varies directly with price

B. varies proportionately with price

C. varies inversely with price

D. is independent of price

A. what this factor can earn in its next best use

B. the sum of what this factor earns in its current use and what it can earn in its next best use

C. its current earnings

D. the difference between what this factor is currently earning and what it can earn in its next best use

A. transformation curve

B. grand utility possibility curve

C. consumption contract curve

D. social welfare function