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-1 section-11
Which of the following could provide an example of exceptional demand curves?
1. Demand for "Giffen goods"
2. Demand based on fears of a future rise in prices
3. Demand for second-hand clothes
4. Demand for daily newspapers
Select the right answer:
Assertion (A): Consumer's surplus is the difference between the potential price and the actual price. Reason (R): There exists an inverse relationship between the price and the consumer's surplus.
Which one of the following growth models includes the population growth function?
I. Classical model
II. Harrod-Domar model
III. Neo-classical model
IV. Schumpeter model
