Economics MCQ Questions and Solutions with Explanations | Commerce

A. Net national product = total national product - Depreciation + indirect tax

B. Net national product = total national product - Depreciation - indirect tax

C. Net national product = total national product - Depreciation

D. Net national product = total national product - indirect tax

A. Public transport system

B. Pension

C. National security

D. Education

A. brings down wages

B. increases wages

C. itself insufficient to raise investment

D. is always due to central bank's order to the entire money market

A. utility is at a maximum with the first unit

B. increasing units of consumption increase the marginal utility

C. marginal product will fall as more units are consumed

D. total utility will rise at a falling rate as more units are consumed

A. monopoly

B. oligopoly

C. monopsony

D. duopoly

A. The cost of availing an opportunity

B. The cost of advantage forgone

C. The situational cost

D. Cost of speculative activities

E. The minimum cost to carry out a project

A. Only 1

B. Both 1 and 2

C. Only 3

D. All of the above

A. Increase in the price of petrol

B. Payments of interest on foreign debts

C. Liberalization of imports

D. All of the above

A. Both statements are correct

B. Both statements are incorrect

C. Statement I is correct, Statement II is incorrect

D. Statement I is incorrect, Statement II is correct

A. Improving quality and adding new features

B. Adding new models of product

C. Entering new market segments

D. Using awareness and trial communications