Economics MCQ Questions and Solutions with Explanations | Commerce

A. Export

B. Import

C. Transactions in foreign exchange

D. Sales

A. Total outlay method

B. Arc method

C. Point method

D. All of these

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

A. Adam Smith ⇔ The wealth of nations

B. Canon ⇔ Funds

C. Marshall ⇔ Principle of economics

D. Robbins ⇔ Political economy

A. Total variable cost

B. Both, total variable costs and total costs

C. Total cost only

D. Total fixed cost only

A. Arithmetically

B. Geometrically

C. At constant rate

D. None of the above

A. More than average cost

B. Less than average cost

C. Equal to average cost

D. None of the above

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. $${e_i} = \frac{{{Y_1} - {Q_1}}}{{{Y_2} - {Q_2}}}$$

A. Safety

B. Welfare

C. Health

D. None of these

A. negative

B. zero

C. infinite

D. unitary