Economics MCQ Questions and Solutions with Explanations | Commerce

A. An increase in the price of Y

B. An increase in the price of Y, a complement in the production of Y

C. An improvement in the technology producing Y

D. A reduction in the price of resources in producing Y

A. The total output of the variable factor starts decreasing

B. Marginal output of the variable factor starts decreasing

C. Average output of the variable factor starts decreasing

D. None of the above

A. MTNL

B. Modern Food Industries

C. BSNL

D. Bharat Aluminum Corporation Limited

A. A large number of firms

B. Perfect mobility of factors

C. Price is determined by industry not by individual firm

D. Individual seller/buyer can influence price in the market

A. Consumer goods

B. Capital goods

C. Intermediary goods

D. None of these

A. moves downwards towards the axis

B. moves upwards away from the axis

C. remains unchanged

D. all of the above

A. Planning commission

B. Central statistical organization (CSO)

C. Indian statistical institue

D. Finance commission

A. the demand for a commodity

B. the supply of a commodity

C. the demand and supply of a commodity

D. the relationship between one dependent variable and one or more independent variables

A. Gross national product

B. Net national product

C. Gross domestic product

D. Net domestic product

A. upward to the right from the origin

B. vertically

C. upwards from left to right only beyond a certain level of consumer's income

D. horizontally