Economics MCQ Questions and Solutions with Explanations | Commerce

A. Both A and R are true and R is the correct explanation of A

B. Both A and R are true, but R is not a correct explanation of A

C. A is true, but R is false

D. A is false, but R is true

A. Total utility

B. Marginal utility

C. Additional utility

D. Derived utility

A. National Sample Survey Organisation

B. Central Statistical Organisation

C. Registrar General and Census Commissioner

D. None of the above

A. unrelated goods

B. substitutes

C. complements

D. normal goods

A. a-5, b-3, c-4, d-1, e-2

B. a-4, b-1, c-3, d-2, e-5

C. a-5, b-1, c-2, d-3, e-4

D. a-3, b-2, c-4, d-1, e-5

A. Less than variable cost

B. Equal to variable cost

C. Equal to average cost

D. None of the above

A. inelastic

B. elastic

C. unity

D. None of these

A. an activity undertaken by a firm to increase demand

B. a problem with quality control that tends to decrease demand

C. an activity undertaken by a firm to make demand more price inelastic

D. None of the above

A. complementary goods

B. substitute goods

C. inferior goods

D. abnormal goods

A. studies human behaviour

B. relationship between ends and scares resources

C. scarce means have alternate uses

D. All of the above