Economics MCQ Questions and Solutions with Explanations | Commerce

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91.
Assume a production function Y = L^α K^{1 - α} (Y = output, L = labour and K = Capital) for a firm in a purely competitive market. Which one of the following would measure the share of labour in output?

A. α

B. L(α)

C. L^α

D. α/L

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92.
Which of the following is not a national debt?

A. Provident fund

B. Life insurance certificate

C. National savings certificate

D. Long term government bonds

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93.
In which market the firm cannot determine the price

A. Perfect competition

B. Monopoly

C. Monopolistic competition

D. Oligopolistic

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94.
Match the following.

List-I List-II

a. AP × L 1. Marginal product

b. TU_n - TU_{n - 1} 2. Marginal utility

c. TP_n - TP_{n - 1} 3. Total product

A. a-1, b-2, c-3

B. a-3, b-2, c-1

C. a-2, b-3, c-1

D. a-2, b-1, c-3

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95.
Who is called Father of Economics?

A. Max Muller

B. Karl Marx

C. Adam Smith

D. Samuelson

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96.
Monopolistic competition means-

A. large number of producers and products are homogeneous

B. small number of producers and products are homogeneous

C. large number of producers with product differentiation

D. small number of producers with product differentiation

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97.
The reason for slowdown in industrial development in India

A. Shortage of electricity

B. Labour unrest

C. Lack of capital

D. All of the above

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98.
Classical conditioning is a theory of:

A. Perecption

B. Learning

C. Attitude

D. Behaviour

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99.
Cobb-Douglas production function mainly studies

A. Capital and labour

B. Labour and entrepreneur

C. Land and labour

D. Land and capital

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100.
Which of the following characteristics should be in an entrepreneur

A. Innovation

B. Risk bearing

C. To intiate

D. All of the above

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1 2 3 4 5 6 7 8 9 10

List-I	List-II
a. AP × L	1. Marginal product
b. TU_n - TU_{n - 1}	2. Marginal utility
c. TP_n - TP_{n - 1}	3. Total product

Economics MCQ Questions and Solutions with Explanations | Commerce

91. Assume a production function Y = Lα K1 - α (Y = output, L = labour and K = Capital) for a firm in a purely competitive market. Which one of the following would measure the share of labour in output?

Answer & Solution

92. Which of the following is not a national debt?

Answer & Solution

93. In which market the firm cannot determine the price

Answer & Solution

94. Match the following. List-I List-II a. AP × L 1. Marginal product b. TUn - TUn - 1 2. Marginal utility c. TPn - TPn - 1 3. Total product

Answer & Solution

95. Who is called Father of Economics?

Answer & Solution

96. Monopolistic competition means-

Answer & Solution

97. The reason for slowdown in industrial development in India

Answer & Solution

98. Classical conditioning is a theory of:

Answer & Solution

99. Cobb-Douglas production function mainly studies

Answer & Solution

100. Which of the following characteristics should be in an entrepreneur

Answer & Solution

Read More Section(Economics)

91.
Assume a production function Y = L^α K^{1 - α} (Y = output, L = labour and K = Capital) for a firm in a purely competitive market. Which one of the following would measure the share of labour in output?

92.
Which of the following is not a national debt?

93.
In which market the firm cannot determine the price

94.
Match the following.

List-I List-II

a. AP × L 1. Marginal product

b. TU_n - TU_{n - 1} 2. Marginal utility

c. TP_n - TP_{n - 1} 3. Total product

95.
Who is called Father of Economics?

96.
Monopolistic competition means-

97.
The reason for slowdown in industrial development in India

98.
Classical conditioning is a theory of:

99.
Cobb-Douglas production function mainly studies

100.
Which of the following characteristics should be in an entrepreneur