Economics MCQ Questions and Solutions with Explanations | Commerce

A. Monopoly

B. Monopolistic competition

C. Oligopoly

D. Perfect competition

A. Adding the amount of indirect tax from the payment of all the factors

B. Adding the payments of all the factors in a year

C. Equal to national income at factor cost

D. Gross national production deterioration

A. By the Prime Minister

B. By the Minister of industry

C. By the Foreign Minister

D. By the Finance Minister

A. AP rises when MP is above it, and falls when MP is below it

B. MP intersects AP at its minimum point

C. AP is always rising when MP is falling and vice versa

D. None of the above

A. Both 1 and 2

B. Only 1

C. Only 2

D. All of the above

A. Downward from left to right

B. Upward from left to right

C. Horizontally parallel straight line

D. Vertical straight line

A. Only i

B. Only ii and iii

C. Only i and ii

D. All of the above

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

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

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

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

A. scale of output

B. scope of perations

C. structure of technology mix

D. variable inputs

A. Price differentiation

B. Flexibility of price

C. Inflexibility of price/price rigidity

D. Double price policy