Economics MCQ Questions and Solutions with Explanations | Commerce

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81.
If two goods are complements, this means that a rise in the price of one commodity will induce

A. an upward shift in demand for the other commodity

B. a rise in the price of the other commodity

C. a downward shift in demand for the other commodity

D. no shift in demand for the other commodity

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82.
Marginal revenue, at the quantity that generates maximum total revenue and negative beyond that point, has the value of

A. zero

B. +1

C. -1

D. infinite

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83.
The characteristics of monopolistic competition due to which the point of a firm becomes zero in the long run is

A. Commodity discrimination

B. Value leadership

C. Market power

D. Free admission

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84.
When Goods are imported for the purpose of export, it is called

A. Import

B. Export

C. Entrepot

D. Foreign Trade

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85.
Which one of the following industrial relations approach believes in state intervention via legislation and the creation of industrial tribunals as supporting management's interest rather than ensuring a balance between the competing groups?

A. Unitary approach

B. Pluralistic approach

C. Marxist approach

D. Judiciary approach

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86.
Which of the following feature is common to both, perfectly competitive markets and monopolistically competitive markets?

A. Firms produce homogeneous goods

B. Prices are equal to marginal

C. Long-run profits are zero

D. Prices are above marginal cost in the long run

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87.
The firm's short-run marginal-cost curve is increasing when

A. The marginal product is increasing

B. The marginal product is decreasing

C. The total fixed cost is increasing

D. The average fixed is increasing

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88.
Match the following.

List-I List-II

a. Perfect competition 1. Less elastic

b. Monopoly 2. Ed = ∞ (Straight line horizontal)

c. Monopolistic competition 3. Indeterminate

d. Oligopoly 4. More elastic

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

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

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

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

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89.
In which year was the first industrial policy proposal made?

A. 1947

B. 1948

C. 1949

D. 1950

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90.
What is the supply curve of labour towards the industrial sector in countries whose population growth has helped in the development of their economies?

A. Elastic

B. Inelastic

C. Infinite elastic

D. Less elastic

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1 2 3 4 5 6 7 8 9 10

List-I	List-II
a. Perfect competition	1. Less elastic
b. Monopoly	2. Ed = ∞ (Straight line horizontal)
c. Monopolistic competition	3. Indeterminate
d. Oligopoly	4. More elastic

Economics MCQ Questions and Solutions with Explanations | Commerce

81. If two goods are complements, this means that a rise in the price of one commodity will induce

Answer & Solution

82. Marginal revenue, at the quantity that generates maximum total revenue and negative beyond that point, has the value of

Answer & Solution

83. The characteristics of monopolistic competition due to which the point of a firm becomes zero in the long run is

Answer & Solution

84. When Goods are imported for the purpose of export, it is called

Answer & Solution

85. Which one of the following industrial relations approach believes in state intervention via legislation and the creation of industrial tribunals as supporting management's interest rather than ensuring a balance between the competing groups?

Answer & Solution

86. Which of the following feature is common to both, perfectly competitive markets and monopolistically competitive markets?

Answer & Solution

87. The firm's short-run marginal-cost curve is increasing when

Answer & Solution

88. Match the following. List-I List-II a. Perfect competition 1. Less elastic b. Monopoly 2. Ed = ∞ (Straight line horizontal) c. Monopolistic competition 3. Indeterminate d. Oligopoly 4. More elastic

Answer & Solution

89. In which year was the first industrial policy proposal made?

Answer & Solution

90. What is the supply curve of labour towards the industrial sector in countries whose population growth has helped in the development of their economies?

Answer & Solution

Read More Section(Economics)

81.
If two goods are complements, this means that a rise in the price of one commodity will induce

82.
Marginal revenue, at the quantity that generates maximum total revenue and negative beyond that point, has the value of

83.
The characteristics of monopolistic competition due to which the point of a firm becomes zero in the long run is

84.
When Goods are imported for the purpose of export, it is called

85.
Which one of the following industrial relations approach believes in state intervention via legislation and the creation of industrial tribunals as supporting management's interest rather than ensuring a balance between the competing groups?

86.
Which of the following feature is common to both, perfectly competitive markets and monopolistically competitive markets?

87.
The firm's short-run marginal-cost curve is increasing when

88.
Match the following.

List-I List-II

a. Perfect competition 1. Less elastic

b. Monopoly 2. Ed = ∞ (Straight line horizontal)

c. Monopolistic competition 3. Indeterminate

d. Oligopoly 4. More elastic

89.
In which year was the first industrial policy proposal made?

90.
What is the supply curve of labour towards the industrial sector in countries whose population growth has helped in the development of their economies?