Economics MCQ Questions and Solutions with Explanations | Commerce

A. Arithmetically

B. Algebraically

C. Geometrically

D. At constant rate

A. extravagant

B. scarce

C. unlimited

D. restricted

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

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

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

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

A. upwards to the right

B. downwards to the right

C. upwards to the left

D. horizontally

A. goods into high and low elasticity of demand

B. goods into necessaries and luxuries

C. goods into high price and low price

D. price effect into substitution and income effect

A. I and IV

B. II and IV

C. II and III

D. I and III

A. in perfect competition, firms can differentiate their products

B. in monopolistic competition, firms can differentiate their products

C. in monopolistic competition, there are relatively few firms

D. in perfect competition, there are no barriers to entry

A. An advertising campaign by holiday-tour operators

B. A fall in the disposable income of consumers

C. A rise in the price of domestic holidays

D. Arise in the exchange rate for the domestic currency

A. A social science

B. A personal science

C. Both A and B

D. None of these

A. Increasing

B. Decreasing

C. Constant

D. None of these