Economics MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10 Section 11 Section 12 Section 13 Section 14 Section 15 Section 16

51.
Economies of scale are of two kinds

A. Temporary and permanent

B. Internal and external

C. Managerial and industrial

D. Natural and artificial

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52.
Which statement is true

A. ATC + AVC = AFC

B. ATC + MC = AFC

C. ATC + AFC = AVC

D. AFC + AVC = ATC

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53.
Identify the economist who had little formal education and started working in the money market at an early age of fourteen.

A. David Ricardo

B. Adam Smith

C. V.F.D. Pareto

D. A.A. Cournot

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54.
In which form, the largest percentage of national income is earned?

A. Interest income

B. Proprietor's income

C. Employee' wages

D. Rental income

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55.
Law of return applies to firms working in

A. Perfect competition

B. Monopoly

C. Small firm

D. All kinds of market situations

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56.
Which is NOT a cause of shift in cost curves of a firm?

A. Excise tax

B. Prices of inputs

C. Increase in productivity

D. Price of product

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57.
Who first raised the fear of a world food shortage?

A. David Ricardo

B. T.R.Malthus

C. J.S.Mill

D. J.B.Say

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58.
The minimum wage is an example of

A. Price floor

B. Price ceiling

C. Equilibrium wage

D. Efficiency of labour

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59.
During short period, diminishing returns may follow because

A. Quantity of labour is fixed

B. Quantity of output is fixed

C. Quantity of capital is fixed

D. Quantity of any one factor is fixed

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60.
MC is given by

A. Slope of TFC

B. Slope of TC

C. Slope of AC

D. None of the above

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Economics MCQ Questions and Solutions with Explanations | Commerce

51. Economies of scale are of two kinds

Answer & Solution

52. Which statement is true

Answer & Solution

53. Identify the economist who had little formal education and started working in the money market at an early age of fourteen.

Answer & Solution

54. In which form, the largest percentage of national income is earned?

Answer & Solution

55. Law of return applies to firms working in

Answer & Solution

56. Which is NOT a cause of shift in cost curves of a firm?

Answer & Solution

57. Who first raised the fear of a world food shortage?

Answer & Solution

58. The minimum wage is an example of

Answer & Solution

59. During short period, diminishing returns may follow because

Answer & Solution

60. MC is given by

Answer & Solution

Read More Section(Economics)

51.
Economies of scale are of two kinds

52.
Which statement is true

53.
Identify the economist who had little formal education and started working in the money market at an early age of fourteen.

54.
In which form, the largest percentage of national income is earned?

55.
Law of return applies to firms working in

56.
Which is NOT a cause of shift in cost curves of a firm?

57.
Who first raised the fear of a world food shortage?

58.
The minimum wage is an example of

59.
During short period, diminishing returns may follow because

60.
MC is given by