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

131.
Demand curve can be derived from

A. MU curve

B. PCC

C. Both 'a' and 'b'

D. None

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132.
The exception to law of demand is

A. Veblen goods

B. Giffen goods

C. Both 'a' and 'b'

D. None

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133.
The upper portion of the kinked demand curve is relatively

A. More inelastic

B. More elastic

C. Less elastic

D. Inelastic

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134.
Price discrimination is not possible in case of

A. Perfect competition

B. Monopoly

C. Monopolistic competition

D. Oligopoly

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135.
If the income elasticity is greater than one, the commodity is

A. Necessity item

B. Luxury item

C. Inferior good

D. None

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136.
The 'Diamond water' controversy is explained by

A. Total utility

B. Marginal utility

C. Price offered

D. Quantity supplied

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137.
Which of the following are sources of growth?

A. Natural resources

B. Human capital

C. Physical capital

D. All of the above

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138.
The IC curve approach assumes

A. Rationality

B. Consistency

C. Transitivity

D. All of the above

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139.
A higher indifference curve shows

A. A higher level of satisfaction

B. A higher level of production

C. A higher level of income

D. None of the above

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140.
In the case of two perfect substitutes, the indifference curve will be

A. Straight line

B. L-shaped

C. U-shaped

D. C-shaped

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Economics MCQ Questions and Solutions with Explanations | Commerce

131. Demand curve can be derived from

Answer & Solution

132. The exception to law of demand is

Answer & Solution

133. The upper portion of the kinked demand curve is relatively

Answer & Solution

134. Price discrimination is not possible in case of

Answer & Solution

135. If the income elasticity is greater than one, the commodity is

Answer & Solution

136. The 'Diamond water' controversy is explained by

Answer & Solution

137. Which of the following are sources of growth?

Answer & Solution

138. The IC curve approach assumes

Answer & Solution

139. A higher indifference curve shows

Answer & Solution

140. In the case of two perfect substitutes, the indifference curve will be

Answer & Solution

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131.
Demand curve can be derived from

132.
The exception to law of demand is

133.
The upper portion of the kinked demand curve is relatively

134.
Price discrimination is not possible in case of

135.
If the income elasticity is greater than one, the commodity is

136.
The 'Diamond water' controversy is explained by

137.
Which of the following are sources of growth?

138.
The IC curve approach assumes

139.
A higher indifference curve shows

140.
In the case of two perfect substitutes, the indifference curve will be