Economics MCQ Questions and Solutions with Explanations | Commerce

A. David Ricardo

B. Karl Marx

C. Adam Smith

D. F. A. Walker

A. Perfectly elastic

B. Inelastic

C. More elastic

D. Stable

A. Both 1 and 2

B. Both 2 and 3

C. Both 1 and 3

D. All of the above

A. Boom

B. Depression

C. Recovery

D. Acceleration

A. Both (A) and (R) are true and (R) is the correct explanation of (A)

B. Both (A) and R are true, but (R) is not the correct explanation of (A)

C. (A) is true, but (R) is false

D. (A) is false, but (R) is true

A. Economies of scale

B. Normative economies

C. Diminishing marginal returns

D. Increasing marginal product of labour

A. a less than proportionate change in quantity demanded

B. a more than proportionate change in quantity demanded

C. the same proportionate change in demand

D. no change in demand

A. $$\frac{{M{U_x}}}{{{P_x}}} = \frac{{M{U_y}}}{{{P_y}}} = \frac{{M{U_z}}}{{{P_z}}}$$

B. $$\frac{{M{U_x}}}{{M{U_y}}} = \frac{{M{U_y}}}{{M{U_z}}} = \frac{{M{U_z}}}{{M{U_x}}}$$

C. $$\frac{{M{U_x}}}{{M{U_y}}} = \frac{{{P_x}}}{{{P_y}}} = \frac{{M{U_x}}}{{{P_z}}}$$

D. $$\frac{{M{U_x}}}{{{P_y}}} = \frac{{M{U_y}}}{{{P_z}}} = \frac{{M{U_z}}}{{{P_x}}}$$

A. Judgemental forecast

B. Time series forecast

C. Both A and B

D. All of the above

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

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

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

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