Economics MCQ Questions and Solutions with Explanations | Commerce

A. utility is related to supply

B. utility could be the cause of value

C. utility is related to demand

D. utility could not be the cause of value

A. inferior goods

B. giffen goods

C. capital goods

D. normal goods

A. Infinite

B. More than One

C. Less than One

D. Equal to One

A. increasing returns to scale

B. public goods

C. the consumption externalities

D. income inequalities

A. $$\frac{{{\text{Proportional change in the price of commodity X}}}}{{{\text{Proportional change in the demand of commodity Y}}}}$$

B. $$\frac{{{\text{Proportional change in the demand of commodity X}}}}{{{\text{Proportional change in the demand of commodity Y}}}}$$

C. $$\frac{{{\text{Proportional change in the demand of commodity X}}}}{{{\text{Proportional change in the price of commodity Y}}}}$$

D. All the statements are correct

A. This product can earn in the next best use

B. The sum of this output accrues in its present use and what it can earn in its next best use

C. His present earnings

D. The difference between what this factor is currently earning and what this factor can obtain in its next best use

A. Enormous expansion of the private sector

B. Redefining the role of public sector

C. Limited exposure of Indian industry to foreign competition

D. Pruning of the list of items reserved for SSI units

A. Average cost is the lowest

B. Marginal cost is the lowest

C. Marginal cost is falling

D. None of the above

A. 0.4

B. 6.0

C. 0.6

D. 4.0

A. In Oligopoly

B. In Monopoly

C. In monopolistic competition

D. In perfect competition