Economics MCQ Questions and Solutions with Explanations | Commerce

A. Both (A) and (R) are not correct

B. Both (A) and (R) are correct

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

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

A. Diminishing marginal productivity

B. Increasing marginal productivity

C. Equi-marginal productivity

D. Law of diminishing returns

A. tabular presentation of law of demand

B. the prices of goods

C. the quantities of a commodity purchased

D. All of the above

A. monopoly

B. oligopoly

C. monopsony

D. monopolistic competition

A. Markets where the selling firms face perfect competitive situations

B. Markets where the selling firms want to gain popularity of the products having high cross elasticity of their demand

C. Markets where sellers rely on their customer's high propensity to consume a prestigious commodity

D. Markets where the selling firms have entered into the stages of maturity and saturation

A. III, IV and V

B. I, II and III

C. II, III and IV

D. I, III and V

A. Both (A) and (R) are true

B. Both (A) and (R) are false

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

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

A. law of variable proportion

B. law of diminishing return

C. law of diminishing utility

D. law of proportionality

A. a-1, b-2

B. a-2, b-1

C. Both are incorrect

D. Both are correct

A. (i), (ii), (iii), (iv)

B. (ii), (iii), (v)

C. (ii), (iv), (v)

D. (iii), (iv), (v)