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

81.
Who propounded the population theory

A. Mill

B. Hicks

C. Malthus

D. Adam Smith

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82.
Who was the author of 'Das capital' which gave birth to communism?

A. Lenin

B. Karl Marx

C. J. S. Mill

D. David Ricardo

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83.
When the output increases in the same proportion as the increase in input it is

A. Constant

B. Average

C. Decreasing

D. Increasing

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84.
In the kinked demand model, the demand curve for the firm's products is drawn on the assumption that

A. All rivals charge the same price charged by the oligopolist

B. All rivals charge a price independent of the price charged by the oligopolist

C. All rivals follow the oligopolist up to a certain price

D. All oligopolists charge the price as independent sellers

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85.
A given economic state is Pareto-optimal if a policy-change can

A. make everyone better off

B. make someone better off and all others worse off

C. make someone better off and all others worse off

D. not make anyone better off without making someone worse off

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86.
Welfare oriented definition of economics has been given by

A. A. Marshall

B. Adam Smith

C. Robbins

D. A. C. Pigou

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87.
The monopoly involves as social cost mainly due to its emphasis on which one of the following?

A. Earning net profit in all possible situations

B. Lower output at a higher cost in a normal profit situation

C. Charging different prices from different categories of buyers of the same product

D. Attempting to stop entry of other firms in the market

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88.
A point on the slope of the indifference curve is called

A. Marginal rate of substitution

B. Establishment rate of trade off

C. Trade off rate

D. Marginal rate of neutrality

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89.
Match the following.

List-I List-II

a. Perfect competition 1. Different prices for the same product

b. Monopolistic competition 2. Dominant strategy

c. Oligopoly 3. Product differentiation

d. Discriminating monopoly 4. Identical product

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

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

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

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

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90.
We have asked Mac to rank his preference between three market basket - A, B and C. If Mac prefers B to C, but does not care if he gets A or B, then

A. A is on a higher indifference curve than B

B. B is on a higher indifference curve than C, but it is not possible to determine whether C is on a higher, lower or same indifference curve than A

C. C is on a higher indifference curve

D. Both A and B are on a higher indifference curve than C

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1 2 3 4 5 6 7 8 9 10

List-I	List-II
a. Perfect competition	1. Different prices for the same product
b. Monopolistic competition	2. Dominant strategy
c. Oligopoly	3. Product differentiation
d. Discriminating monopoly	4. Identical product

Economics MCQ Questions and Solutions with Explanations | Commerce

81. Who propounded the population theory

Answer & Solution

82. Who was the author of 'Das capital' which gave birth to communism?

Answer & Solution

83. When the output increases in the same proportion as the increase in input it is

Answer & Solution

84. In the kinked demand model, the demand curve for the firm's products is drawn on the assumption that

Answer & Solution

85. A given economic state is Pareto-optimal if a policy-change can

Answer & Solution

86. Welfare oriented definition of economics has been given by

Answer & Solution

87. The monopoly involves as social cost mainly due to its emphasis on which one of the following?

Answer & Solution

88. A point on the slope of the indifference curve is called

Answer & Solution

89. Match the following. List-I List-II a. Perfect competition 1. Different prices for the same product b. Monopolistic competition 2. Dominant strategy c. Oligopoly 3. Product differentiation d. Discriminating monopoly 4. Identical product

Answer & Solution

90. We have asked Mac to rank his preference between three market basket - A, B and C. If Mac prefers B to C, but does not care if he gets A or B, then

Answer & Solution

Read More Section(Economics)

81.
Who propounded the population theory

82.
Who was the author of 'Das capital' which gave birth to communism?

83.
When the output increases in the same proportion as the increase in input it is

84.
In the kinked demand model, the demand curve for the firm's products is drawn on the assumption that

85.
A given economic state is Pareto-optimal if a policy-change can

86.
Welfare oriented definition of economics has been given by

87.
The monopoly involves as social cost mainly due to its emphasis on which one of the following?

88.
A point on the slope of the indifference curve is called

89.
Match the following.

List-I List-II

a. Perfect competition 1. Different prices for the same product

b. Monopolistic competition 2. Dominant strategy

c. Oligopoly 3. Product differentiation

d. Discriminating monopoly 4. Identical product

90.
We have asked Mac to rank his preference between three market basket - A, B and C. If Mac prefers B to C, but does not care if he gets A or B, then