( Best 200+ ) Basics of Economics MCQ

by Mr. DJ

Basics of Economics MCQ

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Basics of Economics MCQ

Basics of Economics MCQ

1. The economic problem arises since

A. wants are unlimited

B. resources are limited

C. resources are capable of alternative uses

D. all of the above

2. Economic problem arises in

A. planned economies

B. free market economies

C. mixed economies

D. all of the above

3. The resources are :

A. limited

B. unlimited

C. not only limited but are capable of alternative uses

D. none of the above

4. —– is not an example of free good

A. sunlight

B. car

C. petrol

D. computer

5. The term production refers to:

A. producing things which are capable of satisfying human wants

B. creation or addition of utilities

C. transformation of inputs into output

D. all of the above

6. The problem of allocation of resources is concerned with:

A. what to produce

B. how to produce

C. for whom to produce

D. all of the above

7. The distribution of national product among the members of the society
is the problem of:

A. what to produce

B. how to produce

C. for whom to produce

D. all of the above

8. Which one of the following come under macro economics:

A. per capita income

B. study of a firm

C. individual income

D. theory of factor pricing

9. Which one of the following is not come under macro economics

A. national income

B. per capita income

C. disposable income

D. individual income

10. Partial equilibrium analysis come under:

A. micro economics

B. macro economics

C. welfare economics

D. international economics

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