( 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

121. According to the Classicals, investment is a function of:

A. saving

B. income

C. employment

D. rate of interest

122. “Supply creates its own demand” is called:

A. law of supply

B. law of market

C. law of demand

D. law of elasticity

123. Under the classical system, the equilibrium will be at:

A. under employment

B. full employment

C. voluntary employment

D. disguised unemployment

124. When savings exceeds the demand for savings, the rate of interest will:

A. rise

B. fall

C. remain constant

D. none of these

125. Rate of interest will increase when the demand for saving is:

A. less than its supply

B. equal to its supply

C. more than its supply

D. less than or equal to its supply

126. In the Classical system, the role of the government is:

A. the highest

B. not at all needed

C. limited

D. important

127. Equilibrium in the economy is settled by ———, according to the

A. centralized planning

B. price mechanism

C. both the planning and price mechanism

D. none of these

128. Self interest, competition, profit motive are the features of:

A. socialism

B. capitalism

C. marxism

D. mixed economy

129. The Great Depression was during:

A. 1930s

B. 1920s

C. 1940s

D. 1830s

130. The equilibrium price is determined by the forces of:

A. supply only

B. demand only

C. both demand and supply

D. none of these

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