Basics of Economics MCQ

principles of economics mcq with answers pdf | microeconomics mcqs with answers pdf | multiple choice questions for economics with answers download pdf | economics mcq class 10 | micro and macro economics mcqs pdf | economics mcq class 9 | economics quiz questions and answers pdf | macroeconomics mcqs with answers pdf

Basics of Economics MCQ

81. Cost function relates cost to

A. input

B. output

C. raw material

D. machines

Answer: –

B. output

82. An increase in market demand, supply remaining the same results in

A. decrease in equilibrium price

B. decrease in equilibrium quantity

C. decrease in equilibrium price and increase in equilibrium quantity

D. both equilibrium price and quantity rises

Answer: –

D. both equilibrium price and quantity rises

83. There is no distinction between firm and industry in

A. perfect competition

B. monopoly

C. monopolistic competition

D. oligopoly

Answer: –

B. monopoly

84. A fall in the market demand, supply remaining the same results in

A. increase in equilibrium price

B. increase in equilibrium quantity

C. increase in equilibrium price and decrease in equilibrium quantity

D. both equilibrium price and quantity falls

Answer: –

D. both equilibrium price and quantity falls

85. The cost of next best alternative is called

A. marginal cost

B. average cost

C. opportunity cost

D. direct cost

Answer: –

C. opportunity cost

Also Read :-

86. When MC is greater than AC, AC

A. rises

B. falls

C. maximum

D. minimum

Answer: –

A. rises

87. There is ——- relationship between price and quantity supplied

A. positive

B. negative

C. constant

D. inverse

Answer: –

A. positive

88. Supply curve represents ——– relationship between quantity and
price

A. direct

B. inverse

C. either direct or inverse

D. none of the above

Answer: –

A. direct

89. National Income means:

A. gnp at factor cost

B. gnp at market price

C. nnp at factor cost

D. nnp at market price

Answer: –

C. nnp at factor cost

90. The difference between GDP and NDP equals:

A. transfer payments

B. net indirect taxes

C. net factor income from abroad

D. depreciation

Answer: –

D. depreciationAlso Read :-

Mr. DJ

I Am Dinesh Jat ( Mr. DJ). Completed Mcom. And Currently Pursuing MBA. Interest In Writing Blogs And Spread knowledge To the People. I Want to Provide General Awareness With The People who Are preparing for competitive Exams At a place.

Basics of Economics MCQ

Basics of Economics MCQ

81. Cost function relates cost to

82. An increase in market demand, supply remaining the same results in

83. There is no distinction between firm and industry in

84. A fall in the market demand, supply remaining the same results in

85. The cost of next best alternative is called

86. When MC is greater than AC, AC

87. There is ——- relationship between price and quantity supplied

88. Supply curve represents ——– relationship between quantity and
price

89. National Income means:

90. The difference between GDP and NDP equals:

Related

Mr. DJ

Leave a Comment Cancel Reply

( Best 200+ ) Basics of Economics MCQ

Basics of Economics MCQ

Basics of Economics MCQ

81. Cost function relates cost to

82. An increase in market demand, supply remaining the same results in

83. There is no distinction between firm and industry in

84. A fall in the market demand, supply remaining the same results in

85. The cost of next best alternative is called

86. When MC is greater than AC, AC

87. There is ——- relationship between price and quantity supplied

88. Supply curve represents ——– relationship between quantity and price

89. National Income means:

90. The difference between GDP and NDP equals:

Share this:

Related

( Best 30+ ) Value of Money MCQ

( Best ) Strategy and Tips to Prepare for RRB NTPC 2022 Mathematics

You may also like

Leave a Comment Cancel Reply

88. Supply curve represents ——– relationship between quantity and
price