7/28/2020 Multiple Choice Questions for Economics with Answers

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Multiple Choice Questions for Economics with

Answers
 ExamGuru  10:33 PM

Economics Questions and Answers

1. “An Enquiry into the Nature and Causes of Wealth of Nations” is the book of economist
—
(A) Adam Smith (B) Marshall
(C) Robbins (D) None of above
Ans : (A-Adam Smith)

2. “Economics is the Science of Wealth” who gave this de nition ?

(A) J. K. Mehta (B) Marshall
(C) Adam Smith (D) Robbins
Ans : (C-Adam Smith)

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7/28/2020 Multiple Choice Questions for Economics with Answers

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3. “Economics is what economists do.” It has been supported by—

(A) Richard Jones (B) Comte
(C) Gunnar Myrdal (D) All of the above
Ans : (D-All of the above)

4. “Human Welfare is the subject of Economics.” This statement is associated with the
name of which of the economists ?
(A) Marshall (B) Pigou
(C) Penson (D) All of the above
Ans : (D-All of the above)

5. Who has given scarcity de nition of economics ?

(A) Adam Smith (B) Marshall
(C) Robbins (D) Robertson
Ans : (C-Robbins)

6. “Economics is a science” the basis of this statement is—

(A) Relation between cause and effect
(B) Use of deductive method and inductive method for the formations of laws
(C) Experiments
(D) All of the above
Ans : (D-All of the above)

7. Characteristics of economic laws are—

(A) Mere statements of economic tendencies (B) Less certain
(C) Hypothetical (D) All of the above
Ans : (D-All of the above)
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8. Which theory is generally included under micro economics ?
(A) Price Theory (B) Income Theory 350 पयायवाची श द (Paryayvachi
Shabd) सच
ू ी हंद म
(C) Employment Theory (D) None of the above
 1:21 PM
Ans : (A-Price Theory)

जा नये कस खेल म कुल कतने खलाड़ी

9. Whose opinions have revolutionised the scope of macro economics ? होते ह?
(A) Adam Smith (B) J.B. Say  3:42 PM

(C) J.M. Keynes (D) All of the above

Ans : (C-J.M. Keynes)
हंद म 1 से 100 तक गनती | Hindi
numbers 1 To 100
10. Which of the following is an economic activity ?
 10:53 AM
(A) Teaching of a teacher in the school (B) To teach son at home 
(C) To serve her child by mother (D) To play football by a student
सं कत म गनती 1 से 100 तक
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7/28/2020 Multiple Choice Questions for Economics with Answers
स कृत म गनती 1 स 100 तक
Ans : (A-Teaching of a teacher in the school )  9:10 AM

11. Passive factor of production is—

(A) Only land (B) Only capital SPONSORED SEARCHES
(C) Both land and capital (D) Neither land nor capital
mcqs on nature and scope of economics
Ans : (C-Both land and capital)

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12. Under law of demand—
(A) Price of commodity is an independent variable mcq on economicswith answers
(B) Quantity demanded is a dependent variable
(C) Reciprocal relationship is found between price and quantity demanded multiple choice questions app
(D) All of the above
Ans : (D-All of the above) ma economics mcq

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13. For inferior commodities, income effect is— Email Address

(A) Zero (B) Negative

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(C) In nite (D) Positive
Ans : (B-Negative)

14. When total utility becomes maximum, then marginal utility will be— Categories
(A) Minimum (B) Average
(C) Zero (D) Negative  Current GK 16
5
Ans : (C-Zero)  Employment News 15
97
 First In... 11
15. Utility means—
(A) Power to satisfy a want (B) Usefulness  Free PDF Download 16
7
(C) Willingness of a person (D) Harmfulness  General Awareness 47
Ans : (A-Power to satisfy a want)
 General English 15
6
16. Marginal utility is equal to average utility at that time when average utility is—  General Knowledge 14
5
(A) Increasing (B) Maximum  Indian States And Capitals 44
(C) Falling (D) Minimum
 KBC Questions (कौन बनेगा करोड़प त न) 19
Ans : (B-Maximum) 4

 Know India 60
17. At point of satiety, marginal utility is—
 Latest Who's Who 28
(A) Zero (B) Positive
(C) Maximum (D) Negative  List Of... 26
8
Ans : (A-Zero)  Popular Quotations 23

 Quizzes 25
18. Which of the following is the second law of Gossen ? 4
(A) Law of equi-marginal utility (B) Law of equi-product  Solved Papers 67
3
(C) Theory of indifference curve (D) Law of diminishing marginal utility  नवीनतम समसाम यक 50
Ans : (A-Law of equi-marginal utility) 8

 सामा य ान 21
19. Total utility of a commodity is measured by which price of that commodity ? 7

(A) Value in use (B) Value in exchange  सामा य ान नो तर  33

2
(C) Both of above (D) None of above
 हल नप 68
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7/28/2020 Multiple Choice Questions for Economics with Answers
हल न-प 68
Ans : (A-Value in use)

20. According to Marshall, the basis of consumer surplus is—

(A) Law of diminishing marginal utility (B) Law of equi-marginal utility
(C) Law of proportions (D) All of the above
Ans : (A-Law of diminishing marginal utility)

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