Question # 1

In case of perfect competition in the market

Choose an answer

marginal revenue curve always slopes upward

marginal revenue curve always slopes downward

marginal revenue is always equal to average revenue

marginal revenue is always less than to average revenue

One of the following does not represent imperfect competition.

Choose an answer

Day to day market

Monopoly

Duopoly

Monopolistic Competition

This is not a function of the entrepreneur

Choose an answer

supervise

innovate

lend money

prepare plan

The utility of durable consumer goods.

Choose an answer

Diminishes with the passage of time

Perishes, if not used

Can be obtained constantly

None of the three

When business expands beyond its optimum level what type of economics will it be getting.

Choose an answer

Diseconomies

Internal economies

External economies

Maanagerial economics

The extent of market depends upon

Choose an answer

Means of transport and communication

Political instability

Economics instability

Trade restriction

Economic laws can be define as .

Choose an answer

A statement of social behaviour

Laws implement by an executive

Laws of the state

Statement of general economic tendencies

In which year Alfred Marshall wrote a book entitled "Principle of economics"

Choose an answer

1850

190

1870

1890

In mathematics which letters at the end of alphabet are used to represent variables

Choose an answer

(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

Marginal product curve intersects average product curve when AP curve is

Choose an answer

minimum

maximum

rising

falling

If a public limited company issues bonds to increase resources, then it pays

Choose an answer

fixed premium to bond holders

fixed interest to bond holders

fixed tax to bond holders

fixed profit to bond holders

Change in total cost on the production of one additional unit of output is calculated as .

Choose an answer

Marginal cost

Average cost

Total cost

Marginal product

Which one can cause a change in demand

Choose an answer

change in income

change in supply

change in tastes

a and c of above

Profits

Choose an answer

are necessary

are unnecessary

can never be negative

are illegal

.Which one is not an economic want.

Choose an answer

Want for food

Want to be a doctor

Want to fall in love

Non of the above

Which is true

Choose an answer

labour produces land

land produces labour

labour produces capital

capital produces labour

Which one of the following is a day to day market.

Choose an answer

The market of perishable goods

The market of refrigerators

The market of stationary

None of the three

In production of goods, negative returns in the short run imply that

Choose an answer

average product is negative

total product is negative

marginal product is negative

marginal cost is falling

Profits

Choose an answer

are like wages

are like interest

always depend upon chance

none of the above is true

In the long-run a firm attains under monopoly;

Choose an answer

Normal profit

Super normal profit

Sub-normal profit

Any on of the above

To reduce unemployment the govt. may

Choose an answer

reduce money supply

reduce mobility of labour

reduce minimum wages

increase government spending

More Classes

Other Links

Economics Ics Part 1 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer