Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Demand in Economics means :
a. Aggregate demand
b. Market demand
c. Individual demand
d. Demand backed by purchasing power
Q. A fall in demand or rise in supply of a commodity—
a. Increases the price of that commodity
b. decreases the price of that commodity
c. neutralizes the changes in the price
d. determines" the price elasticity
Q. The relationship between the value of money and the price level in an economy is -
a. Direct
b. Inverse
c. Proportional
d. Stable
Q. Production function relates -
a. Cost to output
b. Cost to input
c. Wages to profit
d. Inputs to output
Q. If total utility is maximum at a point, then marginal utility is -
a. positive
b. zero
c. negative
d. positive but decreasing
Q. Economies of Scale means reduction in
a. unit cost of production
b. unit cost of distribution
c. total cost of production
d. total cost of distribution
Q. Who is authorized to issue coins in India?
a. Reserve Bank of India
b. Ministry of Finance
c. State Bank of India
d. Indian Overseas Bank
Q. The difference between visible exports and visible imports is defined as -
a. Balance of trade
b. Balance of payment
c. Balanced terms of trade
d. Gains from trade
Q. A commercial bank law creates credit only if it has -
a. Cash in the vault
b. Excess reserves
c. Permission of Reserve Bank of India
d. (4) Cooperation of other banks
Q. Commercial banks create credit -
a. on the basis of their securities
b. on the basis of their assets
c. on the basis of their reserve fund
d. on the basis of their deposits
Q. A financial instrument is called a 'primary security' if ii represents the liability of :
a. some ultimate borrower
b. the Government of India
c. a primary cooperative bank
d. a commercial bank