Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. The sale of branded articles is common in a situation of -
a. excess capacity
b. monopolistic competition
c. monopoly
d. pure competition
Q. Demand curve of a firm under perfect competition is :
a. horizontal to ox-axis
b. negatively sloped
c. positively sloped
d. U - shaped
Q. The marginal revenue of a monopolist is:
a. more than price
b. equal to price
c. less than price
d. less than marginal cost
Q. Payment of water charges by the farmers to the government represents -
a. intermediate consumption
b. final consumption
c. fixed investment
d. inventory investment
Q. The problem of Economics arises from
a. Plenty
b. Scarcity of goods
c. More wants and less goods
d. All of the above
Q. When average cost production (AC) falls, marginal cost of production must be -
a. rising
b. Falling
c. Greater than the average cost
d. Less than the average cost
Q. Production function expresses -
a. technological relationship between physical inputs and output
b. financial relationship between physical inputs and output
c. relationship between finance and technology
d. relationship between factors of production
Q. When there is one buyer and many sellers then that situation is called -
a. Monopoly
b. Single buyer right
c. Down right
d. Double buyers right
Q. The measure of a worker's real wage is
a. The change in his productivity over a given time
b. His earnings after deduction at source
c. His daily earnings
d. The purchasing power of his earnings
Q. Bull and bear are related to which commercial activity?
a. Banking
b. Ecommerce
c. International trade
d. Stock market
Q. The share broker who sells shares in the apprehension of falling prices of shares is called
a. Bull
b. Dog
c. Bear
d. Stag
Q. "Bad money will drive out good money from circulation." This is known as :
a. Engle's Law
b. Gresham's Law
c. Say' Law
d. Wagner's Law
Q. If he Central Bank wants to encourage an increase in the supply of money and decrease in the cost of borrowing money, it should -
a. lower cash reserve ratio
b. raise discount rates
c. sell government securities
d. All of the above