Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. Which of these would be classified as capital in economics
a. Bhankra Dam
b. Indira canal
c. Golden triangle
d. All the three
Q. Capital in economics means
a. Factor of production
b. Fund brought in by the entrepreneur
c. Investment in shares, bank deposits
d. All the above
Q. Scarcity of resources leads to
a. Unsatisfaction of human wants
b. Evaluation of alternative uses of scarce resources
c. Both
d. None
Q. Who defined economics as “ Science which deals with wealth”
a. J. (B) Say
b. (A) (C) pigou
c. Alfred Marshall
d. Robbins
Q. Economics cannot be considered a perfect science because
a. Human behaviour is unpredictable
b. It is difficult to make correct prediction of economic variables
c. Economist do not have common opinion about a particular economic event
d. All the three
Q. In economic goods includes material things which……….
a. Can be transferred
b. Can be exchanged for one another
c. Both
d. None
Q. In economic wealth is the stock of all those material and immaterial objects which……...
a. Are transferable
b. Have utility
c. Are scarce
d. All the three
Q. In addition to three Central problem of economy, the additional problem(s) raised by the Moderneconomists is / are
a. Are the resources fully utilized or not
b. How efficient is the production and distribution system
c. Whether the capacity to produce or grow is increasing or is static
d. All the three
Q. The basic assumption of an economic analysis is/ are
a. Cetris paribus
b. Rational behavior
c. Both
d. None
Q. The terms Micro economic and Macro economics were coined by
a. Professor A Samulson
b. Giffen
c. Prof. Ragner Frisch
d. Eagle
Q. The elasticity of a demand curve with a constant slope
a. Increases at higher price
b. Decreases at higher price
c. Increases at lower price
d. Remains constant
Q. A perfect inelastic supply curve will be
a. Parallel to Y axis or a vertical line
b. Parallel to X axis
c. U shaped
d. Downward sloping
Q. A perfectly elastic supply curve will be
a. Parallel to Y axis or a vertical line
b. Parallel to X axis
c. U shaped
d. Downward sloping