Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. Select the odd one
a. Consumer taste
b. Price of the goods
c. Change in population
d. Increase in price of product
Q. Select the odd one
a. Price of the product
b. Cost of production
c. No. of suppliers
d. St. duties
Q. Cross elasticity of a nearly perfect substitute products will be
a. Infinite
b. Zero
c. .> 1
d. <1
Q. If two goods are perfect substitutes for one another, the elasticity of substitution will be
a. Infinite
b. Zero
c. > 1
d. < 0
Q. If two goods are not substitutes at all for one another, the elasticity of substitution will be
a. Infinite
b. Zero
c. > 1
d. < 0
Q. In question No. 218 bread can be considered as
a. Essential goods
b. Luxury goods
c. Inferior goods
d. Normal goods