This post is about the MCQs Economics Online Test. There are 27 multiple-choice questions. The MCQs Economics Online Test covers topics related to microeconomics, inflation, marginal benefits, circular flow of goods, planned economy, demand and supply, etc. Let us start with the MCQs Economics Online Test.
Online MCQs about Economic
MCQs Economics Online Test
- Microeconomics is not concerned with the behaviour of ———–.
- The study of inflation is part of
- The total demand for goods and services in an economy is known as
- Indicate below what is NOT a factor of production.
- A student chooses to study because the marginal benefits are greater than the ——— cost.
- The circular flow of goods and incomes shows the relationship between ———.
- In a free market system, the amount of goods and services that any one household gets depends upon its:
- In a planned or command economy, all the economic decisions are taken by the:
- When the decrease in the price of one good causes the demand for another good to decrease, the goods are:
- Suppose the demand for goods $Z$ goes up when the price of goods $Y$ goes down. We can say that goods $Z$ and $Y$ are:
- If the demand for coffee decreases as income decreases, coffee is
- The price of apples fell by 5% and the quantity demanded increased by 6%. This means that demand is
- The price of burgers increased by 22% and the quantity of burgers demanded fell by 25%. This indicates that demand for burgers is
- If the cross-price elasticity of demand between two goods is negative, then the two goods are:
- When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as
- Macroeconomics distinguishes between the real economy and the:
- The equation for Anna’s demand curve for CDs is $Q=20-5P$. If the price of a CD is E18, consumer surplus will be:
- A utility-maximizing consumer changes their spending for goods $X$ and $Y$, so that:
- The $\frac{MUX}{MUY}$ is ten and the $\frac{PX}{PY}$ is eight, so the consumer should buy:
- If the income and substitution effects of a price increase work in the same direction the good whose price has changed is a:
- A graph showing all the combinations of capital and Labour available for a given total cost is the
- The formula for average fixed costs is:
- The formula for average variable cost (AVC) is:
- If the prices of both goods increase by the same percent, the budget line will:
- A market demand curve can be derived by adding all the individual demand curves:
- Some goods are not closely related to each other and are neither substitutes nor complements. for such goods, the cross-price elasticity of demand would be:
- For a firm operating in a perfect market, its short-run supply is identical with the rising arm of:
