MCQs Economics – 1

MCQs Economics for the preparation of different Job and educational degree-related tests and examinations.

Please enter your email:

1. “The true national income is that part of the annual net produce that is directly consumed during that year” who said this

 
 
 
 

2. Households and economics have each of the following in common EXCEPT both

 
 
 
 

3. In monopoly the number of firms is

 
 
 
 

4. Price discrimination is

 
 
 
 

5. Factors of production are

 
 
 
 

6. Average revenue is equal to

 
 
 
 

7. The national income period is

 
 
 
 

8. Who has given the concept of “Wage fund Theory”

 
 
 
 

9. The other name of law decreasing return is

 
 
 
 

10. The word that comes from te Greek word for “One who manages a household” is

 
 
 
 

11. If a monopolist had no costs, the best possible price would be where demand is

 
 
 
 

12. If a monopoly is unable to cover its short-run variable costs, it should

 
 
 
 

13. If a monopolist has only fixed costs and chooses that output at which marginal cost equals price, it will

 
 
 
 

14. The word economy comes from the Greek word for

 
 
 
 

15. Personal income means

 
 
 
 

16. Both households and societies face many decisions because

 
 
 
 

17. If the monopolist maximizes profits when marginal revenue equals marginal cost equals average cost, economic profits must be

 
 
 
 

18. Which of the following is NOT included in the decisions that every society must make?

 
 
 
 

19. A monopsony is

 
 
 
 

20. Economics deals primarily with the concept of

 
 
 
 

Leave a Comment

Discover more from GM Statistics

Subscribe now to keep reading and get access to the full archive.

Continue reading