MCQs Economics 1

Online MCQs about the subject of Economics. There are 20 MCQs about Economics and this economics quiz will help you prepare Economics MCQs for Lecturer & Subject Specialist Exams. Answer the following multiple-choice questions and press ‘Submit‘ to get your score. Let us start with the MCQs Economics Quiz.

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

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

 
 
 
 

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

 
 
 
 

3. The other name for law decreasing return is

 
 
 
 

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

 
 
 
 

5. A monopsony is

 
 
 
 

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

 
 
 
 

7. The national income period is

 
 
 
 

8. Factors of production are

 
 
 
 

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

 
 
 
 

10. Average revenue is equal to

 
 
 
 

11. Personal income means

 
 
 
 

12. In a monopoly the number of firms is

 
 
 
 

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

 
 
 
 

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

 
 
 
 

15. Price discrimination is

 
 
 
 

16. Both households and societies face many decisions because

 
 
 
 

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

 
 
 
 

18. Economics deals primarily with the concept of

 
 
 
 

19. The word economy comes from the Greek word for

 
 
 
 

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

 
 
 
 


Online MCQs Economics with Answers

  • “The true national income is that part of the annual net produce that is directly consumed during that year” Who said this
  • Who has given the concept of “Wage fund Theory”
  • Both households and societies face many decisions because
  • Which of the following is NOT included in the decisions that every society must make?
  • Economics deals primarily with the concept of
  • Households and economics have each of the following in common EXCEPT both
  • The word economy comes from the Greek word for
  • The word that comes from the Greek word for “One who manages a household” is
  • A monopsony is
  • Price discrimination is
  • If a monopoly is unable to cover its short-run variable costs, it should
  • If the monopolist maximizes profits when marginal revenue equals marginal cost equals average cost, economic profits must be
  • If a monopolist has only fixed costs and chooses that output at which marginal cost equals price, it will
  • If a monopolist had no costs, the best possible price would be where demand is
  • Personal income means
  • The national income period is
  • Factors of production are
  • The other name for law decreasing return is
  • Average revenue is equal to
  • In a monopoly the number of firms is
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