MCQs Economics – 2

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

1. What was the difficult of the “barter system”?

 
 
 
 

2. Phases of the trade cycle are

 
 
 
 

3. When the price of a product falls, supply will be

 
 
 
 

4. When does national income increases

 
 
 
 

5. Canons of taxation describe

 
 
 
 

6. According to the law of diminishing marginal utility, the marginal utility

 
 
 
 

7. The unity method of elasticity of demand was presented by

 
 
 
 

8. Consumer goods are those goods that are used by a man

 
 
 
 

9. What is deducted from GNP finds GDP?

 
 
 
 

10. Who wrote “The Nature and Significance of Economics”?

 
 
 
 

11. When the price falls, supply will be

 
 
 
 

12. What remains after the deduction of direct taxes form the personal income

 
 
 
 

13. Inflation on prices

 
 
 
 

14. The elasticity of demand for durable goods is

 
 
 
 

15. Who criticized Prof. Robbin’s definition?

 
 
 
 

16. Who is the writer of “The Wealth of Nations”?

 
 
 
 

17. Which economist presented the Cardinal Theory of Utility

 
 
 
 

18. International trade has the benefits

 
 
 
 

19. The slope of a demand curve is

 
 
 
 

20. The quality of a good which satisfies a human want is called as

 
 
 
 

Try MCQs Economics Test 1

Leave a Comment

Discover more from GM Statistics

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

Continue reading