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

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