MCQs Economics – 2

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

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

 
 
 
 

2. Who criticized Prof. Robbin’s definition?

 
 
 
 

3. Inflation on prices

 
 
 
 

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

 
 
 
 

5. Which economist presented the Cardinal Theory of Utility

 
 
 
 

6. The slope of a demand curve is

 
 
 
 

7. When does national income increases

 
 
 
 

8. The elasticity of demand for durable goods is

 
 
 
 

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

 
 
 
 

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

 
 
 
 

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

 
 
 
 

12. International trade has the benefits

 
 
 
 

13. What is deducted from GNP finds GDP?

 
 
 
 

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

 
 
 
 

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

 
 
 
 

16. Canons of taxation describe

 
 
 
 

17. Phases of the trade cycle are

 
 
 
 

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

 
 
 
 

19. When the price falls, supply will be

 
 
 
 

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

 
 
 
 

Try MCQs Economics Test 1