Basics of Economics MCQ

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Basics of Economics MCQ

161. Which of the following items does not include in the group?

A. consumption

B. investment

C. rate of interest

D. net exports

Answer: –

C. rate of interest

162. If marginal propensity to consume is 0.8, the value of multiplier will be:

A. 1

B. 2.5

C. 5

D. 2

Answer: –

C. 5

163. Who is known as the father of Modern Economics?

A. adam smith

B. j.m.keynes

C. robinson

D. ricardo

Answer: –

A. adam smith

164. Goods without which people can not live are called:

A. comforts

B. luxuries

C. necessaries

D. none

Answer: –

C. necessaries

165. The problem of what to produce is a problem of:

A. distribution

B. technological choice

C. consumption

D. allocation of resources

Answer: –

D. allocation of resources

Also Read :-

166. Those things that possess both utility and scarcity are called:

A. economic goods

B. free goods

C. intermediate goods

D. luxuries

Answer: –

A. economic goods

167. If a worker specializes in the production of a single good, it is called:

A. product based division of labour

B. process based division of labour

C. worker based division of labour

D. none of these

Answer: –

A. product based division of labour

168. Goods produced for use in future productive process are called:

A. intermediate goods

B. final goods

C. consumer goods

D. capital goods

Answer: –

D. capital goods

169. In a horizontal straight line demand curve, the price elasticity of
demand is:

A. unity

B. infinity

C. zero

D. less than one

Answer: –

B. infinity

170. Who wrote the article Laws of Returns Under Competitive Conditions?

A. joan robinson

B. e.h. chamberlin

C. a.c. pigou

D. p. sraffa

Answer: –

D. p. sraffa

Also Read :-

Mr. DJ

I Am Dinesh Jat ( Mr. DJ). Completed Mcom. And Currently Pursuing MBA. Interest In Writing Blogs And Spread knowledge To the People. I Want to Provide General Awareness With The People who Are preparing for competitive Exams At a place.

Basics of Economics MCQ

Basics of Economics MCQ

161. Which of the following items does not include in the group?

162. If marginal propensity to consume is 0.8, the value of multiplier will be:

163. Who is known as the father of Modern Economics?

164. Goods without which people can not live are called:

165. The problem of what to produce is a problem of:

166. Those things that possess both utility and scarcity are called:

167. If a worker specializes in the production of a single good, it is called:

168. Goods produced for use in future productive process are called:

169. In a horizontal straight line demand curve, the price elasticity of
demand is:

170. Who wrote the article Laws of Returns Under Competitive Conditions?

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( Best 200+ ) Basics of Economics MCQ

Basics of Economics MCQ

Basics of Economics MCQ

161. Which of the following items does not include in the group?

162. If marginal propensity to consume is 0.8, the value of multiplier will be:

163. Who is known as the father of Modern Economics?

164. Goods without which people can not live are called:

165. The problem of what to produce is a problem of:

166. Those things that possess both utility and scarcity are called:

167. If a worker specializes in the production of a single good, it is called:

168. Goods produced for use in future productive process are called:

169. In a horizontal straight line demand curve, the price elasticity of demand is:

170. Who wrote the article Laws of Returns Under Competitive Conditions?

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169. In a horizontal straight line demand curve, the price elasticity of
demand is: