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Fundamentals of Economics MCQs: 104 Questions & Answers in Faculty

104 Fundamentals of Economics MCQs in Faculty with answers & explanations. Page 5. Practice objective questions for competitive exams, interviews & self-asse… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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Fundamentals of Economics MCQs: 104 Questions & Answers in Faculty

_________ goods are known as scarce goods.

________ defined economics as a science which deals with wealth.

Commercial banks provide collateral loans against

The rate at which the commercial banks borrow from the Reserve Bank of India is called as

Which of these would lead to fall in demand for money?

Which one of the following is the apex bank for agricultural credit in India?

Which one of the following functions of commercial banks include collection of cheques, drafts, bill of exchange etc. of their customers from other banks?

Cash Balance Approach was given by

The relationship between money supply and price level is

OPEC is an example of

If a firm produces 200 units of commodity X by employing 10 workers and 240 units of the same commodity by employing 12 workers, then the Average Product of the worker is

Marginal cost is defined as

All the factors of production become variable in the

Which one of the following cost can never become zero?

The ‘Law of Variable Proportion’ was first developed by

Which one of the following is not a factor of production?

When the price elasticity of demand is equal to one, the demand curve is

In the case of rare coins, supply curve will be

The concept of ‘Consumer Surplus’ was introduced in Economics by

The subject matter of economics is distributed into __________ parts.

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