Basic Economics Objective Questions and Answers
Candidates who want to test their preparation in the topic – Basic Economics, we have provided below 40 Important Objective Questions and Answers on Basic Economics. These questions on economics have already been asked in various competitive examinations.
INSTRUCTION: Kindly note that 5 second is allocated to each question. Answers must be provided as fast as you can.
#1. Demand for a commodity refers to:
#2. A debenture holder is entitled to payment in the form of
#3. An individual demand curve slopes downward to the right because of the:
#4. The cost of one thing in terms of the alternative given up is called:
#5. Economic activities are undertaken to solve the problem of
#6. Economic activities are undertaken to solve the problem of
#7. When the value of a nations export is greater than the imports, what happens
#8. When the value of a nations export is greater than the imports, what happens
#9. The economist’s objections to monopoly rest on which of the following grounds?
#10. In which of the following market structure is the degree of control over the price of its product by a firm very large?
#11. One of the methods to find out Mode is:
#12. The theory of comparative cost advantage is associated in
#13. The theory of comparative cost advantage is associated in
#14. The theory of comparative cost advantage is associated in
#15. Mean Deviation can be calculated from:
#16. Coefficient of Correlation (r) is significant, if:
#17. Th basic problem that economy attempts to solve is --
#18. Fisher’s ideal index number is:
#19. Which among the following is NOT a correct statement?
#20. Number of times a unit of money changes hands in the course of a year is called_______
#21. The following is the direct tax among:
#22. If government expenditure exceeds revenue, the results is ----
#23. 50-Which one of the following is NOT the objective of fiscal policy of government of India?
#24. Which one of the following is NOT the objective of fiscal policy of government of India?
#25. Which country was the first to adopt a gold standard in the modern sense?
#26. 56-_____unemployment may result when some workers are temporarily out of work while changing job
#27. A high average level of rear income per head is always associated with a high proportion of the working population engaged in __________ sector.
#28. When does a black market occur?
#29. 62-The credit of developing the concept of modern economic growth goes to:
#30. The credit of developing the concept of modern economic growth goes to:
#31. The most simple and popular method of measuring economic development is to calculate the trend of gross national product (GNP) at __________
#32. According to W.W. Rostow, the stages of economic growth are:
#33. When the population growth rate of an economy becomes greater than the achievable economic growth rate, it is known as:
#34. When the population growth rate of an economy becomes greater than the achievable economic growth rate, it is known as:
#35. An expression coined by economists to describe an economy that is growing at such a slow pace that more jobs are being lost than are being added:
#36. Which of the following is not a feature of a perfect market
#37. Which among the following can not be called an ant inflationary measure?
#38. Portion of deposits banks have to park with RBI is called ___?
#39. Which of the following is not a source of raiing funds for public limited liability company
#40. The minimum interest rate of a bank below which it is not viable to lend, is known as ____:
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