Principles Of Economics And Management (3140709) MCQs

MCQs of Introduction to Economics

Showing 11 to 20 out of 28 Questions
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11.
Which is not a type of elasticity?
(a) Price
(b) Cross price
(c) Expense
(d) Income
Answer:

Option (c)

12.
According to the theory of classical school of economics
(a) Governments should interfere in markets
(b) Governments should not interfere in markets
(c) Governments should partially interfere in markets
(d) None of these
Answer:

Option (b)

13.
According to the theory of Keynesian school of economics
(a) Governments should interfere in markets
(b) Governments should not interfere in markets
(c) Governments should partially interfere in markets
(d) None of these
Answer:

Option (a)

14.
12% labor force in India was unemployed last year is a
(a) Positive statement
(b) Negative statement
(c) Normative statement
(d) Creative statement
Answer:

Option (a)

15.
20% unemployment is too high is a
(a) Positive statement
(b) Negative statement
(c) Normative statement
(d) Creative statement
Answer:

Option (c)

16.
Which is not a responsible factor for the emerging economic problems?
(a) Unlimited wants
(b) Unlimited resources
(c) Limited resources
(d) None of these
Answer:

Option (b)

17.
Positive Science statement____________.
(a) indicate what is good or what is bad for society
(b) does not indicate what is good or what is bad for society
(c) some times indicate what is good or what is bad for society
(d) None of these
Answer:

Option (b)

18.
Demand relationship means __________.
(a) relationship between income and quantity demanded
(b) relationship between supply and quantity demanded
(c) relationship between population and quantity demanded
(d) relationship between price and quantity demanded
Answer:

Option (d)

19.
Supply relationship means ___________.
(a) relationship between income and quantity supplied
(b) relationship between demand and quantity supplied
(c) relationship between population and quantity supplied
(d) relationship between price and quantity supplied
Answer:

Option (d)

20.
The graph for the "Low of Demand" has slop value.
(a) Positive
(b) Negative
(c) Zero
(d) Infinite
Answer:

Option (b)

Showing 11 to 20 out of 28 Questions
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