Solved MCQS of Economics Set 1

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Solved MCQS of Economics


In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:
221
475
190
350

According to law of diminishing marginal utility, the marginal utility:
Remains constant
Negative
Diminshes
Increases

A good for which income and quantity demanded are inversely related is known as:
None of the given options
Complementary good
Inferior good
Normal good

Welfare economics is the branch of economics which deals with:
Macro issues
Micro issues
Normative issues
Positive issues

In 2005-06 the growth rate of Saudi Arabia was 6.5 percent, Kuwait 8.5 percent and Bangladesh 5.8 percent. What was the growth rate of Iran?
6.7 percent
5.9 percent
4.2 percent
3.1 percent

How many methods can be used for cultivation:
One
Four
Three
Two

The price elasticity of demand measures the responsiveness of quantity demanded to:
Quantity demanded
Quantity supplied
Price
Output

What was the production of cotton in 2005-06?
16.2 millionbales
24.1 million bales
12.4million bales
18.8 million bales

Who wrote “The Nature and Significance of Economics”:
Adam Smith
Robbins
Keynes
Marshall

Will make zero profit (break-even)
Any of the given are possible.
Will make positive profit
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