2956 + Mcqs in Economics Page 2 McqOptions

51.	Management is said to be the combination of
A.	Arts, science and profession
B.	Arts, science and engineering
C.	Arts, commerce and science
D.	Arts, commerce and engineering
Answer» B. Arts, science and engineering

Discussion

52.	Quantity of a certain goods producers are willing to supply when receiving a certain price is known as ______.
A.	Supply
B.	Supply relationship
C.	Deman
D.	D Demand relationship
Answer» B. Supply relationship

Discussion

53.	______ is supposed to be immutable, unchanging and eternal.
A.	Policy
B.	Vision
C.	Mission
D.	All of the above
Answer» B. Vision

Discussion

54.	_______ is function of management.
A.	Production
B.	Staffing
C.	Transaction
D.	None of the above
Answer» C. Transaction

Discussion

55.	Identify the function of money.
A.	Medium of exchange
B.	Measure of value
C.	Store of value
D.	All of the above
Answer» E.

Discussion

56.	______ is the ultimate source of authority.
A.	Top management
B.	Middle level management
C.	Lower level management
D.	All of the above
Answer» B. Middle level management

Discussion

57.	Identify The Three Motives Of Money Demand:
A.	Accumulative, Speculative, Precautionary
B.	Speculative, Transaction, Precautionary
C.	Precautionary Special, Transaction
D.	None
Answer» C. Precautionary Special, Transaction

Discussion

58.	Which among the following is a cause of inflation?
A.	Deficit financing
B.	Rise in external loans
C.	Unfavorable balance of payment
D.	A hike in the CRR by the central bank of the country
Answer» B. Rise in external loans

Discussion

59.	Positive motivation makes people willing to do their work in the best way they can andimprove their ________.
A.	Productivity
B.	Personality
C.	Performance
D.	All of the above
Answer» D. All of the above

Discussion

60.	Monetary policy is implemented by in India.
A.	The Ministry of Finance
B.	Planning Commission
C.	The Parliament
D.	Reserve Bank of India
Answer» E.

Discussion

61.	Which is the stages of law of variable proportions?
A.	Increasing returns
B.	Decreasing returns
C.	Negative Marginal returns
D.	All of the above
Answer» E.

Discussion

62.	Function of organization is _________.
A.	Specialization
B.	Coordination
C.	Efficient functioning
D.	All of the above
Answer» E.

Discussion

63.	The Rate At Which Central Bank Lends To Commercial Banks Is Known As:
A.	Reserve Rate
B.	Discount Rate
C.	Open Market Operation
D.	None
Answer» C. Open Market Operation

Discussion

64.	The following is the direct tax among:
A.	House tax
B.	Entertainment tax
C.	Service tax
D.	Value added tax
Answer» B. Entertainment tax

Discussion

65.	Which is not a part of cost?
A.	Total Cost
B.	Average cost
C.	Changeable Cost
D.	Sunk Cost
Answer» D. Sunk Cost

Discussion

66.	Which is the skills of management?
A.	Conceptual skills
B.	Human skills
C.	Technical skill
D.	All of the above
Answer» E.

Discussion

67.	_______ is about not having enough money to meet basic needs including Food,Clothing and Home.
A.	Poverty
B.	Labor
C.	Unemployment
D.	None of the above
Answer» B. Labor

Discussion

68.	Management as a discipline is the function of ____.
A.	Science
B.	Art
C.	Creativity
D.	All of the above
Answer» D. All of the above

Discussion

69.	Full form of GDP.
A.	Gross Domestic Products
B.	Global Domestic Products
C.	Gross Domestic Price
D.	Global Domestic Price
Answer» B. Global Domestic Products

Discussion

70.	____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks.
A.	Repo rate
B.	Bank rate
C.	Prime lending rate
D.	Reverse repo rate
Answer» C. Prime lending rate

Discussion

71.	An Expansionary Fiscal Policy Can:
A.	Raise The National Debt
B.	Decrease The National Debt
C.	Have No Effect On National Debt
D.	None of the above
Answer» B. Decrease The National Debt

Discussion

72.	The total demand for goods and services in an economy is known as
A.	Aggregate demand
B.	National demand
C.	Gross national product
D.	Economy wide demand
Answer» B. National demand

Discussion

73.	________ is a science as well as an art.
A.	Management
B.	Production
C.	Banking
D.	None of the above
Answer» B. Production

Discussion

74.	A point where the quantity of goods being supplied is exactly the same as the quantity of goods being demanded is known as _______
A.	Demand quantity
B.	Supply Quantity
C.	Both A and B
D.	Equilibrium
Answer» E.

Discussion

75.	_______ is an economic good that acts as a medium of exchange in transaction.
A.	Money
B.	Production
C.	Equipment
D.	None of the above
Answer» B. Production

Discussion

76.	The supply of a good refers to:
A.	Stock available for sale
B.	Total stock in the warehouse
C.	Actual Production of the goo
D.	D. Quantity of the good offered for sale at a particular price per unit of time
Answer» E.

Discussion

77.	Which is the type of market?
A.	Monopoly
B.	Oligopoly
C.	Perfect competition
D.	All of the above
Answer» E.

Discussion

78.	The capital that is consumed by an economy or a firm in the production process is known as:
A.	Capital loss
B.	Production cost
C.	Dead-weight loss
D.	Depreciation
Answer» E.

Discussion

79.	Which market structure symbolizes the existence of ‘few sellers’?
A.	Oligopoly
B.	Monopoly
C.	Monopolistic competition
D.	Perfect competition
Answer» B. Monopoly

Discussion

80.	According To The Classical Economists, The Economy
A.	Requires Fine Tuning To Reach Full Employment
B.	Should Not Be Left To Market Forces
C.	Will Never Be At Full Employment
D.	Is Self-Correcting
Answer» E.

Discussion

81.	Quantity of a product people are willing to buy at a certain price is known as ______.
A.	Supply
B.	Supply relationship
C.	Deman
D.	D Demand relationship
Answer» D. D Demand relationship

Discussion

82.	A change in fiscal policy affects the balance of payments through:
A.	The current account only
B.	The capital account only
C.	Both, the current account and capital account
D.	Neither current account nor capital account
Answer» D. Neither current account nor capital account

Discussion

83.	The heart of administration is the _____ function.
A.	Directing
B.	Organizing
C.	Controlling
D.	Cooperating
Answer» B. Organizing

Discussion

84.	Demand for a commodity refers to:
A.	Need for the commodity
B.	Desire for the commodity
C.	Amount of the commodity demanded at a particular price and at a particular time
D.	Quantity demanded of that commodity
Answer» D. Quantity demanded of that commodity

Discussion

85.	Management exists at the ______ level of the organization.
A.	Lower
B.	Middle
C.	Top
D.	All of the above
Answer» E.

Discussion

86.	The Practice Of Using Fiscal And Monetary Policy To Stabilize The Economy Is Knownas
A.	Fine Tuning Of Demand
B.	Monetarism
C.	Laissez Faire Economics
D.	Supply Side Economics
Answer» B. Monetarism

Discussion

87.	Macroeconomics Is The Branch Of Economics That Deals With
A.	The Economy As A Whole
B.	Imperfectly Competitive Markets
C.	Only The Long Run Adjustments To Equilibrium In The Economy
D.	None of the above
Answer» B. Imperfectly Competitive Markets

Discussion

88.	Which is the stages of law of returns to scale?
A.	Increasing returns to scale
B.	Constant returns to scale
C.	Diminishing returns to scale
D.	All of the above
Answer» E.

Discussion

89.	Direction is a ________ function performed by all the managers at all levels of the organization.
A.	Managerial
B.	Organizational
C.	Both A and B
D.	None of the above
Answer» B. Organizational

Discussion

90.	If all other factors remain equal, the higher the price of a good, the fewer people willdemand that good means what?
A.	The law of demand
B.	The law of supply
C.	All A and B
D.	None of the above
Answer» B. The law of supply

Discussion

91.	Who is the ‘lender of the last resort’ in the banking structure of India?
A.	State Bank of India
B.	Reserve Bank of India
C.	EXIM Bank of India
D.	Union Bank of India
Answer» C. EXIM Bank of India

Discussion

92.	Which is the types of unemployment?
A.	Cyclical unemployment
B.	Structural unemployment
C.	Seasonal unemployment
D.	All of the above
Answer» E.

Discussion

93.	Which is the characteristics of corporate social responsibility(CSR)
A.	Continuous process
B.	Two-way process
C.	Concerned with social prestige
D.	All of the above
Answer» E.

Discussion

94.	Which is the function of bank?
A.	Acceptance of Deposits
B.	Advances of Loans
C.	Both A and B
D.	None of the above
Answer» D. None of the above

Discussion

95.	One of the popular forecast is
A.	Technological
B.	Economi
C.	C Deman
D.	D None of the above
Answer» D. D None of the above

Discussion

96.	Which of the following is not a feature of monopolistic completion?
A.	Large number of producers
B.	Free entry and exit
C.	More elastic demand
D.	Price competition
Answer» E.

Discussion

97.	In perfect completion, a firm is a
A.	Price maker
B.	Price taker
C.	Both of the above
D.	None of these
Answer» C. Both of the above

Discussion

98.	Which of the following is not coming under imperfect competition?
A.	Oligopoly
B.	Duopoly
C.	Monopoly
D.	Monopolistic
Answer» D. Monopolistic

Discussion

99.	in economics ……..means ‘a state of rest ‘or ‘stability’
A.	Depression
B.	Equilibrium
C.	Maturity
D.	growth
Answer» C. Maturity

Discussion

100.	Related to production function, MRTS stand for;
A.	Marginal revenue and total sales
B.	Minimum revenue from total sales
C.	Marginal rate of total supply
D.	Marginal rate of technical substitution
Answer» E.

Discussion

Explore topic-wise MCQs in UPSC IAS Exam.

Management is said to be the combination of

Quantity of a certain goods producers are willing to supply when receiving a certain price is known as ______.

______ is supposed to be immutable, unchanging and eternal.

_______ is function of management.

Identify the function of money.

______ is the ultimate source of authority.

Identify The Three Motives Of Money Demand:

Which among the following is a cause of inflation?

Positive motivation makes people willing to do their work in the best way they can andimprove their ________.

Monetary policy is implemented by in India.

Which is the stages of law of variable proportions?

Function of organization is _________.

The Rate At Which Central Bank Lends To Commercial Banks Is Known As:

The following is the direct tax among:

Which is not a part of cost?

Which is the skills of management?

_______ is about not having enough money to meet basic needs including Food,Clothing and Home.

Management as a discipline is the function of ____.

Full form of GDP.

____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks.

An Expansionary Fiscal Policy Can:

The total demand for goods and services in an economy is known as

________ is a science as well as an art.

A point where the quantity of goods being supplied is exactly the same as the quantity of goods being demanded is known as _______

_______ is an economic good that acts as a medium of exchange in transaction.

The supply of a good refers to:

Which is the type of market?

The capital that is consumed by an economy or a firm in the production process is known as:

Which market structure symbolizes the existence of ‘few sellers’?

According To The Classical Economists, The Economy

Quantity of a product people are willing to buy at a certain price is known as ______.

A change in fiscal policy affects the balance of payments through:

The heart of administration is the _____ function.

Demand for a commodity refers to:

Management exists at the ______ level of the organization.

The Practice Of Using Fiscal And Monetary Policy To Stabilize The Economy Is Knownas

Macroeconomics Is The Branch Of Economics That Deals With

Which is the stages of law of returns to scale?

Direction is a ________ function performed by all the managers at all levels of the organization.

If all other factors remain equal, the higher the price of a good, the fewer people willdemand that good means what?

Who is the ‘lender of the last resort’ in the banking structure of India?

Which is the types of unemployment?

Which is the characteristics of corporate social responsibility(CSR)

Which is the function of bank?

One of the popular forecast is

Which of the following is not a feature of monopolistic completion?

In perfect completion, a firm is a

Which of the following is not coming under imperfect competition?

in economics ……..means ‘a state of rest ‘or ‘stability’

Related to production function, MRTS stand for;