Business Economics mcq questions and answers for competitive exams

Ramya_naidu

Posted on


Business Economics mcq questions and answers for competitive exams UPSC SSC , SSC CGL, SSC CHSL, upsc Civils , Entrance exams Online test practice online free Quiz, mock practice online
61.
Which of the following is a type of price discount?

a
Cash
b
Trade
c
Quantity
d
All of the above

62.
Price elasticity is computed by

a
ep= (((Q2- Q1) / Q1) / P1) X 100
b
ep= ((Q2- Q1) / Q1) / ((P2- P1) / P1)
c
ep= (((Q2- Q1) / Q1) / Product) X 100
d
ep=( (P1- P2) / Q1) X ((P1+P2) / Q2)

63.
The monopolist faces

a
A downward sloping demand curve
b
A downward sloping average revenue curve
c
Both (a) and (b)
d
None of the above

64.
Elasticity of demand measures the

a
Volume of product
b
Value of price and cost
c
Sensitivity of production to changes in a particular cost
d
Sensitivity of sales to changes in a particular causal factor

65.
Under monopoly and imperfect competition, MC is

a
Less than the price
b
More than the price
c
Equal to the price
d
Any of the above

66.
A perfectly competitive firm attains equilibrium when

a
AC = AR
b
TC = TR
c
MC = AC
d
MR = MC

67.
A profit-maximising monopolist in two separate markets will

a
Adjust his sales in the two markets so that his MR in each market just equals his aggregate marginal cost
b
Always charge a higher price in the market where he sells more
c
Always charge a higher price in the market where he sells less
d
Charge the same price in both markets

68.
Demand is a function of

a
Firm
b
Cost
c
Price
d
Product

69.
The kinked demand curve theory explains that even when the demand conditions the price .

a
Change, changes
b
Remain stable, rise
c
Remain stable, change
d
Change, remains stable

70.
The appropriate objective of an enterprise is

a
Maximisation of profits
b
Maximisation of sales
c
Maximisation of owner's wealth
d
None of the above

71.
Demand curve was drawn with empirical evidence by

a
Utility
b
Indifference curve
c
Revealed preference
d
None of the above

72.
Efficient allocation of resources is achieved to greatest extent under

a
Monopoly
b
Oligopoly
c
Perfect competition
d
Monopolistic competition

73.
Which of the following refers to perfect competition

a
There are no restrictions on movement of goods
b
There are no restrictions on factors of production
c
Both (a) and (b)
d
There are restrictions on buyers and sellers

74.
Positive income effect is greater than negative substitution effect in case of

a
Giffen goods
b
Luxury goods
c
Normal goods
d
Inferior goods

75.
A demand curve is a boundary concept because it shows

a
The maximum quantity and the minimum price
b
The minimum price and minimum quantity
c
The maximum price and minimum quantity
d
Both price and quantity is maximum

Rate This:
NaN / 5 - 1 votes
Profile photo for Dasaradhan Gajendra