MCQ on Managerial Economics
1- What is (are) the reason(s) for change in Demand (Increase or Decrease in Demand)
(A) Change in fashion and customs
(B) Change in population
(C) Change income of consumer
(D) All of the above
2- Following is (are) the Quantitative credit control measure(s)
(A) changes in statutory reserve ratio
(B) changes in bank rates
(C) open market operations
(D) All of the above
3- All the free gifts of nature which are commonly called natural resources are known to economists as
(A) Land
(B) Free resources
(C) Earth’s resources
(D) None of the above
4- Given the price, if the cost of production of a commodity decreases because of the use of improved technique of production, there will be ___.
(A) decrease in supply
(B) increase in supply
(C) no change in supply
(D) any of the above
5- True inflation starts only after reaching the level of full
(A) Employment
(B) Production
(C) Population
(D) Income
6- The products sold by different sellers under pure competition are of
(A) different quality
(B) exactly the same quality
(C) poor quality
(D) none of the above
7- A group of firms dealing in the same line of business are called as
(A) Trusts
(B) Plants
(C) Industry
(D) Society
8- Demand for a commodity depends on the relative price of its ________
(A) substitute goods
(B) complimentary goods
(C) both (A) and (B)
(D) none of the above
9- Feature(s) of monopolistic Competition is (are)
(A) Fairly large number of firms
(B) Product differentiation
(C) Selling costs are existed
(D) All of the above
10- Supply curve shifts to the right side of the original supply curve when, the supply
(A) decreases
(B) increases
(C) remains the same
(D) none of the above
ANSWERS:
1-(D), 2-(D), 3-(A), 4-(B), 5-(A), 6-(B), 7-(C), 8-(A), 9-(D), 10-(B)