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Economic MCQ Questions with answers

Here Important Economic MCQ questions are added which are frequently asked in almost all the examinations. You can check the correct answer of any question on clicking the show answer button or on option itself. The Correct answer will be displayed below. You can share any question with your friends on whatsapp by tapping whatsapp button.

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Learn Economic MCQs [Page 1 ]

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Shyam Dubey ·
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Q) Internal profit -

(A) Happens when internal trade expands
(B) Happens when business expands
(C) Happens in economy when they increase
(D) Happens in firms when they expand their product
Correct Answer - Option (D)

No Explanation found. Add Explanation and get +2 points.

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Shyam Dubey ·
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Q) Who among the following is not a classical economist?

(A) David Ricardo
(B) John Stuart Mill
(C) Thomas Malthus
(D) John Maynard Keynes
Correct Answer - Option (D)

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Shyam Dubey ·
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Q) Who said, “Economics is the Science of Wealth”?

(A) Robbins
(B) Adam Smith
(C) JS Mill
(D) Keynes
Correct Answer - Option (B)

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Praveen Singh ·
Tutor III · 8.54K points
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Q) Who is called the father of Economics

(A) Max Mullar
(B) Karl Marx
(C) Adam Smith
(D) None of these
Correct Answer - Option (C)

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Praveen Singh ·
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Q) The concept of five year plans in India was introduced by

(A) Lord Mountbatten
(B) Jawahar lal nehrut
(C) Indira Gandhi
(D) Lal Bahadur Shastri
Correct Answer - Option (B)

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Virat Bhati ·
Tutor III · 7.23K points
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Q) White Revolution is related to

(A) Oil seeds
(B) Milk production
(C) Meat production
(D) Wool production
Correct Answer - Option (B)

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Virat Bhati ·
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Q) The 191st member of UNO is

(A) Switzerland
(B) East Timor
(C) Swaziland
(D) Taiwan
Correct Answer - Option (B)

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Priyanka Tomar ·
Tutor III · 7.54K points
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Q) The Cause of inflation is

(A) Increase in money supply
(B) Fall in production
(C) Increase in money supply and fall in production
(D) Decrease in money supply and fall in production
Correct Answer - Option (C)

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Priyanka Tomar ·
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Q) India has

(A) Socialistic economy
(B) Gandhian economy
(C) Mixed economy
(D) Free economy
Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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Priyanka Tomar ·
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Q) Mixed economy means

(A) Co-existence of small scale and large scale industries
(B) Co-existence of the rich and poor
(C) Co-existence of private and public sector
(D) Assigning equal importance to both agriculture and heavy industries
Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

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