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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 of Department 3]

1) Perfect competition is a market situation when we have

(A) Large number of sellers
(B) Few seller
(C) A single seller
(D) Two seller
Correct Answer - Option (A)

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2) Absence of government is one of the feature of

(A) Imperfect competition
(B) Oligopoly
(C) Monopoly
(D) Perfect competition
Correct Answer - Option (D)

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

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3) _____ is the feature of monopoly and perfect competition are partially present.

(A) Oligopoly
(B) Monopolistic competition
(C) Duopoly
(D) Monopoly
Correct Answer - Option (B)

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

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4) The commodities are produced in perfectly competitive market in

(A) Large in size
(B) Homogenous
(C) Heterogenous
(D) Similar but not identical
Correct Answer - Option (B)

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

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7) When marginal product is positive, the total product _____

(A) Remains constant
(B) Is not affected
(C) Increases
(D) Decreases
Correct Answer - Option (C)

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

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9) Indifference curve assumes, the consumer has a _____ amount of money to spend on the two goods.

(A) Maximum
(B) Less
(C) More
(D) Fixed
Correct Answer - Option (D)

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

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