Q. The average _________ and output have inverse functional relationship.
✅ Correct Answer: (A)
fixed cost
Fundamentals of Economics MCQs and Notes
Q. Law of Variable Proportions was developed by _____________
✅ Correct Answer: (A)
Alfred Marshall
Q. Production creates _________ utility.
✅ Correct Answer: (C)
Form
Q. If the proportionate change in the supply is equal to the proportionate change in price, it is said to be _______ supply.
✅ Correct Answer: (A)
Unitary Elastic
Q. ______ means the desire backed by the necessary purchasing power.
✅ Correct Answer: (D)
Demand
Q. Income minus Savings is equal to ___________
✅ Correct Answer: (A)
Consumption
Q. In India, Central Bank was established in _________
✅ Correct Answer: (C)
1935
Q. __________ account can be opened by business persons only.
✅ Correct Answer: (A)
Current Deposit
Q. Quantity Theory of Money was explained by ___________
✅ Correct Answer: (A)
Fisher