Daily MCQ Quiz

Test your knowledge with our daily updated questions.

General Knowledge MCQs

Quiz #69283
The excess of price – a person is to pay rather than forego the consumption of the commodity is called?
A Price
B Profit
C ProducerÂ’s surplus
D ConsumerÂ’s surplus
Discuss
Quiz #69282
‘Economics is what it ought to be’. This statement refers to?
A Normative Economics
B Positive Economics
C Monetary Economics
D Fiscal Economics
Discuss
Quiz #69281
The term ‘Micro Economics’ and ‘Macro Economics’ were coined by?
A Alfred Marshall
B Ranger Nurkse
C Ranger Frisch
D J.M. Keynes
Discuss
Quiz #69280
A ‘want’ becomes a ‘demand’ only when it is backed by the?
A Ability to purchase
B Necessity to buy
C Desire to buy
D Utility of the product
Discuss
Quiz #69279
Which one of the following would NOT constitute an economic activity?
A A teacher teaching students in his class
B A teacher teaching students under Sarve Shiksha Abhiyan
C A teacher providing consultancy services from his residence
D A teacher teaching his own daughter at home
Discuss
Quiz #69278
Labour intensive technique would get choose in a?
A Labour surplus economy
B Capital surplus economy
C Developed economy
D Developing economy
Discuss
Quiz #69277
Which from the following is NOT true when the interest rate in the economy goes up?
A Saving increases
B Lending decreases
C Cost of production increases
D Return on capital increases
Discuss
Quiz #69276
Surplus earned by a factor other than land in the short period is referred to as?
A Economic rent
B Net rent
C Quasi-rent
D Super-normal rent
Discuss
Quiz #69275
Opportunity cost of production of a commodity is?
A The cost that the firm could have incurred when a different technique was adopted
B The cost that the firm could have incurred under a different method of production
C The actual cost incurred
D The next best alternative output sacrificed
Discuss
Quiz #69274
Nobel prize winning Indian Amartya Sen is known for his work in which area?
A Physics
B Environmental protection
C Chemistry
D Economics
Discuss