Economics MCQ Questions and Answers
Economics MCQ Questions with Answers are essential for candidates preparing for competitive exams like UPSC, SSC CGL, and RBI Grade B. These aptitude questions cover vital economic concepts including demand-supply, national income, fiscal policy, inflation, and international trade. Each question tests both theoretical understanding and practical application, ensuring candidates are ready for objective-type exams. Practicing aptitude questions with answers and explanations helps in revising economic fundamentals quickly. Whether you are a student, job aspirant, or exam enthusiast, this comprehensive economics MCQ set is perfect for self-assessment. Strengthen your general awareness and problem-solving ability by practicing free economics tests or downloading the solutions PDF.
Economics MCQ
101. Rent will be produced at that time when ?
- Entire land is fertile
- Elasticity of supply of land is perfectly elastic
- Land is mobile
- None of the above
102. The Example of derived demand is-
- Demand for labour
- Demand for tea
- Demand for consumable commodity
- Income demand
103. Which of the following is an active factor of production ?
- Land
- Labour
- Capital
- Organisation
104. Who developed the innovation theory of profit ?
- Shumpeter
- Haley
- Prof. Knight
- Karl Marx
105. When the rate of money inflation increase then the prices of commodities ?
- Increase
- Decrease
- Remain constant
- Do not change
106. In common meaning, inflation is a condition in which-
- Price of commodity increases
- Value of money decreases
- Price of commodity and value of money both increase
- Price of commodity increases and value of money decreases
107. According to Keynes, real inflation takes place-
- Before the level of full employment
- On the level of full employment
- After the level of full employment
- All above are true
108. Which is the main reason of demand pull inflation ?
- Increase in money supply
- Increase in commercial expenditure
- Increase in foreign demand for goods
- All of the above
109. The reason for cost push inflation is-
- Increase in money wages
- Increase in rate of profit
- Both of above
- None of the above
110. What is necessary to control cost push inflation ?
- To impose control on wages of labour
- To remove market imperfections
- Both of the above
- None of the above