Economics is a study of the usage of resources and how we can make those resources valuable under distinct captivity. It involves an intense study of production, distribution, and consumption of goods and services. Economics is not just about money; it is also about making correct choices, balancing them with the money, and improving an individual’s overall well-being. Some important MCQs on economics are given to analyse your understanding of the topic. Economics MCQs Q1. What do you mean by the supply of goods? a) Stock available for sale b) Total stock in the warehouse c) The actual production of the goods d) Quantity of the goods offered for sale at a particular price per unit of time Answer:- d Q2. What do you mean by ‘under conditions of a perfect competition in the product market’? a) MRP = VMP b) MRP > VMP c) VMP > MRP d) None of the above

Economics is a study of the usage of resources and how we can make those resources valuable under distinct captivity. It involves an intense study of production, distribution, and consumption of goods and services.

Economics is not just about money; it is also about making correct choices, balancing them with the money, and improving an individual’s overall well-being. Some important MCQs on economics are given to analyse your understanding of the topic.

Economics MCQs
Q1. What do you mean by the supply of goods?

a) Stock available for sale

b) Total stock in the warehouse

c) The actual production of the goods

d) Quantity of the goods offered for sale at a particular price per unit of time

Answer:- d

Q2. What do you mean by ‘under conditions of a perfect competition in the product market’?

a) MRP = VMP

b) MRP > VMP

c) VMP > MRP

d) None of the above

Note:-

• Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
• Answer completely.
• You will get up vote for sure.