CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs
Question : Law of Diminishing Marginal Utility states that when more and more units of a commodity ate consumed, marginal utility: a) begins to increase b) remains constant c) begins to decrease d) becomes zero Answer : begins to decrease…
CBSE Class 12 Economics Producer Behavior and Supply MCQs
Question : MC=MR=AC=AR refers to long term equilibrium of a) Competitive firm b) Oligopoly firm c) Monopoly firm d) None of these Answer : Competitive firm Question : A firm reaches shut down point when a) TR=TVC …
CBSE Class 12 Economics Forms of Market and Price Determination MCQs
Question : In which kind of market, a firm is a price- taker? a) Perfect Competition b) Monopoly c) Monopolistic competition d) Oligopoly Answer : A Question : Firm’s demand curve under monopoly shows: a) No relationship between price and demand b)…
CBSE Class 12 Economics National Income and Related Aggregates MCQs
Question : Those goods which satisfy human wants directly are called a) Intermediate goods b) Consumer goods c) Capital goods d) None of these Answer : Consumer goods Question : In the production of sugar,…
CBSE Class 12 Economics Cost and Revenue MCQs
Question. Suppose the total cost of production of a commodity X is 1,25,000 out of which implicit cost 35,000 and normal profit is 25,000. What would be the explicit cost of commodity? (a) 90, 000 (b) 65, 000 (c) 1,00,000 (d) 60, 000 Answer: B Question. Variable Costs are — (…
CBSE Class 12 Economics Microeconomics MCQs
Question : Which of the following is not concerned with the problem of choice ? a) Excessive income b) Alternative use of resources c) Unlimited wants d) Limited (scarce) resources Answer : Excessive income Question : …
CBSE Class 12 Economics Money and Banking MCQs
Question. Barter system refers to that system where in: a) Goods are exchanged for goods b) Goods are not exchanged at all c) Goods are exchanged for domestic currency d) Goods are exchanged for foreign currency Answer : Goods are exchanged for goods Question. Which of the…
CBSE Class 12 Economics Determination of Income and Employment MCQs
Question : Which of the following indicates AD in an open economy? a) Private (household) Consumption Expenditure b) Household Investment Expenditure c) Government expenditure + private consumption expenditure d) Household consumption expenditure+ investment…
CBSE Class 12 Economics Government Budget and The Economy MCQs
Question : In the context of government budget, which of the following statements is correct ? a) Budget is a statement of expected annual receipts and expenditure is correct? b) It is a detail of actual receipts and expenditures of the government in a financial year…
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
Question : The exchange rate at which demand for foreign currency becomes equal to its supply called a) Equal rate of exchange b) Unequal rate of exchange c) Equilibrium rate d) All of these Answer : Equilibrium rate Question : According…
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
Question : Net investment is equal to a) Gross investment + depreciation b) Gross investment – depreciation c) Gross investment × depreciation d) Gross investment ÷ depreciation Answer : B Question : Capital goods are those goods a) Which are used…