CSS Economics Solved Mcqs

Q.  If quantity demanded is completely unresponsive to changes in price, demand is:

a. Inelastic
b. Unit elastic
c. Elastic
d. Perfectly inelastic


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MCQs:  Which one is increasing function of price:
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MCQs:  It describes the law of supply:
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MCQs:  Supply curve will shift when:
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MCQs:  An increase in demand would cause supply curve to:
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MCQs:  If price changes by 1% and supply changes by 2% then supply is:
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MCQs:  If elasticity of supply is greater than one. Supply curve will be:
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MCQs:  Supply surve:
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MCQs:  During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to:
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MCQs:  When supply of a commodity increases without change in price it is called:
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MCQs:  In May 2013, firm was supplying 500kg of sugar of market price of Rs. 30/- per kg. During June 2013, firm's supply of sugar had decreased to 450kg at price Rs. 20/- per kg. These changes show that supply of sugar is:
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MCQs:  What best explains a shift in market supply curve to the right?
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MCQs:  Economic problems arise because:
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MCQs:  Which is not an essential condition for an economic problem to arise?
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MCQs:  Which is not a central problem of an economy?
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MCQs:  Who defined Economics as a 'Science which studies human behaviour as a relationship between ends and means which have alternative uses?
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MCQs:  A mixed economy is characterised by the co-existence of:
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MCQs:  Which is not an essential feature of a socialist economy?
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MCQs:  Which of the following is incorrect?
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MCQs:  Microeconomics deals with the:
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MCQs:  Which of the following is Microeconomics concerned with?
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