(A) PS Curve
(B) IC Curve
(C) IS Curve
(D) PE Curve
Tag: Economics Mcqs With Answers
In case of perfect competition a firm is:
(A) Price taker
(B) Independent
(C) Free to fire prices
(D) None of the above
As wage rises, work hour rises. It is given by:
(A) Income effect
(B) Output effect
(C) Substitution effect
(D) Profit effect
As wage rises, work hours reduces. It is given by:
(A) Substitution effect
(B) Income effect
(C) Output effect
(D) Profit effect
Labour is defined as:
(A) Mental exertion to create or produce goods and services
(B) Physical exertion to create or produce goods and services
(C) Both mental and physical exertion to create and produce
goods and services
(D) None of the above
Supply of land is:
(A) Variable
(B) Elastic
(C) Inelastic
(D) Perfectly inelastic
Land is a __ factor of production.
(A) Derived
(B) Primary
(C) Active
(D) Secondary
Factors of production can be:
(A) Land
(B) Labour
(C) Organisation
(D) All of the above