(A) Central banks gives loans to commercial banks
(B) Commercial banks receives deposits from the public
(C) Commercial banks grants loans to their customers
(D) None of the above
Tag: Economics Mcqs With Answers
What is the concept of opportunity cost?
(A) Suggest all our wants can be achieved
(B) Is relevant only for a capitalist economy like the United States
(C) Suggests a major increase in public healthcare spending means an expansion in other areas will be harder to achieve
(D) All of the above
A recession is?
(A) A period during which aggregate output declines
(B) A period of declining prices
(C) A period of declining unemployment
(D) A period of very rapidly declining prices
Total demand for goods and services in an economy is known as?
(A) Aggregate demand
(B) Economy-wide demand
(C) National demand
(D) Gross national product
Study of inflation is part of?
(A) Microeconomics
(B) Macroeconomics
(C) Descriptive economics
(D) Normative economics
Which is the most essential function of an entrepreneur?
(A) Management
(B) Marketing
(C) Risk bearing
(D) Supervision
Knowledge, Technical skill, education etc in economics are regarded as?
(A) Human capital
(B) Social overhead capital
(C) Tangible physical capital
(D) Working capital
Excise duty on a commodity is payable with reference to its?
(A) Production
(B) Production and sale
(C) Production and transportation
(D) Production, Transportation and sale