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 Question : When total utility is maximum,...

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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 b) TR=TC c) TC = AVC d) MC=AC Answer : TR=TVC Question : TR...

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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 : Perfect Competition Question : Firm’s demand cuve under monopoly shows: a) No relationship between price and demand b) Inverse relationship...

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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, sugarcane is a) A final good b) A capital good c) An Intermediate good d)...

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CBSE Class 12 Economics Cost and Revenue MCQs

Question : The costs which vary as the level of output varies are called: a) Prime costs b) Indirect costs c) Real costs d) None of these Answer : Prime costs Question : Per unit cost of a good is called a) Total fixed cost b) Variable cost c) Average cost...

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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

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Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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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

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Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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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 : Perfect Competition

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Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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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

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Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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CBSE Class 12 Economics Cost and Revenue MCQs

Question : The costs which vary as the level of output varies are called:

a) Prime costs
b) Indirect costs
c) Real costs
d) None of these

Answer : Prime costs

Click for more Economics Study Material ›

Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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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

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Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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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

Click for more Economics Study Material ›

Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

Download PDF

CBSE Class 12 Economics Determination of Income and Employment MCQs

Click for more Economics Study Material ›

Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

Download PDF

CBSE Class 12 Economics Government Budget and The Economy MCQs

Click for more Economics Study Material ›

Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

Download PDF

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

Click for more Economics Study Material ›

Part A Microeconomics Chapter 1 Introduction to Micro Economics
CBSE Class 12 Economics Microeconomics MCQs

Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs

Part A Microeconomics Chapter 3 Production and Costs
CBSE Class 12 Economics Cost and Revenue MCQs
CBSE Class 12 Economics Producer Behavior and Supply MCQs

Part A Microeconomics Chapter 4 The Theory of Firm Under Perfect Competition
CBSE Class 12 Economics The Theory of Firm Under Perfect Competition MCQs

Part A Microeconomics Chapter 5 Market Equilibrium
CBSE Class 12 Economics Forms of Market and Price Determination MCQs

Part A Microeconomics Chapter 6 Non Competitive Markets
CBSE Class 12 Economics Non Competitive Markets MCQs

Part B Macroeconomics Chapter 1 Introduction to Macroeconomics
CBSE Class 12 Economics Macroeconomics MCQs

Part B Macroeconomics Chapter 2 National Income Accounting
CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ
CBSE Class 12 Economics National Income and Related Aggregates MCQs

Part B Macroeconomics Chapter 3 Money and Banking
CBSE Class 12 Economics Money and Banking MCQs

Part B Macroeconomics Chapter 4 Determination of Income and Employment
CBSE Class 12 Economics Determination of Income and Employment MCQs

Part B Macroeconomics Chapter 5 Government Budget and Economy
CBSE Class 12 Economics Government Budget and The Economy MCQs

Part B Macroeconomics Chapter 6 Open Economy Macroeconomics
CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs
CBSE Class 12 Economics Open Economy Macroeconomics MCQs

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