Test Preparation on CA/CS Foundation MCQ Question Basic Concept OF Economic VI
1.
Quotas tend to be associated with efforts to
2.
Demand for a foreign currency results primarily from the
3.
A tax imposed only on a imported good is a
4.
An inferior good is a product
5.
When there is a shortage in a market
6.
If price ofa commodity falls from Rs.l.00 to Rs.0.50 and as a result the quantity
demanded increase from 500 to 750 units. Over this range demand curve is
7.
If the price ofa good is Rs.1.50 and that of good y is Rs l.Ifthe particular consumers marginal utility for y is 30 and currently he is maximizing his
total utility then marginal utility ofx must me
8.
Utility refers to
9.
A quota prefects domestic producers by
10.
The statement that oatmeal is an inferior good as economists use the term