Young Economics Network

Economics is the study of how individuals, households or society satisfies their unlimited needs and wants by limited or scarce resources.

The Two main branch of Economics:

1. Microeconomics
2.Macroeconomics

There are different brabces of economics, Such as:

Agricultural Economics
Health Economics
Labour Economics
Macroeconomics
Behavioral Economics
Development Economics
Public Economics
International Economics

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Solve them......

100 ECONOMICS MCQS SOLVED 👇👇

​​1. A market with few producers in the Industry
(A) Oligopoly (B) Monopsony (C) Duopoly (D) Cartel
Ans: A

2. In case of deficit budget, when the deficits are covered through taxes, that budget is called :
(A) surplus budget (B) balanced budget (C) unbalanced budget (D) none of these
Ans: B

3. The WTO was founded in
(A) 1995 (B) 1998 (C) 2000 (D) 1996
Ans: A

4. Privatisation of the public sector enterprises by selling off part of the equity of PSEs to the public is known as
(A) disinvestment (B) equity share (C) profit (D) dividend
Ans: A

5. Which have been removed to increase the competitive position of Indian goods in the international markets ?
(A) Import duties (B) Export duties (C) Tariffs (D) Quota
Ans: B

6. Which is the term used to refer the relationship between human beings and their physical environment ?
(A) Human physiology (B) Human ecology (C) Human environment (D) None of these
Ans: A

7. The standard of living is often measured by
(A) Real GDP per capita (B) Real GDP (C) Real GDP population (D) Real GDP plus depreciation
Ans: A

8. The Gini Coefficient measures
(A) Income inequality (B) Inflation (C) Unemployment (D) Economic growth
Ans: A

9. The year in which Burgress and Park developed their theory of urban ecology
(A) 1925 (B) 1935 (C) 1915 (D) none of these
​Ans: A

​10. Which of the following is a stage within the 'product life cycle' ?
(A) Maturity (B) Profitability (C) Abandonment (D) Regeneration
Ans: A

11. An organisation's equal opportunities policy should be concerned with which of the following ?
(A) Age discrimination (B) Opportunity cost (C) Globalisation of supply (D) the balanced scorecard
Ans: A

12. Which of the following describes an economic market that is controlled by two main suppliers ?
(A) Monopoly (B) Price discrimination (C) Duopoly (D) Perfect competition
Ans: C