BCA 6th semester TU MCQs 2020 Applied Economics
Applied Economics
Model MCQs
1. Circle (0) the correct answer.
i. Engle curve represent the relationship between.
a. Income and demand
b. Demand supply
c. Income and price
d. Demand and price
Ans: A
ii. The slope of indifference curve is
a. Straight line from left to right
b. Positive
c. Negative
d. Parallel to vertical axes
Ans:
iii. According traditional cost approach, the nature of SAC is
a. Flatter U Shaped
b. U-Shaped
c. L-shaped
d. None of the above
Ans: B
iv. Which cost curve also known as planning curve
a. Long run MC
b. Short run AC
c. Long-run AC
d. Short-run MC
Ans: C
v. Microeconomics is concerned with the study of
a. economy
b. government
c. consumer
d. International trade
Ans: C
vi. In market economy, resources are owned by
a. Central government
b. Local government
c. Cooperatives
d. Private sector
Ans: D
vii. Scope of microeconomics includes
a. Consumer
b. Household
c. Producer
d. All of the above
Ans: D
viii. In which type of economy do producers and consumers make their choices based on market forces i.e. demand and supply?
a. command economy
b. Market economy
c. Central economy
d. mixed economy
Ans: B
ix. Objective of microeconomics is
a. Full employment
b. optimum allocation of resources
c. Growth of resources
d. sustainable development
Ans: B
x. Study of inflation is
a. Microeconomic
b. Macroeconomic
c. Not related to Economics
d. none of the above
Ans: B
BCA 6th semester TU MCQs 2020 Applied Economics
BCA 6th semester TU MCQs 2020 Applied Economics
1. Circle (0) the correct answer
i. Which of the following will cause a change in the quantity supplied?
a. Technological change
b. A change in input prices.
c. A change in number of firm
d. All of above
Ans: D
ii. If a decrease in the price of one goods causes the demand for another goods to decrease, the goods are:
a. Normal
b. Inferior
c. Substitutes
d. Complements
Ans: C
iii. Suppose that price is reduced by 20 percent and the quantity demanded increases by 40 percent. The implied price elasticity of demand is:
a. -2
b. -4
c. -1/2
d. -1/4
Ans: A
iv. A variable cost is a cost which…………..
a. varies per unit at every level activity
b. occurs at various times during production
c. Varies with changes in the level of output
d. Varies depending on production decision.
Ans: C
v. Isoquants that are downward-sloping straight lines exhibit.
a. an increasing MRTS
b. a decreasing MRTS.
c. indeterminate MRTS
d. a constant MRTS.
Ans: B
vi. The level of activity at which total revenues equal total costs is the
a. Point of abnormal profit
b. Point of sub normal profit
c. Shut-down point
d. break-even point
Ans: B
vii. Marginal costs is the change in total cost resulting form a unit change in…….’
a. Output
b. Input
c. both(a)and(b)
d. None of these
Ans: A
viii. Oligopoly is the only market structure characterized by:
a. Interdependence in decisions
b. Negatively sloping demand curve
c. No close substitutes
d. Existence of many firms.
Ans: A
ix. Accounting of National Income at constant prices is known as………
a. Money income
b. Real income
c. Current income
d. Domestic income
Ans: B
x. Inflations is:
a. an increase in the overall price level
b. an increase in the level of economic activity
c. a decrease in the level of economic activity
d. a fall in the overall price level.
Ans: A
BCA 6th semester TU MCQs 2020 Applied Economics BCA 6th semester TU MCQs 2020 Applied Economics BCA 6th semester TU MCQs 2020 Applied Economics BCA 6th semester TU MCQs 2020 Applied Economics