Economics MCQs | Quiz, Multiple Choice Questions Test

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ECONOMICS MCQS | QUIZ, MULTIPLE CHOICE QUESTIONS TEST (MCQ)
Economics multiple choice questions (MCQs) test page-1. These economics quiz are from fundamentals of economics, basic economic theories, micro economics and macro economics. Also, link to Economics MCQs (PDF) is given after the fifth question. Find answers to the featured economics MCQ (multiple choice quiz) after the third question.
FEATURED ECONOMICS MCQ
1. What is the function of a central bank (or a state bank)?
(A) taking deposits from the people
(B) implementing monetary policy
(C) lending to businesses
(D) determining inflation and tax rates

2. What is meant by entrepôt trade?
(A) Trade among three countries
(B) Importing duty-free goods only
(C) Re-importing goods previously exported
(D) Re-exporting goods previously imported

3. Which of the following characteristic can exist both in perfect competition and in monopoly?
(A) ease of entry
(B) many sellers
(C) many buyers
(D) perfectly elastic supply curve

ANSWER: ECONOMICS MCQ
1. (B) implementing monetary policy
2. (D) Re-exporting goods previously imported
3. (C) many buyers (See below ↓ for regular economics questions)

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ECONOMICS MCQ | MULTIPLE CHOICE QUESTION TEST
1. The fundamental concept of Economics about resources is that the resources are
(A) equally distributed
(B) unequally distributed
(C) scarce
(D) unlimited

2. Consider a world without scarcity of resources. Then what would be the consequences?
(A) All prices would be zero
(B) Markets would be unnecessary
(C) Economics would no longer be a useful subject
(D) All of the above

3. Who is considered the founder of Microeconomics?
(A) Adam Smith
(B) John Keynes
(C) Friedrich Hayek
(D) Milton Friedman

4. Who is considered the founder of modern Macroeconomics?
(A) Adam Smith
(B) John Keynes
(C) Friedrich Hayek
(D) Milton Friedman

5. When analyzing the impact of a variable on the economic system, the other things
(A) must be kept constant
(B) must also be analyzed
(C) must not be taken into consideration
(D) none of these

ANSWERS: ECONOMICS MCQS
1. (C) scarce
2. (D) All of the above
3. (A) Adam Smith
4. (B) John Keynes
5. (A) must be kept constant Next: Economics MCQs 6–10

BASIC ECONOMICS MCQS | MULTIPLE CHOICE QUESTIONS TEST

Economics MCQs (PDF)
Download the Economics Multiple Choice Questions (MCQs) in PDF from this page.