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Objective Questions
GK
GK Set-1
Economics
Indian Economics
169

Indian Economics MCQ (GK Set-1) with Answers

169) Economics is what it ought to be. This statement refers to

Normative Economics

Positive Economics

Monetary Economics

Fiscal Economics

Answer is:

Normative Economics

Indian Economics MCQ (GK Set-1) with Answers

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Related Indian Economics MCQ (GK Set-1) with Answers

170) The excess of price a person is to pay rather than forego the consumption of the commodity is called

Price

Profit

Producer Surplus

Consumer Surplus

Answer is:

Consumer Surplus

171) A want becomes a demand only when it is backed by the

Ability to purchase

Necessity to buy

Desire to buy

Utility of the product

Answer is:

Ability to purchase

172) The ’break-even’ point is where

marginal revenue equals marginal cost

average revenue equals average cost

total revenue equals total cost

none of the above

Answer is:

total revenue equals total cost

The ’break-even’ point is where

173) Rate of interest is determined by

The rate of return on the capital invested

Central Government

Liquidity preference

Commercial Banks

Answer is:

Liquidity preference

Indian Economics MCQ (GK Set-1) with Answers

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