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Economics Mcqs Set 1 with Answers

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Economics Multiple Choice Questions (MCQs) for Basic to Advanced Test Preparation. For your test preparation, here are the Basic to Advance and Most Important Economics Mcqs. Economics Multiple Choice Questions for Lecturer and Subject Specialist Exams.

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Economics MCQS Set 1

1 / 10

Point out the term for producer goods such as machinery that is used in production of commodities ?

2 / 10

A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

3 / 10

Name the organization in which people are associated together for a common purpose under a common name. This organization is recognized and created by law ?

4 / 10

Goods that satisfy human wants though their direct use or consumption are called______________?

5 / 10

The term Cartel refers to ?

6 / 10

What is the cost effective ?

7 / 10

Term the enterprise or organization which is managed by those who use its facilities or services ?

8 / 10

Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?

9 / 10

Cost of production plus a fixed rate of profit is called ?

10 / 10

What is called a place of work where all workers within a section must belong to a single official recognized trade union ?

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