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MCQ’s in CA Foundation Economics are very useful for preparing CA Foundation exams conducted by ICAI. The MCQ’s provided are according to the content given by the ICAI and these questions are most important for your examination.
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In this thread, we are starting with Business Economics.
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1. Question1 points
Demand for a commodity refers to
2. Question1 points
The quantity demanded is always expressed ________.
3. Question1 points
Demand is the ________.
4. Question1 points
The quantity demanded is a ________.
5. Question1 points
In economics, Effective Demand for a thing depends on:
6. Question1 points
All of the following are determinants of demand except:
7. Question1 points
Which of the following will affect the demand for non-durable goods?
8. Question1 points
The term “Ceteris Paribus” refers to ________.
9. Question1 points
Ceteris Paribus, the demand for a commodity is inversely related to its price. This happens because of:
10. Question1 points
________ is/are the types of Related Commodities.
11. Question1 points
Adam Smith defined Economics in terms of:
12. Question1 points
Who defines Economics in terms of Dynamic Growth and Development?
13. Question1 points
In every economic system, scarcity imposes limitations on __________.
14. Question1 points
Economic goods are considered scarce resources because they __________.
15. Question1 points
‘Economics is the study of mankind in the ordinary business of life’ was given by:
16. Question1 points
Consider the following and decide which, if any, economy is without scarcity:
17. Question1 points
Human wants are in response to satisfy their wants?
18. Question1 points
Economic goods are considered as scarce resources because __________.
19. Question1 points
The meaning of time element in Economics is:
20. Question1 points
All wants of an individual are not of:
Leaderboard: Set 2 Economic Quiz
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