GK-Economics MCQ Question and Answer
GK-Economics MCQ Question and Answer
22. The index of measuring economic development is—
- Increase in productive assets
- National income
- Per-capita income
- Any of the above
23. Whose opinions have revolutionised the scope of macro economics ?
- Adam Smith
- J.B. Say
- J.M. Keynes
- All of the above
24. Which of the following is an economic activity ?
- Teaching of a teacher in the school
- To teach son at home
- To serve her child by mother
- To play football by a student
25. Passive factor of production is—
- Only land
- Only capital
- Both land and capital
- Neither land nor capital
26. Under law of demand—
- Price of commodity is an independent variable
- Quantity demanded is a dependent variable
- Reciprocal relationship is found between price and quantity demanded
- All of the above
28. Utility means—
- Power to satisfy a want
- Usefulness
- Willingness of a person
- Harmfulness
29. Marginal utility is equal to average utility at that time when average utility is—
- Increasing
- Maximum
- Falling
- Minimum