{"id":889,"date":"2023-06-18T22:15:05","date_gmt":"2023-06-18T16:45:05","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=889"},"modified":"2023-06-19T13:19:02","modified_gmt":"2023-06-19T07:49:02","slug":"introduction-to-micro-economics","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/introduction-to-micro-economics\/","title":{"rendered":"Introduction To Micro Economics &#8211; Indian Economy GK MCQ"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/introduction-to-micro-economics\/#Introduction_To_Micro_Economics_%E2%80%93_Indian_Economy_GK_MCQ_%E0%A4%B8%E0%A5%82%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A5%8D%E0%A4%AE_%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%B6%E0%A4%BE%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A5%8D%E0%A4%B0_%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%9A%E0%A4%AF\" >Introduction To Micro Economics &#8211; Indian Economy GK MCQ ( \u0938\u0942\u0915\u094d\u0937\u094d\u092e \u0905\u0930\u094d\u0925\u0936\u093e\u0938\u094d\u0924\u094d\u0930 \u0915\u093e \u092a\u0930\u093f\u091a\u092f )<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/introduction-to-micro-economics\/#Introduction_To_Micro_Economics_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\" >Introduction To Micro Economics &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/introduction-to-micro-economics\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction_To_Micro_Economics_%E2%80%93_Indian_Economy_GK_MCQ_%E0%A4%B8%E0%A5%82%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A5%8D%E0%A4%AE_%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%B6%E0%A4%BE%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A5%8D%E0%A4%B0_%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%9A%E0%A4%AF\"><\/span>Introduction To Micro Economics &#8211; Indian Economy GK MCQ ( \u0938\u0942\u0915\u094d\u0937\u094d\u092e \u0905\u0930\u094d\u0925\u0936\u093e\u0938\u094d\u0924\u094d\u0930 \u0915\u093e \u092a\u0930\u093f\u091a\u092f )<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Enhance your understanding of microeconomics with a comprehensive collection of Multiple Choice Questions (MCQs) sourced from previous year papers of various competitive exams, including UPSC IAS. Test your knowledge, sharpen your analytical skills, and stay updated with the fundamental principles of microeconomics.<\/p>\n\n\n\n<p>Brief: Are you looking for a reliable resource to grasp the foundations of microeconomics? Look no further! Our MCQs page offers a wide range of questions sourced from previous year papers of different competitive exams, including UPSC IAS and more.<\/p>\n\n\n\n<p>Immerse yourself in a stimulating learning experience as you explore this repository of MCQs. By attempting these questions, you can assess your knowledge, identify areas for improvement, and strengthen your conceptual understanding of microeconomic principles.<\/p>\n\n\n\n<p>Our MCQs cover various topics related to the introduction to microeconomics. Whether you are a student preparing for a competitive exam or an individual interested in understanding the dynamics of market behavior, this resource is a valuable tool. Engage with the questions sourced from previous year papers to stay updated with the fundamental concepts, theories, and applications of microeconomics.<\/p>\n\n\n\n<p>By practicing with these MCQs, you can enhance your analytical thinking, problem-solving abilities, and decision-making skills in the context of microeconomic analysis. Develop a solid understanding of concepts such as supply and demand, market structures, consumer behavior, production, cost analysis, and more.<\/p>\n\n\n\n<p>Make the most of this page to excel in your exams. Dive into focused study sessions, reinforce your understanding, and boost your confidence in tackling microeconomics-related questions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction_To_Micro_Economics_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\"><\/span>Introduction To Micro Economics &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who is called the Father of Economics?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62336\">Adam Smith<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62336\">J.M. Keynes<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62336\">Malthus<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62336\"> Ricardo<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A demand curve will not shift:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62339\">When only price of the commodity changes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62339\"> When only income changes<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62339\"> When only prices of substitute products change<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62339\"> When there is a change in advertisement expenditure<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is not an economic problem ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62341\"> Deciding between different ways of spending leisure time<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62341\">Deciding between paid work and leisure<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62341\">Deciding between expenditure on one good and the other<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62341\"> Deciding between alternative methods of personal savings<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The \u2018break-even point&#039; is where<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62344\"> total revenue equals total cost<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62344\">marginal revenue equals marginal cost<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62344\">average revenue equals average cost<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62344\">None of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">\u2018Capital gains\u2019 refers to goods which<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62347\"> find multiple uses<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62347\"> serve as a source of raising further capital<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62347\">help in the further production of goods<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62347\">directly go into the satisfaction of human wants<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">If the average revenue is a horizontal straight line, marginal revenue will be<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62351\"> L shaped<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62351\">U shaped<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62351\">Kinked<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62351\">Identical with average revenue<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Cross elasticity of demand between petrol and car is<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62354\"> negative<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62354\">infinite<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62354\">positive<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62354\">zero<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Production function refers to the functional relationship between input and ___.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62357\">service<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62357\">product<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62357\">produce<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62357\"> output<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Knowledge, technical skill, education etc. in economics, are regarded as<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62359\">working capital<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62359\">social-overhead capital<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62359\">human capital<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62359\"> tangible physical capital<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Seller&#039;s market denotes a situation where :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62363\">supply and demand are evenly balanced<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62363\">commodities are available at competitive rates<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62363\">demand exceeds supply<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62363\"> supply exceeds demand<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The fixed cost on such factors of production which are neither hired nor bought by the firm is called<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62366\"> surcharged cost<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62366\">social cost<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62366\"> opportunity cost<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62366\"> economic cost<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Equilibrium price means<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62369\"> Price determined to maximise profit<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62369\"> Price determined by demand and supply<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62369\">Price determined by Cost and Profit<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62369\">Price determined by Cost of production<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Division of labour is the result of<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62371\">specialisation<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62371\"> Complicated work<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62371\"> excessive pressure<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62371\"> excess supply of labour<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A \u2018Market Economy\u2019 is one which<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62373\"> All of these<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62373\"> is controlled by the Government<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62373\"> is free from the Government control<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62373\"> in influenced by international market forces<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following is having elastic demand ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62376\">Match boxes<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62376\">Electricity<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62376\">Medicines<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62376\"> Rice<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Economies of Scale means reduction in<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62380\">total cost of distribution<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62380\">unit cost of production<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62380\"> unit cost of distribution<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62380\">total cost of production<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">As the number of investments made by a firm increases, its internal rate of return<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62388\">increases because the level of savings will fall.<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62388\">declines due to diminishing marginal productivity.<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62388\"> declines because the market rate of interest will fall, ceteris paribus.<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62388\"> increases to compensate the firm for the current consumption foregone.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The term utility means<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62394\"> None of these<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62394\">usefulness of a commodity<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62394\"> the satisfaction which a commodity yields<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62394\"> the service which a commodity is capable of rendering<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">\u201cEconomics is what it ought to be\u201d - This statement refers to<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62397\">Fiscal economics<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62397\">Normative economics<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62397\">Positive economics<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62397\">Monetary economics<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In a Capitalistic Economy, the prices are determined by :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_62400\"> Sellers in the Market<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_62400\"> Demand and Supply<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_62400\">Government Authorities<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_62400\">Buyers in the Market<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script src=\"https:\/\/code.jquery.com\/jquery-3.6.0.min.js\"><\/script>\r\n<script>\r\n$(document).ready(function() {\r\n  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rel=\"noreferrer noopener\">State GK MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/current-affairs-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs MCQs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" style=\"display:block\" data-ad-format=\"autorelaxed\" data-ad-client=\"ca-pub-6643489308705072\" data-ad-slot=\"2759669284\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Introduction To Micro Economics &#8211; Indian Economy GK MCQ ( \u0938\u0942\u0915\u094d\u0937\u094d\u092e \u0905\u0930\u094d\u0925\u0936\u093e\u0938\u094d\u0924\u094d\u0930 \u0915\u093e \u092a\u0930\u093f\u091a\u092f ) Enhance your understanding of microeconomics with a comprehensive collection of Multiple Choice Questions (MCQs) sourced from previous year papers of various competitive exams, including UPSC IAS. Test your knowledge, sharpen your analytical skills, and stay updated with the fundamental principles [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[75],"tags":[109,773,777,775,771,91,772,589,776,774,590],"class_list":["post-889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-economy","tag-competitive-exams","tag-consumer-behavior","tag-cost-analysis","tag-market-behavior","tag-market-structures","tag-mcqs","tag-microeconomics","tag-previous-year-papers","tag-production","tag-supply-and-demand","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=889"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/892"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}