Test: Introduction To Microeconomics - 2


30 Questions MCQ Test Economics for CA CPT | Test: Introduction To Microeconomics - 2


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Attempt Test: Introduction To Microeconomics - 2 | 30 questions in 30 minutes | Mock test for CA Foundation preparation | Free important questions MCQ to study Economics for CA CPT for CA Foundation Exam | Download free PDF with solutions
QUESTION: 1

Which of the following statements is incorrect?

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QUESTION: 2

In a capitalist economy, allocation of resources is done by:

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QUESTION: 3

Which of these is an example of macroeconomics:

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QUESTION: 4

Positive science only explains

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QUESTION: 5

Which of the following is not a feature of a capitalist economy?

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QUESTION: 6

Who has defined economics as “Science which deals with wealth”?

Solution:

Adam Smith defined economics as the 'Science of Wealth'. Adam Smith, the father of economics, published his master piece in 1776 and according to him, the main objective of any human activity is the acquisition and attainment of wealth and economics deals with the acquisition, accumulation and expenditure of wealth.

QUESTION: 7

The term “Mixed Economy” denotes:

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QUESTION: 8

A free market economy’s driving force is:

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QUESTION: 9

Economics which is concerned with welfare proposition is called

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QUESTION: 10

A system of economy in which all the means of production are owned and controlled by the private individuals for the purpose of profit, is called:

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QUESTION: 11

‘Economics is the science of choice making’ it implies:-

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QUESTION: 12

Dual system of pricing exist in:

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QUESTION: 13

A capitalist economy is by and large_________.

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QUESTION: 14

The usual shape of production possibility curve is __________ towards the origin.

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QUESTION: 15

Which of the following are the features of a mixed economy?

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QUESTION: 16

Which one is not the characteristic of capitalistic economy?

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QUESTION: 17

In inductive method, logic proceeds from:

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QUESTION: 18

Which of the following is a part of the subject matter of macroeconomics?

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QUESTION: 19

Micro economics is also known as _______

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QUESTION: 20

A capitalist economy uses _______ as the principal means of allocating resources

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QUESTION: 21

Deductive and Inductive methods are complimentary to each other. It is:

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QUESTION: 22

Where does price mechanism exists?

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QUESTION: 23

According to Robbins, ‘means’ are:

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QUESTION: 24

Under a free economy, prices are:

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QUESTION: 25

Which one in the following is not correct:

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QUESTION: 26

Mixed economy means:

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QUESTION: 27

The term “Mixed Economy” denotes:

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QUESTION: 28

Socialist Economy is also known as

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QUESTION: 29

Inequalities of income do not perpetuate in _________.

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QUESTION: 30

Which of these is a part of microeconomics?

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