1000+ Economics MCQs (PDF Download)

To prepare for various employment exams, read or download Economics MCQs with solutions in pdf format. Candidates must comprehend the types of MCQs that were asked in the paper exams in order to prepare effectively and achieve higher exam scores.

You may see where you need to improve and where you made mistakes by reading CSS economics MCQs and comparing your responses to our solutions. Additionally, by using Economics MCQs, you can concentrate more on your weak subject, which can enhance your exam score as a whole.

You’ll notice that many MCQs are asked repeatedly in exams; practise these crucial Economics MCQs with answers to do well on your next tests.

Economics MCQs (PDF Download)

Q. What is it termed when two percentage points more of real GDP growth is connected with a percentage point decrease in unemployment?

A. Okun’s Law

B. classical theory

C. Consumer price index

D. none of the above

Q. Who is the man credited with founding economics?

A. J.P Kense

B. David Ricordo

C. Adam Smith

D. Mankew

Q. In terms of economics, the term “utility” denotes:

A. versatility and flexibility

B. rationality

C. pleasure and satisfaction

D. purposefulness

Q. What is known in economics as the joy, happiness, or satisfaction derived from a product?

A. marginal cost

B. rational outcome

C. status fulfillment

D. utility

Q. When economists claim that people make rational decisions in their own best interests, what do they really mean?

A. look for and pursue opportunities to increase their utility

B. generally disregard the interests of others

C. are mainly creatures of habit

D. are unpredictable

Q. “Want is a rising monster whom the coat of Have was never large enough to cover,” wrote Emerson. The reasons why “Want” is more than “Have” are as follows:

A. people are greedy

B. productive resources are limited

C. human beings are inherently insecure

D. people are irrational

Q. Economists assert that economic self-interest:

A. is a reality that underlies economic behavior

B. has the same meaning as selfishness

C. is more characteristic of men than of women

D. is usually self-defeating

Q. Asim chooses to enter a building through an open door rather than exerting the physical effort to open the closed door that is in his way. This is an illustration of:

A. irrational behavior

B. a lazy person

C. marginal benefit-marginal cost analysis

D. programmed learning

Q. In which year was the first Nobel Prize in Economics awarded?

A. 1901

B. 1969


D. 1968

Q. a country’s economic resources

A. Are always found

B. Can never decease

C. Always increase over time

D. Are limited at any moment in time

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