Commerce & Management•Updated for 2026 Competitive Exams
MCQS on Economics
Practice top multiple choice questions (MCQs), topic summary, and verified answers for MCQS on Economics. Essential for Central & State competitive examinations. Solve these high-frequency practice questions with step-by-step solutions to evaluate your preparation level.
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Practice Questions & Explanations (10 Questions)
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Q1SSC / NDAMedium
Economics is generally defined as the study of:
Q2SSC / NDAMedium
Who is considered the 'Father of Economics'?
Q3SSC / NDAMedium
The fundamental economic problem faced by all societies is:
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Q4SSC / NDAMedium
Microeconomics focuses primarily on:
Q5SSC / NDAMedium
The Law of Demand states that, ceteris paribus, as the price of a good increases:
Q6SSC / NDAMedium
Opportunity cost is best defined as:
Q7SSC / NDAMedium
A market structure characterized by a single seller of a unique product with no close substitutes is a:
Q8SSC / NDAMedium
In economics, 'Capital' as a factor of production refers to:
Q9SSC / NDAMedium
An 'Inferior Good' is defined as a good for which:
Q10SSC / NDAMedium
Gross Domestic Product (GDP) measures:
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