Economy

Here are some MCQs on Economy: History & Salient Features 1. When did India gain independence from British colonial rule?a) 1945b) 1947c) 1950d) 1952 2. Who was the first Prime Minister of India?a) Jawaharlal Nehrub) Mahatma Gandhic) Indira Gandhid) Rajendra Prasad 3. Which economic policy was adopted by India after independence?a) Capitalismb) Socialismc) Communismd) Liberalism … Read more

Here are some MCQs on Notable Economists – India and World 1. Who is considered the father of modern economics?a) Adam Smithb) John Maynard Keynesc) Milton Friedmand) Karl Marx 2. Who is known for the theory of comparative advantage?a) Joseph Stiglitzb) Paul Krugmanc) David Ricardod) Friedrich Hayek 3. Amartya Sen, an Indian economist, won the … Read more

Here are some MCQs on important concepts in Microeconomics, Macroeconomics 1. Microeconomics is concerned with the study of:a) Individual consumers and firmsb) National income and employmentc) Aggregate demand and supplyd) Government policies 2. The law of demand states that, ceteris paribus:a) As price decreases, quantity demanded decreasesb) As price increases, quantity demanded increasesc) As price … Read more