Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of the following is an example of Non-durable good? 

  1. Milk

  2. Bread

  3. Both (a) and (b)

  4. Clothes
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Milk and Bread are examples of Non-durable good. Non-durable gods are those goods which are used-up in a single act of consumption. Bread and milk are used-up in a single act of consumption. The same milk or bread cannot be used again.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of the following is the consumption sector?

  1. Households

  2. Firms

  3. Foreign

  4. Government
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Household is the consumption sector. Household sector receive goods and services from the producer sector for consumption purpose and thus the household sector can be termed as the consumption sector. Households are also the owners of the factors of production.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Refrigerator purchased by a confectionery shop is an example of _______________.

  1. Final Good

  2. Intermediate Good

  3. Capital Good

  4. Both (a) and (c)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Refrigerator purchased by a confectionery shop is an example of intermediate good since refrigerator is not yet ready for use by the final users. Value is yet to be added. Refrigerator is used as a raw material by a confectionery shop.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Foreign embassies in India are a part of India's _______________.

  1. Economic territory

  2. Geographical territory

  3. Both (a) and (b)

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Foreign embassies in India are a part of India's geographical territory and not economic territory. For example: Embassy of USA in India is a  part of domestic territory of USA and a part of geographical territory of India.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of the following is a stock?

  1. Savings

  2. Production

  3. Consumption of fixed capital

  4. Capital
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Capital is a stock since it is measured at a point of time. Capital is not time dimensional. It is not measured over a specified period of time like flow. Therefore, capital is a stock concept.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Bread can either be a consumer good or an intermediate good.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The goods which are consumed by a consumer to satisfy his want is known as consumer goods, while goods used in a production process are intermediate goods. Hence, bread can either be a consumer good or an intermediate good based on its use.