Business Economics S.Y.B.Com Students MCQ

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S.Y.B.Com Students 

Sub : Business Economics 

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1. Which of the following is not within the scope of public finance?

A) Public revenue
B) monetary management
C) Public expenditure
D) Financial administration

... Answer is B)  

2. The term functional finance was introduction by

A) J.M. keynes
B) Richard musgrave
C) Hugh Dalton
D) A.P lerner

... Answer is D)  

 

3. When the size of the budget is less then optimum, then

A) MSS < MSB
B) MSS> MSB
C) MSS = MSB
D) NMB is zero

... Answer is A)

4. Market failure results when it fails to

A) Earn supernormal profit
B) Equal distribution income
C) Achieve pareto optimality
D) Equal Dividend

... Answer is C)

5. Productive efficiency occurs when

A) Average cost is declining
B) Marginal cost is negative
C) Maximum number of goods is produced with given amount of inputs
D) Marginal Utility

... Answer is C)

6. ____goods are characterized by two important features, i.e. non –rival in consumption and non- excludability

A) Public goods
B) Private goods
C) Merit goods
D) Agricultural goods

... Answer is A)

7. In economics ,a difference in access to relevant knowledge is called

A) An information gap
B) A frontier gap
C) Information asymmetry
D) Access imperfection

... Answer is C)

8. Which of the following is not a feature of public goods?

A) Non – rival in consumption
B) Non – excludability
C) Free- rider problem
D) Consumers voluntarily pay for such goods

... Answer is D)

9. Which of the following is not a non – tax revenue?

A) Fees
B) Penalties
C) Custom duty
D) Borrowings

... Answer is C)

10. A ____ budget should be followed during depression.

A) Deficit
B) surplus
C) Balanced
D) Neutral

... Answer is A)

11. Classical economist advocated the government to involve in

A) All the activities of the economy
B) Only in most essential activities
C) Selective economic and political activities
D) Is in the form if investment

... Show Answer

12. Maximum social advantage is achieved when

A) Marginal social sacrifice = marginal social benefit
B) Total social sacrifice = total social benefit
C) Average social sacrifice = average social benefit
D) Net social sacrifice = net social benefit

... Answer is A)

13. MSB declines with every additional unit of money spent by the government due to

A) Diminishing marginal returns
B) Diminishing marginal utility
C) Diminishing marginal productivity
D) All the above

... Answer is B)

14. Which of the following is not an assumption of the principle of MSA ?

A) All taxes results in sacrifice
B) Public revenue consists only of taxes
C) All public expenditure lead to benefits
D) The budget may be surplus or deficit

... Answer is D)

15. The maximum welfare principle of budget determination is associated with

A) Hugh Dalton
B) Paul samuelson
C) Edwin Seligman
D) Richard Musgrave

... Answer is D)

16. The ____ involves production of goods and services by using non – optimal combination of inputs.

A) Productive efficiency
B) Productive inefficiency
C) Allocative efficiency
D) Allocative inefficiency

... Answer is B)

17. Left to themselves, markets

A) Will always produce socially acceptable outcome
B) Will always fail to allocate efficiently
C) May produce socially unacceptable outcome
D) Will always correct socially unacceptable outcomes by themselves

... Answer is C)

18. Which of the following is not the characteristics of a tax ?

A) Compulsory payment
B) There is quid – pro – quo
C) Involves some sacrifice
D) None of the above

... Answer is B)

19. Which of the following is the tax rates ?

A) Proportional taxation
B) Progressive taxation
C) Regressive taxation
D) All the above

... Answer is D)

20. In the case of perfectly elastic demand the money burden of tax is

A) Entirely on the seller
B) Partially on the seller
C) Entirely on the buyer
D) Shifted partially to the buyers

... Answer is A)  

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