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Economics Mcqs 4423 MCQs [All-Courses]

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Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

All Topics  4423

As the number of sellers in an oligopoly grows larger, an oligopolistic market looks more like ?
A monopoly
B a competitive market
C monopolistic competition
D a collusion solution
Correct Answer: a competitive market
If oligopolists engage in collusion and successfully from a cartel, the market outcome is ?
A the same as if it were served by competitive firms.
B efficient because cooperation improves efficiency
C the same as if it were served by a monopoly.
D known as a Nash equilibrium
Correct Answer: the same as if it were served by a monopoly.
The market for hand tools (such as hammers and screwdrivers) is dominated by Draper Stanley, and Craftsman This market is best described as ?
A monopolistically competitive
B a monopoly
C an oligopoly
D competitive
Correct Answer: an oligopoly
In cartels ?
A Each individual firm profit maximizes
B There may be an incentive to cheat
C The industry as a whole is loss making
D There is no need to police agreements
Correct Answer: There may be an incentive to cheat
Firms in oligopoly are likely to ?
A Invest heavily in branding
B Act independently of other firms
C Try to differentiate its products
D Try to be a price maker
Correct Answer: Try to be a price maker
In Game Theory ?
A Firms are assumed to act independently
B Firms are assumed to cooperate with each other
C Firms collude as part of cartel
D Firms consider the actions of others before deciding what to do
Correct Answer: Firms consider the actions of others before deciding what to do
In the kinked Demand Curve theory it is assumed that ?
A An increase in price by the firm is not followed by others
B An increase in price by the firm is followed by others
C A decrease in price by the firm is followed by others
D Firms collude to fix the price
Correct Answer: An increase in price by the firm is not followed by others
If a few firms dominate an industry the market is known as ?
A monopolistic competition
B Competitively monopolistic
C Duopoly
D Oligopoly
Correct Answer: Oligopoly
The exchange value of the U.S dollar is primarily determined by ?
A the rate of inflation in the United States
B the number of dollars printed by the U.S government
C the international demand and supply for dollars
D the monetary value of gold held at Fort Knox, Kentucky
Correct Answer: the international demand and supply for dollars
If Canada runs a balance of payments surplus and exchange rates are floating ?
A the value of other currencies will rise relative to the dollar
B the dollar will depreciate relative to other currencies
C the price of foreign goods will become cheaper to Canadians
D the price of foreign goods will rise for Canadians
Correct Answer: the price of foreign goods will become cheaper to Canadians
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