Economics MCQs – Mock Test 34

Demand and Supply Together MCQs with Answers PDF Download – Test 34

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Free Demand & Supply Together MCQ App (Android & iOS) with MCQ: "When quantity supplied is lesser than quantity demanded, this situation is known as"; with answers: surplus, deficit/shortage, increase in supply, and decrease in demand. Practice market forces and demand and supply questions and answers to improve problem solving skills for economics problem solving.

Demand & Supply Together MCQs – Mock Test 34 PDF Download

MCQ 166: When quantity supplied is lesser than quantity demanded, this situation is known as:

deficit/shortage
surplus
decrease in demand
increase in supply

MCQ 167: Payments that are made to individuals by the federal government through various social benefit programs is known as:

transaction cost
transfer payment
precautionary payment
speculative payment

MCQ 168: To find comparative advantage of two nations or people, we will first compare the:

trade efficiency
product
price
opportunity cost

MCQ 169: The simultaneous purchase and sale of an asset to profit from a difference in the price is known as:

depreciation
appreciation
arbitrage
dumping

MCQ 170: Economy faces fluctuations in an economic activity time to time is called:

regular cycle
secular cycle
business cycle
seasonal variation

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