Economics – Test 3 (MCQ Maharashtra 12th Board)

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#1. When price of commodity rises, the demand for it ______________

#2. In ___________, the entry of other firms is restricted.

#3. The supply curve slopes ______________

#4. The slope of demand curve is __________ in the case of inelastic demand.

#5. When the price of petrol goes up, demand of car will _____________

#6. A desire backed by ability to pay and willingness to pay for a commodity is called.

#7. Marshall assumes __________________ measurement of utility.

#8. ___________ is the important assumption of microeconomics.

#9. Facility of E – banking is provided through ___________

#10. During depression ____________ budget is preferable.

#11. Macroeconomics does not study

#12. The elasticity of demand of pins is ___________

#13. ______________ utility is the utility derived from the last unit of a commodity consumed.

#14. Microeconomics is concerned with the study of

#15. Every loan creates a _________

#16. When government revenue exceeds government expenditure, it is known as _____________ budget.

#17. Bank Rate is also called as ______________ rate.

#18. The most liquid asset is _____________

#19. The part of income which is spent on consumption is called __________

#20. In India, the responsibility for the calculation of national income rest with ______


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