Economics – Test 5 (MCQ Maharashtra-12th Board)

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#1. If a commodity has many substitutes, then its demand becomes __________

#2. ____________ is the most important determinant of supply.

#3. In __________, the seller has to incur selling cost.

#4. In _____________ , there is a large number of buyers and a single seller.

#5. ____________ is essential for the formation of capital.

#6. Microeconomics assumes______________

#7. Warehouses create ____________ utility

#8. Indirect demand is also known as ___________ demand.

#9. As price falls, demand ___________

#10. Total Revenue ÷ Number of units sold ______________

#11. Microeconomic analysis adopts _____ method.

#12. Market demand is an aggregate of purchasing by ___________ buyer(s).

#13. The supply of agricultural goods mainly gets determined by ______________

#14. The expenditure incurred on advertisement is ____________ cost.

#15. In ___________ market, seller creates product differentiation.

#16. Land is a free gift of __________

#17. Labour is ___________

#18. Microeconomics is a _________ equilibrium approach.

#19. Utility depends on the ______________ of want.

#20. ___________ is the subject matter of macroeconomics.



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