Economics MCQs
Economics MCQs for CSS, PMS, and competitive exams covering microeconomics, macroeconomics, market structures, fiscal and monetary policy, development, and trade. Test conceptual clarity, analytical skills, and real-world application of economic principles.
Q: Imports exceed exports in a
A) Balanced trade
B) Capital surplus
C) Surplus budget
D) Trade deficit
Q: Inflation above target rate prompts
A) More spending
B) Tax exemption
C) Monetary tightening
D) Higher subsidies
Q: Disposable income is
A) Total salary
B) Investment return
C) Income after taxes
D) Business profit
Q: Consumer surplus equals
A) Market price
B) Cost of production
C) Total revenue
D) Willingness to pay minus actual price
Q: Price ceiling creates
A) Equilibrium
B) Inflation
C) Surpluses
D) Shortages
Q: Oligopoly involves
A) Few sellers
B) Single buyer
C) Perfect competition
D) Free market
Q: Inflation is measured using
A) Forex
B) GDP
C) CPI
D) GNP
Q: Positive economics describes
A) Values
B) Norms
C) Facts and data
D) Opinions
Q: Free market operates through
A) Demand and supply
B) Trade unions
C) Central planning
D) Government laws
Q: Total revenue equals
A) Cost × Time
B) Profit × Output
C) Wage × Hours
D) Price × Quantity