Home > CompTIA Security+ Certification > Quizzes > Basics of Economics Practice Test
Basics of Economics Practice Test
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 24% • Most missed: “Relation between price of a commodity and demand for another commodity is measur…”
Basics of Economics Practice Test
Time left 00:00
25 Questions

1. Which of the following is true?
2. Income elasticity is positive, but less than unity in the case of:
3. Net indirect taxes means:
4. Which of the following is not a method of national income estimation?
5. Returns to scale refers to the production function where
6. The central theme of Keynesian Theory is:
7. Which of the following is true:
8. “Supply creates its own demand” is called:
9. National Income means:
10. Increase in output less than proportional to increase in inputs is called:
11. The ‘point of inflection’ come in which stage of the law of variable proportions
12. When MC is greater than AC, AC
13. In drawing an individual demand curve for a commodity, all but which of the following are kept constant:
14. If a positively sloped linear supply curve crosses the quantity axis, the elasticity of supply is:
15. Consumption expenditure directly varies with:
16. Cross elasticity of demand in the case of substitutes:
17. An increase in market demand, supply remaining the same results in
18. The horizontal supply curve parallel to quantity axis represents
19. Demand varies ............- with price.
20. When MC cuts AC, AC is at its ............
21. Pick the odd one from the following:
22. Increase in real National Income (NI) means increase in:
23. Marginal efficiency of investment curve is:
24. The law of diminishing marginal utility was popularized by:
25. Who is the leader of the Classical school?

⚡ Recently practiced quizzes in this topic
Live quiz activity
CompTIA Security+ Certification Exam CompTIA Cybersecurity Analyst Plus CySA+ CS0-001 Questions CompTIA Security+ SY0-601 Certification Exam Terms To Know Hardening Pentest+ CySA+ (CS0-002) Review Questions Physical Security Cybersecurity Assessment Test Virtualization (And Security) Overview of Security
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.