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CMA Foundation Exam: Fundamentals of Economics Practice Test
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The fundamentals of economics and management include:
Basic concepts of economics
Demand
Supply
Equilibrium
Theory of production
Theory of cost
Forms of market
National income
Money
Banking
Financial institutions

CMA Foundation Exam: Fundamentals of Economics Practice Test
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25 Questions

1. In the case of inferior goods, the consumer
2. Which one of the following is the apex bank for agricultural credit in India?
3. Security Market is controlled by the RBI.
4. Cash Balance Approach was given by
5. According to Adam Smith, man is an economic man.
6. The relationship between money supply and price level is
7. Due to the operation of ‘Laws of return to Scale’ LAC curve is
8. The Law of Diminishing Marginal Utility was developed by ____________
9. The ‘Welfare definition’ of Economics was introduced by ______________
10. ________ competition exists when the basic features of Perfect Competition are not present.
11. A Production Function refers to ________________
12. ________ is one among the quantitative methods of credit control.
13. In perfect competition, there is large number of firms producing heterogeneous goods.
14. Point Elasticity was propounded by ________________
15. Commercial banks provide collateral loans against
16. ________ defined economics as a science which deals with wealth.
17. Opportunity cost is measured in terms of the
18. Securities market in India is regulated by the ___________
19. If the price elasticity of demand is |0.5|, then the commodity is
20. _________ is the first Law of Consumption.
21. In India, Central Bank was established in _________
22. _______ means absence of competition.
23. Law of Variable Proportions was developed by _____________
24. A rational producer produces in that region where
25. When excess demand occurs in an unregulated market, there is a tendency for:

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