Top 100+ Indian Economy Multiple Choice Questions and Answers - 3

Question: 11

Red tapism and corruption lead to _____

(A) Absence of technology

(B) Efficient use of resources

(C) Inefficiency of production

(D) Inequality of income and wealth

Question: 12

_____ method is used to measure price elasticity as a relative change in demand divided by relative change in price.

(A) Total outlay

(B) Arc

(C) Point

(D) Percentage

Question: 13

Red-tapism and delay by public sector is the one of the demerits of _____ economy.

(A) Mixed

(B) Socialist

(C) Capitalistic

(D) Traditional

Question: 14

_____ has coined the concept of Net Economic Welfare (NEW).

(A) Adam Smith

(B) Samuelson

(C) Robbins

(D) Marshall

Question: 15

Factors determining supply are

(A) Prices of factors of production

(B) Production technology

(C) Taxes and subsidies

(D) All the above