Economics: Multiple Choice Questions with Answers

66. The value of commodity expressed in terms of money is called?

A. Price

B. Utility

C. Value

D. Wealth

67. National Development Council was constituted on –

A. 2 August 1952

B. 6 August 1952

C. 8 August 1952

D. 12 August 1952

68. The most distinguishing feature of Oligopoly is?

A. Number of firms

B. Interdependence

C. Negligible influence on the price

D. Price leadership

69. An expenditure that has been made and cannot be recovered is called?

A. Variable Cost

B. Operational Cost

C. Sunk Cost

D. Opportunity Cost

70. An exceptional demand curve is one that moves?

A. Downward to the right

B. Upward to the right

C. Vertically

D. Horizontally

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