MCQ On Economics And Finance
-
When the invoice/bill is made payable on a specific date then the due date is
-
That specific date
-
Date on which the term of the bill expires
-
The date which comes after adding stated number of days
-
The due date of the last bill
-
Explore key economic and financial concepts through this engaging MCQ quiz. Assess your understanding of market behaviors, financial calculations, and economic impacts on employment, with practical scenarios to enhance learning.
(329).jpg "MCQ On Economics And Finance - Quiz")
Quiz Preview
- 2.
What is the amount of del-credere commission when credit sale is Rs.200000 & cash sale is Rs.150000, the amount of commission being 10%?
-
20000
-
15000
-
35000
-
None of the three
Correct Answer
A. 35000Explanation
The del-credere commission is a type of commission charged by a seller to guarantee payment from a buyer. In this case, the credit sale is Rs.200000 and the cash sale is Rs.150000. The commission rate is 10%. To calculate the del-credere commission, we need to find the total sales amount, which is the sum of the credit sale and cash sale (Rs.200000 + Rs.150000 = Rs.350000). Then, we multiply the total sales amount by the commission rate (Rs.350000 * 10% = Rs.35000). Therefore, the correct answer is 35000.Rate this question:
-
- 3.
Unemployment is lower in
-
Rural than urban areas
-
Urban than rural areas
-
Same in both rural and urban areas
-
None of these
Correct Answer
A. Rural than urban areasExplanation
Unemployment is lower in rural than urban areas because rural areas typically have fewer job opportunities and a smaller population, leading to less competition for employment. Additionally, rural areas often have a higher reliance on agriculture and natural resources, which can provide more stable employment opportunities compared to urban areas that are more susceptible to economic fluctuations.Rate this question:
-
- 4.
If each item is reduced by 15 , the standard deviation is
-
Increased by 15
-
Decreased by 15
-
Unchanged
-
None
Correct Answer
A. UnchangedExplanation
When each item in a set is reduced by the same value, it does not affect the spread or variability of the data. The standard deviation measures the dispersion of the data points from the mean, and reducing each item by 15 does not change the relative distances between the data points. Therefore, the standard deviation remains unchanged.Rate this question:
-
- 5.
If electricity demand is inelastic and electric rates increase, which of the following is likely to occur?
-
Quantity demanded will fall by relatively large amount.
-
Quantity demanded will fall by relatively small amount.
-
Quantity demanded will rise in the short-run but fall in the long-run.
-
Quantity demanded will fall in the short-run but rise in the long-run.
Correct Answer
A. Quantity demanded will fall by relatively small amount.Explanation
When electricity demand is inelastic, it means that consumers are not very responsive to changes in price. Therefore, if electric rates increase, the quantity demanded will only decrease by a relatively small amount. This is because consumers are not easily deterred by the higher prices and still require electricity for their daily needs. In other words, the demand for electricity remains relatively stable even when prices go up.Rate this question:
-
Quiz Review Timeline (Updated): Mar 22, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Apr 10, 2016Quiz Created by
Mehtajimmit
Back to top