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B.Com Hons — free MCQ practice

Choose from 30 questions across 1 subjects and 3 topics. Open any question for its answer and worked solution, or keep learning through bite-sized lessons and reviews with Quill.

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B.Com Hons subjects

Economics (30)

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Degree EconomicsDemand Supply and EquilibriumEconomics

Try a B.Com Hons question

A shopper wants a phone and can pay for it. Economists call that willingness plus ability:Read the answer and worked solution →A man wants a car badly but has no money at all. Economists say he has no:Read the answer and worked solution →At a price of 50 rupees, buyers would take 200 units. That 200 is called the:Read the answer and worked solution →A cafe raises coffee prices and sells fewer cups. This inverse link is the law of:Read the answer and worked solution →

Worked practice questions

A shopper wants a phone and can pay for it. Economists call that willingness plus ability:

  1. Demand
  2. Desire
  3. Detail
  4. Design
Show answer and solution

Correct answer: A. Demand

1. Wanting alone is not enough for a market. 2. Being able to pay turns the want into a purchase. 3. That combination is demand. _Source: OpenStax Principles of Microeconomics 3e, Chapter 3, Demand and Supply._

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A man wants a car badly but has no money at all. Economists say he has no:

  1. Early payment
  2. Effective demand
  3. Elastic supply
  4. Even discount
Show answer and solution

Correct answer: B. Effective demand

1. He cannot actually pay for the car. 2. A want with no money moves no market. 3. So there is no effective demand. _Source: OpenStax Principles of Microeconomics 3e, Chapter 3, Demand and Supply._

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At a price of 50 rupees, buyers would take 200 units. That 200 is called the:

  1. Quantity demanded
  2. Quality standard
  3. Quarterly target
  4. Quick estimate
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Correct answer: A. Quantity demanded

1. The number is tied to one specific price. 2. It counts units buyers would purchase there. 3. That is the quantity demanded. _Source: OpenStax Principles of Microeconomics 3e, Chapter 3, Demand and Supply._

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