Role of Business Economics

  S.Y.B.COM Business Economics BEST MCQ     Q. 1 Public finance is the _________________ a) Social Science b) Fiscal Science c) Government Science d) Political Science ANS: B   Q.2 ________ is the study of the role of the government in the economy.  a) Public Revenue  b) Public Expenditure  c) Public Finance  d) Public Investment ANS: C   Q.3 Public Finance does not include__________  a) Public Revenue  b) Public debt  c) Public expenditure  d) Private savings ANS: D   Q.4 Who deals with income and expenditure of public authorities?  a) Public finance  b) Private finance  c) Local government  d) Entrepreneurs ANS: A   Q.5 Public finance deals with which of the following aspect of government?  a) Social  b) Political  c) Financial  d) Human ANS: C   Q.6 _____ is concerned with the division of income and wealth among its people in a society.  a) Allocation function  b) Growth function  c) Stabilization function  d) Distribution function ANS: D   Q.7 Social advantage is maximum when_______________  a) Total social benefits are equal to total social sacrifice  b) Total social benefits equal to marginal social sacrifice  c) Marginal social benefits equals to marginal social sacrifice  d) Marginal social benefits minus marginal social sacrifice ANS: C   Q.8 The principle of maximum social advantage is associated with_________  a) Prof. Dalton  b) Hicks  c) Pigou  d) Keynes ANS: A   Q.9 Who has used the term ‘the maximum welfare’ instead of “maximum social advantage”.  a) Prof. Dalton  b) Prof. Keynes  c) David Ricardo  d) Prof. Musgrave ANS: D   Q.10 Which is the measurement of social advantage?  a) Provision for posterity  b) Improvement of labour productivity  c) Economic stability  d) Public expenditure ANS: D   Q.11 The size of the budget is less than the optimum, when__________  a) Marginal Social Benefit > Marginal Social Sacrifice  b) Marginal Social Benefit < Marginal Social Sacrifice  c) Marginal Social Benefit = Marginal Social Sacrifice  d) Marginal Social Benefit ≠ Marginal Social Sacrifice ANS: B   Q.12 Public expenditure is subject to diminishing ________  a) Marginal Social Sacrifice b) Marginal Social Benefit  c) Marginal Social Investment  d) Marginal Social Savings ANS: B   Q.13 Taxes are subject to increasing __________  a) Marginal Social Sacrifice  b) Marginal Social Benefit  c) Marginal Social Revenue  d) Marginal Social Expenditure ANS: A   Q.14 Tests of maximum social advantage have been suggested by ________  a) Pigou  b) Musgrave  c) Dalton  d) Adam Smith ANS: C   Q.15 According to the Principle of Maximum Social Advantage, Public Expenditure is subject to __________  a) Diminishing Marginal Returns  b) Diminishing Marginal Productivity  c) Diminishing Marginal Utility  d) Increasing Marginal Utility ANS: C   Q.16 PPP- curve is illustrated to explain_____________  a) Economic efficiency  b) Government role  c) Government policy  d) Government Revenue ANS: A   Q. 17 Public goods are _________ in consumption  a) Exclusionary  b) Non-exclusionary  c) Rivalry  d) Monopoly goods ANS: B   Q.18 Following is not the cause of market failure__________  a) Public goods  b) Natural monopoly  c) Externalities  d) Profit ratio ANS: D   Q.19 Production possibility curve is also referred as ___________  a) Production- possibility frontier  b) Consumer curve  c) Producer curve  d) Demand curve ANS: A   Q.20 ________ introduced the concept of production possibility curve  a) Prof. Alfred Marshall  b) Prof. Paul Samuelson  c) Prof. Baumol  d) Prof. Peter Drucker ANS: B   Q.21 Which of the following is a characteristic of a direct tax? a) The impact and incidence are on the same person b) Incidence may be shifted c) Greater burden on the poor than the rich d) Major source of revenue in a developing country ANS: A   Q.22 Which of the following is not a part of administrative revenues? a) Fees b) Fines and penalties c) Special assessment d) Surpluses of public enterprises ANS: D   Q.23 _______ is not the characteristic of tax a) Compulsory payment b) Levied on commodity/income c) Involves sacrifice d) Quid-pro-quo ANS: D   Q.24 ________ is an example of administrative non-tax revenue. a) Grants b) Gifts c) Fees d) Profits from public enterprises ANS: C   Q.25 Special assessment is also known as___________ a) VAT b) Tax revenue c) Betterment levy d) Indirect burden ANS: C   If You Need Most Importance MCQ PDF ECONOMICS Question Bank Than Pay Rs 100 Only  Contact 8652719712 / 8779537141  Telegram Group  Mumbai Univeersity :-   https://t.me/mumbaiuniversityidol   Suraj Patel Education :-   https://t.me/surajpateleducation   F.Y.J.C EXAM :-   https://t.me/FYJCexam   S.Y.J.C EXAM :- https://t.me/SYJCexam   F.Y EXAM :-   https://t.me/fyexam   S.Y EXAM :-   https://t.me/syexam   T.Y EXAM :-   https://t.me/tyexam   M.Com Part 1 EXAM :-   https://t.me/McomPart1Exam   M.Com Part 2 EXAM :-  https://t.me/McomPart2Exam       M.A EXAM :-   https://t.me/mastudentsexam        YouTube Channel    https://www.youtube.com/channel/UCNxVWIrZ1JYB4y-bWXfaBAw     S.Y.B.COM Other Subject MCQ Foundation Course S.Y.Bcom MCQ https://www.surajpateleducation.com/2020/12/foundation-course-sybcom-mcq.html   Business Economics S.Y.B.Com Students MCQ https://www.surajpateleducation.com/2020/10/business-economics-sybcom-students-mcq.html   Company Law MCQ PDF https://www.surajpateleducation.com/2020/12/company-law-mcq-pdf.html   COMMERCE S.Y.B.COM MCQ PDF https://www.surajpateleducation.com/2020/12/commerce-sybcom-mcq-pdf.html   Management Accounts S.Y.B.COM IMPORTANCES MCQ PDF https://www.surajpateleducation.com/2020/12/Management-Accounts%20-S.Y.B.COM-IMPORTANCES-MCQ-PDF.html