Economics Questions Answers Quiz

Welcome to DataFlair’s Economics Questions Answers Quiz. It covers important topics like Monopoly Structure and the modern welfare criteria.

Before you start this online Economics Quiz, do not forget to check other parts of Economics Quizzes from the series of 10+ quizzes. All these quizzes will help you in revising Economics for UPSC:

• Economics Quiz – 1
  
• Economics Quiz – 2
  
• Economics Quiz – 3

So let us start the test and check our Economics Knowledge.

Summary

If you have successfully completed the quiz, then we are proud and glad to tell you that you may strike off the topics of market structure and the modern welfare criteria from the to-do syllabus for your UPSC exam.

It is important to study the various economists like Hick and Kaldor, Scitvosky, Arrow, and A.K Sen for modern welfare criteria. And study the readings of Chamberlin, Cournot, Bertrand, and Edgeworth for the topic of market structure.

There are different types of market structures that exist which include the monopolist market, oligopolistic market, and the duopolistic market.

It is vital to understand the features of the respective markets to answer the case study based questions. The different terms that are relating to the concepts also need to be dealt with care and understanding.

This includes terms like the Lorenz curve, Shorrok’s theorem, Gini coefficient, Atkinson’s theorem, and some more. These concepts and studies are derived after several years of observations and experiments.

So, one should look out for all the steps that were taken before concluding a particular theorem.