All Free Economics MCQs with Answers

• A. Dollar
• B. Lari
• C. Peso
• D. Pound

Explanation: Georgia uses the lari, whose currency code is GEL. Dollar, peso and pound are currencies associated with other countries or currency…

• A. Kenya
• B. Myanmar
• C. SriLanka
• D. Japan

Explanation: China is the world's leading tea producer, but among the listed countries Kenya produces the most tea.

• A. Superior
• B. Balkan
• C. Niagara
• D. Angel

Explanation: Niagara Falls is commonly regarded as the world's most famous waterfall because of its tourism, accessibility and international…

• A. United States
• B. Germany
• C. Russia
• D. France

Explanation: “Mild” appears to be a typographical error for “milk”; the United States has traditionally been the leading milk-producing country among…

• A. Cleveland
• B. Sharon
• C. Akron
• D. Wheeling

Explanation: Akron, Ohio, became known as the world's tyre and synthetic-rubber centre because major tyre companies such as Goodyear, Firestone and…

• A. America
• B. Asia
• C. Europe
• D. Australia

Explanation: Asia is the largest continent by population, containing well over half of the world's people.

• A. Australia
• B. Argentina
• C. China
• D. Cuba

Explanation: China is generally the leading producer of rice, especially when measured by total paddy production.

• A. Canada
• B. United States
• C. Brazil
• D. Russia

Explanation: By total forest area, Russia ranks first and Brazil second, while Canada ranks third.

• A. Nepal
• B. Pakistan
• C. India
• D. China

Explanation: India has the world’s largest buffalo population and is therefore the leading buffalo-producing country.

• A. USA
• B. Argentina
• C. China
• D. Cuba

Explanation: China is usually the leading wheat producer by total output, with production supported by extensive cultivated land and strong domestic…

• A. England
• B. Australia
• C. China
• D. India

Explanation: China has the largest sheep population, Australia is generally second, and India is commonly placed third in traditional livestock…

• A. United Kingdom
• B. Australia
• C. China
• D. India

Explanation: China has traditionally maintained the world’s largest sheep population, well ahead of Australia and India.

• A. Thailand
• B. Indonesia
• C. Malaysia
• D. None of these

Explanation: Thailand is the world's leading producer of natural rubber, ahead of Indonesia and Malaysia.

• A. Coal
• B. Natural gas
• C. Petroleum
• D. Uranium

Explanation: Coal, natural gas and petroleum are fossil fuels formed from ancient organic matter.

• A. Iran
• B. Iraq
• C. Saudi Arabia
• D. Venezuela

Explanation: Saudi Arabia is traditionally identified as the leading oil-exporting country in such geography questions because of its very large…

• A. Cobalt
• B. Gypsum
• C. Thorium
• D. Uranium

Explanation: Gypsum is a non-metallic mineral used in plaster, cement and wallboard. Cobalt, thorium and uranium are metallic or metal-bearing minerals.

• A. Ghana
• B. Malaysia
• C. Australia
• D. Chile

Explanation: Chile is the world's largest producer of copper, supported by its extensive deposits and large-scale mining industry.

• A. Australia
• B. Canada
• C. South Africa
• D. Russia

Explanation: Russia is the world's leading producer of diamonds by volume in modern rankings.

• A. increase reduce
• B. increase, increase
• C. reduce, increase
• D. reduce, reduce

Explanation: Removing income tax raises the after-tax return from working, encouraging employment and reducing the equilibrium or natural rate of…

• A. Keynesian policies
• B. Supply-side policies
• C. Monetarist Policies
• D. Classical policies

Explanation: These measures improve incentives to work, hire and invest by reducing labour-market rigidities and business costs.