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VIM102

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Q1)Macroeconomicsprovidesanexplorationtothefunctioningofaneconomyin
1)General

2)Particular

3)Partial

4)Global

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Explanation:

Q2)costmeasuresthesacrificemadefortakingadecision
1)Opportunitycost

2)Marginalcost

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3)Averagecost

4)Economiccost

Explanation:

Q3)Whichofthefollowingisincorrect?

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1)PerfectlyelasticE=

2)perfectlyinelasticE=1

3)unitaryinelasticE=1

4)relativelyinelasticE<1

Explanation:

Q4)Ifmarginalcostequalstoaveragetotalcost

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1)Averagetotalcostisfalling

2)Averagetotalcostisrising

3)Averagetotalcostismaximized

4)Averagetotalcostisminimized

Explanation:

Q5)Intheshortperiodthenationalincomeisdeterminedby
1)Aggregatedemandandprice

2)Aggregatesupplyandprice

3)Aggregatedemandandaggregatesupply

4)AggregateDemandonly

Explanation:

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Q6)EBITorOperatingprofitequals

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1)Salesrevenue+costofgoodssold+all

2)Salesrevenuecostofgoodssold+all

3)Salesrevenueallexpensesexceptfor

4)Salesrevenuecostofgoodssold+all

expensesexceptforinterestandtaxes

interestandtaxes

expensesexceptforinterestandtaxes

expenseswithinterestandtaxes

Explanation:

Q7)Economistsmakeassumptions
1)Todiminishthechanceofwronganswers.

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2)Tomakecertainthatallnecessaryvariables

areincluded.

3)Becauseallscientistsmakeassumptions.

4)Tomaketheworldeasiertounderstand.

Explanation:

Q8)Kinkeddemandcurveisthecharacteristicof

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1)Oligopoly

2)Monopoly

3)Perfectcompetition

4)Monopolisticcompetition

Explanation:

Q9)AccordingtoRobbinseconomicsis

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1)Positiveandethicalscience

2)Positiveandunethicalscience

3)Normativeandethicalscience

4)Normativeandunethicalscience

Explanation:

Q10)Quantitydemandedisalwaysexpressedatagiven
1)Income

2)Price

3)Value

4)Supply

Explanation:

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Q11)Scarcityisaconditionthatexistswhen:

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1)thereisafixedsupplyofresources.

2)thereisalargedemandforaproduct.

3)resourcesarenotabletomeettheentire

4)thesupplyisequaltodemand.

demandforaproduct.

Explanation:

Q12)Monopolyfirm,inlongrunearn

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1)Normalprofit

2)Abnormalprofit

3)Normalloss

4)Abnormalloss

Explanation:

Q13)Undermethodofforecastingfirmcanobtaintheinformationfromdoorto

doorsurvey

1)Consumerssurvey

2)Completeenumerationsurvey

3)Delphitechnique

4)Samplesurvey

Explanation:

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Q14)Afirmunderhasaregulartendencytoshowexcesscapacity
1)Oligopoly

2)Duopoly

3)Perfectcompetition

4)Monopolisticcompetition

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Explanation:

Q15)Theperiodof12thfiveyearplanis

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1)20122017

2)20122016

3)20102015

4)20072012

Explanation:

Q16)Thegovernmentwantstoreducetheconsumptionofelectricityby5%.Theprice

elasticityofdemandforelectricityis0.4.Thegovernmentshould

1)raisethepriceofelectricityby.08%.

2)lowerthepriceofelectricityby.4%.

3)raisethepriceofelectricityby12.5%.

4)raisethepriceofelectricityby2%.

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Explanation:

Q17)Ifanythingflowingfromthecircularflowistermedas
1)Leakage

2)Injection

3)Flowing

4)Flying

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Explanation:

Q18)Moneyis:

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1)Consumergood

2)Capitalgood

3)Producergood

4)Neitherofthem

Explanation:

Q19)Thebasisofmicroeconomicis

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1)Pricemechanism

2)Fullemployment

3)Nationalincome

4)Pricestability

Explanation:

Q20)Howpricesaredeterminedinthefreemarket?

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1)Withthehelpofdemandandsupply

2)Priceandsupply

3)Supplyandprice

4)Managers

Explanation:

Q21)Whenpeoplehaveverylittletimetorespondtopricechanges,demandbecomes:
1)Moreelastic

2)Lesselastic

3)Unitaryelastic

4)Timedoesnotaffectpriceelasticity

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Explanation:

Q22)Incaseofincreaseindemand,thedemandcurve:
1)Shiftsleftwards.

2)Shiftsrightwards.

3)Willhaveupwardslope

4)Willbehorizontal.

Explanation:

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Q23)Infreeenterpriseeconomybasiceconomicproblemsaresolvedwiththehelpof
1)Pricemechanism

2)Demandandsupplyinteraction

3)Government

4)Centralplanningdepartment

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Explanation:

Q24)Duetoascarcityofresources,
1)Everysocietymustundertakecentralplanning

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2)Thegovernmentmustdecidehowtoallocate

availableresources

3)Somemembersofeachsocietymustlivein

poverty

4)Everysocietymustchooseamongcompeting

usesofavailableresources

Explanation:

Q25)Theelasticityofsupplyisdefinedastheresponsivenessofthequantitysuppliedofa

goodstoachangein

1)Oneofthevariablefactoronwhichsupply

depends

2)Itsincome
3)Itsprice

4)Itscost

Explanation:

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Q26)Crosselasticityinmonopolyis

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1)One

2)Positive

3)Zero

4)Negative

Explanation:

Q27)InIndiaduopolyexistsinthefollowingindustry:
1)HeavyCommercialVehicles

2)SoftDrinks

3)OralCareProducts

4)Detergents

Explanation:

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Q28)Whichoneofthefollowingwouldbeanexampleofmarketfailurerequiring

governmentinterference?

1)Competitionamongbusinessesdrivesdown

2)Negativeexternalitiesaregeneratedby

3)Mr.Bhatiisoffered50millionperyeartoplay

4)Consumersareinfluencedbyadvertising

thepriceofcalculatorssolowthatmany
producersgobankrupt

basketball.

Explanation:

Q29)

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businessproductionpollutingthe
environment.

convincingthemtobuyproductstheydonot
need.

istheexampleofmixedeconomy

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1)India

2)USA

3)UK

4)ErstwhileUSSR

Explanation:

Q30)Ifthedemandcurveisparalleltoxaxis,thenelasticityofdemandis
1)Zero

2)One

3)Infinite

4)Greaterthanone

Explanation:

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Q31)Infinitepriceelasticityisthecharacteristicof
1)Perfectcompetition

2)Monopoly

3)Oligopoly

4)Duopoly

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Explanation:

Q32)Theprofitwhichthefirmmustearniftheyareremainintheindustryiscalled
1)Marginalprofit

2)Normalprofit

3)Equimarginalprofit

4)DividendProcuring

Explanation:

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Q33)Whichofthealternativestothemoderntheoryofthefirmholdsthatmanagers

attempttomeetsomegoalthatisdefinedintermsofaspecifiedlevelofsales,
profits,growthormarketshare?

1)Salesmaximizationmodel

2)Managementutilitymaximizationmodel

3)Satisficingmodel

4)Profitmaximizationmodel

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Explanation:

Q34)Underinductivemethodthelogicproceedfrom
1)Generaltoparticular

2)Positivetonormative

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3)Normativetopositive

4)Particulartogeneral

Explanation:

Q35)Microeconomicsisconcernedwith:

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1)Theeconomyasawhole

2)Theelectronicsindustry

3)Thestudyofindividualeconomicbehavior

4)Theinteractionswithintheentireeconomy

Explanation:

Q36)Ifthecrosspriceelasticitybetweentwogoodsisnegative,thetwogoodsarelikely

tobe:

1)Substitutes

2)Complements

3)Necessities

4)Luxuries

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Explanation:

Q37)Demandforanormalproductmayshiftoutwardsif:
1)Pricedecreases

2)Thepriceofasubstituterises

3)Thepriceofacomplementrises

4)Incomefalls

Explanation:

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Q38)Inafreemarketeconomy,whenconsumersincreasetheirpurchaseofagoodand

thelevelofexceedsthenpricetendstorise.

1)Demand,supply

2)Supply,demand

3)Prices,demand

4)Profits,supply

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Explanation:

Q39)Whichstatementistrueofthebasiceconomicproblem?

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1)Theproblemwillexistaslongasresources

2)Theproblemexistsonlyinlessdeveloped

3)Theproblemwilldisappearasproduction

4)Theadvancementoftechnologywillcausethe

arelimitedanddesiresareUnlimited.

countries.

expands.

problemtodisappear

Explanation:

Q40)Economiccost=cost+cost.
1)Accounting,Explicit

2)Implicit,explicit

3)Accounting,outlay

4)Explicit,imputed

Explanation:

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Q41)Marketwithonebuyerandoneselleriscalled
1)Monospony

2)Monopoly

3)Bilateralmonopoly

4)None

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Explanation:

Q42)Whichofthefollowingcostisnotrecordedinthebooksofaccount?
1)Directcost

2)Indirectcost

3)Opportunitycost

4)Explicitcost

Explanation:

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Q43)Marginalrevenueisequaltopriceforwhichoneofthefollowingtypesofmarket

structure?

1)Monopoly

2)PerfectCompetition

3)Monopolistic

4)Oligopoly

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Explanation:

Q44)Err:509

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1)GAAT

2)IMF

3)IBRD

4)NoneofThese

Explanation:

Q45)Whichamongthefollowingsmeansthecostofforegoneopportunities?
1)DiscountingPrinciple

2)OpportunityCost

3)InventoryManagement

4)PrincipleofTimePerspective

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Explanation:

Q46)istheprobablemeasurementofuncertainty
1)Opportunitycost

2)Marginalcost

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3)Risk

4)Insurance

Explanation:

Q47)Demandforacommodityisdefinedas

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1)Wantforthecommodity

2)Quantitydemandedforaparticularcommodity

3)Desireforthecommodity

4)Quantitydemanded

Explanation:

backedbywillingnesstopay.

Q48)TheLawofSupplystatesthatwhenthepriceofacommodityrises,thequantity

supplied.

1)Rises.

2)Falls.

3)Doesnotrise.

4)Doesnotfall

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Explanation:

Q49)Managerialeconomicsbasically

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1)PositiveEconomics

2)NormativeEconomics

3)PositiveandNormativeboth

4)NegativeEconomics

Explanation:

Q50)Homogeneityoftheproductisacharacteristicfeatureof
1)Monopoly

2)Perfectcompetition

3)Monopolisticcompetition

4)Oligopoly

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Explanation:

Q51)Thecoordinatingmechanismintheeconomyofthepricesystemwasdescribedby

AdamSmithas:

1)Visiblehand

2)Invisiblehand

3)TotalRevenue

4)Profits

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Explanation:

Q52)FullformofFDIis

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1)Fastdirectinvestment

2)Foreigndirectinvestment

3)ForeigndivisioninIndia

4)FooddirectInvestment

Explanation:

Q53)Underperfectcompetition,priceoftheproduct

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1)Canbecontrolled

2)Cannotbecontrolled

3)Canbecontrolledwithincertainlimit

4)Controlledbyfirmonly

Explanation:

Q54)Thevalueofelasticityofdemandrangesfrom

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1)Zerotoone

2)Onetoinfinity

3)Alwayszero

4)Zerotoinfinity

Explanation:

Q55)Efficientallocationofresourcesislikelytobeachievedunder
1)Monopoly

2)Monopolisticcompetition

3)Perfectcompetition

4)Oligopoly

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Explanation:

Q56)Themostbasicassumptionuponwhichthefoundationofeconomicsisbasedisthat
1)continuedtechnologicalimprovementis

necessarytostimulateessentialeconomic
growth.

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2)privateownershipofresourcesisnecessary

formaximumeconomicgrowth

3)themarketsystemisthebestofallpossible

productionsystems

4)society'sresourcesarelimitedandunableto

satisfyunlimitedwants
Explanation:

Q57)Economicsis

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1)Science

2)Art

3)Bothaandb

4)Noneofthese

Explanation:

Q58)Priceelasticityofcigaretteis

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1)Lessthanone

2)Morethanone

3)One

4)Relativelyelastic

Explanation:

Q59)Valuemaximizationtheoryfailstoaddresstheproblemof:
1)Risk

2)Uncertainty

3)Sluggishgrowth

4)Selfservingmanagement

Explanation:

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Q60)Whichofthefollowingcurveishorizontal?

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1)Variablecost

2)Fixedcost

3)Marginalcost

4)Totalcost

Explanation:

Q61)Interdependenciesisthefeatureof

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1)Perfectcompetition

2)Monopoly

3)Monopolisticcompetition

4)Oligopoly

Explanation:

Q62)Asperlawofdemandtherelationshipbetweenpriceanddemandis
1)Direct.

2)positive.

3)Proportionate.

4)Inverse.

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Explanation:

Q63)Ifconsumeralwaysspend15%oftheirincomeonfoods,thenincomeelasticityof

demandforfoodis

1)1.15

2)0.15

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3)1

4)Impossibletodetermine

Explanation:

Q64)Iflabourhaslesselasticdemandthancapital,wageswouldbe______thaninterest
1)Less

2)More

3)Equal

4)None

Explanation:

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Q65)Economicproblemarisesmainlyduetospecificreasons
1)Humanwantsareunlimitedandtosatisfy

humanwantsarescarce

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2)Humanwantsonly
3)Enormousraisingpopulationonly

4)Unlimitedmobilityofworkers

Explanation:

Q66)Economicprogress
1)Reflectsthatpeopleareachievinghigher

incomelevelsandliving_x000D_standards.

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2)Requiresthatindividualsworklongerhours.
3)Impliesscarcityisnolongeraproblem.

4)Indicatesincomelevelsarehighereven

thoughenvironmentalandhealth_x000D_
conditionshaveworsened.

Explanation:

Q67)Thesensitivityofthechangeinquantitydemandedtoachangeinpriceiscalled

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1)Incomeelasticity.

2)Crosselasticity.Priceelasticityofdemand.

3)Priceelasticityofdemand.

4)Coefficientofelasticity.

Explanation:

Coefficientofelasticity.

Q68)Thescarcityorscientificorchoicemakingdefinitionofeconomicsisstatedby
1)Adamsmith

2)Samuelson

3)Robbins

4)Scumpeter

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Explanation:

Q69)Incomeelasticityofdemandfordiamondswouldbe:
1)1

2)0

3)>1

4)<1

Explanation:

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Q70)Opportunitycostofmachineproducingonlyoneproductis
1)Low

2)High

3)Infinite

4)Medium

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Explanation:

Q71)Opportunitycostisbestdefinedas:

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1)Howaneconomysufferswheninrecession?

2)Thecostofdecisionexpressedasnextbest

3)Thecostofdecisionexpressedinmonetary

4)Thefinancialcostsassociationwiththe

terms

alternative

productionofgoodsandservices.

Explanation:

Q72)Afirmoperatingunderconditionsofperfectcompetitioncan:

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1)Determinethepriceofitsproduct.

2)Promotethesalesthrougheffective

3)Determineonlythesizeofitsoutput.

4)Capturethemarketbycuttingdowntheprice.

advertisement.

Explanation:

Q73)Inwhichtypeofeconomycaneachproducerallocatehisresourcesbasedonthe

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demand?

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1)Mixedeconomy

2)Marketeconomy

3)Commandeconomy

4)Regulatedeconomy

Explanation:

Q74)Supposeafirmisselling5unitsoftheoutputatthepriceofRs.15perunit.Nowifit

wantstosell6unitsinsteadof5unitsandtherebythepriceoftheproductfallsto
Rs.14thenthemarginalrevenuewillbe

1)14

2)10

3)15

4)9

Explanation:

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Q75)Thestudyofagreementsofeconomyisdonethrough:
1)MicroEconomics

2)MacroEconomics

3)NotMicrobutwithMacro

4)Theoryofpopulation

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Explanation:

Q76)Iftwogoodsareperfectsubstitutesforeachother,thecrosselasticitybetweenthem

is

1)Infinite

2)Zero

3)Positive

4)Negative

Explanation:

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Q77)Abusinessissaidtobemaking_______ifitsrevenuesexceedtheaccountingcost
1)AnAccountingProfit

2)ANormalProfit

3)AnEconomicProfit

4)AnAbnormalprofit

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Explanation:

Q78)WhichisthemethodofmeasuringGDP?
1)Incomemethod

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2)Productivitymethod

3)Productpersuasionmethod

4)Cumulativemethod

Explanation:

Q79)Thediscriminationpricingthatattemptstotakeawaytheentireconsumersurplusis

calleddegreepricediscrimination.

1)First

2)Second

3)Third

4)Fourth

Explanation:

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Q80)Whichamongthefollowingareknownasthefeaturesofmonopoly?
1)Largenumberofbuyers

2)Largenumberofsellers

3)Singleseller

4)Pricetaker

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Explanation:

Q81)Whichofthefollowingistheexampleofcomplementarygoods?
1)Teaandcoffee

2)Teaandsugar

3)Ballpenandinkpen

4)Shoesandgold

Explanation:

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Q82)Inperfectcompetitiveindustriesare

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1)Pricetaker

2)Pricemaker

3)Pricedeterminate

4)Priceregulator

Explanation:

Q83)Profitisthemotiveof

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1)Mixedeconomy

2)Socialisticeconomy

3)Capitalisticeconomy

4)Centrallyplannedeconomy

Explanation:

Q84)Marginalcostchangeduetochangein

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1)Totalcost

2)Averagecost

3)Variablecost

4)Quantityofoutput

Explanation:

Q85)Inequalityofincomeisthecharacteristicof

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1)Capitalisteconomy

2)Socialisticeconomy

3)Mixedeconomy

4)Planningeconomy

Explanation:

Q86)Supposeafirmdecidestoincreaseitsoutput.Thismayinvolveariseinitstotalcost

by30%andwithanincreaseinoutputby15%,thenincrementalcostis

1)2%

2)3%

3)%

4)Noneofthese

Explanation:

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Q87)_________isthestudyofeconomicactionsofindividualsandsmallgroupsof

individuals.

1)MicroEconomics

2)MacroEconomics

3)ManagerialEconomics

4)BusinessEconomics

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Explanation:

Q88)Economistswhoareconcernedaboutthebehaviorofindividualhouseholds,firms

andindustriesarestudying:

1)Nanoeconomics

2)Microeconomics

3)Macroeconomics

4)Neoeconomics

Explanation:

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Q89)Whenconsumersincomeincreases,demandforaninferiorgood.
1)Increases.

2)Decreases.

3)Doesnotchange.

4)Changes.

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Explanation:

Q90)Forcorefooditemsdemandis_______________.
1)Moreelastic.

2)Lesselastic.

3)Unitaryelastic.

4)Notelastic.

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Explanation:

Q91)Grossprofitincludes

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1)Overheadexpenses+interestexpense+taxes

2)Overheadexpenses+interestexpensetaxes

3)Overheadexpensesinterestexpensetaxes

4)Overheadexpensesinterestexpense+taxes

andextraordinaryitems

andextraordinaryitems

Explanation:

andextraordinaryitems

andextraordinaryitems

Q92)InIndiatosomedegreeperfectcompetitionexistsinthefollowingindustry:
1)Cement

2)Soapsanddetergents

3)RiceFarming

4)DentalCareProducts

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Explanation:

Q93)Whattypeofrelationshipexistsbetweenthepriceandquantitydemanded?
1)Direct.

2)Inverse.

3)Positive.

4)Normative.

Explanation:

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Q94)Economicsincludesthefollowingeconomicactivity
1)Production

2)Consumption

3)Exchange

4)Alloftheabove

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Explanation:

Q95)NNPatmarketpricewillbe

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1)GNP+costofcapital

2)GNP+cash

3)GNPatmarketpricesdepreciation

4)GNP+dividend

Explanation:

Q96)istheprobablemeasurementofuncertainty
1)Opportunitycost

2)Marginalcost

3)Risk

4)Insurance

Explanation:

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Q97)Opportunitycostinclude

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1)Implicitcost

2)Explicitcost

3)Bothaandb

4)Neitheranorb

Explanation:

Q98)Accordingtolawofdemandotherthingsbeingequal,ifthepriceofcommodityfalls

thequantitydemandedofitwill

1)Rise

2)Decrease

3)Increase

4)Fall

Explanation:

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Q99)Fromsociety'spointofview,theeconomicfunctionofprofitsandlossesisto:
1)Promotetheequaldistributionofrealassets

2)Achievefullemploymentandpricelevel

3)Contributetoamoreequaldistributionof

4)Reallocateresourcesfromlessdesiredto

andwealth

income

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stability

moredesireduses

Explanation:

Q100)Generaltheoryofemployment,interest,andmoneypropoundedby
1)Keynes

2)Marshall

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3)Marx

4)Knight

Explanation:

Q101)Forthepricetakingfirm

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1)MR<price

2)MR=price

3)MR>price

4)IndeterminaterelationbetweenpriceandMR

Explanation:

Q102)Itisthedifferencebetweentotalrevenueandtotaleconomiccost
1)AccountingProfit

2)NetProfit

3)GrossProfit

4)EconomicProfit

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Explanation:

Q103)Whichbestdescribesademandcurve?
1)Thequantityconsumerswouldliketobuyin

anidealworld

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2)Thequantityconsumersarewillingtosell
3)Thequantityconsumersarewillingandableto

buyateachandeveryincomeallotherthings
unchanged

4)Thequantityconsumersarewillingandableto

buyateachandeverypriceallotherthings
unchanged

Explanation:

Q104)Inthecaseofastraightlinedemandcurvemeetingthetwoaxes,thepriceelasticity

ofdemandatthemidpointofthelinewouldbe

1)Zero

2)One

3)Greaterthanone

4)Lessthanone

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Explanation:

Q105)Positiveaspectsofeconomicsisconcernedwith

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1)Whatoughttobe

2)Whatis

3)Ethical

4)Whyeconomics

Explanation:

Q106)Inlawofdemand,whichisdependentandwhichisindependentvariable?

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1)Priceisdependentdemandisindependent

2)Priceisindependentdemandisdependent

3)Priceanddemandbothdependent

4)Priceanddemandbothindependent

Explanation:

variable

Q107)Thecircularflowofgoodsandincomesshowthe
1)Wagesandsalaries

2)Firmsandhouseholds

3)Incomeandmoney

4)Goodsandservices

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Explanation:

Q108)Inperfectlycompetitivemarketafirminthelongrunoperatesat
1)AC=MC

2)AR=MR

3)MR=MC

4)P=AR=MR=AC=MC

Explanation:

Marks:1.0
Id:45255

Q109)Valuejudgmentpossiblein

Marks:1.0
Id:44828

1)Positivescience

2)Normativescience

3)Deductivemethod

4)Inductivemethod

Explanation:

Q110)ThecommoditywhosedemandisassociatedwiththenameofSirRobertGiffen?
1)Necessarygoods

2)Luxurygoods

Marks:1.0
Id:44938

3)Inferiorgoods

4)Ordinarygoods

Explanation:

Q111)Unemploymentmeansthat:

Marks:1.0
Id:38738

1)thereisexcessdemandinthelabourmarket.

2)atthegoingwagerate,therearepeoplewho

3)peoplearenotwillingtoworkatthegoing

4)therearesomepeoplewhowillnotworkatthe

wagerate.

Explanation:

wanttoworkbutcannotfindwork

goingwagerate.

Q112)WhichmarketbothAR=MR?

Marks:1.0
Id:38791

1)Competitive

2)Monopoly

3)Monopolistic

4)Oligopoly

Explanation:

Q113)Adecreaseinthesupplyofagoodwilltendtocause:
1)anincreaseintheequilibriumpriceand

2)adecreaseintheequilibriumpriceand

3)adecreaseintheequilibriumpriceandan

4)anincreaseintheequilibriumpriceanda

quantity

increaseintheequilibriumquantity

Explanation:

quantity

decreaseintheequilibriumquantity

Marks:1.0
Id:45197

Q114)Graphicalpresentationofdemandschedule

Marks:1.0
Id:38762

1)Demandschedule

2)Demandcurve

3)Demandlaw

4)Lawofdemand

Explanation:

Q115)Economicsistheenquiryintothenatureandcausesofwealthofnationsstated

by

1)Adamsmith

2)Robbins

Marks:1.0
Id:44822

3)Amertyasen

4)Friderman

Explanation:

Q116)Crosselasticitybetweenshoesandcoldrinkis
1)Infinite

2)Greaterthanzero

3)Greaterthanzero

4)Zero

Explanation:

Marks:1.0
Id:44920

Q117)Ifthereissmallchangeinpricecauses,aninfinitechangeindemand,thanelasticity

ofdemandis

1)Equaltozero.

2)Greaterthanone.

3)Lessthanone.

4)Equaltoinfinite

Marks:1.0
Id:38780

Explanation:

Q118)Incaseofmonopoly,demandcurveissameas
1)MRcurve

2)ARcurve

3)ACcurve

4)MCcurve

Explanation:

Marks:1.0
Id:44996

Q119)Economicgoodsaregoodswhich:

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Id:45068

1)Obeythelawsofeconomics

2)Arescarceandlimitedinsupply

3)Aretangible

4)Areintangible

Explanation:

Q120)Theincomeelasticityofdemand:

Marks:1.0
Id:45184

1)ispositiveforaninferiorgood

2)isnegativeforanormalgood

3)isnegativeforaninferiorgood

4)iszeroforaninferiorgood

Explanation:

Q121)Incomeflowisalsoknownas

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Id:44864

1)Productflow

2)Moneyflow

3)Profitflow

4)Cashflow

Explanation:

Q122)Variationindemandmeans_x000D__x000D_
1)Changeindemandwhenprice

changes_x000D_

Marks:1.0
Id:45287
2)Changeindemandwhenpriceisconstant

_x000D__x000D_

3)Changeindemandwhenotherfactorchanges

4)Alloftheabove

Explanation:

Q123)Thefatherofeconomicsis

Marks:1.0
Id:44819

1)Adamsmith

2)Marshall

3)Keynes

4)Samuelson

Explanation:

Q124)Theopportunitycostofamachinewhichcanbeproduceonlyoneproductis
1)Low

2)Infinite

3)One

4)Large

Marks:1.0
Id:44866

Explanation:

Q125)Economicprofitreferstominusallrelevantcosts,bothexplicitandimplicit.
1)Profit

2)Cost

3)Expenses

4)Revenue

Explanation:

Marks:1.0
Id:45051

Q126)Lawrelatedtomonopolyis

Marks:1.0
Id:44999

1)FERA

2)MRTP

3)IDRA

4)FEMA

Explanation:

Q127)Thetwobasicmarketsshownbythesimplecircularflowmodelare
1)Capitalgoodsandconsumergoods

2)Freeandcontrolled.

3)Productandresource

4)Householdandbusiness

Marks:1.0
Id:45063

Explanation:

Q128)NNPequalsto

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Id:45082

1)GNPdividend

2)GNPdepreciation

3)GNPgold

4)GNPcostofcapital

Explanation:

Q129)Identifyfixedcostfromthefollowing

Marks:1.0
Id:44959

1)Labourcost

2)Electricitybill

3)Salaryofwatchman

4)Costofrawmaterial

Explanation:

Q130)Flowsofthefactorofproductionandthegoodsandservicesbetweenthedifferent

sectoris

1)Realflow

2)Moneyflow

3)Cashflow

4)Productflow

Explanation:

Marks:1.0
Id:44865

Q131)Microeconomicisconsideredas

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Id:44861

1)Staticanalysis

2)Dynamicanalysis

3)Changinganalysis

4)Noneofthese

Explanation:

Q132)Inafreemarketeconomytheallocationofresourcesisdeterminedby
1)Votestakenbyconsumers

2)Acentralplanningauthority

3)Byconsumerpreferences

4)Thelevelofprofitsoffirms

Explanation:

Marks:1.0
Id:45060

Q133)dealswithaggregateeconomic

Marks:1.0
Id:44829

1)Microeconomic

2)Macroeconomic

3)Capitalisteconomy

4)Socialisticeconomy

Explanation:

Q134)Thedemandcurveshows
1)themaximumamountconsumersarewillingto

payforparticularunitsofagood

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Id:38767
2)theminimumamountconsumersarewillingto

payforparticularunitsofagood

3)theaverageamountconsumersarewillingto

payforparticularunitsofagood

4)thatconsumerswanttopaythelowestprice

Explanation:

Q135)Scarcitycanbeavoidedbymaking:

Marks:1.0
Id:45069

1)needsunlimited

2)resourceslimited

3)wantsandneedslimited

4)wantsunlimited

Explanation:

Q136)Costisalsoknownasexplicitcost.

Marks:1.0
Id:44844

1)Opportunity

2)Accounting

3)Outlay

4)Sunk

Explanation:

Q137)Allofthefollowingarethecharacteristicofperfectcompetitionexcept
1)Uniformprice

2)Largeno.ofbuyersandsellers

3)Differentiatedgoods

4)Absenceoftransportcoat

Explanation:

Marks:1.0
Id:44967

Q138)Whatistheshapeofdemandcurvefacedbyfirmunderperfectcompetition?
1)Horizontal

2)Vertical

3)Positivelysloped

4)Negativelysloped

Marks:1.0
Id:44968

Explanation:

Q139)Economicsshouldbeneutralbetweenendsstatedby

Marks:1.0
Id:44827

1)Robbins

2)Marshall

3)Pigou

4)Adamsmith

Explanation:

Q140)Therelationshipbetweenquantitysuppliedandpriceis_____andtherelationship

betweenquantitydemandedandpriceis_____.

1)direct,inverse

2)inverse,direct

3)inverse,inverse

4)direct,direct

Explanation:

Marks:1.0
Id:45268

Q141)Ina__________thedecisionsofacentralplannerarereplacedbythedecisionsof

millionsoffirmsandhouseholds.

1)Marketeconomy

2)Businesseconomy

3)Socialeconomy

4)Planteconomy

Marks:1.0
Id:45101

Explanation:

Q142)Economicsisasciencewhichdealswithhumanwantsandtheirsatisfaction.
1)Social

2)Political

3)Natural

4)Physical

Explanation:

Marks:1.0
Id:45052

Q143)WhichOfTheFollowingEconomicIndicatorsShowAdverseEffectOnTheStock

Market?

1)LowDomesticSaving

2)HighForeignExchangeProduction

3)HighIndustrialProduction

4)LowInterestRate

Marks:1.0
Id:45130

Explanation:

Q144)Thesensitivityofthechangeinquantityconsumedofoneproducttoachangeinthe

priceofarelatedproductiscalled

1)Crosselasticity.

2)Substituteelasticity.

3)Complementaryelasticity.

4)Priceelasticityofdemand.

Marks:1.0
Id:38781

Explanation:

Q145)Lawofsupplystates

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Id:38787

1)Inverserelationbetweenpriceanddemand

2)Inverserelationbetweenpriceandsupply

3)Directrelationbetweenpriceanddemand

4)Directrelationbetweenpriceandsupply

Explanation:

Q146)AdamSmithclaimsthatforaneconomytoachievemutualgainsfromvoluntary

Marks:1.0

exchangeitrequires

Id:45023

1)consumersbeingconsiderateoftheirfellow

2)businessesmaintaininggoodwillintheir

3)selfinterestedbehaviorbyconsumersand

4)governmentinterferencewiththemarket.

man

businesses.

businessrelations.

Explanation:

Q147)Amarketwithonesellerisanexampleof:

Marks:1.0
Id:45206

1)Monotony

2)Oligopoly

3)Monopoly

4)Duopoly

Explanation:

Q148)ThewordeconomicscomesfromtheGreekwordfor:
1)Environment

2)Onewhomanagesahousehold

3)Onewhoparticipatesinthemarket

4)Conservation

Marks:1.0
Id:45039

Explanation:

Q149)WhenthepriceofaGiffengoodfalls,itsquantitydemanded.

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Id:45171

1)Rises.

2)Falls.

3)Doesnotchange.

4)Changes.

Explanation:

Q150)Selectthegroupthatbestrepresentsthebasicfactorsofproduction.
1)land,labor,capital,technology

2)land,naturalresources,labor,capital

3)land,labor,capital,entrepreneurship

4)land,labor,money,managementskills

Explanation:

Marks:1.0
Id:45057

Q151)Firmswhichengageinsatisficingbehaviorarelikelytobe
1)Leadingfirmsintheirindustry

2)Innovative,risktakers,performing

3)Conservative,riskaverseandperforming

4)Growthmaximizes

adequately

Marks:1.0
Id:45159

satisfactorily

Explanation:

Q152)AllofthefollowingaredeterminantsofsupplyEXCEPT:
1)Price

2)Objectivesofthefirm

3)Incomelevels

4)Leveloftechnology

Explanation:

Marks:1.0
Id:45210

Q153)Profitsarisebecausetheentrepreneursintroduceinnovationsstatedby
1)Schumpeter

2)Knight

3)Keynes

4)Robbins

Marks:1.0
Id:44863

Explanation:

Q154)Inafreemarket
1)Governmentsintervene

Marks:1.0
Id:45134
2)Governmentsplanproduction

3)Governmentsinterfere

4)Pricesadjusttoreconcilescarcityanddesires

Explanation:

Q155)Perfectcompetition,inlongrunfirmsearn

Marks:1.0
Id:38795

1)Normalprofit

2)Abnormalprofit

3)Normalloss

4)Abnormalloss

Explanation:

Q156)Liberalizationrefersto

Marks:1.0
Id:44884

1)Integrationoftheworldeconomy

2)Transferassetfrompublicsectortoprivate

3)Relaxationofpreviousgovernmentrestriction

4)Allofthese

sector

Explanation:

Q157)SEBIstandsfor

Marks:1.0
Id:44877

1)SecuritiesandexchangeboardofIndia

2)SavingandearningboardofIndia

3)StockexchangeboardofIndia

4)StrategicandeconomicboardofIndia

Explanation:

Q158)Rationaldecisionmakingunderconditionsofscarcityrequiresindividualsto:
1)placeamonetaryvalueoneverythingtheydo.

2)knowthepricesofallgoodstheymight

3)understandthattheyhavetomakechoices,or

4)beconstantlyalerttopricereductionson

tradeoffs

Marks:1.0
Id:45177

possiblybuy.

desiredproducts.

Explanation:

Q159)Whichofthefollowinglawsstatesthatthemoreaconsumerconsumesofaproduct,

thelessistheutilityhederivesfromtheadditionalconsumption?

1)LawofequilibriumMarginalutility.

2)Lawofordinalutility.

Marks:1.0
Id:45261

3)Lawofcardinalutility.

4)Lawofdiminishingmarginalutility.

Explanation:

Q160)ThePrincipalAgentProblemariseswhen

Marks:1.0
Id:45031

1)Theprincipalandtheagenthavedifferent

2)Theprincipalcannotdecidewhetherthefirm

3)Theprincipalcannotenforcethecontractwith

4)Bothaandc

objectives

theagentorfindsittoocostlytomonitorthe
agent

Explanation:

shouldseektomaximizetheexpectedfuture
profitsofthefirmormaximizethepricefor
whichthefirmcanbesold

Q161)Ifanincreaseinconsumerincomeleadstoadecreaseinthedemandforgoodx,

thengoodxis:

1)asubstitute

2)acomplementarygood

3)ainferiorgood

4)anormalgood

Marks:1.0
Id:45196

Explanation:

Q162)Whatarethetwosectorsintwosectormodelofcircularflow?
1)Householdsector&BusinessSector

2)Householdsector&GovernmentSector

3)Householdsector&ForeignSector

4)Householdsector&PrivateSector

Explanation:

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Id:38739

Q163)Ifthesupplyofwaterbottleddecreases,theequilibriumpriceandthe

equilibriumquantity

1)Increases,decreases

2)Decreases,decreases

3)Decreases,increases

4)Increases,increases

Marks:1.0
Id:44952

Explanation:

Q164)Whatdoesmonopolisticcompetitionhaveincommonwithmonopoly?
1)Mutualinterdependence

2)Theabilitytocolludewithrespecttoprice

Marks:1.0
Id:45277

3)Alargenumberoffirms

4)Adownwardslopingdemandcurve

Explanation:

Q165)Marginalutilityanalysisassumes:

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Id:45112

1)Thatutilitycanbemeasured

2)Thatutilitycannotbequantified

3)Theutilityisstatic

4)Noneoftheabove

Explanation:

Q166)Percapitaincomeisassociatedwith

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Id:44831

1)Microeconomic

2)Macroeconomic

3)Positivescience

4)Mixedeconomy

Explanation:

Q167)Theshapeofdemandcurveincaseofperfectlyelasticis
1)Vertical

2)Downwardsloping

3)Horizontal

4)Upwardsloping

Explanation:

Marks:1.0
Id:44906

Q168)Largeno.ofbuyersandsellersarethecharacteristicof
1)Perfectcompetition

2)Monopoly

3)Oligopoly

4)Duopoly

Marks:1.0
Id:44977

Explanation:

Q169)Perfectcompetitionisamarketsituationcharacterizedby

Marks:1.0
Id:45215

1)Asingleseller

2)Limitedsellers

3)Alargenumberofsellers

4)Afewsellers

Explanation:

Q170)Ifthedemandismorethansupply,thenthepressureonpricewillbe
1)Upward

2)Downward

3)Constant

4)Noneoftheabove

Explanation:

Marks:1.0
Id:44953

Q171)ThegovernorofReservebankofIndiais

Marks:1.0
Id:44883

1)D.subbarao

2)Raghuramgovindrajan

3)Bimaljalan

4)Noneofthese

Explanation:

Q172)Elasticityiswhenthepercentagechangeinquantitydemandedisless

thanthepercentagechangeinprice.

1)Greaterthanone

2)Lessthanone

3)Greaterthanzero

4)Lessthanzero

Explanation:

Marks:1.0
Id:44916

Q173)Priceelasticityofsaltis

Marks:1.0
Id:44907

1)Perfectlyelastic

2)Unitaryelastic

3)inelastic

4)relativelyelastic

Explanation:

Q174)WhichofthefollowingfeaturesisNOTseeninimperfectcompetition?
1)Productdifferentiation

2)Pricewars

3)Allgoodsarehomogeneous

4)Allgoodsareheterogeneous

Marks:1.0
Id:45178

Explanation:

Q175)RBIstandsfor

Marks:1.0
Id:44876

1)ReversebankofIndia

2)RiverbankofIndia

3)Reservebankofinvestment

4)Noneofthese

Explanation:

Q176)Marketdemandisaggregationofindividualdemand

Marks:1.0

Id:38761
1)Vertically

2)Horizontally

3)Parallel

4)Diagonally

Explanation:

Q177)Inperfectcompetitivefirmsare

Marks:1.0
Id:38789

1)Pricetaker

2)Pricemaker

3)Pricedeterminate

4)Priceregulator

Explanation:

Q178)Theinteractionofindividualsandfirmsinamarketcanbedescribedasa

ofmoney,goodsandservicesandresourcesthroughproductandfactormarkets.

1)ConstantFlow

2)StableFlow

3)CircularFlow

4)RegularFlow

Marks:1.0
Id:45050

Explanation:

Q179)Accountingprofitisarrivedatwhenexplicitcostsaresubtractedfrom
1)Totalrevenue

2)Explicitcost

3)Implicitcost

4)Totalcost

Explanation:

Marks:1.0
Id:45145

Q180)Withafavourablegovernmentpolicytowardsagricultureandgoodmonsoon

conditions,theagriculturalsupplywillinspiteofaveragepriceofagricultural
goodsremainingconstant.

1)Increase.

2)Decrease.

3)Notchange.

4)Eitherincreaseordecrease

Marks:1.0
Id:45175

Explanation:

Q181)Whichamongthefollowingiseconomicstheory/principles?
1)Lawofdiminishingmarginalutility

2)Newtonslaw

Marks:1.0
Id:38745

3)E=MC2

4)Theoryofgravity

Explanation:

Q182)Thepriceelasticityofdemandforhamburgeris
1)Thechangeinquantitydemandedof

2)Thepercentageincreaseinthequantity

3)Theincreaseinthepriceofthehamburger

4)Thedecreaseinthequantitydemandedof

hamburgerwhenhamburgerincreasesby30
paisaperrupee

whenthepriceofhamburgerfallsby10per
centperrupee

Explanation:

Marks:1.0
Id:44903

demandedofhamburgerwhenthepriceof
hamburgerfallsby1percentperrupee

hamburgerwhenthepriceofthehamburger
fallsby1percentperrupee

Q183)The"lawofdemand"isillustratedbya

Marks:1.0
Id:45247

1)movementalongthedemandcurve.

2)leftwardshiftofthedemandcurve.

3)rightwardshiftofthedemandcurve.

4)BothanswersAandBarecorrect.

Explanation:

Q184)Thereisnodifferencebetweenfirmandindustryin
1)Monopoly

2)Perfectcompetition

3)Monopolisticcompetition

4)Oligopoly

Explanation:

Marks:1.0
Id:44980

Q185)WhatistheEconomicProblem?
1)Theproblemthathighexchangeratesdeter

exports

Marks:1.0
Id:45038
2)Havinghighlevelsofunemployment
3)Matchingendlesswantswithlimitedresources

4)Thefactthateconomiesoftengointo

recession

Explanation:

Q186)Afirmenjoysmaximumcontroloverthepriceofitsproductunder

Marks:1.0

Id:44992
1)Monopoly

2)Perfectcompetition

3)Oligopoly

4)Monopolisticcompetition

Explanation:

Q187)Factorsofproductionare

Marks:1.0
Id:45151

1)Inputsintotheproductionprocess.

2)Weather,social,andpoliticalconditionsthat

3)Thephysicalrelationshipsbetweeneconomic

4)Themathematicalcalculationsrmsmaketo

inputsandoutputs.

Explanation:

aectproduction.

determineproduction.

Q188)WhichofthefollowingstatementsregardingelasticityofdemandisTRUE?
1)Elasticityalwayshasanegativevalue

2)Elasticitycanbepositiveornegative

3)Elasticityalwayshasapositivevalue

4)Elasticitycanneverbezero

Marks:1.0
Id:45243

Explanation:

Q189)Nationalincomeis
1)Thenetoutputofcommoditiesandservices

flowingduringayearfromthecountries
productivitysystem

Marks:1.0
Id:45077
2)Thenetinterest
3)Thedividend

4)Thenetdepreciation

Explanation:

Q190)Inflationrefersto:

Marks:1.0
Id:45126

1)RisingPrices

2)ReducesMoneySupply

3)Increaseddemand

4)Increasedsupply

Explanation:

Q191)Adecreaseinincomeshould:

Marks:1.0
Id:45228

1)Shiftdemandforaninferiorproductinwards

2)Shiftdemandforaninferiorproductoutwards

3)Shiftsupplyforaninferiorproductoutwards

4)Shiftsupplyforaninferiorproductinwards

Explanation:

Q192)Elasticityofdemandisgreaterthan1impliesthatdemandis.
1)Elastic.

2)Inelastic.

3)Relativelyelastic.

4)Relativelyinelastic.

Explanation:

Marks:1.0
Id:45221

Q193)Singlebuyeristhecharacteristicof

Marks:1.0
Id:44978

1)Monopoly

2)Perfectcompetition

3)Duopoly

4)Noneofthese

Explanation:

Q194)Inmonopolisticcompetition,firmsachievesomedegreeofmarketpower:

Marks:1.0
Id:45186

1)Becauseofbarrierstoentryintotheindustry

2)Becauseofbarrierstoexitfromtheindustry

3)Byproducingdifferentiatedproducts

4)Byvirtueofsizealone

Explanation:

Q195)Afallinprice:

Marks:1.0
Id:45226

1)Willcauseaninwardshiftofdemand

2)Willcauseanoutwardshiftofsupply

3)Leadstoamovementalongademandcurve

4)Leadstoahigherlevelofproduction

Explanation:

Q196)MoneyiswhatMoneydoes,wasthedefinitionofMoneygivenby:
1)Walker

2)Robbinson

Marks:1.0
Id:45124

3)Pigou

4)Coulborn

Explanation:

Q197)Whatisthenatureofsupplycurve?

Marks:1.0
Id:38788

1)Positiveslope

2)Negativeslope

3)Naturalslope

4)Downwardslope

Explanation:

Q198)BecauseoftheLawofSupply,supplycurves:
1)slopedownward.

2)slopeupwards.

3)areperfectlyvertical.

4)areperfectlyhorizontal.

Marks:1.0
Id:45209

Explanation:

Q199)Ineconomicsfinancialyeariscalled:

Marks:1.0
Id:45041

1)AccountingYear

2)FinancialYear

3)FiscalYear

4)MonetaryYear

Explanation:

Q200)Foramonopoly,marginalrevenueisequalto

Marks:1.0
Id:45194

1)Thepriceoftheproduct

2)Theamountpeoplebuybetweentwoprices

3)Theamountpeoplebuyatagivenprice

4)Thechangeintotalrevenuebroughtaboutby

aoneunitincreaseinquantitysold

Explanation:

Q201)Whichoneofthefollowingisanexampleofanexternality,amarketshortcoming

whichrequiresgovernmentinterference?

Marks:1.0
Id:45026

1)AmajorityofPunekarareoverweightbecause

2)BhatigetspaidmorethanRs.25millionper

3)Excessivepollutiongeneratedbybusiness

4)Successfuladvertisingconvincesconsumers

theyhaveunhealthydiets.

yeartoplaybasketball.

productionisdamagingtheenvironment.

tobuyproductstheycannotaffordanddonot
need.

Explanation:

Q202)Equilibriumreferstoamarketsituationwhere

Marks:1.0
Id:44950

1)Quantitysuppliedisequaltoquantity

2)Quantitysuppliedisgreaterthanquantity

3)Quantitydemandedisatitslowestpoint

4)Demandcurveintersectthesupplycurveatits

demanded

Explanation:

demanded

lowestpoint.

Q203)Meaningofmicroeconomics

Marks:1.0
Id:38734

1)Studyofthegeneraloutput

2)Studyofgeneralemployment

3)Studyofemploymentinaparticularfirm

4)Studyofnationalincome

Explanation:

Q204)Inperfectcompetition,D=203pp2andthesupplycurveisS=p1,wherepisprice,

DisdemandandSisSupply,findtheequilibriumpriceandequilibriumquantity.

1)4and5

2)3and2

3)6and7

4)5and4

Explanation:

Marks:1.0
Id:45165

Q205)TheauthorofAnessayonthenatureandsignificanceofeconomicscience
1)Adamsmith

2)Marshall

3)Robbins

4)HicksandAllen

Marks:1.0
Id:44857

Explanation:

Q206)Ifnewfirmsenteramonopolisticallycompetitivemarket,thedemandcurvesforthe

existingfirmswill:

1)Shifttotheleftandbecomemoreprice

inelastic

Marks:1.0
Id:45176

2)Shifttotheleftandtherewillbenochangein

priceelasticity

3)Shifttotheleftandbecomemorepriceelastic

4)Shifttotherightandtherewillbenochangein

priceelasticity

Explanation:

Q207)Demandforthecommoditydependson

Marks:1.0
Id:44926

1)Priceofthecommodity

2)Priceoftherelatedgoods

3)Income

4)Alloftheabove

Explanation:

Q208)Whichamongthefollowingsisknownastheownersoffactorsofproductioninthe

circularflow?

1)Household

2)Business

3)Government

4)Foreign

Marks:1.0
Id:38740

Explanation:

Q209)Humanwantsare

Marks:1.0
Id:44823

1)Unlimited

2)Limited

3)Scarce

4)Fullysatisfied

Explanation:

Q210)Adamsmithswealthofnationspublishedin

Marks:1.0
Id:44859

1)1776

2)1931

3)1808

4)1775

Explanation:

Q211)Iftechnologyimprovessignificantly,itwillhaveaimpactonthequantity

suppliedofacommodity.

Marks:1.0
Id:45203

1)Positive.

2)Negative.

3)Small.

4)Large.

Explanation:

Q212)Robbinsemphasizedon

Marks:1.0
Id:44824

1)Normativeaspectofscience

2)Positiveaspectofscience

3)Negativeaspectofscience

4)NonMaterialaspectofscience

Explanation:

Q213)AssumethatinthemarketforgoodsZthereissimultaneousincreaseindemandand

thequantitysupplied.theresultwillbe

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1)Anincreaseinequilibriumpriceandquantity

2)Adecreaseinequilibriumpriceandquantity

3)Anincreaseinequilibriumquantityandprice

4)Decreaseinequilibriumpriceandquantity

remainssame

remainssame.

Explanation:

Q214)Optimizationmeans

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Id:38756

1)Maximization

2)Minimization

3)Maximizationofprofit

4)Itdepends,thesituation,sometimes

Explanation:

maximizationandsometimesminimization

Q215)Whatisoriginalpriceofacommoditywhenpriceelasticityis0.71anddemand

changesfrom20unitsto15unitsandnewpriceisRs.10.

1)15

2)10

3)8

4)20

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Explanation:

Q216)Thewordeconomicsderivedfrom
1)Greekwords

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Id:44817
2)Italianwords

3)Sanskritwords

4)Spanishwords

Explanation:

Q217)Productdifferentiationistheformof

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Id:45012

1)Pricediscrimination

2)Nonpricecompetition

3)Collusiveoligopoly

4)Priceleadership

Explanation:

Q218)Thedegreeofisalsoknownasconcentrationofeconomicpower.
1)Oligopoly

2)Duopoly

3)Monospony

4)Monopoly

Marks:1.0
Id:45013

Explanation:

Q219)WhenbeAnalysetheproblemofeconomyasawholeitisastudyof:
1)MicroEconomics

2)MacroEconomics

3)BothMacroandMicroEconomics.

4)Noneofthese

Explanation:

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Id:45116

Q220)Therearebranchesofeconomics

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Id:44843

1)2

2)4

3)5

4)3

Explanation:

Q221)IfaproductisaVeblengood:

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Id:45229

1)Demandisinverselyrelatedtoincome

2)Demandisinverselyrelatedtoprice

3)Demandisdirectlyrelatedtoprice

4)Demandisinverselyrelatedtothepriceof

substitutes

Explanation:

Q222)Incomeelasticityofnecessitygoods

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Id:44936

1)Greaterthanone

2)Lessthanone

3)Lessthanzero

4)Greaterthanzero

Explanation:

Q223)IfAR=AC,thefirmwillget

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Id:44979

1)Abnormalprofit

2)Normalprofit

3)Loss

4)Noprofitnoloss

Explanation:

Q224)Theoryofinvestmentisapartof

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Id:44860

1)Microeconomics

2)Pricetheory

3)Incometheory

4)Positivescience

Explanation:

Q225)Thesupplyofagoodrefersto

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Id:38786

1)Actualproductionofthegood

2)Totalexistingstockofthegood

3)Stockavailableforthesale

4)Amountofthegoodofferedforsaleata

particularpriceperunitoftime

Explanation:

Q226)ThedemandforCheerioscerealismorepriceelasticthanthedemandforcerealsas

awhole.Thisisbestexplainedbythefactthat:

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Id:45266

1)Cheeriosarealuxury.

2).cerealsareanecessity._x000D_c.

3)therearemoresubstitutesforCheeriosthan

4)consumptionofcerealsasawholeisgreater

forcerealsasawhole.

Explanation:

thanconsumptionofCheerios.

Q227)TheLawofSupplystatesthatasthepriceofaproductincreases:

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Id:45242

1)consumerswillbuylessoftheproduct.

2)sellerswillofferlessoftheproductforsale.

3)sellerswilloffermoreoftheproductforsale.

4)newbuyerswillenterthemarketbecausethe

productappearspopular.

Explanation:

Q228)Thestudyofeconomicactionsofindividualsandsmallgroupsofindividualsis

knownas

1)Macroeconomics

2)Microeconomics

Marks:1.0
Id:45284

3)Bothaandb

4)Noneoftheabove

Explanation:

Q229)Homogeneousordifferentiatedproductisthefeatureof
1)Oligopoly

2)Monopoly

3)Perfectcompetition

4)Monopolisticcompetition

Explanation:

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Id:45003

Q230)Whichofthefollowingisacartel?

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Id:44997

1)UNO

2)IMF

3)EEC

4)OPEC

Explanation:

Q231)Kinkeddemandcurveisrelatedto

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Id:38799

1)Perfectcompetition

2)Monopoly

3)Monopolisticcompetition

4)Oligopoly

Explanation:

Q232)SupposedemandisexpressedasQD=30050P.Ifwewanttomakethisequation

consistentwiththetypicalsupplyanddemanddiagram,thisequationmustbestated
as

1)P=30050Q

2)P=6.02Q

3)P=50300Q

4)Q=6.02P

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Id:38804

Explanation:

Q233)FiscalyearofIndiaisrecordedas:

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Id:45045

1)1stJanuaryto31stDecember

2)1stJuneto31stMay

3)1stAprilto31stMarch

4)1stSeptemberto31stAugust

Explanation:

Q234)Principalagentproblemarisesbecause

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Id:45014

1)Objectivesofprinciplesarenotmetbythe

2)Objectivesofprinciplesaremetbythe

3)Objectivesofmanagersaremetbytheagents

4)Objectivesofmanagersarenotmetbythe

managers

Explanation:

managers

agents

Q235)Negativeslopedwithhigherelasticitydemandcurveisrelatedto
1)Perfectcompetition

2)Mopolisticcompetition

3)Monopoly

4)Oligopoly

Marks:1.0
Id:44987

Explanation:

Q236)Thefirmhasnocontroloverthepriceoftheproductinwhichofthefollowingmarket

structures

1)Monopoly

2)Perfectcompetition

3)Oligopoly

4)Monopolisticcompetition

Explanation:

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Id:45279

Q237)Demandforaproductisbestdefinedas

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1)Variousquantitiesthataredemandedby

2)Totalquantityofaproductdemandedata

3)Totalquantityofaproductdemandedduringa

4)Variousamountsdesiredbyconsumers.

consumers

givenperiodoftime.

particularpriceinthemarketduringagiven
periodoftime

Explanation:

Q238)Whichofthefollowingisabarriertoentrythattypicallyresultsinmonopoly?
1)Thefirmcontrolstheentiresupplyoftheraw

material

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Id:45188

2)Productionoftheindustrysproductissubject

toeconomiesofscale

3)Thefirmholdsanexclusivegovernment

regulation

4)Productionofthisproductneedsalarge

capitalinvestment

Explanation:

Q239)Identifythefactorwhichgenerallykeepsthepriceelasticityofdemandforagood

low

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Id:44915

1)Varietyofusesforthatgoods

2)Itslowprice

3)Closesubstituteforthatgood

4)Highproportionofconsumerincomespenton

Explanation:

it

Q240).__________includesallpaymentpaidtofactorsofproductionandopportunitycost.
1)Implicitcosts.

2)Explicitcosts.

3)Economiccosts.

4)Accountingcosts.

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Id:45262

Explanation:

Q241)ThetheoryofInvisiblehandisgivenby

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Id:45055

1)Samuelson

2)PeterDrucker

3)AdamSmith

4)Marshall

Explanation:

Q242)Whichofthefollowingisnotamicroeconomicproblem?
1)Whattoproduce

2)Howtoproduce

3)Forwhomtoproduce

4)Wheretoproduce

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Id:44836

Explanation:

Q243)Inmonopolisticcompetition,afirm:

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Id:45232

1)Hasnomarketpower.

2)Capturessignificanteconomiesofscale

3)Hasadownwardslopingdemandcurve.

4)Hasastandardizedproductthatallfirms

produce
Explanation:

Q244)Thepointwherethetotalrevenuelinecrossesthetotalcostlinecalled
1)Pointofinflection

2)Breakevenpoint

3)Equilibriumpoint

4)Splitofpoint

Explanation:

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Id:45211

Q245)Economicsisconcernedwith:

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Id:45065

1)earningasmuchmoneyaspossible.

2)limitingindividuals'wantssothatourscarce

3)usingscarceresourcestosatisfyvirtually

4)usingasmanyworkersaspossibletoproduce

limitlessmaterialwantsandneeds.

resourceswillnotbeusedup.

anygivenlevelofoutput.

Explanation:

Q246)Numericalvalueofrelativelyinelasticis

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Id:44905

1)Zero

2)Infinite

3)Greaterthanone

4)Lessthanone

Explanation:

Q247)Theupperportionofkinkeddemandcurveisrelatively
1)Moreinelastic

2)Moreelastic

3)Lesselastic

4)Inelastic

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Id:45001

Explanation:

Q248)Thepresidentof13thfinancecommissionis

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Id:44882

1)Vijaybhatkar

2)Vijaykelkar

3)PChidambaram

4)Manmohansingh

Explanation:

Q249)Theincomesreceivedbyentrepreneurs,bylabor,andbytheownersoflandandof

capitalresourcesare,respectively:

1)rents,wages,interestandprofits.

2)wages,rents,profitsandinterest.

3)profits,wages,rents,andinterest

4)interest,rents,wages,andprofits.

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Id:45074

Explanation:

Q250)Managerialeconomicsconsistsoftheuseofeconomicmodesofthoughttoanalyze

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Id:44868

businesssituationstatedby
1)Mansfield

2)Spencer

3)McNairandMerriam

4)Adamsmith

Explanation:

Q251)WhichiscorrectstatementaboutGNP?

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Id:45081

1)Wages+dividend

2)Capital+Assetsdepreciation

3)GNPatmarketprice=GDP+costofcapital

4)GNPatfactorcost=GNPatmarketprice

Explanation:

indirecttaxes+subsidies

Q252)Inthecircularowdiagram,
1)Firmsaresellersintheresourcemarketand

theproductmarket.

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Id:45152
2)Householdsaresellersintheresourcemarket
3)Firmsarebuyersintheproductmarket.

4)Spendingongoodsandservicesowfrom

rmstohouseholds.

Explanation:

Q253)Whichofthefollowingstatementisincorrect?
1)Inflation:Anincreaseintheoveralllevelof

pricesintheeconomy

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Id:45103

2)Productivity:Theamountofgoodsand

servicesproducedfromeachhourofa
workerstime

3)Phillipscurve:Acurvethatshowtheshortrun

tradeoffbetweeninflationandunemployment

4)BalanceofPayment:whichpaymentis

balancedinEXIMpolicy

Explanation:

Q254)Monopolistchargehighpriceinthemarketinwhichelasticityis
1)Small

2)Large

3)Infinite

4)Positive

Explanation:

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Id:45008

Q255)Principledealswiththeallocationofavailableresourcesamongthe

alternativeactivities.

1)Equimarginalprinciple

2)Discountingprinciple

3)Timeperspectiveprinciple

4)Incrementalprinciple

Marks:1.0
Id:44871

Explanation:

Q256)Whenincomeofaconsumerrises,thedemandforinferiorgoods.
1)Rises.

2)Falls.

3)Doesnotchange.

4)Eitherrisesorfalls

Explanation:

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Id:45166

Q257)Whichofthefollowingcombinationiscorrect?

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Id:44878

1)IMFInternationalmonetaryfundestablished

2)WTOWorldtradeorganizationestablishedin

3)IBRDInternationalbankofreconstructionand

4)Allofthese

in1946

developmentalsoknownasworldbank

1995

Explanation:

Q258)Amarketinwhichfirmscanenterandleavesoeasilythatfirmsinthemarketface

competitionfrompotentialentrantsiscalleda

1)Monopoly

2)Cartel

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Id:38764

3)Contestablemarket

4)Limitpricingmarket

Explanation:

Q259)Whichofthefollowingisnotthecharacteristicofapricetaker?
1)TR=P*Q

2)AR=PRICE

3)MR=AR=PRICE=DEMAND

4)Negativelyslopeddemandcurve

Explanation:

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Id:44969

Q260)Thefactorofproductionthatorganizeseconomicactivityandbearstheriskina

businessventureis:

1)Labor.

2)Entrepreneur

3)Capital.

4)Land

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Id:45073

Explanation:

Q261)Thereare.typesofpriceelasticity.

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Id:44904

1)Five

2)Four

3)Four

4)One

Explanation:

Q262)Whoadvocatedeconomicsisascienceofchoice?
1)Pigou

2)Fisher

3)Robbins

4)Say

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Id:38737

Explanation:

Q263)Thekinkeddemandmodelexplained

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Id:44989

1)Priceflexibility

2)Pricerigidity

3)Demandflexibility

4)Demandrigidity

Explanation:

Q264)AssumethatwhenpriceisRs.20thequantitydemandedis15units,andwhenprice

isincreasebyRs.3,thequantitydemandedis16units.Whatisthemarginal
revenue?

1)18

2)16

3)12

4)252

Explanation:

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Id:44958

Q265)Whichofthefollowingmethodofforecastingisrelatedtoeconomicindicator?
1)Barometricmethod

2)Regression

3)Trendprojectionmethod

4)Buyersintentionmethod

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Id:44944

Explanation:

Q266)Complementarygoodsliketeaandsugarhavea________crosselasticity:
1)Zero

2)Negative

3)Positive

4)Infinity

Explanation:

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Id:45185

Q267)Asariseinthepriceofinkpen,itseffectoninkexplainedasa
1)Increaseinthepriceofink

2)Increaseinthedemandofink

3)Expansioninthequantitydemandedofink

4)Decreaseinthedemandofink

Marks:1.0
Id:44932

Explanation:

Q268)Ifthepriceoforangejuiceincreases,thedemandforapplejuicewill
1)Increase

2)Decrease

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Id:44901

3)Remainsthesame

4)Becomesnegative

Explanation:

Q269)Salesmaximizationmeans

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Id:44848

1)Maximizationoftotalrevenue

2)Saleoflargequantityofoutput

3)Increasethesellingprice

4)Minimizethecost

Explanation:

Q270)Economicsisconcernedwithtradeoffscausedbyscarcity."Tradeoffs"refersto:

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Id:45022

1)recyclingoldgoodsintonewgoodstoreduce

2)thealternativesgivenupwhenmaking

3)thebuyingandsellingthatoccurswhen

4)thedecisionsaboutwhetherhouseholdsor

thescarcityproblem.

unwantedgoodsareexchangedforgoodsthat
aredesired.

choices.

businessesshouldbeartheentireburdenof
thescarcityproblem.

Explanation:

Q271)Iftheproportionatechangeindemandisexactlyequalandproportionatetothe

changeinpricethanelasticityofdemandis

1)Equaltozero.

2)Greaterthanone.

3)Lessthanone.

4)Equaltoone.

Explanation:

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Id:38779

Q272)GNP:
1)Isthetotalofcash,capital,productionand

gold

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Id:45080
2)Isthetotalcapital
3)Isthetotalofgold

4)Isthetotalmeasureoftheflowofgoodsand

servicesatmarketvalue+incomefromabroad

Explanation:

Q273)Whoisthemotherofeconomics?

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Id:38733

1)Resources

2)WifeofSmith

3)Scarcity

4)Money

Explanation:

Q274)EBTorNetProfitBeforeTaxequals

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Id:45091

1)Salesrevenue+costofgoodssold+all

2)Salesrevenue+costofgoodssoldall

3)Salesrevenuecostofgoodssold+all

4)Salesrevenuecostofgoodssold+all

expensesexceptfortaxes

expensesincludestaxes

Explanation:

expensesexceptfortaxes

expensesexceptfortaxes

Q275)Aneconomyissaidtobeecientif

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Id:45153

1)Itispossibletoproducemoreofallgoods.

2)Itispossibletoproducemoreofonegood

3)Itisnotpossibletoproducemoreofonegood

4)Itisnotpossibletoproducemoreofonegood

withoutproducinglessofanother.

withoutproducinglessofanother.

atanycost

Explanation:

Q276)PetrolandBikesare:

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Id:45207

1)Independentcommodities

2)Complementarygoods

3)Substitutegoods

4)Identicalgoods

Explanation:

Q277)Whichofthefollowingsectorisnotincludeinthecircularflowofincomeinathree

sectoreconomy.

1)Household

2)Firms

3)Government

4)Foreignmarket

Marks:1.0
Id:44867

Explanation:

Q278)Generallythedemandcurvehas

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Id:45273

1)Aslopedownwardsfromlefttoright

2)Aconstantslope

3)Aslopeupwardsfromrighttoleft

4)Apositiveslope

Explanation:

Q279)istheexampleofmixedeconomy

Marks:1.0
Id:45289

1)India

2)USA

3)UK

4)ErstwhileUSSR

Explanation:

Q280)Thevalueofpriceelasticityofdemandrangesfrom
1)Zerotoone

2)Onetoinfinity

3)Zerotoinfinity

4)Onetozero

Marks:1.0
Id:44929

Explanation:

Q281)Managerialeconomicsadoptsthescientificapproachofeconomicanalysis,but

whichisnotinvolvedwiththefollowing?

1)Reasoningforeconomiceventsandbehaviour

ofbusiness

Explanation:

2)Policiesofmacroeconomy

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Id:45105

Q282)Whichofthefollowingismicroaspect?

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Id:44832

1)Inflationintheeconomy

2)LockoutinTELCO

3)Unemployment

4)Depreciatethehomecurrency

Explanation:

Q283)Anincreaseinthedemandforagoodwilltendtocause:
1)adecreaseintheequilibriumpriceand

2)anincreaseintheequilibriumpriceand

3)anincreaseintheequilibriumpriceanda

4)adecreaseintheequilibriumpriceandan

quantity

decreaseintheequilibriumquantity

quantity

increaseintheequilibriumquantity

Marks:1.0
Id:45198

Explanation:

Q284)Economicsisthestudyof

Marks:1.0
Id:45135

1)Productiontechnology

2)Consumptiondecisions

3)Howsocietydecideswhat,howandforwhom

4)Thebestwaytorunsociety

toproduce

Explanation:

Q285)Amonopolisticallycompetitivefirmthatisincurringalosswillproduceaslongas

thepricethatthefirmchargesissufficienttocover:

1)advertisingcosts

2)marginalcosts

3)fixedcosts.

4)variablecosts

Marks:1.0
Id:45259

Explanation:

Q286)Whenweknowthequantityofaproductthatbuyerswishtopurchaseateach

possibleprice,weknow

1)Demand

2)Supply

3)Excessdemand

4)Excesssupply

Explanation:

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Id:45133

Q287)Thegovernmentunitthatwantstoachieve"revenueenhancement"willfindit

considerablymorefavorabletoenactanexcisetaxonproductswhosedemandis

1)Highlyelastic.

2)Relativelyelastic.

3)Highlyinelastic.

4)Unitaryelastic

Marks:1.0
Id:38782

Explanation:

Q288)Whenthepriceofpetrolgoesup,demandforautomobilesdecreases.Itisimplies

thatthepetrol&automobilesare.........................

1)Substitutegoods

2)complementarygoods

3)Inferiorgoods

4)Normalgoods

Explanation:

Marks:1.0
Id:45258

Q289)Inperfectcompetition,thepriceoftheproductisdeterminedwheretheindustry
1)Elasticityofsupplyequalstheindustry

2)Supplycurveandindustrydemandcurve

3)Fixedcostiszero.

4)Averagevariablecostequalstheindustry

elasticityofdemand

Marks:1.0
Id:45204

intersect.

averagetotalcost

Explanation:

Q290)Pricediscriminationispossible

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Id:44983

1)Onlyundermonopolysituation

2)Underanymarketform

3)Onlyundermonopolisticcompetition

4)Onlyunderperfectcompetition

Explanation:

Q291)Theregulatorymechanismofthemarketsystemis
1)Selfinterest

2)Privateproperty

3)Competition

4)Specialization

Explanation:

Marks:1.0
Id:45062

Q292)AssumethatconsumersincomesandthenumberofsellerinthemarketforgoodA

bothdecrease.Baseduponthisinformation,wecanconclude,withcertainty,thatthe
equilibrium

1)Pricewillincrease

2)Pricewilldecrease

3)Quantitywillincrease

4)Quantitywilldecrease

Marks:1.0
Id:44955

Explanation:

Q293)Whichofthefollowingemphasizedonnormativeaspectofscience
1)Marshall

2)Pigou

3)Adamsmith

4)Bothaandb

Explanation:

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Id:44825

Q294)Whichisthecorrectstatement?

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Id:45098

1)Accountingprofitdiffersfromeconomicprofit

2)Nodifferencebetweenaccountingcostand

3)Accountingcostisequaltoopportunitycost

4)OpportunitycostissameasEconomicProfit.

economiccost.

Explanation:

Q295)Thesaleoffastrackwatchisacommoninasituationof
1)Perfectcompetition

2)Monopolisticcompetition

Marks:1.0
Id:44991

3)Monopoly

4)Duopoly

Explanation:

Q296)Whichofthefollowingconditionisnotanessentialconditionofpurecompetition?
1)Largeno.ofbuyersandsellers

2)Homogeneousproduct

3)Freedomofentry

4)Absenceoftransportcost

Explanation:

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Id:44965

Q297)Economicsisthestudyofadministrationofscareresourcesandofthe

determinantsofincomeandemployments.Thisdefinitionofeconomicsisgiven
by:

1)Robbinson

2)Keynes

3)Marshall

4)AdamSmith

Marks:1.0
Id:45115

Explanation:

Q298)Whenthepriceofaproductisincreased10percent,thequantitydemanded

decreases15percent.Inthisrangeofprices,demandforthisproductis:

1)Elastic.

2)Inelastic.

3)Crosselastic.

4)Unitaryelastic.

Explanation:

Marks:1.0
Id:45265

Q299)Whatisincomeelasticityofdemand,whenincomechangesby20%anddemand

changesby40%

1)

2)2

3)3

4)0.33

Marks:1.0
Id:44937

Explanation:

Q300)RetainedEarningsequals

Marks:1.0
Id:45093

1)EarningsAfterTax(orNetProfitAfterTax)

2)EarningsAfterTax(orNetProfitAfterTax)+

3)EarningsAfterTax+payabledividends

4)NetProfitAfterTax+payabledividends

payabledividends

payabledividends

Explanation:

Q301)Testmarketingresultmaynotbecorrect,because

Marks:1.0
Id:44939

1)Priceelasticityofproductishigh

2)Eventsduringtheperiodnotundercontrol

3)Sampledoesnotrepresentthepopulation

4)Duemisguidebypanelofexperts

whereproductisintroduced

Explanation:

Q302)Tripleidentityinmacroeconomicsstandsfor

Marks:1.0
Id:38758

1)O=I=E

2)A=B=C

3)X=Y=Z

4)M=N=P

Explanation:

Q303)Thedemandcurvefacedbyacompetitivefirmis:
1)Downwardsloping,withthesameelasticityas

2)Perfectlyelasticattheestablishedmarket

3)Moreinelasticthanthedemandcurvefacedby

4)Nonexistent.

theindustrydemandcurve.

itscompetitors.

Explanation:

price

Marks:1.0
Id:45234

Q304)Afirmoperatingunderconditionsofperfectcompetitionscan

Marks:1.0
Id:45270

1)Determinethepriceofitsproduct.

2)Capturethemarketbycuttingdowntheprice.

3)Determineonlythesizeofitsoutput.

4)Promotethesalesthrougheffective

advertisement.

Explanation:

Q305)Groupbehaviorandinterdependenceisthecharacteristicof
1)Monopoly

2)Perfectcompetition

3)Monopolisticcompetition

4)Oligopoly

Marks:1.0
Id:45010

Explanation:

Q306)Historicaldataisusedinestimatingfuturedemandunder
1)Surveymethod.

2)Expertopinionmethod.

3)Statisticalmethod.

4)CompleteEnumerationmethod.

Marks:1.0
Id:38775

Explanation:

Q307)Whichprofitthefirmtriestomaximize?

Marks:1.0

Id:38757
1)Economicprofit

2)Accountprofit

3)Opportunityprofit

4)Averageprofit

Explanation:

Q308)Whenthefullemploymentisreacheditwillleadto:
1)Deflation

2)Inflation

3)Marketwelfare

4)Noneofthem

Explanation:

Marks:1.0
Id:45127

Q309)TheABCLtd.producestelevision.Aneconomistworkingforthefirmpredictsthat'if

people'sincomesrisenextyear,thenthedemandforourtelevisionwillincrease.The
accuracyoftheeconomist'spredictiondependsonwhetherthetelevisionABCLtd.
produce:

1)arenormalgoods

2)havefewcomplementarygoods

3)havefewsubstitutes

4)havemanycomplementarygoods

Marks:1.0
Id:45191

Explanation:

Q310)Thedemandcurveofmonopolyfirmwillbe

Marks:1.0
Id:44974

1)Upwardsloping

2)Downwardsloping

3)Horizontal

4)Vertical

Explanation:

Q311)Anexpectedincreaseinfuturepriceofagood
1)hasnoeffectoneitheritsdemandorits

supply.

2)decreasesitsdemand.
3)increasesitsdemand.

4)increasesitssupply.

Explanation:

Marks:1.0
Id:45200

Q312)Afirmandindustryaresameunder

Marks:1.0
Id:45216

1)Monopoly

2)Monopolisticcompetition

3)Perfectcompetition

4)Oligopoly

Explanation:

Q313)Economicprofit=totalrevenue

Marks:1.0
Id:44852

1)Economiccost

2)Implicitcost

3)Explicitcost

4)Accountingcost

Explanation:

Q314)Allofthefollowingaretheexceptionsofthelawofdemandexcept
1)Giffengoods

2)Futureexpectationaboutprices

3)Demandfornecessities

4)Demandforsubstitutegoods

Marks:1.0
Id:44895

Explanation:

Q315)Consumersarelikelytogetavarietyofgoodsunder
1)Perfectcompetition

2)Monopoly

Marks:1.0
Id:44994

3)Imperfectcompetition

4)Oligopoly

Explanation:

Q316)Whichofthefollowingisnottrueaboutperfectcompetition?
1)Thedemandcurveisalsothefirmsmarginal

revenuecurve.

2)Thedemandcurveslopesdownwards.
3)Freeentryandexit.

4)Perfectknowledgeamongbuyersandsellers

Explanation:

Marks:1.0
Id:45239

Q317)Whenexcessdemandoccursinanunregulatedmarket,thereisatendencyfor:
1)pricetofall.

2)pricetorise.

3)quantitydemandedtoincrease.

4)quantitysuppliedtodecrease.

Marks:1.0
Id:38746

Explanation:

Q318)MicroeconomicsisNOTconcernedwiththebehaviorof:
1)Consumers

2)Aggregatedemand

3)Firms

4)Industries

Explanation:

Marks:1.0
Id:45053

Q319)Ifdemandincreaseduetoincreaseintheincomeofconsumerandatthesametimes

supplyremainsthesame.equilibriumpriceandquantitydemandedwillbe

1)Increase,decrease

2)Decrease,decrease

3)Increase,increase

4)Decrease,increase

Marks:1.0
Id:44954

Explanation:

Q320)aneconomythatallocatesresourcesthroughthedecentralizeddecisionsofmany

firmsandhouseholdsastheyinteractinmarketsforgoodsandservicesiscalledas

1)MarketEconomy

2)BusinessEconomy

Marks:1.0
Id:45099

3)SocialEconomy

4)EconomiesofScale

Explanation:

Q321)Thekinkeddemandcurvemodelassumesthatafirm'srivalswill
1)Followthefirm'spricedecreasesbutnotits

priceincreases

2)Notfollowanyofthefirm'spricechanges.
3)Followanypricechangethefirmmakes.

4)Followthefirm'spriceincreasesbutnotits

pricedecreases.

Explanation:

Marks:1.0
Id:38765

Q322)Itisdefinedasthedifferencebetweentotalrevenueandtotaleconomiccost
1)Economicprofit

2)Grossprofit

3)Accountingprofit

4)Operatingprofit

Marks:1.0
Id:45146

Explanation:

Q323)Theconceptofchoicewouldbecomeirrelevantif
1)capitalwereeliminated.

2)weweredealingwithaverysimple,one

3)scarcitywereeliminated.

4)povertywereeliminated.

Explanation:

personeconomy

Marks:1.0
Id:38735

Q324)Intheshortrun,themonopolist

Marks:1.0
Id:44984

1)Incursaloss

2)Abnormalprofit

3)Makesaprofit

4)Anyoftheabove

Explanation:

Q325)Managerialeconomicsisconcernedwiththeproblemof
1)Anindividualfirm.

2)Aneconomy.

Marks:1.0
Id:45054

3)Anindustry.

4)Globaleconomy.

Explanation:

Q326)Managerialeconomicsisalsocalled

Marks:1.0
Id:38741

1)AppliedEconomics

2)BasicEconomics

3)MacroEconomics

4)Bothaandb

Explanation:

Q327)Asinglepointonthedemandcurveshows

Marks:1.0
Id:45272

1)Demandandsupplyrelationship

2)Priceanddemandrelationship

3)Priceandsupplyrelationship

4)Priceandcostrelationship

Explanation:

Q328)Whichrealworldmarketcloselyapproximatesperfectcompetition
1)mostagriculturalmarkets

2)automobilemanufacturers

3)stateuniversities

4)cabletelevisionservices

Explanation:

Marks:1.0
Id:45190

Q329)NABARDestablishedin

Marks:1.0
Id:44885

1)1982

2)1970

3)1999

4)1975

Explanation:

Q330)Demandcurveslopedownwardfrom..To...
1)Left,right

2)Right,left

3)Minimum,maximum

4)Maximum,minimum

Marks:1.0
Id:44894

Explanation:

Q331)Periodsoflessthanfullemploymentcorrespondto
1)PointsoutsidethePPF

2)PointsinsidethePPF

3)PointsonthePPF

4)Anyofthese

Marks:1.0
Id:44847

Explanation:

Q332)Thecollapseofcommunismisevidenceof

Marks:1.0
Id:45035

1)Ceterisparibus

2)Marketfailure

3)Thefailureofamixedeconomy

4)Governmentfailure

Explanation:

Q333)Ineconomicsbasicproblemis

Marks:1.0
Id:45048

1)Sacrcity

2)Production

3)Allocation

4)Money

Explanation:

Q334)IfthelocalrestaurantraisesthepriceofpizzafromRs.60andRs.100andquantity

demandedfallsfrom700pizzasto100pizzas.thepriceelasticityis

1)1.5

2)3

3)3

4)Noneofthese

Marks:1.0
Id:44912

Explanation:

Q335)Whichisoneofthefutureconsequencesofanincreaseinthecurrentlevelof

consumptionintheIndia?

1)Slowereconomicgrowthinfuture

2)Greatereconomicgrowthinfuture

3)Nochangeingrowthrate

4)Greatercapitalaccumulationinfuture

Explanation:

Marks:1.0
Id:44874

Q336)Thestudyofaggregatesofeconomyisdonethrough:
1)MicroEconomics

2)MacroEconomics

3)TheoryofPopulation

4)MicroandMacroboth

Marks:1.0
Id:45111

Explanation:

Q337)Monopolisticcompetitiondiffersfromperfectcompetitionprimarilybecause:
1)Barrierstoentryinmonopolisticcompetition

2)Productdifferentiationinmonopolistic

competition

Marks:1.0
Id:45244

3)Advertisementisnotnecessaryin

monopolistic

4)Firmisapricetakerinmonopolistic

competition

Explanation:

Q338)Constrainedoptimizationtechniquesarenotdesignedtodealwiththeproblemof:
1)Selfservingmanagement

2)Contractualrequirements

3)Scarceinvestmentfunds

4)Limitedavailabilityofessentialinputs

Explanation:

Marks:1.0
Id:45162

Q339)Goodsthatexhibitdirectpricedemandrelationshiparecalled
1)Normalgoods

2)Normalgoods

3)Luxurygoods

4)Complementarygoods

Marks:1.0
Id:44923

Explanation:

Q340)Whichofthefollowingpairsofgoodsisanexampleofsubstitutes?
1)Tea&Sugar

2)Tea&Coffee

3)Pen&Ink

4)Shirt&Trousers

Explanation:

Marks:1.0
Id:38784

Q341)Quantitydemandedandpricehasa:

Marks:1.0
Id:45205

1)Positiverelationship

2)Constantrelationship

3)Negativerelationship

4)Zerorelationship

Explanation:

Q342)Whichstatementisnottheobjectiveofthefirm?

Marks:1.0
Id:45106

1)FirmsvalueMaximizationtoitsshareholders.

2)FirmsSizeMaximization

3)FirmsProfitMaximization

4)FirmsPriceMaximization

Explanation:

Q343)Forwhattypeofgooddoesdemandfallwithariseinincomelevelsofhousehold?
1)Inferiorgoods

2)Substitutes

3)Luxurious

4)Necessities

Explanation:

Marks:1.0
Id:44931

Q344)WhatisMR?

Marks:1.0
Id:38800

1)MR=TRnTRn1.

2)MR=TR/TQ.

3)MR=TR/TC.

4)MR=TR/AC.

Explanation:

Q345)Whydofirmsengageinpricediscrimination?
1)Todifferentiatemarketsegments

2)Togainmonopolisticpower

3)Keepconsumersdemandlow

4)Tomakegreaterprofits

Explanation:

Marks:1.0
Id:45278

Q346)Businesseconomicsisalsoknownas_x000D__x000D_
1)ManagerialEconomics

2)Economicsforexecutives

3)Economicanalysisforbusinessdecisions

4)Alloftheabove

Marks:1.0
Id:45283

Explanation:

Q347)Utilityrefersto

Marks:1.0
Id:44854

1)Wantsatisfyingpowerofgoodsandservice

2)Ethicalconcept

3)Stockconcept

4)Utilization

Explanation:

Q348)GNPisequalto

Marks:1.0
Id:45078

1)GDP+Interest

2)Wages

3)GDP+Netfactorincomefromabroad

4)GDP+Netdepreciation

Explanation:

Q349)Equilibriumrefersto

Marks:1.0

Id:44856
1)Optimumsituation

2)Absenceofchangeinmovement

3)Demandisequaltosupply

4)Allofthese

Explanation:

Q350)Materialwelfaredefinitionofeconomicsstatedby
1)JBSay

2)Robbins

3)Marshall

4)Pigou

Explanation:

Marks:1.0
Id:44820

Q351)NationalincomewaskeptsomewherebetweenG.N.P.andN.N.P.by:
1)Pigou

2)Marshall

3)Keynes

4)AdamSmith

Marks:1.0
Id:45123

Explanation:

Q352)Incasethemarginalcostofproductioniszero,themonopolistwouldproduceatthe

pointwherepriceelasticity

1)Unity

2)Zero

3)Positive

4)Negative

Explanation:

Marks:1.0
Id:45256

Q353)Whichofthefollowingisnotincorrect?
1)Accountingprofitistheexcessofaccounting

incomeoveraccountingexpenses.

Marks:1.0
Id:38776
2)Accountingcostisalsoknownasexplicitcost.
3)Economicprofit=TotalRevenueEconomic

cost.

4)Allofthese

Explanation:

Q354)Afirmhasavariablecostofrs.1000at5unitsofoutput.IffixedcostisRs.400,what

Marks:1.0

willbetheaveragetotalcostat5unitsofoutput?
1)Rs.240

2)Rs.120

3)Rs.280

4)Rs.60

Id:44964

Explanation:

Q355)SocialisteconomistlikeKarlMarxconsiderprofitas
1)Unearnedsurplus

2)Exploitationoflabour

3)Bothaandb

4)Uncertaintybearing

Explanation:

Marks:1.0
Id:44851

Q356)Ineconomics,afirmissaidtobemaking_______whentotalrevenuesequaltotal

costs.

1)AnAccountingProfit

2)ANormalProfit

3)AnEconomicProfit

4)AnAbnormalprofit

Marks:1.0
Id:45096

Explanation:

Q357)Theprincipalreasonbehindeconomicproblemsis
1)Limitedwants

2)Limitedorscarcemeans

3)Unlimitedresources

4)Stableenvironment

Explanation:

Marks:1.0
Id:45056

Q358)Ifaconsumptionofaproductremainsunaffectedbythechangeinpriceofthe

product,demandfortheproductis:

1)Kinked

2)Perfectlyelastic

3)Perfectlyinelastic

4)Unitaryelastic

Marks:1.0
Id:45182

Explanation:

Q359)Whichamongthefollowingisnotaneconomicproblem?
1)Whattoproduce

2)Howtoproduce

Marks:1.0
Id:38743

3)Whytoproduce

4)Relationbetweenmotherandchild

Explanation:

Q360)Underwhichofthefollowingformsofmarketstructuredoesafirmhavenocontrol

overthepriceofitsproduct?

1)Monopoly

2)Perfectcompetition

3)Monopolisticcompetition

4)Oligopoly

Explanation:

Marks:1.0
Id:44972

Q361)Ifthedemandfortheproductisindependentofthedemandforothergoods,itis

calledis

1)Deriveddemand

2)Autonomousdemand

3)Industrydemand

4)Companydemand

Marks:1.0
Id:44922

Explanation:

Q362)ThewordeconomycomesfromtheGreekwordfor
1)Environment.

2)Onewhoparticipatesinamarket

3)Onewhomanagesahousehold

4)Conservation

Explanation:

Marks:1.0
Id:45141

Q363)Afirminlongrunequilibriumundermonopolisticcompetitionmakesonly
1)Normalprofits

2)Supernormalprofits

3)Loss

4)Alloftheabove

Marks:1.0
Id:44988

Explanation:

Q364)Inmonopoly,marginalrevenueis:

Marks:1.0
Id:45187

1)Alwaysequaltoprice

2)Lowerthanpriceforallunitsotherthanthe

3)Lessthanpriceatalllevelsofoutputand

4)Alwaysgreaterthanprice

greaterthanpriceathighlevelsofoutput

first

Explanation:

Q365)FullEmploymentassumptionisgenerallymadein:
1)MicroEconomics

2)MacroEconomics

3)Employmenttheory

4)Noneoftheabove

Marks:1.0
Id:45110

Explanation:

Q366)Ineconomicsthecentralproblemis:

Marks:1.0

Id:45036
1)Money

2)Scarcity

3)Allocation

4)Production

Explanation:

Q367)Accordingtolawofdemand,thereisrelationshipbetweenpriceand

quantitydemandedofthegoods.

1)Inverse

2)Direct

3)Legal

4)Negative

Explanation:

Marks:1.0
Id:44889

Q368)Microeconomicsisalsoknownas________:

Marks:1.0
Id:45019

1)Producttheory

2)Pricetheory

3)Processtheory

4)Projectiontheory

Explanation:

Q369)aneconomistsaysthatfirmpracticespricediscrimination,thatfirmis:

Marks:1.0
Id:45275

1)Exploitingthepoor

2)Chargingdifferentpricesforthesamegoodor

3)Makinggreateffortstokeepitscostsaslowas

4)Producingtwoproducts,onewithdecreasing

possible

service

returnstoscaleandtheotherwithincreasing
returns

Explanation:

Q370)Pricecontrolisoneofthemonopolyregulationswhichismostadvantageousfor
1)Theproducer

2)Theconsumer

3)Thegovernment

4)Theseller

Marks:1.0
Id:44985

Explanation:

Q371)Perfectcompetitivemarketfirmachievesequilibriumwhen

Marks:1.0
Id:38793

1)Demand=Supply

2)AR=MR

3)MR=MC

4)AR=MC

Explanation:

Q372)Supplyrefersto

Marks:1.0
Id:44945

1)Whatfirmssell

2)Whatfirmsofferforsale

3)Stockmaintainedbyseller

4)Sellingofagoodsataprofit

Explanation:

Q373).equalsrevenueminusallexplicitcosts.
1)Accountingprofit

2)Economicprofit

3)Normalprofit

4)Loss

Marks:1.0
Id:45061

Explanation:

Q374)46.EconomicProfit=TotalRevenue(___________________________________)
1)ExplicitCost

2)ImplicitCost

3)ExplicitCost+ImplicitCost

4)ExplicitCostImplicitCost

Explanation:

Marks:1.0
Id:38749

Q375)_______economicsdealswiththedeterminationofnationalincomeandoutput:
1)Micro

2)Price

3)Macro

4)Individual

Marks:1.0
Id:45042

Explanation:

Q376)Whohaswrittenitisnotfromthebenevolenceofthebutcher,thebrewerorthe

bakerthatweexpectourdinner,butfromtheirregardtotheirownselfinterest?

1)AdamSmith

2)Marshall

3)Malthus

4)MiltonFriedman

Marks:1.0
Id:38760

Explanation:

Q377)Grossprofitequals

Marks:1.0
Id:45088

1)COGS

2)SalesRevenueminuscostofgoodssold

3)SalesRevenueonly

4)SalesRevenueplusProfit

Explanation:

Q378)WhenthepriceofcommodityXrises,thequantitydemandedofitssubstitutegoodY

Marks:1.0

keepingthepriceofYconstant.

Id:45167

1)Rises.

2)Falls

3)Doesnotchange

4)Eitherrisesorfalls

Explanation:

Q379)Theconditionofequilibriuminafirmis

Marks:1.0
Id:45269

1)MR=MC

2)MR=AC

3)MR=AR

4)MC=AC

Explanation:

Q380)Therewouldbenoneedtostudyeconomicsif:

Marks:1.0
Id:45021

1)therewerenogovernmentcontrolson

2)peoplewerefreetodowhatevertheywanted

3)therewereenoughresourcestoproduceall

4)Governmentcontrolstheeconomy.

people'sactions.

thegoodsandservicespeoplewouldliketo
obtain.

withtheirlives.

Explanation:

Q381)Thepriceelasticityofdemandmeasures:

Marks:1.0
Id:45274

1)theslopeofabudgetcurve.

2)theresponsivenessofthequantitydemanded

3)howoftenthepriceofagoodchanges.

4)howsensitivethequantitydemandedisto

tochangesinprice.

changesindemand.
Explanation:

Q382)ThePerfectlyCompetitivefirmsdemandcurvecoincideswith:
1)itsaveragerevenuecurveandtotalrevenue

curve.

Marks:1.0
Id:45179

2)bothitsmarginalandaveragerevenuecurve.
3)itsaveragerevenuecurveandtotalrevenue

curve.

4)bothitsmarginalandtotalrevenuecurve

Explanation:

Q383)Productdifferentiationisthefeatureof

Marks:1.0
Id:38797

1)Perfectcompetition

2)Monopoly

3)Monopolisticcompetition

4)Oligopoly

Explanation:

Q384)Thebasicreasonwestudyeconomicsisbecausematerialwantsandneedsare:
1)Limitedandsoareresources.

2)Unlimitedbutresourcesarenot.

3)Limitedbutresourcesarenot.

4)Unlimitedandsoareresources.

Explanation:

Marks:1.0
Id:45044

Q385)Whichisthefirstorderconditionfortheprofitofafirmtobemaximum?
1)AC=MR

2)MC=MR

3)MR=AR

4)AC=AR

Marks:1.0
Id:44970

Explanation:

Q386)AdamSmithinvisiblehandsstandsfor
1)Twooppositemarketforcesofdemandand

supply

Marks:1.0
Id:38753
2)Onlydemand

3)Onlysupply
4)ProductionandDistribution

Explanation:

Q387)WhichOfTheFollowingIs/AreFalse?

Marks:1.0
Id:45129

1)WithGoodMonsoonsPeoplesPurchasing

2)ALowRateofInterestIsMustforEconomic

3)RateOfSavingIsImportantForGrowth.

4)AandB

PowerDecreases

Explanation:

Development

Q388)Whichofthefollowingisthereasonofleftwardshipofdemandcurve?

Marks:1.0
Id:44898

1)Riseinthepriceofsubstitute

2)Changeintasteinfavourofthiscommodity

3)Riseinpriceofcomplementary

4)Riseintheincomeoftheconsumer

Explanation:

Q389)Demandforelectricitypoweriselasticbecause
1)Duetoitshighpriceperunit

2)Itisessentialforlife

3)Ithasmanyuses

4)Ithasmanysubstitutes

Explanation:

Marks:1.0
Id:44940

Q390)Marginalutilityanalysisassumesthatthemarginalutilityofmoney:
1)RemainsConstant

2)Variesaccordingtoconsumerbehaviour

3)Variesaccordingtopricefluctuations

4)DependontheInflation

Marks:1.0
Id:45113

Explanation:

Q391)Macroeconomicsisthestudyof____________________
1)Individualbuildingblocksintheeconomy

Marks:1.0
Id:45132

2)Therelationshipbetweendifferentsectorsof

theeconomy

3)Householdpurchasedecisions

4)Theeconomyasawhole

Explanation:

Q392)Itemsofjointconsumptionwillhave______crosselasticity
1)Positive

2)Negative

3)Zero

4)None

Explanation:

Marks:1.0
Id:45250

Q393)Elasticityofdemandisdefinedastheresponsivenessofthequantitydemandedofa

goodto

1)Changeinthepriceofthegoods

2)Changeintheincome

3)Changeinoneofthevariableonwhich

4)Changeinthepopulation

demanddepends

Marks:1.0
Id:44902

Explanation:

Q394)costisalsoknownasimputedcost.

Marks:1.0
Id:45290

1)Opportunity

2)Marginal

3)Total

4)Historical

Explanation:

Q395)Lawofdemanddependsupon

Marks:1.0
Id:45267

1)Inverserelationshipbetweenprice&quantity

2)Positiverelationshipbetweenprice&quantity.

3)Both

4)None

Explanation:

Q396)Whichofthefollowinginvolvesthestudyoftheoveralleconomyofacountry?
1)Nanoeconomics

2)Macroeconomics

3)Microeconomics

4)Neoeconomics

Marks:1.0
Id:45043

Explanation:

Q397)AccordingtoAdamSmithstheoryoftheinvisiblehand,businesseswillproduce

theproductsconsumersmostdesirebecause

1)thiswillmaximizeconsumersatisfaction.

2)thegovernmentrequiresthemtodoso.

3)thiswillmaximizebusinessprofits.

4)thiswillmaximizesocietyswelfare.

Marks:1.0
Id:45025

Explanation:

Q398)Deductive,Analytical,Abstractmethodisusedby:

Marks:1.0
Id:45118

1)ClassicalSchool

2)NeoClassicalSchool

3)ModernSchool

4)AncientSchool

Explanation:

Q399)Itiscalledas.if_x000D_

Itexplainstheworkingoftheeconomicsystemasawhole_x000D_
Itsknowledgeisindispensableforthepolicymakers_x000D_
Itisveryusefultotheplannerforpreparingeconomicplans_x000D_
Itishelpfulininternationalcomparison_x000D__x000D_
1)Microeconomics

2)Macroeconomics

3)Indianeconomics

4)Internationaleconomics

Explanation:

Marks:1.0
Id:45102

Q400)IfthepriceofPepsirise,demandofcococola

Marks:1.0
Id:44942

1)Increase

2)Decrease

3)Rise

4)Fall

Explanation:

Q401)Whichofthefollowingisthemostaccuratestatementabouteconomicmodels?
1)Economicmodelsattempttomirrorreality

exactly.

Marks:1.0
Id:45143

2)Economicmodelsareuseful,butshouldnot

beusedforpolicymaking.

3)Economicmodelscannotbeusedinthereal

worldbecausetheyomitdetails.

4)Economicmodelsomitmanydetailstoallow

ustoseewhatistrulyimportant.

Explanation:

Q402)Productdifferentiationisacommonfeaturein.
1)Perfectcompetition.

2)Monopolisticcompetition.

3)Oligopoly.

4)Monopoly.

Explanation:

Marks:1.0
Id:45264

Q403)Microeconomicsisthe

Marks:1.0
Id:45058

1)Studyofthegeneraloutput

2)Studyofgeneralemployment

3)Studyofemploymentinaparticularfirm

4)Studyofnationalincome

Explanation:

Q404)Productionpossibilitycurveis

Marks:1.0
Id:44875

1)Concavetotheorigin

2)Convextotheorigin

3)Straightlinewhenopportunitycostisconstant

4)Bothaandc

Explanation:

Q405)Ifaproducthasmoresubstitutes,demandishighly.
1)Elastic.

2)Inelastic.

3)Relativelymoreelastic.

4)Relativelylesselastic.

Marks:1.0
Id:45222

Explanation:

Q406)Fromsociety'spointofviewtheeconomicfunctionofprofitsandlossesisto:
1)Promotetheequaldistributionofrealassets

2)Reallocateresourcesfromlessdesiredto

3)Achievefullemploymentandpricelevel

4)Contributetoamoreequaldistributionof

andwealth

stability

moredesireduses

income

Marks:1.0
Id:45147

Explanation:

Q407)Withafallinanagriculturalcropduetobadmonsoons,thesupplyelasticityof

agriculturalgoodswill.

1)Fall.

2)Rise.

3)Change.

4)Notchange.

Marks:1.0
Id:45223

Explanation:

Q408)Accountingprofit=totalrevenue

Marks:1.0

Id:44853
1)Economiccost

2)Implicitcost

3)Explicitcost

4)Marginalcost

Explanation:

Q409)Supplycurveslope

Marks:1.0
Id:44947

1)Downwardfromlefttoright

2)Upwardfromlefttoright

3)Downwardfromrighttoleft

4)Upwardfromrighttoleft

Explanation:

Q410)ManagerialeconomicisaFundamentalacademicsubjectwhichseeksto

understandandtoanalysetheproblemsofbusinessdecisiontakingthedefinition
isgivenby

1)SavageandSmall

2)Adamsmith

3)D.C.Hayue

4)RichardMeriam

Marks:1.0
Id:45085

Explanation:

Q411)Whichofthefollowingisanexampleofaresourceconstraint?
1)Pollutioncontrollaws

2)Inadequatedemand

3)Excessiveproductioncosts

4)Inadequatefinancialcapital

Explanation:

Marks:1.0
Id:45158

Q412)Whichofthefollowingisnotcorrect?

Marks:1.0
Id:44943

1)Ifproportionofincomespentongoods

2)Ifproportionofincomespentongoods

3)Ifproportionincomespentonagoodincrease

4)Ifproportionincomespentonagoodincrease

remainssameasanincomeisincrease,then
incomeelasticityisone

asanincomeincrease,thenincomeelasticity
islessthanone

Explanation:

remainssameasanincomeisdecrease,then
incomeelasticityisone

asanincomeincrease,thenincomeelasticity
isgreaterthanone

Q413)WhichisNOTthefunctionofManagerialEconomist?

Marks:1.0
Id:45104

1)Controllingthemacroeconomyonly

2)Involvedwithmacroandmicroeconomyboth

3)Demandestimationandforecasting

4)Directingeconomicresearchactivity

Explanation:

Q414)Producers'totalrevenuewilldecreaseif:

Marks:1.0
Id:45199

1)thepricerisesanddemandisinelastic.

2)incomeincreasesandthegoodisanormal

3)thepricerisesanddemandiselastic.

4)incomefallsandthegoodisaninferiorgood.

Explanation:

good.

Q415)TheswitchtotheuseofHFCSfromsugarinsoftdrinkswaspromptedinlargepart

byitsrelativelylowerprice.Assumingacompetitivemarket,whateffectwouldthis
changehaveontheequilibriumpriceandoutputforsoftdrinks?

1)pricerises,outputfalls

2)pricefalls,outputrises

3)pricerises,outputrises

4)pricefalls,outputfalls

Marks:1.0
Id:38803

Explanation:

Q416)AdamSmithstheoryoftheinvisiblehandassumesthat
1)businesseswillvoluntaryreducenegative

externalitiesgeneratedbytheproductionof
theirproducts

Marks:1.0
Id:45028

2)consumersareconcernedaboutmaximizing

thewelfareoftheirfellowconsumers.

3)selfinterestedproducersselltheirproductsto

selfinterestedconsumers.
4)governmentresearchisnecessarytoinform

businesseswhatconsumersmostwant.

Explanation:

Q417)TheLatinphraseCeteriusParibusmeans:

Marks:1.0
Id:45018

1)Everythingelsechangesimultaneously

2)Everythingelsebeingequal

3)Fewfactorschangeatsamefrequency

4)Allfactorschangeatsamefrequency

Explanation:

Q418)Thepriceelasticityofdemandisanegativenumberthismeans:

Marks:1.0
Id:45230

1)Demandispriceelastic

2)Demandispriceinelastic

3)Thedemandcurveisdownwardsloping

4)Anincreaseinincomewillreducethequantity

demanded

Explanation:

Q419)Ifdemandispriceinelastic:

Marks:1.0
Id:45231

1)Anincreaseinpricemustraiseprofits

2)Anincreaseinpricedecreasesrevenue

3)Anincreaseinpriceincreasesrevenue

4)Adecreaseinpricereducessales

Explanation:

Q420)Tomaximizevalue,managementmust:

Marks:1.0
Id:45160

1)Maximizeshortrunrevenue

2)Minimizeshortrunaverageprofit

3)Maximizelongrunprofit

4)Maximizeshortrunprofit

Explanation:

Q421)Aselfinterestcanbewellunderstoodas
1)Actinginthewaythatismostpersonally

beneficial

Marks:1.0
Id:38755
2)Actinginthewaythatismostbeneficialtothe

society

3)Actinginthewaythatismostbeneficialtothe

family

4)Actinginthewaythatismostbeneficialtothe

firm

Explanation:

Q422)Ifthepriceofcoffeefallthedemandforteawill..
1)Rise

2)Fall

3)decrease

4)constant

Explanation:

Marks:1.0
Id:44892

Q423)TheLawofDemandstatesthatwhenthepriceofacommodityfallsthequantity

demandedkeepingallotherfactorsconstant._x000D_

1)Rises._x000D_

2)Falls

3)Isconstant._x000D_

4)Willremainconstant._x000D_

Marks:1.0
Id:45220

Explanation:

Q424)Multiplantmonopolistisanillustrationof

Marks:1.0
Id:45189

1)Pricediscriminationoffirstdegree

2)Pricediscriminationofseconddegree

3)Pricediscriminationofthirddegree

4)Naturalmonopoly

Explanation:

Q425)Whichofthefollowingisshutdownpoint

Marks:1.0
Id:45004

1)AR>AC

2)AR>AVC

3)AR<AVC

4)AR>FC

Explanation:

Q426)CeterisParibusistheLatinexpressionfor
1)Astatementaboutthewaytheeconomicworld

oughttobe

Marks:1.0
Id:45034
2)Anexpressionthatmeans"otherthingsbeing

equal."

3)The(false)statementthatwhatistrueofthe

partsistrueofthewholeorwhatistrueofthe
wholeistrueoftheparts.

4)Theerrorofreasoningthatafirsteventcauses

asecondeventbecausethefirstevent
occurredbeforethesecondevent.

Explanation:

Q427)Tocuretheproblemofexternalities,suchaspollution,economistsrecommendthat

government

Marks:1.0
Id:45029

1)regulatepolluters

2)pursuesapolicyoflaissezfaire,"handsoff"

3)determinemandatorylimitscontrollingthe

4)usethemarketmechanismtocontrol

amountofpollutionwhichbusinessesmay
generate.

Explanation:

businesses.

undesirableexternalities.

Q428)Demandofcommodityrefersto

Marks:1.0
Id:44886

1)Desireforthecommodity

2)Needforthecommodity

3)Quantitydemandedforthatcommodity

4)Quantityofthecommoditydemandedata

certainpriceduringanyparticularperiodof
time.

Explanation:

Q429)Incaseofincreaseindemand,thedemandcurve
1)Shiftsbackwards.

2)Shiftsforward.

3)Willhaveupwardslope.

4)Willbehorizontal.

Marks:1.0
Id:38773

Explanation:

Q430)Accordingtoprofitmaximizationtheoryofthefirm,managementdecides
1)Outputlevelwhichmaximizesrevenue

2)Outputlevelwhichminimizescost

3)Outputlevelwhichmaximizesdifference

4)Outputlevelwhichminimizesrevenue

betweenthetwo

Marks:1.0
Id:45064

Explanation:

Q431)Thetheoryofmonopolisticcompetitionisdevelopedby

Marks:1.0

Id:44986
1)EHChamberlin

2)Robinson

3)Adamsmith

4)Marshall

Explanation:

Q432)Themoderntheoryofthefirmholdsthatfirmsbehaveinawaythatisdesignedto

maximize

1)Profit

2)Thevalueofthefirm

3)Monopolypower

4)Totalrevenue

Explanation:

Marks:1.0
Id:45154

Q433)TheClassicaltheoryofinternationaltradeispropoundedby:
1)Adamsmith

2)Robbinson

3)Pigou

4)Marx

Marks:1.0
Id:45128

Explanation:

Q434)Changeindemandrepresents

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Id:44899

1)Shiftofdemandcurvetoleftorright

2)Shiftofdemandcurvetoleft

3)Shiftofdemandcurvetoright

4)Expansionandcontraction

Explanation:

Q435)Inaperfectlycompetitivemarket______________.

Marks:1.0
Id:45263

1)Therearelargenumberofbuyersandasmall

2)Therearealargenumberofsellersandsmall

3)Thereareasmallnumberofsellersand

4)Therearealargenumberofbuyersand

numberofsellers.

buyers.

numberofbuyers.

sellers.

Explanation:

Q436)Whenthedecreaseinthepriceofonegoodcausesthedemandforanothergoodto

decrease,thegoodsare:

1)normal.

2)inferior

Marks:1.0
Id:45254

3)Substitute

4)Complimentary

Explanation:

Q437)Iftherearemanyfirmsinanindustryproducinggoodsthataresimilarbutslightly

different,thisisanexampleof:

1)Perfectcompetition.

2)Monopolisticcompetition.

3)Oligopoly

4)Monopoly

Explanation:

Marks:1.0
Id:45233

Q438)Thetendencyformanagerstooperateafirminawaythatmaximizestheirpersonal

utilityratherthanthefirmsprofitsisreferredtoasthe

1)Consumerutilityincentive

2)Principalagentproblem

3)Hiddenagendascenario

4)ModiglianiHypothesis

Marks:1.0
Id:45155

Explanation:

Q439)Withafallinagriculturalsubsidy,thepriceofagriculturalgoodswillandthe

quantitysuppliedwillalsokeepingallothervariablesconstant.

1)Increase

2)Decrease.

3)Willnotincrease.

4)Willnotdecrease.

Explanation:

Marks:1.0
Id:45224

Q440)IfAveragerevenue=Rs.10andAveragecost=Rs.7,then
1)FirmgetNormalProfit

2)FirmgetabnormalProfit

3)FirmfaceLoss

4)Breakevenpoint

Marks:1.0
Id:38770

Explanation:

Q441)Thetotaldemandforgoodsandservicesinaneconomyisknownas:
1)aggregatedemand

2)grossnationalproduct

3)economywidedemand.

4)nationaldemand

Marks:1.0
Id:45248

Explanation:

Q442)Salesrevenueafterdeductingallexpenses,includingtaxes
1)EarningsAfterTax

2)NetProfitbeforeTax

3)EarningsbeforeTax

4)GrossProfitAfterTax

Marks:1.0
Id:45092

Explanation:

Q443)Negativecrosselasticitybetweenanytwocommoditiesimpliesthattheyare:

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Id:45253

1)Complements

2)Substitutes

3)Inferiorgoods

4)Luxuries

Explanation:

Q444)Ifelectricitydemandisinelastic,andelectricitychargeincrease,whichofthe

followingislikelytooccur?

Marks:1.0
Id:44925

1)Quantitydemandedwillfallbyarelatively

2)Quantitydemandedwillriseintheshortrun

3)Nochangeinquantitydemanded

4)Nochangeinquantitydemanded

largeamount

Explanation:

butfallinlongrun

Q445)Whenconsumptionandinvestmentspendingtogetherisgreaterthanfull

employmentGNPlevel,itcreates

1)DeficitFinancing

Marks:1.0
Id:45121

2)DeflationaryGAP

3)InflationaryGAP

Explanation:

Q446)Withafallinapriceofacommodity

Marks:1.0
Id:44924

1)Consumersrealincomeincrease

2)Consumersrealincomedecrease

3)Nochangerealincome

4)Noneofthese

Explanation:

Q447)Thetotalrevenuecurveforaperfectlycompetitivefirm
1)isaverticallineintersectingthehorizontal

axis

Marks:1.0
Id:45257

2)isahorizontallineatthemarketprice
3)startspartwayuptheverticalaxis,sloping

upwardinabackwardsScurve

4)isastraightlinestartingfromtheoriginand

slopingupward

Explanation:

Q448)GoodsandServicesboughtandsoldin:

Marks:1.0
Id:45049

1)ProductMarket

2)FactorMarket

3)CapitalMarket

4)MoneyMarket

Explanation:

Q449)Valuemaximizationmeans

Marks:1.0
Id:44850

1)Profitmaximization

2)Salesmaximization

3)Wealthmaximization

4)Costminimization

Explanation:

Q450)Thedemandofwhichtypeofgoodsdonotdecreasewithincreaseinitsprice
1)Comforts

2)Luxury

3)Necessities

4)Capitalgoods

Marks:1.0
Id:44935

Explanation:

Q451)Derivativeuseinthe..Methodofpriceelasticity.
1)Point

2)Outlay

3)Arc

4)Output

Explanation:

Marks:1.0
Id:44909

Q452)Demandforecastingismadeforthe

Marks:1.0
Id:38774

1)Fortheexistingproductsonly.

2)Newproductsonly.

3)Forboththeexistingproducts&forthenew

4)Forthesubstitutesonly.

products.

Explanation:

Q453)Firmisanorganizationthatproducesandsellsgoodswiththegoalofmaximizingits

profits

1)Miller

2)Adamsmith

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Id:44849

3)Landsbury

4)Marshall

Explanation:

Q454)Salesopinionsurveymethodisalsoknownas
1)Samplesurvey

2)Expertspinionmethod

3)Testmarketing

4)Reactionsurvey

Explanation:

Marks:1.0
Id:44927

Q455)BrandLoyaltyusuallymakesthedemandcurveforaproduct:
1)Morepriceelastic

2)Lesspriceelastic

3)Unitaryelastic

4)Moreincomeelastic

Marks:1.0
Id:45195

Explanation:

Q456)Toaccountants,itisasingleperiodmetrictodeterminethevaluecreatedbya

companyinoneperiodusuallyayear

1)GrossProfit

2)EconomicProfit

3)NetProfit

4)NormaProfit

Explanation:

Marks:1.0
Id:45094

Q457)Ifelasticityisgreaterthanone,thenMRis

Marks:1.0
Id:45009

1)Positive

2)Zero

3)Negative

4)Negative

Explanation:

Q458)Inflationis:
1)adecreaseintheoveralllevelofeconomic

activity

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Id:45249
2)adecreaseintheoverallpricelevel
3)anincreaseintheoverallpricelevel

4)anincreaseintheoveralllevelofeconomic

activity

Explanation:

Q459)costisalsoknownasexplicitcost.

Marks:1.0
Id:45291

1)Opportunity

2)Accounting

3)Outlay

4)Sunk

Explanation:

Q460)Whatisthegoaloftheories?

Marks:1.0
Id:45150

1)Toprovideaninteresting,butnotuseful,

2)Tohelpscientistsunderstandhowtheworld

3)Todemonstratethatthedeveloperofthe

4)Toprovokestimulatingdebateinscientic

frameworkofanalysis

theoryiscapableoflogicalthinking

works

journals

Explanation:

Q461)ThecrosselasticityofthetwocomplementarygoodsXandYis.
1)Positive.

2)Negative.

3)Direct.

4)Indirect.

Explanation:

Marks:1.0
Id:45174

Q462)IfthepriceofPepsidecreasesrelativetothepriceofcokeand7up,thedemandfor
1)Cokewilldecrease

2)7upwilldecrease

3)Cokeand7upwillincrease

4)Cokeand7upwilldecrease

Marks:1.0
Id:44893

Explanation:

Q463)EconomicAnalysisforBusinessDecisionsisintegrationof:
1)Technology,Economicsandphysicalscience

Marks:1.0
Id:45071

2)Economics,decisionscienceandbusiness

management

3)Knowledgeandprinciples

4)Controlandconflicts

Explanation:

Q464)Ofthefollowingcommoditieswhichhasthelowestelasticityofdemand
1)Car

2)Salt

3)Tea

4)House

Explanation:

Marks:1.0
Id:38785

Q465)Whenasaresultofincreaseinpriceofagood,thetotalexpendituremadeonthe

goodfalls,wesaythatpriceelasticityofdemandis

1)Greaterthanone

2)Lessthanone

3)Equaltounity

4)zero

Marks:1.0
Id:44913

Explanation:

Q466)Whenanindividualspendsrelativelylessproportionofhis/hertotalincomeona

particularcommodityorservice,itselasticityofdemandiselastic.

1)More.

2)Less.

3)Relativelymore.

4)Relativelyless.

Explanation:

Marks:1.0
Id:45172

Q467)Businessprofitisequaltotalrevenueminus

Marks:1.0
Id:45157

1)Economiccosts

2)Explicitcosts

3)Implicitcosts

4)Managerialcosts

Explanation:

Q468)Amarketeconomybasedonsupplyanddemandwithlittleornogovernmentcontrol

isknownas

Marks:1.0
Id:45015

1)Freeeconomy

2)Noeconomy

3)Restrictedeconomy

4)Onlyeconomy

Explanation:

Q469)Itiscalledas______________if_x000D_ItexplainsPriceDetermination_x000D_It

explainsAllocationofResources_x000D_IthasDirectRelevanceinBusiness
DecisionMaking_x000D_ItservesasaBasisforPrediction

1)Microeconomics

2)Macroeconomics

3)Indianeconomics

4)Industrialeconomics

Explanation:

Marks:1.0
Id:45100

Q470)Economicsisdefinedas:

Marks:1.0
Id:45040

1)Thestudyofbusiness

2)Thestudyofhowsocietymanagesitsscarce

3)Thestudyofcentralplanning

4)Thestudyofgovernmentregulation

resources

Explanation:

Q471)Macroeconomicsexamines:
1)pricing,profitmaximization,andutility

maximization.

Marks:1.0
Id:45072
2)employment,output,andinflation.
3)thebehaviorofindividualhouseholds,

businesses,andgovernmentunits.

4)firm,Industryandsector

Explanation:

Q472)OneofthebasicassumptionsunderlyingAdamSmith'stheoryoftheInvisibleHand

isthat

1)governmentattemptstomaximizepower.

2)governmentplanningisnecessaryto

3)businessesandhouseholdsareconcerned

4)householdsareunselfish.Theyattemptto

abouttheirownselfinterest.

Explanation:

Marks:1.0
Id:45027

maximizeeconomicgrowth.

maximizethewellbeingoftheirfellowcitizens.

Q473)Totalrevenueismaximumwhen_x000D_

Marks:1.0
Id:45281

1)Marginalrevenueispositive_x000D__x000D_

2)Marginalrevenueisnegative

3)Marginalrevenueiszero

4)Noneoftheabove

Explanation:

Q474)Economicsdealsprimarilywiththeconceptof:
1)Poverty

2)Change

3)Scarcity

4)Power

Explanation:

Marks:1.0
Id:45067

Q475)Whoisthepresidentofplanningcommission?
1)Primeminister

2)President

3)Governor

4)Financeminister

Marks:1.0
Id:44880

Explanation:

Q476)Amarketsituationwheretherearefewsellersfortheproductiscalled:
1)Purecompetition

2)Oligopoly.

3)Monopolistic

4)Monosony.

Marks:1.0
Id:45238

Explanation:

Q477)Thepriceofbeverageincreaseby22%andthequantitydemandedofitfallsby25%.

Thisindicatesthatdemandforbeverageis

1)Elastic

2)Inelastic

3)Unitaryelastic

4)Perfectlyelastic

Marks:1.0
Id:44911

Explanation:

Q478)Microeconomicsdealswithwhichofthefollowing?

Marks:1.0
Id:45140

1)Thetotaloutputofaneconomy

2)Themeasurementofanation'sinflationrate

3)Howproducersandconsumersinteractin

4)Howtaxpoliciesinfluenceeconomicgrowth

individualmarkets

Explanation:

Q479)ThecrosselasticityofthetwosubstitutegoodsXandYis.
1)Positive.

2)Negative.

3)Direct.

4)Indirect.

Explanation:

Marks:1.0
Id:45173

Q480)Elasticitybetweentwopointscalculatein

Marks:1.0
Id:44934

1)Crosselasticity

2)Arcelasticity

3)Pointelasticity

4)Outlaymethod

Explanation:

Q481)Movementalongthesamedemandcurveshows
1)Expansionofdemand

2)Contractionofdemand

3)Increaseordecreaseindemand

4)Expansionandcontractionindemand

Explanation:

Marks:1.0
Id:44930

Q482)WhenthepriceofcommodityXrises,thequantitydemandedofitscomplementary

goodYkeepingthepriceofYconstant.

1)Rises.

2)Falls

3)Doesnotchange

4)Eitherrisesorfalls

Marks:1.0
Id:45168

Explanation:

Q483)Goodswhichhasanegativeincomeelasticitycalledas
1)Inferiorgoods

2)Inferiorgoods

Marks:1.0
Id:44919

3)Complementarygoods

4)Substitutegoods

Explanation:

Q484)Capitalgoodsarethosegoods

Marks:1.0
Id:44855

1)Whichareconsumedbyconsumer

2)Thathelpinfurtherproduction

3)Thatcanbeconsumednumberoftimes

4)Thatsatisfyhumanwants

Explanation:

Q485)ToAdamSmith,the"invisiblehand"refersto

Marks:1.0
Id:45046

1)thegovernment

2)hisfaithinpeople'sbasichumankindnessto

3)thegenerosityofbusinessesinacapitalist

4)thefreemarket.

system.

theirfellowman.

Explanation:

Q486)Whichofthisisanoncompetitivemarket?

Marks:1.0
Id:45245

1)Oligopoly

2)Perfectcompetition

3)Monopoly

4)Monopolistic

Explanation:

Q487)isthepredecessorofWTO.

Marks:1.0
Id:45059

1)GAAT

2)IMF

3)IBRD

4)NoneofThese

Explanation:

Q488)ManagerialEconomicshasawidescopein

Marks:1.0
Id:45076

1)ValueEngineering

2)ValueEngineeringManagement

3)ValueManagement

4)ProfitManagement

Explanation:

Q489)Whichofthefollowingsentenceiscorrect?

Marks:1.0
Id:44948

1)Contractionofsupplymeansupward

2)Expansionofsupplymeansdownward

3)Increaseinsupplymeansrightwardshiftof

4)Expansionofsupplymeansupwardmovement

movementofsupplycurve

demandcurve

Explanation:

movementofsupplycurve

ofsupplycurve

Q490)Microeconomicisalsoknownas

Marks:1.0
Id:44858

1)Incometheory

2)Profittheory

3)Pricetheory

4)Costtheory

Explanation:

Q491)Thecircularflowofgoodsandincomesshowstherelationshipbetween:
1)wagesandsalaries.

2)firmsandhouseholds

3)goodsandservices.

4)incomeandmoney.

Explanation:

Marks:1.0
Id:45047

Q492)Thefirmcanachieveequilibriumwhenits

Marks:1.0
Id:45193

1)MC=MR

2)MC=AC

3)ME=AC

4)MR=AR

Explanation:

Q493)Thefoundationstonesfromwhicheconomicmodelsarebuiltare
1)Economicpolicies.

2)Thelegalsystem.

3)Assumptions.

4)Statisticalforecasts

Explanation:

Marks:1.0
Id:45149

Q494)Uniformpriceisthefeatureof

Marks:1.0
Id:44981

1)Perfectcompetition

2)Monopolisticcompetition

3)Monopoly

4)Duopoly

Explanation:

Q495)Thereisrelationshipbetweenpriceandquantitysuppliedofthegoods.
1)Direct

2)Inverse

Marks:1.0
Id:44946

3)Constant

4)Fixed

Explanation:

Q496)Whatisequilibriumpriceandquantityinthefollowingcase?
1)15,40

2)35,20

3)25,50

4)Noneofthese

Explanation:

Marks:1.0
Id:44951

Q497)Marginalrevenueisequalto
1)Thechangeinpricedividedbychangein

output

Marks:1.0
Id:44957
2)Changeinquantitydividedbychangeinprice
3)ThechangeinP*Qduetooneunitchangein

output

4)Averagepriceofthegoods

Explanation:

Q498)Thefirmissaidtobeinequilibriumwhen

Marks:1.0
Id:44966

1)Itmaximizesitsprofit

2)Demandisequaltosupply

3)Itminimizesitslosses

4)Demandisatitshighestpoint

Explanation:

Q499)Whichmethodofdemandforecasting,firmstakesallhouseholdsintoconsideration?
1)Completeenumerationsurveymethod

2)Salesforceopeningmethod

3)Delphicmethod

4)Samplesurveymethod

Marks:1.0
Id:38777

Explanation:

Q500)Acartelismostlikelytooccurin
1)Perfectcompetitionasfirmscompeteby

reducingcost

Marks:1.0
Id:45276
2)Monopolisticcompetitionwherefirmscollude

toincreaseprofits

3)Monopolybecauseitfacesnocompetition

4)Oligopolyasfirmsacttogethertoraiseprices

andincreaseprofits

Explanation:

Q501)Forthefreemarkettoyieldoptimalresultsfortheproductionandconsumptionof

goodX,damSmithassumedallofthefollowingwouldhavetoexist,exceptpossibly
one.Thesingleexceptionis

1)competitionexistsintheproductionofgoodX.

2)successfulgovernmentplanningisableto

3)noexternalitiesexistintheproductionor

4)consumersovereigntyexists.

consumptionofgoodX.

Explanation:

informbusinesseshowmuchofgoodX
consumersdemand.

Marks:1.0
Id:45030

Q502)Freedomofchoiceisthefeatureof

Marks:1.0
Id:44840

1)Capitalisteconomy

2)Socialisticeconomy

3)Mixedeconomy

4)Planningeconomy

Explanation:

Q503)TheDefinitionthatEconomicsisconcernedwithanenquiryintothenatureand

causesofwealthofnationsisgivenby:

1)CarlMarx

2)AdamSmith

3)J.E.Cairens

4)Keynes

Marks:1.0
Id:45114

Explanation:

Q504)AmovementalongthesamedemandcurveforSamsungmobileisbestdescribedas

1)Anincreaseindemand

2)Adecreaseindemand

3)Achangeinquantitydemanded

4)Achangeindemand

Marks:1.0
Id:44900

Explanation:

Q505)Theinvisiblehandconceptsuggeststhat:

Marks:1.0
Id:45144

1)Marketfailuresimplytheneedforanational

2)Bigbusinessesareinherentlymoreefficient

3)Thecompetitivenessofacapitalisticmarket

4)Assumingcompetition,privateandpublic

economicplan

economyinvariablydiminishesovertime

thansmallbusinesses

interestswillcoincide

Explanation:

Q506)Thepriceelasticityofdemandforaddictiveproductslikecigarettesandalcohol

wouldbe:

1)Infinity

2)Lessthan1

3)Greaterthan1

4)Zero

Explanation:

Marks:1.0
Id:45236

Q507)Factorthatwilldeterminewhetheradvertisingbymanufacturerwillleadtohigher

sales

1)Ifdemandiselastic

2)Ifdemandisinelastic

3)Theproductcanbedifferentiated

4)Theproductisbranded

Marks:1.0
Id:45011

Explanation:

Q508)Perfectlycompetitivefirmcansellalloutputitwantsto

Marks:1.0
Id:45192

1)Bycuttingdownsupplyofoutput

2)Byloweringthepriceitchargestoeach

3)Byloweringitscostsofproduction

4)Withoutloweringtheprice

additionalunitproduced

Explanation:

Q509)Indianrailwayistheexampleof

Marks:1.0
Id:45006

1)Monopoly

2)Oligopoly

3)Perfectcompetition

4)Duopoly

Explanation:

Q510)Iftheproportionofincomespentonagoodincreaseasaincomeincreases,thenthe

incomeelasticityforthatgoodis

1)Greaterthanone

2)Lessthanone

3)Greaterthanzero

4)Lessthanzero

Marks:1.0
Id:44917

Explanation:

Q511)ThequantitysuppliedofXandthepriceofXarerelated.
1)Positively.

2)Negatively.

3)Directly.

4)Indirectly.

Explanation:

Marks:1.0
Id:45201

Q512)Generallythedemandcurve

Marks:1.0
Id:44928

1)Aslopedownwardfromlefttoright

2)Aslopeupwardfromlefttoright

3)HasNegativeslope

4)Bothaandc

Explanation:

Q513)Underperfectcompetitionafirmcanproducewith
1)Anoptimumplant

2)Anoptimumoutput

Marks:1.0
Id:44993

3)Maximumprofit

4)Identicalproductatlowcost

Explanation:

Q514)Amarketcanaccuratelybedescribedas

Marks:1.0
Id:45137

1)Aplacetobuythings

2)Aplacetosellthings

3)Theprocessbywhichpricesadjustto

4)Aplacewherebuyersandsellersmeet

reconciletheallocationofresources

Explanation:

Q515)Opportunitycostis

Marks:1.0
Id:45083

1)acostthatcannotbeavoided,regardlessof

2)thatwhichweforgo,orgiveup,whenwemake

3)thecostincurredinthepastbeforewemakea

4)theadditionalbenefitofbuyinganadditional

whatisdoneinthefuture

decisionaboutwhattodointhefuture.

achoiceoradecision

unitofaproduct

Explanation:

Q516)Increaseinconsumersincomeleadsinthedemandforinferiorgoodsto
1)increase

2)decrease

3)remainsconstant

4)noneoftheabove

Explanation:

Marks:1.0
Id:45271

Q517)Theassumptionsthattherearealargenumberofsellersandproducthomogeneity,

inperfectcompetitionitimpliesthatallindividualfirmsare_________:

1)Pricemovers

2)PriceTakers

3)Pricegivers

4)Priceoffers

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Id:45240

Explanation:

Q518)Economicprofitequals:

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Id:45163

1)Normalprofitplusopportunitycosts

2)Businessprofitminusimplicitcosts

3)Businessprofitsplusimplicitcosts

4)Normalprofitsminusopportunitycosts

Explanation:

Q519)Tostudyanindividualconsumersbehaviour,weneed:
1)MicroEconomics

2)MacroEconomics

3)MicroandMacroBoth

4)Consumerbehaviourscience

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Id:45109

Explanation:

Q520)Pricediscriminationmeans

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Id:45007
1)Chargedifferentpricefromdifferentbuyerfor

2)Chargedifferentpricefromdifferentbuyerfor

3)Chargedifferentpricefromdifferentsellerfor

4)Chargesamepricefromdifferentbuyerfor

differentproduct

sameproduct

sameproduct

sameproduct

Explanation:

Q521)Amarketstructureinwhichmanyfirmssellproductsthataresimilarbutnotidentical

isknownas

1)Monopoly

2)Monopolisticcompetition

3)Perfectcompetition

4)Oligopoly

Explanation:

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Id:44975

Q522)Principalagentproblemreflectsdifferencesintheobjectives
1)OwnerandManager_x000D_b)d)

2)Managerandemployees

3)Ownerandboardofdirectors

4)Employeesandcustomers_x000D_

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Id:45286

Explanation:

Q523)Amovementalongthedemandcurvetotheleftmaybecausedby:

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Id:38748

1)afallinthenumberofsubstitutegoods.

2)ariseinthepriceofinputs.

3)adecreaseinsupply.

4)ariseinincome.

Explanation:

Q524)Invisiblehandtheoryisgivenby

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Id:44845

1)Samuelson

2)Adamsmith

3)Marshall

4)Pigou

Explanation:

Q525)Whichofthefollowingisnotthefactorwhichdeterminethedemand
1)Levelofincome

2)Price

3)Supply

4)Fashion

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Id:44888

Explanation:

Q526)Itisatheoreticalmeasureanddenotesthe"right"levelofprofitabusinesscan

achieve

1)OptimumProfit

2)EconomicProfit

3)EconomicRent

4)AccountingProfit

Explanation:

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Id:45095

Q527)Expansionandcontractionoccursdueto

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Id:44896

1)Changeinthepriceofgoodsconcerned

2)Changeinthelevelofincomeofpeople

3)Changeinthepopulation

4)Changeinpriceofsubstitutegoods

Explanation:

Q528)WhichofthefollowingcurveisneverUshaped?
1)Marginalcost

2)Averagevariablecost

3)Averagetotalcost

4)Averagefixedcost

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Id:44962

Explanation:

Q529)ThequantitydemandedofXandthepriceofXarerelated.
1)Positively.

2)Negatively.

3)Directly

4)Indirectly

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Id:45219

Explanation:

Q530)Allofthefollowingaredeterminantsofdemandexcept:

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Id:45241
1)Price

2)Supply

3)Tastes

4)Priceofothergoods

Explanation:

Q531)Costisalsoknownasimputedcost.

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Id:44842

1)Opportunity

2)Marginal

3)Total

4)Historical

Explanation:

Q532)BasedontheLawofdemand,quantitydemandedis_________relatedtoprice:
1)Directly

2)Positively

3)Inversely

4)Actually

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Id:45208

Explanation:

Q533)Incomeelasticityforluxuriousgoodsis

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Id:44918

1)Lessthanzero

2)Greaterthanzero

3)Lessthanone

4)Greaterthanone

Explanation:

Q534)Whenweanalysetheproblemsofeconomyasawholeitisastudyof:
1)MicroEconomics

2)MacroEconomics

3)MicroandMacroboth

4)Noneofthese

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Id:45108

Explanation:

Q535)ItisalsoknownasPrescriptiveEconomics
1)PositiveEconomics

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Id:45033
2)Microeconomics

3)Normativeeconomics

4)Economics

Explanation:

Q536)Theopportunitycostofagoodis

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Id:45136

1)Thetimelostinfindingit

2)Thequantityofothergoodssacrificedtoget

3)Theexpenditureonthegood

4)Thelossofinterestinusingsavings

Explanation:

anotherunitofthatgood

Q537)Ifthedemandcurveshiftfromlefttorightthenitiscalledas
1)Increaseindemand

2)Decreaseindemand

3)Expansionindemand

4)Contractionindemand

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Id:44897

Explanation:

Q538)FirstconditionofequilibriumisMC=MRandsecondconditionisshould

cutfrom.

1)MCcurve,MRcurve,above

2)MCcurve,MRcurve,below

3)MRcurve,MCcurve,below

4)MRcurve,MCcurve,above

Explanation:

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Id:45005

Q539)Basicprice

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Id:45087

1)Isthevaluationoftheproductofthefirm

2)Isthedeterminationofcostofproductofthe

3)Isthedeterminationofthecompaniesprice

4)Isacostprice

level

Explanation:

firm

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