LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Single Answer
In case of a pure public good, its marginal cost is
During the period of depression, a large part of a country’s resources lie involuntarily idle.
Select The Blank
Goods which are paradoxical to the law of demand are ________
Giffen goods, ,
In contrast to the normative concept of justice, efficiency and inefficiency are positive concepts.
Pure private goods are completely divisible and to them the principle of exclusion applies in full measure.
Macro-economies is a policy oriented science.
On the ________ level, the summation of maximum individual welfare does not automatically lead to maximum social welfare.
Multiple Choice Multiple Answer
Equilibrium is the stage of
maximum satisfaction , balance , stationary
In the context of formulating an investment project, ________ feasibility means the availability of supervisors for implementing and running the project smoothly and professionally.
The subject matter of Micro economics includes the study of
an individual consumer , particular market for a given commodity , operation of a firm
Economic problem does not recognize the boundaries of caste,creed,culture Thus economic problem is always considered as the
Demand for safety pins is ________
Supply curve shifts to the right side of the original supply curve when, the supply
The consumer protection Act includes
Protection from hazardous commodities , Right to a competitive price , Right to information regarding protection
Match The Following
optimum combination of inputs
Elasticity of demand
In a market system of an economy, producers are guided by ________ motive.
Features of the firm are
It is a business unit organized under one ownership , It is a sole proprietorship , It is a partnership or joint stock company
It is a business unit organized under one ownership , It is a sole proprietorship
The chemical effluents recklessly released by a chemical factory in the river causing water pollution, is an example of ________ cost.
Investment is significant because
Addition to the real capital assets , It leads to increase in level of income , Increases accumulated wealth of the society
Addition to the real capital assets , It leads to increase in level of income
Price discrimination is possible in perfect competition
The index numbers which are compiled to measure the changes in retail prices of various commodities refers to ________
Retail prices index
In the context of formulation of an investment project, ________ feasibility means the availability of land, plant, machinery, raw materials and technical know how etc.
Managerial economics is also understood to refer to
The type economic problem is
When price of a commodity falls, the supply of that commodity increases.
The act of making goods and services is called
If supply of goods and services can be increased to correspond with every increase in demand, price level will tend to
Complementary goods are demanded
General Theory of Employment, Interest and Money
J. M. Keynes
Decision making and forward planning
goods and services
Quantitative credit control measures are
open market operations , changes in bank rates , changes in statutory reserve ratio
Inflation is characterized by excess of demand.
The good becomes ________ so far as its use is concerned only when it is priced in the market and the principle of exclusion is applied to it.
Institution of private property is not an essential feature of Capitalism.
Firm is an
The city of Ahmedabad has specialized in the manufacture of
When more units of a commodity are purchased in response to decline in price of that commodity, it is called as expansion of
Different types of Elasticity of Demand are
Price elasticity of demand , Income elasticity of demand , Cross elasticity of demand
Perfectly elastic demand
According to Prof. F.H. Knight, profit is a reward for
The disinvestments of industries is needed for
Phased privatization , Reducing deficit , Capital support to plans
Types of Share capital of Joint-Stock Company are
registered or authorized capital , issued capital , paid-up capital
The form of organization which is best for self employment is ________.
Managerial economics refers to the integration of economic theory with business
The cost which enter the accounts book of the firm are referred as ________.
The most significant feature of perfect competition is the existence of an automatic price mechanism.
Managerial economics generally refers to the integration of economic theory with business
Every nation’s resources which are used to produce the quantities of goods and services that would be required to satisfy all its citizen’s wants are
Under the liberalization policy, Government added another list of nine industries for which automatic approval upto 74 % would be allowed