Managerial Economics - 13

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Single Answer
Question
Managerial economics generally refers to the integration of economic theory with business
Correct Answer
Practice
Your Answer
Practice

Multiple Choice Single Answer
Question
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
Correct Answer
insufficient
Your Answer
sufficient

Multiple Choice Single Answer
Question
All the buyers and sellers operating under perfect competition have knowledge
Correct Answer
perfect
Your Answer
perfect

True/False
Question
Inflation reduces the purchasing power of money and savings.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
The supply curve during market period is perfectly
Correct Answer
inelastic
Your Answer
inelastic

True/False
Question
Micro-economics is primarily concerned with the problem of what, how and for whom to produce
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Managerial economics
Decision making and forward planning
Decision making and forward planning
Resources
scarce
goods and services
Commodities
goods and services
scarce
Human wants
unlimited
unlimited
General Theory of Employment, Interest and Money
J. M. Keynes
J. M. Keynes

True/False
Question
The price policy under monopolistic competition is dependent on the prices charged by other rival firms
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
All firms producing the same or similar product together make
Correct Answer
an industry
Your Answer
an industry

Multiple Choice Single Answer
Question
Joint Stock Company succession is
Correct Answer
perpetual
Your Answer
perpetual

True/False
Question
Private profit motive is an essential feature of Capitalism
Correct Answer
True
Your Answer
True

True/False
Question
‘Free riders’ is a term associated with the people who would like to have benefit of a good without sharing the cost of its supply
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
Macro – economics provides an exploration to the functioning of an economy in
Correct Answer
general
Your Answer
general

True/False
Question
Inflation is a great opportunity for merchants to benefit more.
Correct Answer
True
Your Answer
True

True/False
Question
The various phases of business cycles are shown by the line of cycle which moves up and down the steady growth line
Correct Answer
True
Your Answer
True

True/False
Question
In the measurement of profit, the differences in the concept of profit arise out of the differences in cost concepts
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
In economics demand means desire backed by adequate
Correct Answer
purchasing power
Your Answer
ability to pay

Multiple Choice Single Answer
Question
The law of diminishing returns is applicable to agriculture provided the state of technology is given and
Correct Answer
constant
Your Answer
constant

Multiple Choice Single Answer
Question
Under the monetary measures to control inflation, the R. B. I relies heavily on selective credit controls on bank loans against food grains, sugar, oils, oilseeds, cotton etc so as to discourage
Correct Answer
Speculative hoarding
Your Answer
Speculative hoarding

Multiple Choice Single Answer
Question
Slope of supply curve is
Correct Answer
positive
Your Answer
positive

Multiple Choice Single Answer
Question
Costs which increase because of the expansion of a firm are called costs
Correct Answer
incremental
Your Answer
incremental

True/False
Question
The opportunity cost of a product is the opportunity gained of being able to produce some other product.
Correct Answer
False
Your Answer
False

True/False
Question
The supply curve in case of unitary elastic supply is rectangular hyperbola.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
An Industry
Correct Answer
Is a group of firms , All firms dealing in the same line of business , The ownership and management of each firm is different
Your Answer
Is a group of firms , All firms dealing in the same line of business , The ownership and management of each firm is different

Select The Blank
Question
Under monopoly, there is ________ seller who controls the entire ________ in the market
Correct Answer
only one
Your Answer
only one
Correct Answer
supply
Your Answer
supply

Select The Blank
Question
Under monopsony, there are ________ sellers but ________ buyer
Correct Answer
many
Your Answer
many
Correct Answer
only one
Your Answer
only one

Match The Following
Question
Correct Answer
Your Answer
Marginal utility
Addition to total utility
Addition to total utility
Total utility increases marginal
Posative and declining
Marginal utility is zero
At the saturation point for a commodity x the Mux is
Zero
Demand curve of a commodity
Marginal utilities are
Demand curve of a commodity
Posative and declining
Total utility is
Marginal utility is zero
Zero

Select The Blank
Question
By using cost-benefit analysis we can show the ________ necessary for attaining maximum ________ and optimal policy aiming at this goal
Correct Answer
measures
Your Answer
Gross Domestic Product
Correct Answer
net wealth
Your Answer
gross wealth

Multiple Choice Multiple Answer
Question
Average propensity to consume
Correct Answer
It is defined as the ratio of consumption expenditure to any particular level of income , It is found by dividing consumption expenditure by income , It is expressed as the percentage of income consumed
Your Answer
It is derived by dividing income by consumption expenditure

Multiple Choice Multiple Answer
Question
Inflation means
Correct Answer
It is a phenomenon of rising prices , It is a general and dynamic phenomenon , It includes an excess of demand
Your Answer
It is a phenomenon of rising prices

Select The Blank
Question
Aggregate supply function refers to a ________ of the various minimum amounts of proceeds or ________ , which must be expected to be received by the entrepreneur class from the sale of output result
Correct Answer
schedule
Your Answer
demand
Correct Answer
revenues
Your Answer
revenues

Select The Blank
Question
In the ________ terminology, the ________ demand function refers to the schedule of maximum sales proceeds, which the entrepreneurial community actually does expect to be received from the sale of
Correct Answer
Keynesian
Your Answer
Keynesian
Correct Answer
aggregate
Your Answer
aggregate

Multiple Choice Multiple Answer
Question
The fiscal policy includes
Correct Answer
Formation of taxation policy , It is an instrument for economic stabilization , Monitoring of public expenditure
Your Answer
Formation of taxation policy , It is an instrument for economic stabilization , Monitoring of public expenditure

Multiple Choice Multiple Answer
Question
The meaning of monetary policy
Correct Answer
It is programme of the central bank , It controls the total supply of money , The basic objective is to achieve economic stability
Your Answer
It is programme of the central bank , It controls the total supply of money , The basic objective is to achieve economic stability

Multiple Choice Multiple Answer
Question
Causes for rise in prices in India
Correct Answer
Mounting government expenditure , Deficit financing and increase in money supply , Role of black money
Your Answer
Mounting government expenditure , Deficit financing and increase in money supply , Role of black money

Multiple Choice Multiple Answer
Question
Managerial economics deals with
Correct Answer
Integration of economic theory with business practice , Using logic of economics, mathematics & statistics. , The use of economic modes of thought to analyze business solution.
Your Answer
Integration of economic theory with business practice , Using logic of economics, mathematics & statistics.

Multiple Choice Multiple Answer
Question
The sources of economic problems are:
Correct Answer
Man has unlimited wants or ends , The means or resources to satisfy them are limited. , These resources are not specific but have alternative uses.
Your Answer
Man has unlimited wants or ends , The means or resources to satisfy them are limited. , These resources are not specific but have alternative uses.

Multiple Choice Multiple Answer
Question
Different types of business organizations are;
Correct Answer
Private sector. , Public sector. , Joint sector.
Your Answer
Joint sector.

Multiple Choice Multiple Answer
Question
Proprietary firm is
Correct Answer
Owned by a single person. , Easy to form. , An organization of single person.
Your Answer
Owned by a single person.

Multiple Choice Multiple Answer
Question
Methods of measurement of elasticity
Correct Answer
Percentage Method , Point elasticity Method , Total outlay expenditure method
Your Answer
Percentage Method , Point elasticity Method , Total outlay expenditure method

Multiple Choice Multiple Answer
Question
Demand forecasts are necessary for:
Correct Answer
Fulfillment of objective of the plans , Preparation of a budget , Expansion of firms
Your Answer
Preparation of a budget , Expansion of firms

Select The Blank
Question
Economic theory provides the basis for the ________ _ making process, there is some difference between the generalization based on abstraction and actual practices. Besides economic theory, mat
Correct Answer
decision making
Your Answer
optimal
Correct Answer
statistics
Your Answer


Select The Blank
Question
The resources of a society consist not only of the free gifts of nature such as ________ but also of ________ and of all sorts of man made aids to further production.
Correct Answer
land and minerals
Your Answer
land and minerals
Correct Answer
human capacity
Your Answer
human capacity

Select The Blank
Question
Individual or sole ________ , which is also called sole- ________ , or single entrepreneurship is the most common, the simplest and the oldest form of business organisation.
Correct Answer
proprietorship
Your Answer
proprietorship
Correct Answer
trader ship
Your Answer
trader ship

Select The Blank
Question
Nominal cost is the ________ cost of production, it is also called expenses of production. The real cost is the ________ cost of production.
Correct Answer
money
Your Answer
opportunity
Correct Answer
opportunity
Your Answer
gross

Select The Blank
Question
Costs may be classified as : (a) ________ , including material costs, wage cost and interest cost (b) ________ , including costs of advertising and (c) other costs, including insurance ch
Correct Answer
Production costs
Your Answer
Production costs
Correct Answer
Selling costs
Your Answer
Selling costs

Select The Blank
Question
The costs of self owned resources, which are employed by the ________ , are non- expenditure or , ________
Correct Answer
firm
Your Answer
firm
Correct Answer
implicit costs .
Your Answer
implicit costs .

Managerial Economics - 12

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
A monopolist in a price maker.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The city of Faridabad has specialized in the manufacture of
Correct Answer
bangles
Your Answer
bangles

Multiple Choice Multiple Answer
Question
Demand is determined by
Correct Answer
Price of the product , Relative prices of other goods , Tastes and habits
Your Answer
Price of the product , Relative prices of other goods , Tastes and habits

Multiple Choice Multiple Answer
Question
Baumol has pointed out three main contributions of economic theory. They are
Correct Answer
Economic theory offers clarity to various concepts used in the business anlayses , Economic theory contributes in building anlyatical model to rocognize managerial problems , Economic theory contributes to ,'a set of analytical methods' which enhance the analytical capabilities of business analyasis
Your Answer
Economic theory offers clarity to various concepts used in the business anlayses , Economic theory contributes in building anlyatical model to rocognize managerial problems , Economic theory contributes to ,'a set of analytical methods' which enhance the analytical capabilities of business analyasis

True/False
Question
In case of indivisible goods, which are not priced, the decisions regarding their demand preferences are taken through price mechanism.
Correct Answer
False
Your Answer
True

True/False
Question
A shift in the demand curve to the left shows increase in demand.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
The act of making goods and services is called
Correct Answer
production
Your Answer
production

Multiple Choice Single Answer
Question
With decline in price of a commodity, total expenditure spent on the commodity is less than before, then elasticity of demand for the commodity is
Correct Answer
< 1
Your Answer
< 1

Match The Following
Question
Correct Answer
Your Answer
N.G.O.S
Voluntary social work
Voluntary social work
Sole proprietorship
Unlimited liability
Unlimited liability
Preference shares
Fixed rate of dividend
Fixed rate of dividend
Public enterprises
State control
State control

True/False
Question
Pure private goods are completely divisible and to them the principle of exclusion applies in full measure.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The act of using goods and services to satisfy wants is called
Correct Answer
consumption
Your Answer
consumption

True/False
Question
External economies are the advantages of large scale production enjoyed exclusively an individual firm alone.
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Market mechanism is characterized by
Correct Answer
instability
Your Answer
stability

Multiple Choice Multiple Answer
Question
Features of Pure Competition are
Correct Answer
Large number of buyers and sellers , Homogeneous products , Free entry and free exit of firms
Your Answer
Large number of buyers and sellers , Homogeneous products , Free entry and free exit of firms

Multiple Choice Single Answer
Question
The things that are produced by factors of production are called
Correct Answer
commodities
Your Answer
free goods

True/False
Question
Generally, the larger the income of a consumer, his demand for overall commodities tends to be relatively elastic.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
The production function studies
Correct Answer
Input and out put relation , Factors of production and final production , Technology used in production
Your Answer
Input and out put relation , Factors of production and final production , Demand for production

Select The Blank
Question
The externality which causes an economic gain or an economic loss to other economic units is also referred to as ________ externality.
Correct Answer
Pecuniary
Your Answer
Social

Select The Blank
Question
The index numbers which are compiled to measure the changes in retail prices of various commodities refers to ________
Correct Answer
Retail prices index
Your Answer
Retail prices index

Select The Blank
Question
In the context of formulating an investment project, ________ feasibility means the availability of supervisors for implementing and running the project smoothly and professionally.
Correct Answer
management
Your Answer
management

Select The Blank
Question
The minimum number of directors which private limited should have is ________.
Correct Answer
2
Your Answer
2

Select The Blank
Question
In a market economy ________ is the best judge of personal interest.
Correct Answer
individual
Your Answer
individual

Multiple Choice Single Answer
Question
The concept of just distribution of national product is a
Correct Answer
normative
Your Answer
neutral

True/False
Question
Supply management is related to the volume ofsupply & its distribution system.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The type economic problem is
Correct Answer
universal
Your Answer
universal

Multiple Choice Single Answer
Question
Under monopoly entry of new firms is
Correct Answer
prohibited
Your Answer
prohibited

Multiple Choice Multiple Answer
Question
Specific organizational goals of Firms are
Correct Answer
maximization of profit , reasonable profit target , sales revenue maximization
Your Answer
maximization of profit , sales revenue maximization , to cover risk and uncertainty

Multiple Choice Multiple Answer
Question
Government intervention is needed in free market mechanism to
Correct Answer
To provide employment to all who willing to work at prevailing wage rate , Factors of production are optimally allocated between the various industries , All will get sufficient income to meet their basic needs
Your Answer
To provide employment to all who willing to work at prevailing wage rate , Factors of production are optimally allocated between the various industries , Control the market mechanism by charging license fees, commissions, etc

Multiple Choice Single Answer
Question
The firm is a center, where all the decisions are taken about
Correct Answer
production
Your Answer
production

Multiple Choice Single Answer
Question
Under the imperfect market, the market in which few firms exists is called as
Correct Answer
Oligopoly
Your Answer
Oligopoly

True/False
Question
There are no real exceptions to the law of demand
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
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
Correct Answer
insufficient
Your Answer
insufficient

True/False
Question
The prosperity phase is characterized by rise in the level of employment.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
The characteristics of a sole proprietorship firm is
Correct Answer
Unlimited Capital , Ownership by a single person , Easy to form
Your Answer
Ownership by a single person , Easy to form

Select The Blank
Question
Sole Proprietorship which is also called sole ________
Correct Answer
tradership
Your Answer
tradership

Multiple Choice Single Answer
Question
The method of inventory valuation in which , the cost of production is calculated on the assumption that the material which was last to enter the inventory of the company was used first is
Correct Answer
LIFO
Your Answer
LIFO

Multiple Choice Single Answer
Question
In economics, demand means desire backed by adequate
Correct Answer
purchasing power
Your Answer
purchasing power

Multiple Choice Single Answer
Question
Managerial economics generally refers to the integration of economic theory with business
Correct Answer
Practice
Your Answer
Practice

Multiple Choice Single Answer
Question
A group of firms dealing in the same line of business are called as
Correct Answer
Industry
Your Answer
Industry

Multiple Choice Single Answer
Question
Managerial economics is also understood to refer to
Correct Answer
applied economics
Your Answer
applied economics

Match The Following
Question
Correct Answer
Your Answer
Non-price competition
advertisement.
advertisement.
Prestige price
high price on account of prestige considerations.
high price on account of prestige considerations.
Administered prices
public sector undertaking.
state government.
Pricing in cooperative societies
state government.
public sector undertaking.

Multiple Choice Single Answer
Question
The demand curve (A.R.) of a firm under perfect competition is
Correct Answer
perfectly elastic
Your Answer
inelastic

Multiple Choice Multiple Answer
Question
The advantage of cost-benefit analysis are
Correct Answer
Maximization of social welfare , Objective measurement of the trade-off , Maximization of difference between total benefits & total costs
Your Answer
Maximization of social welfare , Maximization of difference between total benefits & total costs , Applicable only in partial equilibrium framework.

Select The Blank
Question
By using cost-benefit analysis we can show the measures necessary for attaining maximum ________ and optimal policy aiming at this goal.
Correct Answer
net wealth
Your Answer
net domestic product

Multiple Choice Multiple Answer
Question
The causes of inflation are
Correct Answer
Increase in public expenditure , Increase in private expenditure , Increase in foreign demand
Your Answer
Increase in public expenditure , Increase in foreign demand , Increase in taxation

Select The Blank
Question
The partnership between private sector & government is called ________
Correct Answer
Joint sector enterprise
Your Answer
Joint sector enterprise

Multiple Choice Multiple Answer
Question
Features of short run period are
Correct Answer
Supply of goods can be adjusted to the demand to some extent , Supply and demand determine the price , Some factors can be changed
Your Answer
Supply of goods can be adjusted to the demand to some extent , Supply and demand determine the price , Some factors can be changed

Managerial Economics - 11

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
A supply schedule is a graphical presentation of supply patterns.
Correct Answer
False
Your Answer
True

True/False
Question
The subject matter of macro – economics includes the theory of income and employment at an individual level.
Correct Answer
False
Your Answer
False

Select The Blank
Question
When demand for the product increases in the same proportion in which income increases, Income elasticity of demand will be equal to________
Correct Answer
unity
Your Answer
unity

Multiple Choice Multiple Answer
Question
Features of stage of expansion in business cycle are
Correct Answer
Rise in national output , Rise in consumer and capital expenditure , Bank advances grow rapidly
Your Answer
Rise in national output , Rise in consumer and capital expenditure , Bank advances grow rapidly

Multiple Choice Multiple Answer
Question
Explicit costs are
Correct Answer
Out of pocket costs , These are firms accounting expenses , Expenditure costs
Your Answer
Out of pocket costs , These are firms accounting expenses , Expenditure costs

Multiple Choice Single Answer
Question
Demand for products like tea, betel, tobacoo, sigaratte is a matter of
Correct Answer
habit
Your Answer
habit

Multiple Choice Single Answer
Question
If the substitutes are relatively cheaper then the demand for the commodity in question will be
Correct Answer
less
Your Answer
less

Multiple Choice Single Answer
Question
An assembly of several machines, linked together either physically or by processes, capable of producing a given quantity of a product per day is
Correct Answer
plant
Your Answer
plant

Multiple Choice Single Answer
Question
The Risk Taking Theory was developed by Hawley, who was an
Correct Answer
American Economist
Your Answer
American Economist

Select The Blank
Question
The cost which enter the accounts book of the firm are referred as ________.
Correct Answer
Accounting cost
Your Answer
Accounting cost

Select The Blank
Question
The persons who own the ________hip concern are called Partners.
Correct Answer
Partners
Your Answer
Partners

Select The Blank
Question
Perfectly elastic demand curve is ________
Correct Answer
horizontal
Your Answer
horizontal

Select The Blank
Question
While discussing the product divisibility of public and private goods, the principle of ________ may be applied in case of only those people who do not agree to pay or who cannot pay the market price
Correct Answer
exclusion
Your Answer
exclusion

Multiple Choice Multiple Answer
Question
Features of the firm are
Correct Answer
It is a business unit organized under one ownership , It is a sole proprietorship , It is a partnership or joint stock company
Your Answer
It is a business unit organized under one ownership , It is a sole proprietorship , It is a partnership or joint stock company

Multiple Choice Multiple Answer
Question
The causes of inflation are
Correct Answer
Increase in public expenditure , Increase in private expenditure , Increase in foreign demand
Your Answer
Increase in public expenditure , Increase in private expenditure , Increase in foreign demand

True/False
Question
Inflation is a great opportunity for merchants to earn more profit.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Human wants
unlimited
unlimited
General Theory of Employment, Interest and Money
J. M. Keynes
J. M. Keynes
Managerial economics
Decision making and forward planning
Decision making and forward planning
Resources
scarce
scarce
Commodities
goods and services
goods and services

Multiple Choice Multiple Answer
Question
The advantage of cost-benefit analysis are
Correct Answer
Maximization of social welfare , Objective measurement of the trade-off , Maximization of difference between total benefits & total costs
Your Answer
Maximization of social welfare , Objective measurement of the trade-off , Maximization of difference between total benefits & total costs

Select The Blank
Question
Sole Proprietorship which is also called sole ________
Correct Answer
tradership
Your Answer
tradership

True/False
Question
A plant is an economic unit which takes various decisions related to production and distribution.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Features of an Industry are
Correct Answer
All firms dealing in the same line of business , The ownership and management of each firm is different , Is a group of firms
Your Answer
All firms dealing in the same line of business , The ownership and management of each firm is different , Is a group of firms

Multiple Choice Single Answer
Question
Managerial economics generally refers to the integration of economic theory with business
Correct Answer
Practice
Your Answer
Practice

True/False
Question
During recession, on account of decline in investment by producers, there is decline in income and consumption.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
The fiscal policy includes
Correct Answer
Monitoring of public expenditure , Formation of taxation policy , It is an instrument for economic stabilization
Your Answer
Formation of taxation policy , It is an instrument for economic stabilization , Monitoring of public expenditure

Multiple Choice Single Answer
Question
Forecasts made either through experience or through methodigistic are
Correct Answer
statistical
Your Answer
statistical

Multiple Choice Single Answer
Question
Managerial economics is also understood to refer to
Correct Answer
applied economics
Your Answer
applied economics

Select The Blank
Question
The externality which causes an economic gain or an economic loss to other economic units is also referred to as ________ externality.
Correct Answer
Pecuniary
Your Answer
Social

Multiple Choice Single Answer
Question
According to Prof. F.H. Knight, profit is a reward for
Correct Answer
uncertainty bearing
Your Answer
uncertainty bearing

Multiple Choice Single Answer
Question
The principle of full employment equilibrium was stated by
Correct Answer
Say's Law of Market
Your Answer
Law of Demand

Multiple Choice Multiple Answer
Question
Phases of business cycle
Correct Answer
Expansion , Peak , Recession
Your Answer
Expansion , Peak , Recession , Trough

True/False
Question
In case of a Joint Stock Company the liability of the share holders is unlimited.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
Goods which are completely divisible and to them the principle of exclusion applies in full measure, are called
Correct Answer
Pure public goods
Your Answer
Private goods

Multiple Choice Multiple Answer
Question
Assumptions underlying the law of Supply are
Correct Answer
The cost of production is unchanged , No change in technique of production , Government policies are unchanged
Your Answer
The cost of production is unchanged , No change in technique of production , Government policies are unchanged

Multiple Choice Multiple Answer
Question
The payments made out of the Gross Profit are
Correct Answer
Remuneration to factors of production , Depreciation , Maintenance Charges
Your Answer
Remuneration to factors of production , Depreciation , Maintenance Charges

Select The Blank
Question
The indivisible goods to which the principle exclusion does not apply are called ________ goods.
Correct Answer
pure public
Your Answer
pure public

True/False
Question
Micro-economics is primarily concerned with the problem of what, how and for whom to produce?
Correct Answer
False
Your Answer
True

Multiple Choice Single Answer
Question
Gross profit is the excess of total revenue of a firm over total
Correct Answer
expenditure
Your Answer
expenditure

True/False
Question
During period of depression various factors of production lie unutilized.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Co-operative organizations is
Correct Answer
voluntary organization , managed by democratic principle , organization, which performs its business within the members
Your Answer
voluntary organization , managed by democratic principle , organization, which performs its business within the members , non profit motive organization

Multiple Choice Single Answer
Question
Macro economics is the study of the
Correct Answer
aggregate behavior of economy
Your Answer
aggregate behavior of economy

True/False
Question
To solve the unemployment problem, the level of effective demand must decrease.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
The public sector is owned & controlled by
Correct Answer
state enterprises
Your Answer
state enterprises

Select The Blank
Question
Demand for safety pins is ________
Correct Answer
inelastic
Your Answer
relatively inelastic

Multiple Choice Single Answer
Question
Under perfect competition, generally demand and supply act and react upon each other and determine the price
Correct Answer
equilibrium
Your Answer
equilibrium

True/False
Question
During the period of recession there is increase in incomes of wage and interest earners.
Correct Answer
False
Your Answer
False

Select The Blank
Question
In a market economy ________ is the best judge of personal interest.
Correct Answer
individual
Your Answer
firm