Economic profit or normal profit is the same as - (1) optimum profit (2) accounting profile (3) maximum profit (4) net profit

Economic profit or normal profit is the same as - (1) optimum profit (2) accounting profile (3) maximum profit (4) net profit
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(4) net profit Explanation: Normal profit or economic profit is an economic condition occurring when the difference between a firm's total revenue and total cost is equal to zero. Simply put, normal profit is the minimum level of profit needed for a company to remain competitive in the market. In a sense, normal profit is the same as net profit which is calculated by subtracting a company's total expenses from total revenue, thus showing what the company has earned (or lost) in a given period of time. Accounting profit occurs when revenues are greater than costs, and not equal, as in the case of normal profit.
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Economic profit or normal profit is the same as : (1) optimum profit (2) accounting profile (3) maximum profit (4) net profit

Description : Economic profit or normal profit is the same as : (1) optimum profit (2) accounting profile (3) maximum profit (4) net profit

Last Answer : net profit

A firm that break even after all the economic costs are paid in earning (a) Economic profit ; (b) Accounting profit ; (c) Normal profit ; (d) Super normal profit

Description : A firm that break even after all the economic costs are paid in earning (a) Economic profit ; (b) Accounting profit ; (c) Normal profit ; (d) Super normal profit

Last Answer :  (c) Normal profit ;

The remuneration of the entrepreneur in production is - (1) Pure profit (2) Gross profit (3) Net profit (4) Super-normal profit

Description : The remuneration of the entrepreneur in production is - (1) Pure profit (2) Gross profit (3) Net profit (4) Super-normal profit

Last Answer : (3) Net profit Explanation: Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. An entrepreneur is a person who combines the other factors ... commodities on the basis of demand, looking after efficient distribution) from the gross profit.

The remuneration of the entrepreneur in production is (1) Pure profit (2) Gross profit (3) Net profit (4) Super-normal profit

Description : The remuneration of the entrepreneur in production is (1) Pure profit (2) Gross profit (3) Net profit (4) Super-normal profit

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Given competitive conditions, a firm in the long run earn (a) Quasi-rent (b) Pure-rent (c) Normal profit (d) Economic profit

Description : Given competitive conditions, a firm in the long run earn (a) Quasi-rent (b) Pure-rent (c) Normal profit (d) Economic profit

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Surplus earned by a factor other than land in the short period of referred to as- (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Description : Surplus earned by a factor other than land in the short period of referred to as- (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Last Answer : (3) quasi-rent Explanation: Quasi-rent is the surplus which is received in the short period because of demand exceeding the supply by the man made factors besides land. It is an analytical term ... opportunity cost is defined as the current income minus the income available in the next best use.

Surplus earned by a factor other than land in the short period of referred to as (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Description : Surplus earned by a factor other than land in the short period of referred to as (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

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In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses

Description : In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses

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Net National Product in National Income Accounting refers to - (1) Gross Domestic Product—Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product—Depreciation (4) Gross National Product + Subsidies

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Net National Product in National Income Accounting refers to (1) Gross Domestic Product— Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product— Depreciation (4) Gross National Product + Subsidies

Description : Net National Product in National Income Accounting refers to (1) Gross Domestic Product— Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product— Depreciation (4) Gross National Product + Subsidies

Last Answer : Gross National Product— Depreciation

In accounting terms, what constitutes the ‘closing stock’? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment – Capital Losses

Description : In accounting terms, what constitutes the ‘closing stock’? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment – Capital Losses

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The maximum quantity that a supplier is prepared to supply in the market at a given price is called (a) Economic order quantity ; (b) Optimum quantity ; (c) Supply quantity ; (d) Both or quantity

Description : The maximum quantity that a supplier is prepared to supply in the market at a given price is called (a) Economic order quantity ; (b) Optimum quantity ; (c) Supply quantity ; (d) Both or quantity

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Difference between average cost and average revenue is (a) total profit (b) net profit © average profit (d) marginal profit

Description : Difference between average cost and average revenue is (a) total profit (b) net profit © average profit (d) marginal profit

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‘Normal Profit’ means (a) Profit earned by the marginal firm in a normal year. (b) Minimum amount needed to keep a firm in the same business. (c) The payment made to marginal firm for its ability. (d) Surplus profit earned by the least efficient firm

Description : ‘Normal Profit’ means (a) Profit earned by the marginal firm in a normal year. (b) Minimum amount needed to keep a firm in the same business. (c) The payment made to marginal firm for its ability. (d) Surplus profit earned by the least efficient firm

Last Answer : (c) The payment made to marginal firm for its ability.

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Description : Which is the most common method of measuring economic development? a. Profit loss b. Income c. Sales d. Import-export

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Description : Which is the most common method of measuring economic development? a. Profit loss b. Income c. Sales d. Import-export

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Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above

Description : Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above

Last Answer : d. all of the above

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Description : Pick out the wrong statement. (A) In process heat exchangers, saturated steam is preferred over the superheated steam (B) The maximum is the emissive power of a surface at a temperature T1 ... under natural convection conditions, the velocity profile in air, normal to the plate, exhibits a maximum

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Super profit mean A. Average Profit – Net profit B. Average Profit – Normal rate of return C. Weighted Average Profit D. Net profit – Average Profit

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Optimum profit will be obtained at a point where

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Last Answer : Ans. MC = MP

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Description : Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

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In case of monopoly, a firm in the long run can have A.Loss B.Super Normal Profit C.Break even D.All of these

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Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

Description : Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

Last Answer : sum of wages, interest, rent and normal profit.

The degree of monopoly power is to be measured in terms of the firm’s (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price

Description : The degree of monopoly power is to be measured in terms of the firm’s (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price 

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Last Answer :  by adding a margin to the average cost

In the long-run equilibrium, a competitive firm earns (1) Super-normal profit (2) Profits equal to other firms (3) Normal profit (4) No profit

Description : In the long-run equilibrium, a competitive firm earns (1) Super-normal profit (2) Profits equal to other firms (3) Normal profit (4) No profit

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A firm that makes profit in excess of normal profit is earning (a) Economic profit ; (b) Costing profit ; (c) Normal profit ; (d) Super normal profit

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Last Answer : ; (d) Super normal profit

Malthusian theory of population explored the relationship between - (1) food supply and technology (2) food supply and population growth (3) population growth and development (4) optimum growth and resources

Description : Malthusian theory of population explored the relationship between - (1) food supply and technology (2) food supply and population growth (3) population growth and development (4) optimum growth and resources

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What is the optimum spacing required for planting onion seedlings during Rabi season? a. 25*25 cm B. 20*20 cm C. 5*5 cm D. 10*10 cm

Description : What is the optimum spacing required for planting onion seedlings during Rabi season? a. 25*25 cm B. 20*20 cm C. 5*5 cm D. 10*10 cm

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What is the optimum pH range for the cultivation of onion? a. 3.2-4.0 b. 5.8-6.5 c. 4.2-5.0 d. 8.9-10.6

Description : What is the optimum pH range for the cultivation of onion? a. 3.2-4.0 b. 5.8-6.5 c. 4.2-5.0 d. 8.9-10.6

Last Answer : b. 5.8-6.5

What is the optimum temperature requirement for Germination in rice? a. 25-30 o C b. 30-35 o C c. 20-35 o C d. 15-20 o C

Description : What is the optimum temperature requirement for Germination in rice? a. 25-30 o C b. 30-35 o C c. 20-35 o C d. 15-20 o C

Last Answer : c. 20-35 o C

Which is the optimum PH for nitrification? (Agriculture MCQ) a. 8.5 b. 9.5 c. 10 d. 7.5

Description : Which is the optimum PH for nitrification? (Agriculture MCQ) a. 8.5 b. 9.5 c. 10 d. 7.5

Last Answer : a. 8.5

What is the optimum pH range for the cultivation of onion? a. 3.2-4.0 b. 5.8-6.5 c. 4.2-5.0 d. 8.9-10.6

Description : What is the optimum pH range for the cultivation of onion? a. 3.2-4.0 b. 5.8-6.5 c. 4.2-5.0 d. 8.9-10.6

Last Answer : b. 5.8-6.5

What is the optimum temperature requirement for Germination in rice? a. 25-30 o C b. 30-35 o C c. 20-35 o C d. 15-20 o C

Description : What is the optimum temperature requirement for Germination in rice? a. 25-30 o C b. 30-35 o C c. 20-35 o C d. 15-20 o C

Last Answer : c. 20-35 o C

Which is the optimum PH for nitrification? (Agriculture MCQ) a. 8.5 b. 9.5 c. 10 d. 7.5

Description : Which is the optimum PH for nitrification? (Agriculture MCQ) a. 8.5 b. 9.5 c. 10 d. 7.5

Last Answer : a. 8.5

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Description : Formula to determine optimum population as given by Dalton is (a) M = (A – O) /O (b) M = (A + O) /O (c) M = (O – A) /A (d) M = (O + A) /A Where, M=Deviation from optimum, A=Actual population, O=Optimum population

Last Answer : (a) M = (A – O) /O

A tariff that maximises the difference between the terms of trade gain and the dead weight loss is called (a) Retaliatory tariff (b) Optimum tariff (c) Countervailing tariff (d) Double-column tari

Description : A tariff that maximises the difference between the terms of trade gain and the dead weight loss is called (a) Retaliatory tariff (b) Optimum tariff (c) Countervailing tariff (d) Double-column tari

Last Answer : Optimum tariff

Keynesian theory of investment is known as ----- (a) Marginal Efficiency of Capital Theory. (b) Marginal Efficiency of Investment Theory. © Optimum Stock of Capital Theory. (d) Actual Stock of Capital Theory.

Description : Keynesian theory of investment is known as ----- (a) Marginal Efficiency of Capital Theory. (b) Marginal Efficiency of Investment Theory. © Optimum Stock of Capital Theory. (d) Actual Stock of Capital Theory.

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Malthusian theory of population explored the relationship between (1) food supply and techno-logy (2) food supply and popula-tion growth (3) population growth and development (4) optimum growth and resources

Description : Malthusian theory of population explored the relationship between (1) food supply and techno-logy (2) food supply and popula-tion growth (3) population growth and development (4) optimum growth and resources

Last Answer :  food supply and popula-tion growth

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Description : Optimum economic pipe diameter for fluid is determined by the (A) Viscosity of the fluid (B) Density of the fluid (C) Total cost considerations (pumping cost plus fixed cost of the pipe) (D) None of these

Last Answer : (C) Total cost considerations (pumping cost plus fixed cost of the pipe)

In inventory control theory, the economic order quantity (EOQ) is the (A) Lot size corresponding to break even analysis (B) Average level of inventory (C) Optimum lot size (D) None of these

Description : In inventory control theory, the economic order quantity (EOQ) is the (A) Lot size corresponding to break even analysis (B) Average level of inventory (C) Optimum lot size (D) None of these

Last Answer : (C) Optimum lot size

What is the maximum limit of remuneration for a whole time manager in a company ? (A) 3% of net annual profit (B) 5% of net annual profit (C) 7% of net annual profit (D) None of the above

Description : What is the maximum limit of remuneration for a whole time manager in a company ? (A) 3% of net annual profit (B) 5% of net annual profit (C) 7% of net annual profit (D) None of the above

Last Answer : Answer: 5% of net annual profit

At "Break-even point", (1) the industry is in equilibrium in the long run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point

Description : At "Break-even point", (1) the industry is in equilibrium in the long run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point

Last Answer : (4) the firm is at zero-profit point Explanation: The break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even." For businesses, reaching the break-even point is the first major step towards profitability.

Minimum Support Price is announced by the government to provide : (a) incentives to farmers for raising production (b) incentives to traders to earn maximum profit from farmers (c) incentives to moneylenders to lend maximum to farmers (d) none of the above

Description : Minimum Support Price is announced by the government to provide : (a) incentives to farmers for raising production (b) incentives to traders to earn maximum profit from farmers (c) incentives to moneylenders to lend maximum to farmers (d) none of the above

Last Answer : (a) incentives to farmers for raising production

A monopolist is able to maximise his profit when (a) his output is maximum (b) he charges higher prices (c) his average cost is minimum (d) his marginal cost is equal to marginal revenue

Description : A monopolist is able to maximise his profit when (a) his output is maximum (b) he charges higher prices (c) his average cost is minimum (d) his marginal cost is equal to marginal revenue

Last Answer : (d) his marginal cost is equal to marginal revenue

At “Break-even point”, (1) the industry is in equilibrium in the long-run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point

Description : At “Break-even point”, (1) the industry is in equilibrium in the long-run. (2) the producers suffers the minimum losses (3) the seller earns maximum profit (4) the firm is at zero-profit point 

Last Answer : the firm is at zero-profit point

The vertical section of soil showing the various layers from surface to unaffected parent material is known as — a. Horizon b. Soil profile c. Pedon d. None of these

Description : The vertical section of soil showing the various layers from surface to unaffected parent material is known as — a. Horizon b. Soil profile c. Pedon d. None of these

Last Answer : b. Soil profile