Description : AGMARK is a guarantee of standard : (1) quality (2) quantity (3) weight (4) size
Last Answer : quality
Description : Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality
Last Answer : (3) Determination of import duty uniformly Explanation: Non-tariff barriers to trade include import quotas, special licenses, unreasonable standards for the quality of goods, bureaucratic delays at customs, ... duty uniformly is comes under the sovereign duty of a nation. It is internal development.
Description : Which among the following is not a non-customs duty obstacle in the world trade ? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality
Last Answer : Determination of import duty uniformly
Description : What is AGMARK? (1) It is a marketing seal issued on the graded agricultural commodity (2) It stands for agricultural marketing (3) It represents agricultural management and regulation (4) None of these
Last Answer : (2) It stands for agricultural marketing Explanation: AGIVIARK is a certification mark employed on agricultural products in India, assuring that they conform to a set of standards approved by the ... Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semi-processed products.
Description : AGMARK is established in the year ? a. 1937 b. 1957 c. 1968 d. 1950
Last Answer : c. Milking stage
Description : What is ‘AGMARK’? (1) It is a marketing seal issued on the graded agricultural commodity (2) It stands for agricultural marketing (3) It represents agricultural management and regulation (4) None of these
Last Answer : It stands for agricultural marketing
Description : Do you find that the quality of the toilet paper on a standard size roll deteriorates as the quantity of sheets per roll increases?
Last Answer : I haven’t noticed. Are you assigning us another thing to which we should pay attention?
Description : Chronic hunger refers to : (a) low income (b) inadequate quantity of food (c) inadequate quality of food (d) all the above
Last Answer : (d) all the above
Description : Object of the central council is a) The right to be protected against the marketing of goods which are hazardous to life and property b) The right to informed about the quality , ... and to be assured that consumer interests will receive due consideration appropriate fora e) All the above
Last Answer : e) All the above
Description : Object of the central council is A. The right to be protected against the marketing of goods which are hazardous to life and property B. The right to informed about the quality, quantity ... to be assured that consumer interests will receive due consideration appropriate fora E. All the above
Last Answer : E. All the above
Description : Write a short note on ISI and AGMARK. -SST 10th
Last Answer : ISI: Indian Standards Institute. AGMARK: AG' is for agriculture and Mark' is for certification mark. Agmark: Food Products. ISI: Electrical Appliances and Industrial products. These are ... a product. These marks generate trust among the consumers regarding the good quality of a commodity.
Description : How does logo with letters ISI, Agmark or Hallmark help consumers ? -SST 10th
Last Answer : These logos help consumers to get assured of quality while purchasing the goods and services. These logos are the symbols of trust, confidence and goodwill of the product.
Last Answer : These are logos and certifications which help consumers get assured of quality while purchasing goods and services. The organisations that monitor and issue these certificates allow producers to use their ... it is mandatory on the part of the producers to get certified by these organisations.
Description : Central AGMARK Lab is located at
Last Answer : Ans. Nagpur
Description : AGMARK Act was passed in
Last Answer : Ans. 1937
Description : Agricultural Commodities are graded with – (1) ISI (2) Eco-products (3) AGMARK (4) Green Product
Last Answer : (3) AGMARK Explanation: AGMARK is a certification mark employed on agricultural products in India, assuring that they con-form to a set of standards approved by the Director-ate of Marketing and ... India by the Agricultural Produce (Grading and Marking) Act of 1937 (and ammended in 1986).
Description : The scheme of mobile food testing laboratory called “Food safety on wheel”has been rolled out by a.ICAR b.FSSAI c.NABARD d.AGMARK
Last Answer : b.FSSAI
Description : CGTMSE stands for _______ A. Central Government Fund Trust for Medium and Small Enterprises B. Central Government Fund Transfer fund for Medium and Small Enterprises C. Central Government Fund for Medium ... D. Credit Guarantee Fund Trust for Micro and Small Enterprises E. None of the Above
Last Answer : D. Credit Guarantee Fund Trust for Micro and Small Enterprises Explanation: Government of India and SIDBI set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The main ... so that the borrowers obtain both term loan and working capital facilities from a single agency.
Description : Does eating healthy guarantee weight loss?
Last Answer : That is correct, eating healthy does not necessarily guarantee weight loss. You have to be sure to get a good exercise routine going as well as watching how many calories you take in.
Description : "Marginal Cost" equals - (1) total cost minus total benefit for the last unit produced (2) total cost divided by total benefit for the last unit produced (3) total cost divided by quantity (4) the change in total cost divided by the change in quantity
Last Answer : (4) the change in total cost divided by the change in quantity Explanation: Marginal cost is the change in the total cost that arises when the quantity produced has an increment by unity. That is, it is ... Rs.50,002. That would mean the marginal cost-the cost of producing the next unit- was Rs.2.
Description : If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity? (1) 20000 (2) 10000 (3) 15000 (4) 12000
Last Answer : (1) 20000 Explanation: Breakeven quantity is the number of incremental units that the firm needs to sell to cover the cost of a marketing program or other type of investment. It is given by the formula: BEQ = FC / (P-VC) Where ... per unit = 30/12 = Rs. 2.5 So 20000/ (2.5-1.5) = 20000/1= Rs. 20,000
Description : )If the average total cost is Rs.54, total fixed cost is Rs.45000 and quantity produced is 2500 units, find the average variable costs (in Rs.) of the firm - (1) 24 (2) 18 (3) 36 (4) 60
Last Answer : (3) 36 Explanation: The standard method of calculating average variable cost is to divide total variable cost by the quantity, illustrated by this equation : Average Variable Cost = Total Variable Cost/ Quantity of ... , Average Total Cost = 45000/2500 = 18 So Average Variable Cost = 54 - 18= 36
Description : Capital : Output Ratio of a measures - (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output
Last Answer : (2) the amount of capital invested per unit of output Explanation: Capital output ratio is the ratio of capital used to produce an output over a period of time. This ratio has a tendency to be ... its resources in lieu of capital to boost its output; hence the resulting capital output ratio is low.
Description : Capital output ratio of a commodity measures - (1) its per unit cost of production (2) the amount of capital invested per unit of output (3) the ratio of capital depreciation to quantity of output (4) the ratio of working capital employed to quantity of output
Last Answer : (2) the amount of capital invested per unit of output Explanation: Capital Output Ratio is the ratio of capital used to produce an output over a period of time. This ratio has a tendency ... order to increase the output. When countries use their natural resources instead of capital then COR reduces.
Description : If an industry is characterized by economies of scale then - (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial
Last Answer : (2) long run unit costs of production decreases as the quantity the firm produces increases Explanation: In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion ... in unit cost as the size of a facility and the usage levels of other inputs increase.
Description : 'Law of demand' implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls
Last Answer : (3) price of the commodity rises Explanation: The Law of demand states that the quantity demanded and the price of a commodity are inversely related, other things remaining constant. That is, if ... of the commodity the price starts rising and it continues to rise till equilibrium price is reached.
Description : Name the curve which shows the quantity of products a seller wishes to sell at a given price level. (1) Demand curve (2) Cost curve (3) Supply curve (4) None of these
Last Answer : (3) Supply curve Explanation: The supply curve shows the relationship between the price of a good and the quantity supplied, holding constant the values of all other variables that affect supply. Each point on the curve shows the quantity that sellers would choose to sell at a specific price.
Description : Other things being equal, a decrease in quantity demanded of a commodity can be caused by – (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer
Last Answer : (1) a rise in the price of the commodity Explanation: In economics, the law states that, all else being equal, as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases.
Description : Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right
Last Answer : (4) The labour demand curve shifts to the right Explanation: As labour productivity increases, the production function shifts up and simultaneously the labor demand curve shifts out and right. At ... , the production function shifts up and simultaneously the labor demand curve shifts out and right.
Description : Elasticity of demand measures the responsiveness of the quantity demanded of a goods to a (1) change in the price of the goods (2) change in the price of substitutes (3) change in the price of the complements (4) change in the price of joint products
Last Answer : (1) change in the price of the goods Explanation: Price elasticity of demand is a measure of responsiveness of the quantity of a good or service demanded to changes in its price. This measure of ... good with respect to the change in the price of some other good, a complementary or substitute good.
Description : A unit price elastic demand curve will touch - (1) both price and quantity axis (2) neither price axis, nor quantity axis (3) only price axis (4) only quantity axis
Last Answer : (2) neither price axis, nor quantity axis Explanation: Unit elastic refers to an elasticity alternative in which any percentage change in price cause an equal percentage change in quantity. In other ... However, the unit price elastic demand curve does not touch either price axis or quantity axis.
Description : Under increasing returns the supply curve is - (1) positively sloped from is to right (2) negatively sloped from left to right (3) parallel to the quantity-axis (4) parallel to the price -axis
Last Answer : (1) positively sloped from is to right Explanation: Supply curve, in economics, is a graphic representation of the relationship between product price and quantity of product that a seller is willing and ... i.e as the price of a commodity increases in the market, the amount supplied increases).
Description : Extension or contraction of quantity demanded of a commodity is a result of a change in the - (1) unit price of the commodity (2) income of the consutner (3) tastes of the consumer (4) climate of the region
Last Answer : (1) unit price of the commodity Explanation: Demand for a commodity refers to the quantity of the commodity that people are willing to purchase at a specific price per unit of time, other factors ... In other words, higher the price, lower the demand and vice versa, other things remaining constant.
Description : 'Quota' is - (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports
Last Answer : (3) limit on the quantity of imports Explanation: An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of ... production of a good, service, or activity, thus "protect" domestic production by restricting foreign competition.
Description : When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will - (1) decrease (2) increase (3) remain the same (4) contract
Last Answer : (2) increase Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to ... is movement along a demand curve when a change in price causes the quantity demanded to change.
Description : The law of demand states that - (1) if the price of a good increases, the demand for that good decreases. (2) if the price of a good increases, the demand for that good increases. (3) if ... of that good decreases (4) if the price of a good increases, the quantity demanded of that good increases.
Last Answer : (3) if the price of a good increases, the quantity demanded of that good decreases. Explanation: The law of demand states that, other things remaining the same, the quantity demanded of ... demand, there is an inverse relationship between price and quantity demanded, other things remaining the same.
Description : An increase in the quantity supplied suggests - (1) a leftward shift of the supply curve (2) a movement up along the supply curve (3) a movement down along the supply curve (4) a rightward shift of the supply curve
Last Answer : (2) a movement up along the supply curve Explanation: Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of ... Producers supply more at a higher price because selling a higher quantity at an higher price increases revenue.
Description : A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to - (1) Zero (2) One (3) Less than one (4) Infinity
Last Answer : (4) Infinity Explanation: Price elasticity of demand measures consumer response to price changes. If consumers are relatively sensitive to price changes, demand is elastic: if they are relatively ... keeps changing with the price. So the coefficient of price elasticity of demand is infinity.
Description : The demand curve shows that price and quantity demanded are - (1) directly related only (2) directly proportional and also directly related (3) inversely proportional and aslo inversely related (4) inversely related only
Last Answer : (3) inversely proportional and aslo inversely related Explanation: Law of demand states that consumers buy more of a good when its price is lower and less when its price is higher. It states that ... good demanded by the consumer will be negatively correlated to the change in the price of the good.
Description : The demand curve for a Giffen good is (1) upward rising (2) downward falling (3) parallel to the quantity axis (4) parallel to the price axis
Last Answer : (1) upward rising Explanation: A Giffen good is a good whose consumption in-creases as its price increases. (For a normal good, as the price increases, consumption decreases.) Thus, the ... a price changes the income effect outweighs the substitution effect and this leads to perverse demand curve.
Description : Engel's Law states the relationship between - (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers
Last Answer : (4) quantity demanded and income of the consumers Explanation: Engel's law is an observation in economics stating that as income rises, the proportion of income spent on food falls, even if ... consumers increase their expenditures for food products (in % terms) less than their increases in income.
Description : The minimum guaranteed price at which the government offers to purchase any quantity is known as; a. Procurement price b. Minimum Support Price c. Issue Price d. Market Price.
Last Answer : b. Minimum Support Price
Description : The price elasticity of demand is the: a. percentage change in quantity demanded divided by the percentage change in price b. percentage change in price divided by the percentage change in ... in price d. percentage change in quantity demanded divided by the percentage change in quantity supplied
Last Answer : a. percentage change in quantity demanded divided by the percentage change in price
Description : The law of demand states that: a. as the quantity demanded rises, the price rises b. as the price rises, the quantity demanded rises c. as the price rises, the quantity demanded falls d. as supply rises, the demand rises
Last Answer : c. as the price rises, the quantity demanded falls
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
Description : In order to maximize profits, a monopoly company will produce that quantity at which the: a. marginal revenue equals average total cost b. price equals marginal revenue c. marginal revenue equals marginal cost d. total revenue equals total cost
Last Answer : c. marginal revenue equals marginal cost
Description : 1. Assume that there are only two goods: A and B In the base year, Quantity Price A 10 $1 B 10 $4 In the current year, Quantity Price A 20 $ 5 B 25 $20 The Consumer Price Index (CPI) for the current year is: a. 50 b. 100 c. 200 d. 500 e. 60
Last Answer : d. 500
Description : Price elasticity of demand provides A.A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function ... the firm C.A technical change in the cost of product D.Technical change in the value.
Last Answer : A.A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function.
Description : In a monopoly market, an upward shift in the market demand results in a new equilibrium with A.A higher quantity and a lower price B.A higher quantity and the same price C.A higher quantity and higher price D.All of the above
Last Answer : C.A higher quantity and higher price
Description : If other things remaining the same, the quantity of money in Fisher’s approach has (a) direct proportional relationship with price level. (b) direct proportional relationship with value of money. (c) inverse proportional relationship with price level. (d) no relation with the value of money.
Last Answer : (a) direct proportional relationship with price level.