Basic infrastructure facilities in Economics are known as : (1) Human capital (2) Physical capital (3) Social overheads capital (4) Working capital

Basic infrastructure facilities in Economics are known as : (1) Human capital (2) Physical capital (3) Social overheads capital (4) Working capital
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(3) Social overheads capital Explanation: Social overheads capital is the capital spent on social infrastructure, such as schools, universities, hospitals, libraries. They are capital goods of types which are available to anybody, hence social; and are not tightly linked to any particular part of production, hence overhead. Because of their broad availability they often have to be provided by the government. Examples of social overhead capital include roads, schools, hospitals, and public parks.
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Basic infrastructure facilities in Economics are known as : (1) Human capital (2) Physical capital (3) Social overheads capital (4) Working capital

Description : Basic infrastructure facilities in Economics are known as : (1) Human capital (2) Physical capital (3) Social overheads capital (4) Working capital

Last Answer :  Social overheads capital

Knowledge, technical skill, education etc. in economics, are regarded as - (1) social-overhead capital (2) human capital (3) tangible physical capital (4) working capital

Description : Knowledge, technical skill, education etc. in economics, are regarded as - (1) social-overhead capital (2) human capital (3) tangible physical capital (4) working capital

Last Answer : (2) human capital Explanation: Human capital is the stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so ... biological, cultural and psychological complexity as they interact in explicit and/or economic transactions.

Knowledge, technical skill, education etc. in economics, are regarded as (1) social-overhead capital (2) human capital (3) tangible physical capital (4) working capital

Description : Knowledge, technical skill, education etc. in economics, are regarded as (1) social-overhead capital (2) human capital (3) tangible physical capital (4) working capital

Last Answer : human capital

What are the main components of basic social infrastructure of an economy? (1) Education, Industry and Agriculture (2) Education, Health and Civil amenities (3) Transport, Health and Banks (4) Industry, Trade and Transport

Description : What are the main components of basic social infrastructure of an economy? (1) Education, Industry and Agriculture (2) Education, Health and Civil amenities (3) Transport, Health and Banks (4) Industry, Trade and Transport

Last Answer : (2) Education, Health and Civil amenities Explanation: Social infrastructure refers to the facilities and mechanisms that ensure education, health care, community development, income distribution, ... business travel and tourism infrastructure, including both man-made and natural attractions, etc.

What are the main components of basic social infrastructure of an economy ? (1) Education, Industry and Agriculture (2) Education, Health and Civil amenities (3) Transport, Health and Banks (4) Industry, Trade and Transport

Description : What are the main components of basic social infrastructure of an economy ? (1) Education, Industry and Agriculture (2) Education, Health and Civil amenities (3) Transport, Health and Banks (4) Industry, Trade and Transport

Last Answer : Education, Health and Civil amenities

The principle of maximum social advantage is the basic principle of - (1) Micro Economics (2) Macro Economics (3) Fiscal Economics (4) Environmental Economics

Description : The principle of maximum social advantage is the basic principle of - (1) Micro Economics (2) Macro Economics (3) Fiscal Economics (4) Environmental Economics

Last Answer : (3) Fiscal Economics Explanation: The 'Principle of Maximum Social Advantage', introduced by British economist Hugh Dalton, is the fundamental principle of Public Finance which implies that all ... problems related to government taxation and spending, it comes under the domain of fiscal economics.

The principle of maximum social advantage is the basic principle of (1) Micro Economics (2) Macro Economics (3) Fiscal Economics (4) Environmental Economics

Description : The principle of maximum social advantage is the basic principle of (1) Micro Economics (2) Macro Economics (3) Fiscal Economics (4) Environmental Economics

Last Answer : Fiscal Economics

Assertion (A): Kerala has low infant mortality rate. Reason (R): It has adequate provisions of basic health and educational facilities. a) Both A and R are true and R is the correct explanation of A. b) Both A and R are true and R is the not correct explanation of A. c) A is correct but R is wrong. d) A is wrong but R is correct.

Description : Assertion (A): Kerala has low infant mortality rate. Reason (R): It has adequate provisions of basic health and educational facilities. a) Both A and R are true and R is the correct explanation of A. b) Both A ... explanation of A. c) A is correct but R is wrong. d) A is wrong but R is correct.

Last Answer : a) Both A and R are true and R is the correct explanation of A.

Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Description : Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

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Which among the following has the least possibility of globalisation ? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Description : Which among the following has the least possibility of globalisation ? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Last Answer : location of capital works

From a retailer's point of view, the MOST basic advantage of using a wholesaler is that the wholesaler 1. extends credit to the retailer 2. provides storage facilities to the retailer 3. can perform physical distribution activities more efficiently than the retailer 4. takes ownership of goods for the retailer 5. none of these

Description : From a retailer's point of view, the MOST basic advantage of using a wholesaler is that the wholesaler 1. extends credit to the retailer 2. provides storage facilities to the retailer 3. can ... more efficiently than the retailer 4. takes ownership of goods for the retailer 5. none of these

Last Answer : can perform physical distribution activities more efficiently than the retailer

From a retailer's point of view, the MOST basic advantage of using a wholesaler is that the wholesaler A)extends credit to the retailer. B)provides storage facilities to the retailer. C)can perform physical distribution activities more efficiently than the retailer. D)takes ownership of goods for the retailer.

Description : From a retailer's point of view, the MOST basic advantage of using a wholesaler is that the wholesaler A)extends credit to the retailer. B)provides storage facilities to the retailer ... physical distribution activities more efficiently than the retailer. D)takes ownership of goods for the retailer.

Last Answer : C)can perform physical distribution activities more efficiently than the retailer.

Which of the following is not a relevant cost in capital budgeting? A. Sunk Cost B. Opportunity cost C. Allocated overheads D. Both (a) and (c) above

Description : Which of the following is not a relevant cost in capital budgeting? A. Sunk Cost B. Opportunity cost C. Allocated overheads D. Both (a) and (c) above

Last Answer : D. Both (a) and (c) above

During September, 300 labour hours were worked for a total cost of Rs 4800. The variable overhead expenditure variance was Rs 600 (A). Overheads are assumed to be related to direct labour hours of active working. What was the standard cost per labour hour? (a) Rs 14 (b) Rs 16.50 (c) Rs 17.50

Description : During September, 300 labour hours were worked for a total cost of Rs 4800. The variable  overhead expenditure variance was Rs 600 (A). Overheads are assumed to be related to direct labour  hours of active working. What was the standard cost per labour hour? (a) Rs 14 (b) Rs 16.50 (c) Rs 17.50

Last Answer : (a) Rs 14

Which of the following is not a component of working capital? (A) Raw materials is stock (B) Finished products in stock (C) Transportation facilities (D) Semi-finished products in the process

Description : Which of the following is not a component of working capital? (A) Raw materials is stock (B) Finished products in stock (C) Transportation facilities (D) Semi-finished products in the process

Last Answer : (C) Transportation facilities

Which of the following is not a component of the working capital for a chemical process plant? (A) Product inventory (B) In-process inventory (C) Minimum cash reserve (D) Storage facilities

Description : Which of the following is not a component of the working capital for a chemical process plant? (A) Product inventory (B) In-process inventory (C) Minimum cash reserve (D) Storage facilities

Last Answer : D) Storage facilities

Fixed capital investment of a chemical plant is the total amount of money needed to supply the necessary plant and manufacturing facilities plus the working capital for operation of the facilities. Which of the following components of fixed capital investment requires minimum percentage of it? (A) Electrical installation cost (B) Equipment installation cost (C) Cost for piping (D) Equipment insulation cost

Description : Fixed capital investment of a chemical plant is the total amount of money needed to supply the necessary plant and manufacturing facilities plus the working capital for operation of the facilities. Which of ... (B) Equipment installation cost (C) Cost for piping (D) Equipment insulation cost

Last Answer : (D) Equipment insulation cost

Assertion(A): High national income leads to better human Development Index Reason(R): Good health and education facilities depends on amount of money spent by govt on these facilities. a) Both A and R are true and R is the correct explanation of A. b) Both A and R are true and R is the not correct explanation of A. c) A is correct but R is wrong. d) A is wrong but R is correct.

Description : Assertion(A): High national income leads to better human Development Index Reason(R): Good health and education facilities depends on amount of money spent by govt on these facilities. a) Both A and R are true and R is ... of A. c) A is correct but R is wrong. d) A is wrong but R is correct.

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Externality theory is the basic theory of the following branch of Economics: (1) Environomics (2) Fiscal Economics (3) International Economics (4) Macro Economics

Description : Externality theory is the basic theory of the following branch of Economics: (1) Environomics (2) Fiscal Economics (3) International Economics (4) Macro Economics

Last Answer : (1) Environomics Explanation: In economics, an externality is a cost or benefit which results from an activity or transaction and which affects an otherwise uninvolved party who did not choose ... a classic case of an externality. Externality theory forms the basic theory of environmental economics.

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Externality theory is the basic theory of the following branch of Economics: (1) Environomics (2) Fiscal Economics (3) International Economics (4) Macro Economics

Description : Externality theory is the basic theory of the following branch of Economics: (1) Environomics (2) Fiscal Economics (3) International Economics (4) Macro Economics 

Last Answer : Environomics

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Description : The basic problem studied in Macro - Economics is (1) production of income (2) usage of income (3) flow of income (4) distribution of income

Last Answer :  production of income

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Last Answer : (1) satisfy human wants Explanation: According to Adam Smith, consumption is the sole end and purpose of all production. The goal of production is the satisfaction of human desire. All the processes, by which human labor creates goods and services, bring them to the ultimate consumer.

The basic object of all production is to (1) satisfy human wants (2) provide employment (3) make profits (4) increase physical output

Description : The basic object of all production is to (1) satisfy human wants (2) provide employment (3) make profits (4) increase physical output

Last Answer : satisfy human wants

Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

Description : Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

Last Answer : (2) Capital Explanation: Some economists have classified factors into two categories, land and labour (or nature and man) on the ground that they are the only original or primary factors. ... . However, other economists include all man-made instruments for production in the category of Capital.

What is the term in economics for the consumption of fixed capital? a) Investment b) Value added c) Production flow d) Depreciation

Description : What is the term in economics for the consumption of fixed capital? a) Investment b) Value added c) Production flow d) Depreciation

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Economics classifies the manmade instrument of production as : (1) organization (2) capital (3) equipment (4) labour

Description : Economics classifies the manmade instrument of production as : (1) organization (2) capital (3) equipment (4) labour

Last Answer : capital

9. Skills that embodied in a person are called a. Human capital b. Embodied skills c. Physical capital d. Experience skills

Description : 9. Skills that embodied in a person are called a. Human capital b. Embodied skills c. Physical capital d. Experience skills

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One of the following is 'Labour' in Economics. (1) A Musician performing for a benefit fund (2) A Painter working for his own pleasure (3) Reading a book as a hobby (4) A Mother teaching her own son

Description : One of the following is 'Labour' in Economics. (1) A Musician performing for a benefit fund (2) A Painter working for his own pleasure (3) Reading a book as a hobby (4) A Mother teaching her own son

Last Answer : (1) A Musician performing for a benefit fund Explanation: Labour includes both physical and mental work undertaken for some monetary reward. In this way, workers working in factories, services of ... not undertaken for getting income, but simply to attain pleasure or happiness, is not labour.

One of the following is ‘Labour’ in Economics. (1) A Musician performing for a benefit fund (2) A Painter working for his own pleasure (3) Reading a book as a hobby (4) A Mother teaching her own son

Description : One of the following is ‘Labour’ in Economics. (1) A Musician performing for a benefit fund (2) A Painter working for his own pleasure (3) Reading a book as a hobby (4) A Mother teaching her own son 

Last Answer : A Musician performing for a benefit fund

Explain the meaning of Physical Capital . Explain its two types with the help of suitable examples -Economics 9th

Description : Explain the meaning of Physical Capital . Explain its two types with the help of suitable examples -Economics 9th

Last Answer : The physical capital is the variety of inputs required at every stage during production. Its types are as follows: Fixed Capital:Tools, machines, buildings can be used in production over many ... hand are called working capital. Unlike tools, machines and buildings,these are used up in production.

The investment by government to create socio-economic infrastructure is a. Induced investment b. Autonomous investment c. Incremental COR d. None of the above

Description : The investment by government to create socio-economic infrastructure is a. Induced investment b. Autonomous investment c. Incremental COR d. None of the above

Last Answer : b. Autonomous investment Autonomous investment is made by the government. Welfare rather than profit is the primary objective here.

Economic growth is measured by (a) Increase in national income (b) increase in infrastructure (c) increase in economic welfare (d) urbanisation

Description : Economic growth is measured by (a) Increase in national income (b) increase in infrastructure (c) increase in economic welfare (d) urbanisation

Last Answer : (a) Increase in national income

Internal costs include a) Developers salaries b) Managers and support personnel salaries c) The cost of overheads such as utilities, rent and senior managers d) Materials (such as manuals) and services such as travel e) All of the above.

Description : Internal costs include a) Developers salaries b) Managers and support personnel salaries c) The cost of overheads such as utilities, rent and senior  managers d) Materials (such as manuals) and services such as travel e) All of the above.

Last Answer : a) Developers salaries

In Project crashing, rent and overheads are treated as A.Significant Cost B.Insignificant costs C.Direct Costs D.Indirect Costs

Description : In Project crashing, rent and overheads are treated as  A.Significant Cost  B.Insignificant costs  C.Direct Costs  D.Indirect Costs

Last Answer : D.Indirect Costs

Manufacturing cost in a chemical company does not include the (A) Fixed charges (B) Plant overheads (C) Direct products cost (D) Administrative expenses

Description : Manufacturing cost in a chemical company does not include the (A) Fixed charges (B) Plant overheads (C) Direct products cost (D) Administrative expenses

Last Answer : (D) Administrative expenses

In India, are prefabricated components costlier than those of traditional cast-in-situ items that the prefabricated components replace? (A) Yes, because of heavier overheads and handling cost (B) Yes, because of the very high order of quality control for the factory made components (C) No, because of repetitive manufacture of a number of elements (D) No, because of savings in site labour

Description : In India, are prefabricated components costlier than those of traditional cast-in-situ items that the prefabricated components replace? (A) Yes, because of heavier overheads and handling cost (B) Yes, ... of repetitive manufacture of a number of elements (D) No, because of savings in site labour

Last Answer : (C) No, because of repetitive manufacture of a number of elements

In element-wise classification of overheads, which one of the following is not included — (a) Fixed overheads (b) Indirect labour (c) Indirect materials (d) Indirect expenditure.

Description : In element-wise classification of overheads, which one of the following is not included — (a) Fixed overheads (b) Indirect labour (c) Indirect materials (d) Indirect expenditure.

Last Answer : (a) Fixed overheads

A company calculates the prices of jobs by adding overheads to the prime cost and adding 30% to total costs as a profit margin. Job number Y256 was sold for Rs1690 and incurred overheads of Rs 694. What was the prime cost of the job? (a) Rs 489 (b) Rs 606 (c) Rs 996 (d) Rs 1300

Description : A company calculates the prices of jobs by adding overheads to the prime cost and adding 30% to  total costs as a profit margin. Job number Y256 was sold for Rs1690 and incurred overheads of Rs 694.  What was the prime cost of the job? (a) Rs 489 (b) Rs 606 (c) Rs 996 (d) Rs 1300

Last Answer : (b) Rs 606

Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production overheads, and non –production overheads are often added as a percentage of total production cost 3. The job costing method can be applied in costing batches (a) (1) only (b) (1) and (2) only (c) (1) and (3) only (d) (2) and (3) only

Description : Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production ... 1) and (2) only (c) (1) and (3) only (d) (2) and (3) only

Last Answer : (c) (1) and (3) only

Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50 per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25 per completed unit and Rs 2.50 per unit incomplete. If 11,750completed units were transferred out, what was the closing inventory in Process B? (a) Rs. 6562.50 (b) Rs. 12,250.00 (c) Rs. 14,437.50 (d) Rs. 25,375.00

Description : Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50  per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25  per completed unit and Rs ... 6562.50 (b) Rs. 12,250.00 (c) Rs. 14,437.50 (d) Rs. 25,375.00

Last Answer : (a) Rs 142,485

(d) Rs 1.50 Q.61. CA Co manufactures a single product and has drawn up the following flexed budget for the year. 60% 70% 80% Rs Rs Rs Direct materials 120,000 140,000 160,000 Direct labour 90,000 105,000 120,000 Production overheads 54,000 58,000 62,000 Other overheads 40,000 40,000 40,000 Total Cost 304,000 343,000 382,000 What would be the total cost in a budget that is prepared at the 77% level of activity? (a) Rs 330,300 (b) Rs 370,300 (c) Rs 373,300 (d) Rs 377,300

Description : Q.61. CA Co manufactures a single product and has drawn up the following flexed budget for the year.  60% 70% 80%  Rs Rs Rs Direct materials 120,000 140,000 160,000 Direct labour 90,000 105,000 120,000 Production ... activity? (a) Rs 330,300 (b) Rs 370,300 (c) Rs 373,300 (d) Rs 377,300

Last Answer : (b) Rs 370,300

Calculate cost of sales from the following: Net Works cost: Rs. 2,00,000 Office & Administration Overheads: Rs. 1,00,000 Opening stock of WIP: Rs. 10,000 Closing Stock of WIP: Rs. 20,000 Closing stock of finished goods: Rs. 30,000 There was no opening stock of finished goods. Selling overheads: Rs. 10,000 (a) Rs. 2,70,000 (b) Rs. 2,80,000 (c) Rs. 3,00,000 (d) Rs. 3,20,000

Description : Calculate cost of sales from the following: Net Works cost: Rs. 2,00,000 Office & Administration Overheads: Rs. 1,00,000 Opening stock of WIP: Rs. 10,000 Closing Stock of WIP: Rs. 20,000 Closing stock of finished goods: Rs. ... Rs. 2,70,000 (b) Rs. 2,80,000 (c) Rs. 3,00,000 (d) Rs. 3,20,000

Last Answer : (b) Rs. 2,80,000

Calculate the prime cost from the following information: Direct material purchased: Rs. 1,00,000 Direct material consumed: Rs. 90,000 Direct labour: Rs. 60,000 Direct expenses: Rs. 20,000 Manufacturing overheads: Rs. 30,000 (a) Rs. 1,80,000 (b) Rs. 2,00,000 (c) Rs. 1,70,000 (d) Rs. 2,10,000

Description : Calculate the prime cost from the following information: Direct material purchased: Rs. 1,00,000 Direct material consumed: Rs. 90,000 Direct labour: Rs. 60,000 Direct expenses: Rs. 20,000 Manufacturing overheads: Rs. 30,000 (a) Rs. 1,80,000 (b) Rs. 2,00,000 (c) Rs. 1,70,000 (d) Rs. 2,10,000

Last Answer : (c) Rs. 1,70,000

Marginal cost is computed as A. Prime cost + All Variable overheads B. Direct material + Direct labour + Direct Expenses + All variable overheads C. Total costs – All fixed overheads D. All of the above

Description : Marginal cost is computed as A. Prime cost + All Variable overheads B. Direct material + Direct labour + Direct Expenses + All variable overheads C. Total costs – All fixed overheads D. All of the above

Last Answer : A. Prime cost + All Variable overheads

Conversion cost is the sum total of: A. Direct material cost and direct wages cost B. Direct wages, direct expenses and factory overheads C. Indirect wages and factory overheads D. Indirect wages, direct wages & factory overheads

Description : Conversion cost is the sum total of: A. Direct material cost and direct wages cost B. Direct wages, direct expenses and factory overheads C. Indirect wages and factory overheads D. Indirect wages, direct wages & factory overheads

Last Answer : C. Indirect wages and factory overheads

Price theory is also known as - (1) Macro Economics (2) Development Economics (3) Public Economics (4) Micro Economics

Description : Price theory is also known as - (1) Macro Economics (2) Development Economics (3) Public Economics (4) Micro Economics

Last Answer : (4) Micro Economics Explanation: Price theory is also known as micro economics and is concerned with the economic behaviour of individual consumers, producers and resource owners. Prof. Leftwich ... owners to business firms with their evaluation and with their allocation among alternative uses."

In the terminology of economics and money demand, the terms M3 and M4 are also known as : a) Short money b) Long money c) Broad money d) Narrow money

Description : In the terminology of economics and money demand, the terms M3 and M4 are also known as : a) Short money b) Long money c) Broad money d) Narrow money

Last Answer : c) Broad money

) In the terminology of economics and money demand, the terms M1 and M2 are also known as : a) Short money b) Long money c) Broad money d) Narrow money

Description : ) In the terminology of economics and money demand, the terms M1 and M2 are also known as : a) Short money b) Long money c) Broad money d) Narrow money

Last Answer : d) Narrow money

Price theory is also known as (1) Macro Economics (2) Development Economics (3) Public Economics (4) Micro Economics

Description : Price theory is also known as (1) Macro Economics (2) Development Economics (3) Public Economics (4) Micro Economics 

Last Answer : Micro Economics