Description : Sellers market denotes a situation where : (1) commodities are available at competitive rates (2) demand exceeds supply (3) supply exceeds demand (4) supply and demand are evenly balanced
Last Answer : (2) demand exceeds supply Explanation: Seller's market is a market which has more buyers than sellers. High prices result from this excess of demand over supply. The opposite of the seller's market is the buyer's market, where supply greatly exceeds demand.
Description : Sellers market denotes a situation where (1) Commodities are available at competitive rates (2) Demand exceeds supply (3) Supply exceeds demand (4) Supply and demand are equal
Last Answer : (2) Demand exceeds supply
Description : In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and ... of various commodities produced (4) the Government controls the allocation of all the factors of production
Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market
Description : In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market
Last Answer : (1) Demand and Supply Explanation: Capitalism generally refers to economic system in which the means of production are largely or entirely privately owned and operated for a profit, structured on the ... and services lead to higher prices and lower demand for certain goods lead to lower prices.
Last Answer : Demand and Supply
Description : In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost
Last Answer : (4) marginal revenue with marginal cost Explanation: A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost ... marginal cost curve. The marginal cost curve is thus the perfectly competitive firm's supply curve.
Description : In equilibrium, a perfectly competitive firm will equate (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost
Last Answer : marginal revenue with marginal cost
Description : A market in which there are only 2 sellers of a good is known as: a) monopoly b) monopsony c) duopoly d) perfectly competitive View Answer / Hide Answer
Last Answer : c) duopoly
Description : Cross demand expresses the functional relationship between - (1) demand and prices of related commodities (2) demand and income (3) demand and prices (4) demand and supply (4)
Last Answer : (1) demand and prices of related commodities Explanation: Other things being constant, cross demand expresses the relation between demand for good A' due to change in the price of its related good 'B' ... that at different prices of good B' what different quantities of good A' will be demanded.
Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand
Last Answer : (3) low elasticity of demand Explanation: The Ramsey rule states that commodities with low elasticities of demand should be taxed at higher rates than commodities with high elasticities of demand. ... the Ramsey rule may result in a regressive taxation scheme society may view as inequitable.
Description : Cross demand expresses the functional relationship between (1) demand and prices of related commodities. (2) demand and income. (3) demand and prices. (4) demand and supply,
Last Answer : demand and prices of related commodities.
Last Answer : low elasticity of demand
Description : When aggregate supply exceeds aggregate demand - (1) unemployment falls (2) prices rise (3) inventories accumulate (4) unemployment develops
Last Answer : (3) inventories accumulate Explanation: Deflation sets in when aggregate supply exceeds aggregate demand. Recession sets in. This will lead to a buildup in stocks (inventories) and this sends a signal to ... Either way -there is a tendency for output to move closer to the current level of demand.
Description : When aggregate supply exceeds aggregate demand (1) unemployment falls (2) prices rise (3) inventories accumulate (4) unemployment develops
Last Answer : inventories accumulate
Description : Bilateral monopoly refers to the market situation of - (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : (4) one seller and one buyer Explanation: In a bilateral monopoly there is both a monopoly (a single seller) and monopsony (a single buyer) in the same market. The one supplier tends to act ... buyer looks towards paying a price that is as low as possible. Since both parties have conflicting goals,
Description : Bilateral monopoly refers to the market situation of (1) two sellers, two buyers (2) one seller and two buyers (3) two sellers and one buyer (4) one seller and one buyer
Last Answer : one seller and one buyer
Description : What type of competitive structure exists when a few sellers control a large portion of the supply of a product ? 1. Monopoly 2. Oligopoly 3. Mixed competition 4. Perfect competition 5. None of these
Last Answer : Oligopoly
Description : What type of competitive structure exists when a few sellers control a large portion of the supply of a product? A)Monopoly B)Oligopoly C)Monopolistic Competition D)Mixed Competition E)Perfect Competition
Last Answer : B)Oligopoly
Description : Which of the following is/are the characteristic of a monopolistically competitive market (a) No restriction on exit and entry ; (b) Many sellers ; (c) Product differentiation ; (d) All the three
Last Answer : ; (d) All the three
Description : Cost push inflation arises due to (a) Persistent rise in factor cost ; (b) Mismatch between demand and supply of commodities (c) Combine phenomena of demand pull and cost-push inflation. ; (d) Increase in price of precious metal
Last Answer : (a) Persistent rise in factor cost ;
Description : Demand pull inflation rises due to (a) Persistent rise in factor cost ; (b) Mismatch between demand and supply of commodities (c) Combine phenomena of demand pull and cost-push inflation. ; (d) Increase in Price of precious metal
Last Answer : ; (b) Mismatch between demand and supply of commodities
Description : Price elasticity of demand shows the relationship between demand for a commodity and (a) price of other commodities (b) price of that commodity © tastes and preferences of the consumer (d) income of the consumer
Last Answer : (b) price of that commodity
Description : Answer: b Metabolic response to injury results in increased energy expenditure. If energy intake is less than expenditure, oxidation of body fat stores and erosion of lean body mass will occur ... requirements, caloric requirements should be distributed at a ratio of 70% as glucose and 30% as fat
Last Answer : Which of the following statement(s) is/are true concerning body fuel reserves? a. The largest fuel reserve in the body is skeletal muscle b. Fat provides about 9 calories/gram c. Free glucose and glycogen stores are a trivial fuel reserve d. Body protein is a valuable storage form of energy
Description : Tha Law of Demand is based on - (1) Manufacturer's preference (2) Seller's preference (3) Supplier's preference (4) Consumer's preference
Last Answer : (4) Consumer's preference Explanation: The Law of Demand states that, all else being equal, as the price of a product increases, quantily demanded lowers; likewise, as the price ... services to purchase. Each consumer will purchase different things because individual preferences and incomes differ.
Description : Tha Law of Demand is based on (1) Manufacturer’s preference (2) Seller’s preference (3) Supplier’s preference (4) Consumer’s preference
Last Answer : Consumer’s preference
Description : When there is one buyer and many sellers then that situation is called - (1) Monopoly (2) Single buyer right (3) Down right (4) Double buyers right
Last Answer : (2) Single buyer right Explanation: In economics, a monopsony (mono: single) is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, ... of a monopsony. Another possible monopsony could develop in the exchange between the food industry and farmers.
Description : Bilateral monopoly situation is (1) when there are only two sellers of a product (2) when there are only two buyers of a product (3) when there is only one buyer and one seller of a product (4) when there are two buyers and two sellers of a product
Last Answer : (3) when there is only one buyer and one seller of a product Explanation: Bilateral monopoly is a market consisting of a single seller (monopolist) and a single buyer (monopsonist).For example, ... . The equilibrium in such a market cannot be determined by the traditional tools of demand and supply.
Last Answer : when there is only one buyer and one seller of a product
Description : When there is one buyer and many sellers then that situation is called (1) Monopoly (2) Single buyer right (3) Down right (4) Double buyers right
Last Answer : Single buyer right
Description : What is selling cost? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement
Last Answer : (2) Cost incurred on promoting the sale of the product Explanation: Selling cost is total cost of marketing, advertising, and selling a product. It differs from the production cost which is incurred to produce goods.
Description : The National Mission for Sustainable Agriculture (NMSA) aims at which of the following? a. Enhancing agricultural productivity, protection of resources such as land, water, biodiversity and ... mechanism. d. Providing Irrigation benefits to the farmers to ensure early completion of projects.
Last Answer : a. Enhancing agricultural productivity, protection of resources such as land, water, biodiversity and genetic resources by developing strategies to make agriculture more resilient to climate change.
Description : What is selling cost ? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement
Last Answer : Cost incurred on promoting the sale of the product
Description : How do I balance a region's water plan when demand exceeds supply?
Last Answer : I'm answering as a layman, but here's a thought or two: 1. Doesn't the law of supply and demand presuppose a free market and wouldn't a tax-subsidized and monopolistic utility bend that law? ... that would mean that supply equals a daily allottment of water that does not exceed the daily refresh.
Description : What is aggregate supply exceeds aggregate demand what is likely to result?
Last Answer : Need answer
Description : When a segment’s product supply exceeds demand, how much appeal, to the customer, will a product priced $1 above or below the segment price range lose? a. 5% b. 10% c. 15% d. 20% e. 0%
Last Answer : d. 20%
Description : A market situation in which there are only a few sellers & each seller can influence its price output policy is called 1. Oligopoly 2. Monopoly 3. Monopolistic 4. Duopoly 5. None of these
Description : The market equilibrium for a commodity is determined by : (1) The market supply of the commodity. (2) The balancing of the forces of demand and supply for the commodity (3) (3) The intervention of the Government. (4) (4) The market demand of the commodity.
Last Answer : (2) The balancing of the forces of demand and supply for the commodity Explanation: Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity ... equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.
Description : Full convertibility of a rupeee means - (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply
Last Answer : (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply Explanation: The full convertibility of the Indian currency means ... governmental control. Presently, the issue of capital account convertibility is in the discussion stage.
Description : Say's Law of Market holds that - (1) supply is not equal to demand (2) supply creates its own demand (3) demand creates its own supply (4) supply is greater than demand
Last Answer : (2) supply creates its own demand Explanation: Say's law, or the law of market, is an economic principle of classical economics named after the French businessman and economist Jean-Baptiste Say ... General Theory of Employment, Interest and Money (1936) and a central tenet of Keynesian economics.
Description : Under flexible exchange rate system, the exchange rate is determined by - (1) the Central Bank of the country (2) the forces of demand and supply in the foreign exchange market (3) the price of gold (4) the purchasing power of currencies
Last Answer : (2) the forces of demand and supply in the foreign exchange market Explanation: A floating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to ... by the foreign-exchange market through supply and demand for that particular currency relative to other currencies.
Description : When the exchange rate is determined by the market forces of demand and supply, it is known as : a) Real exchange rate b) Nominal exchange rate c) Superfluous exchange rate d) Floating exchange rate
Last Answer : d) Floating exchange rate
Last Answer : a) Real exchange rate
Description : Macroeconomics is a study of economics that deals with which 4 major factors: a) households, firms, government, and demand-supply b) households, firms, government and external sector c) firms, government, free-market, and regulations d) none of the above
Last Answer : b) households, firms, government and external sector
Description : Under flexible exchange rate system, the exchange rate is determined by (1) the Central Bank of the country (2) the forces of demand and supply in the foreign exchange market (3) the price of gold (4) the purchasing power of currencies
Last Answer : the forces of demand and supply in the foreign exchange market
Description : Full convertibility of a rupeee means (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply
Last Answer : determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply
Description : The market equilibrium for a commodity is determined by: (1) The market supply of the commodity. (2) The balancing of the forces of demand and supply for the commodity (3) The intervention of the Government. (4) The market demand of the commodity.
Last Answer : The balancing of the forces of demand and supply for the commodity
Description : Say’s Law of Market holds that (1) supply is not equal to demand (2) supply creates its own demand (3) demand creates its own supply (4) supply is greater than demand
Last Answer : supply creates its own demand
Description : Buyers and Sellers will have perfect knowledge of market conditions under - (1) Duopoly (2) Perfect competition (3) Monopolistic competition (4) Oligopoly
Last Answer : (1) Duopoly Explanation: Complete market information is one of the main features of Perfect Competition. This condition implies close contact between buyers and sellers. Both of them possess complete knowledge ... being bought and sold, and the prices at which others are prepared to buy or sell.
Description : Number of sellers in the monopoly market structure is - (1) few (2) large (3) one (4) two
Last Answer : (3) one Explanation: Monopoly refers to a market in which there is only one supplier and no other firms are able to enter.
Description : In a market system, sellers act in ____________ interest , but this leads to behaviors in ____________ interest. a. self; self b. self; society’s c. society’s; society’s d. society’s; self
Last Answer : b. self; society’s