Plant and machinery are (1) Producers’ goods (2) Consumers’ goods (3) Distributors’ goods (4) Free goods

Plant and machinery are (1) Producers’ goods (2) Consumers’ goods (3) Distributors’ goods (4) Free goods
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Producers’ goods
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Plant arid machinery are - (1) Producers' goods (2) Consumers' goods (3) Distributors' goods (4) Free goods

Description : Plant arid machinery are - (1) Producers' goods (2) Consumers' goods (3) Distributors' goods (4) Free goods

Last Answer : (1) Producers' goods Explanation: Plant and machinery are Producers' goods. Together with stocks and work in progress, these goods are collectively termed 'Capital'.

What are Capital goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumer goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Description : What are Capital goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumer goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Last Answer : : b) Goods such as tools, machinery, etc which are used to create final consumer goods

What are consumption goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumption goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Description : What are consumption goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumption goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above

Last Answer : : c) Goods and services that are consumed fully when purchased by the consumers

What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.

What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods 

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc. 

A refrigerator operating in a chemist's shop is an example of - (1) free good (2) final good (3) producers good (4) consumer's good

Description : A refrigerator operating in a chemist's shop is an example of - (1) free good (2) final good (3) producers good (4) consumer's good

Last Answer : (2) final good Explanation: Final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; the ... tires sold to the car manufacturer are not; they are intermediate goods used to make the final good.

A refrigerator operating in a chemist’s shop is an example of (1) free good (2) final good (3) producers good (4) consumer’s good

Description : A refrigerator operating in a chemist’s shop is an example of (1) free good (2) final good (3) producers good (4) consumer’s good

Last Answer : final good

Which of the following is not an investment expenditure in goods and services? (1) Expansion of the main plant of a company (2) Purchase of a house (3) Purchase of machinery (4) An increase in business in ventories

Description : Which of the following is not an investment expenditure in goods and services? (1) Expansion of the main plant of a company (2) Purchase of a house (3) Purchase of machinery (4) An increase in business in ventories

Last Answer : (2) Purchase of a house Explanation: Investment expenditure refers to the expenditure incurred either by an Individual or a firm or the government for the creation of new capital assets like ... purchase of house cannot be considered as investment expenditure as it may be for personal use.

Which of the following is not an investment expenditure in goods and services? (1) Expansion of the main plant of a company (2) Purchase of a house (3) Purchase of machinery (4) An increase in business inventories

Description : Which of the following is not an investment expenditure in goods and services? (1) Expansion of the main plant of a company (2) Purchase of a house (3) Purchase of machinery (4) An increase in business inventories

Last Answer :  Purchase of a house

The primary purpose of a broker is to1. take title to a producer's goods before selling them to retailers or consumers 2. sell directly to the final consumer 3. supply products in the food industry by developing permanent, trusting relationships with buyers 4. sell delivery to producers 5. bring buyers and sellers together

Description : The primary purpose of a broker is to 1. take title to a producer's goods before selling them to retailers or consumers 2. sell directly to the final consumer 3. supply products in ... , trusting relationships with buyers 4. sell delivery to producers 5. bring buyers and sellers together

Last Answer : bring buyers and sellers together

A distribution channel moves goods and services from producers to consumers. It overcomes the major time, place, and ______________ gaps that separate goods and services from those who would use them. A. possession B. profit C. image D. psychological

Description : A distribution channel moves goods and services from producers to consumers. It overcomes the major time, place, and ______________ gaps that separate goods and services from those who would use them. A. possession B. profit C. image D. psychological

Last Answer : A. possession

The primary purpose of a broker is to A)take title to a producer's goods before selling them to retailers or consumers. B)sell directly to the final consumer. C)supply products in the food industry by developing permanent, trusting relationships with buyers. D)sell directly to producers. E)bring buyers and sellers together.

Description : The primary purpose of a broker is to A)take title to a producer's goods before selling them to retailers or consumers. B)sell directly to the final consumer. C)supply products in ... permanent, trusting relationships with buyers. D)sell directly to producers. E)bring buyers and sellers together.

Last Answer : E)bring buyers and sellers together.

Generally industrial buyers prefer to deal with: A)manufacturers' agents. B)producers. C)industrial distributors. D)wholesalers.

Description : Generally industrial buyers prefer to deal with: A)manufacturers' agents. B)producers. C)industrial distributors. D)wholesalers.

Last Answer : B)producers.

The incidence of sales tax falls on - (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers

Description : The incidence of sales tax falls on - (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers

Last Answer : (1) Consumers Explanation: In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to "fall" upon the group ... where the revenue is collected, but on the price elasticity of demand and price elasticity of supply.

The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus

Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer's Surplus (2) Producer's Surplus (3) Landlord's Surplus (4) Worker's Surplus

Last Answer : (1) Consumer's Surplus Explanation: Consumer surplus is the difference between the maximum price a consumer is willing to pay and the actual price they do pay. If a consumer would be willing to pay ... price, then they are getting more benefit from the purchased product than they spent to buy it.

The excess of price a person is to pay rather than forego the consumption of the commodity is called - (1) Price (2) Profit (3) Producers' surplus (4) Consumer's surplus

Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called - (1) Price (2) Profit (3) Producers' surplus (4) Consumer's surplus

Last Answer : (3) Producers' surplus Explanation: Producer Surplus' is an economic measure of the difference between the amount that a producer of a good receives and the minimum amount that he or she would be ... or surplus amount, is the benefit that the producer receives for selling the good in the market.

The incidence of sales tax falls on (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers

Description : The incidence of sales tax falls on (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers 

Last Answer : Consumers

The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus

Description : The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called (1) Consumer’s Surplus (2) Producer’s Surplus (3) Landlord’s Surplus (4) Worker’s Surplus 

Last Answer : Consumer’s Surplus

The excess of price a person is to pay rather than forego the consumption of the commodity is called (1) Price (2) Profit (3) Producers’ surplus (4) Consumer’s surplus

Description : The excess of price a person is to pay rather than forego the consumption of the commodity is called (1) Price (2) Profit (3) Producers’ surplus (4) Consumer’s surplus

Last Answer : Producers’ surplus

Depreciation is loss in value of _______. (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Description : Depreciation is loss in value of _______. (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Last Answer : (2) Machinery Explanation: The term depreciation represents loss or diminution in the value of an asset consequent upon wear and tear, obsolescence, effluxion of time or permanent fall in market value ... furniture, vehicles, plant etc. The wear and tear is general but primary cause of depreciation.

Depreciation is loss in value of ________ (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Description : Depreciation is loss in value of ________ (1) Final goods (2) Machinery (3) Capital stock (4) Stock of inventory

Last Answer : Machinery

Consumer's sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer's expenditures influence the allocation of resources. (4) consumer goods are free from government control,

Description : Consumer's sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer's expenditures influence the allocation of resources. (4) consumer goods are free from government control,

Last Answer : (1) consumers are free to spend their income as they like. Explanation: Consumer sovereignty means that buyers ultimately determine which goods and services remain in production. In unrestricted markets, ... to motivate producers. So ultimately it means how the consumers want to spend their incomes.

Consumer’s sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer’s expenditures influence the alloca tion of resources. (4) consumer goods are free from government control.

Description : Consumer’s sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer’s expenditures influence the alloca tion of resources. (4) consumer goods are free from government control.

Last Answer :  consumers are free to spend their income as they like.

The concept that under a system of free enterprise, it is consumers who decide what goods and services shall be produced and in what quantities is known as (1) Consumer Protection (2) Consumer’s Decision (3) Consumer Preference (4) Consumer’s Sovereignty

Description : The concept that under a system of free enterprise, it is consumers who decide what goods and services shall be produced and in what quantities is known as (1) Consumer Protection (2) Consumer’s Decision (3) Consumer Preference (4) Consumer’s Sovereignty

Last Answer : Consumer’s Sovereignty

are the conductors, which connect the consumer's terminals to the distribution (a) Distributors (b) Service mains (c) Feeders (d) None of the above

Description : are the conductors, which connect the consumer's terminals to the distribution (a) Distributors (b) Service mains (c) Feeders (d) None of the above

Last Answer : (b) Service mains

Large retailers such as Tesco and Marks and Spencer are MOST likely to participate in which of the following channels? A)Producer, industrial distributors, retailers, consumers B)Producer, consumers C)Producer, wholesalers, retailers, consumers D)Producer, retailers, consumers E)Producer, agents, wholesalers, retailers, consumers 8) Which of the following statements is considered to be a DISADVANTAGE of using

Description : Large retailers such as Tesco and Marks and Spencer are MOST likely to participate in which of the following channels? A)Producer, industrial distributors, retailers, consumers B)Producer, consumers C) ... , consumers 8) Which of the following statements is considered to be a DISADVANTAGE of using

Last Answer : D)Producer, retailers, consumers

are the conductors, which connect the consumer's terminals to the distribution (a) Distributors (b) Service mains (c) Feeders (d) None of the above

Description : are the conductors, which connect the consumer's terminals to the distribution (a) Distributors (b) Service mains (c) Feeders (d) None of the above

Last Answer : (b) Service mains

A Black Market is a situation where in (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available

Description : A Black Market is a situation where in (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available

Last Answer : (2) Goods are sold secretly Explanation: Black market is the market in which illegal goods are traded. Goods acquired illegally take one of two price levels: (i) they may be cheaper than legal ... defining feature of black markets is that they have to be carried out secretly as they are illegal.

The function of a government to provide goods that cannot normally be provided by market mechanisms between individual customers and producers, is known as: a) Distribution function b) Allocation function c) Stabilization d) Protection

Description : The function of a government to provide goods that cannot normally be provided by market mechanisms between individual customers and producers, is known as: a) Distribution function b) Allocation function c) Stabilization d) Protection

Last Answer : b) Allocation function

A Black Market is a situation wherein (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available (sold) only after there is a rise in prices

Description : A Black Market is a situation wherein (1) Goods are loaded by the producers (2) Goods are sold secretly (3) Goods are sold at prices higher than what is fixed by the Government (4) Goods are made available (sold) only after there is a rise in prices

Last Answer : Goods are sold secretly

What are the results from a free market system is based on the free choices of consumers and producers?

Description : What are the results from a free market system is based on the free choices of consumers and producers?

Last Answer : The free market system has a circular flow of influences

Which of the following best demonstrates the way consumers and producers influence each other in the free market system?

Description : Which of the following best demonstrates the way consumers and producers influence each other in the free market system?

Last Answer : A circular model

Consumer's surplus is the highest in the case of: (1) durable goods (2) luxuries (3) comforts (4) necessities

Description : Consumer's surplus is the highest in the case of: (1) durable goods (2) luxuries (3) comforts (4) necessities

Last Answer : (4) necessities Explanation: Consumer surplus is the difference between the price consumers would be prepared to pay and the actual market price.

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward

Description : A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward

Last Answer : (a) the price of one good changes

Consumer’s surplus is the highest in the case of: (1) durable goods (2) luxuries (3) comforts (4) necessities

Description : Consumer’s surplus is the highest in the case of: (1) durable goods (2) luxuries (3) comforts (4) necessities

Last Answer : necessities

Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.

Description : Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.

Last Answer : B. Wages paid for the erection of plant and machinery.

The upper limit of investment in plant and machinery for small-scale industries has been fixed currently at - (1) Rs. 35 lakhs (2) Rs. 45 lakhs (3) Rs. 60 lakhs (4) Rs. 1 crore

Description : The upper limit of investment in plant and machinery for small-scale industries has been fixed currently at - (1) Rs. 35 lakhs (2) Rs. 45 lakhs (3) Rs. 60 lakhs (4) Rs. 1 crore

Last Answer : (4) Rs. 1 crore Explanation: The upper limit of investment in plant and machinery for small-scale industries has been fixed at Rs. one crore.

The upper limit of investment in plant and machinery for smallscale industries has been fixed currently at (1) 35 lakhs (2) 45 lakhs (3) 60 lakhs (4) 1 crore

Description : The upper limit of investment in plant and machinery for smallscale industries has been fixed currently at (1) 35 lakhs (2) 45 lakhs (3) 60 lakhs (4) 1 crore

Last Answer : 1 crore

Who are producers and consumers? -SST 10th

Description : Who are producers and consumers? -SST 10th

Last Answer : We participate in the market both as producers and consumers. . As producers of goods and services, we could be working in any of the sectors like primary, secondary or tertiary. . Consumers ... purchase goods and services that they need. These are the final goods that people as consumers use.

“Globalisation and greater competition among producers has been of advantage to consumers.” -SST 10th

Description : “Globalisation and greater competition among producers has been of advantage to consumers.” -SST 10th

Last Answer : Globalisation and competition among producers, an advantage to consumers: . Globalisation and greater competition among producers, both local and foreign producers have been of advantage to consumers. . ... several products. . They enjoy much higher standards of living that was possible earlier.

Globalisation and greater competition among producers has been of advantage to consumers.' Justify the statement with examples. -SST 10th

Description : Globalisation and greater competition among producers has been of advantage to consumers.' Justify the statement with examples. -SST 10th

Last Answer : Globalisation and greater competition within the market have been of advantage to the consumers, particularly the well-off sections in the urban areas. 1. The consumers now enjoy the improved ... the financial ability of the people, thus, contributing to the overall development of the consumers.

Globalisation and greater competition among producers has been advantageous consumers.' Support the statement with examples. -SST 10th

Description : Globalisation and greater competition among producers has been advantageous consumers.' Support the statement with examples. -SST 10th

Last Answer : Globalisation and greater competition have been advantageous to consumers: 1. The well-off sections of the society have access to highest international brands. For example, a person in India ... using regular clothes can get specialized like sports gear easily because of companies like Reebok.

Globalization has been advantageous to consumers as well as to producers.' Support the statement with suitable examples. -SST 10th

Description : Globalization has been advantageous to consumers as well as to producers.' Support the statement with suitable examples. -SST 10th

Last Answer : Globalisation has been advantageous for consumers and producers: 1. Consumers now enjoy numerous choices as well as better quality since it is now an international market. 2. Competition ... the Indian companies have themselves become MNCs themselves like Tata Motors, Infosys, and Ranbaxy.

‘Globalisation and competition among producers have been of advantage to the consumers.’ Give arguments in support of this statement. -SST 10th

Description : ‘Globalisation and competition among producers have been of advantage to the consumers.’ Give arguments in support of this statement. -SST 10th

Last Answer : (i) More choice for consumers : Globalisation and competition among producers has enabled the consumer to have a wide range of choice available in market. For example, ... improvement in information and communication technology like computers, internet, telephone including mobile phones etc.

“Globalisation and competition among producers has been of advantage to the consumers.” Give arguments in support of this statement. -SST 10th

Description : “Globalisation and competition among producers has been of advantage to the consumers.” Give arguments in support of this statement. -SST 10th

Last Answer : (i) There is greater choice available to the consumers in goods. (ii) The quality of goods has been improved. (iii) Prices of goods are lower. (iv) Consumers are now able to enjoy a better life.

How do we participate in the market as producers and consumers? Explain with three examples. -SST 10th

Description : How do we participate in the market as producers and consumers? Explain with three examples. -SST 10th

Last Answer : We participate in the market both as producers and consumers. (i) As producers of goods and services we could be working in any of the sectors such as agriculture, industry, or services. (ii) Consumers ... for a timely loan. They could force small farmers to sell their land to pay back the loan.

Globalisation and greater competition among producers has been of advantage to consumers.” -SST 10th

Description : Globalisation and greater competition among producers has been of advantage to consumers.” -SST 10th

Last Answer : (i) Globalisation and competition among producers has enabled the consumer to have a wide range of choice available in market. For example, Chinese mobiles and Indian mobiles both ... in information and communication technology like computers, internet, telephone including mobile phones, etc.

“Globalisation and greater competition among producers has been advantageous to consumers.” -SST 10th

Description : “Globalisation and greater competition among producers has been advantageous to consumers.” -SST 10th

Last Answer : ' Globalisation and greater competition among producers has been advantageous to consumers: (i) Globalization and greater competition among producers both local and foreign has been of advantageous to consumers, ... in our markets is a recent phenomenon and has brought changes in lives of people.

‘‘Globalisation has been advantageous to consumers as well as to producers.’’ -SST 10th

Description : ‘‘Globalisation has been advantageous to consumers as well as to producers.’’ -SST 10th

Last Answer : Globalisation has been advantageous to producers in the following ways: (i) The producers now have access to the international markets. (ii) Globalisation has also enabled free movement of capital, i.e. ... MNCs as they have now larger choice in the goods that are available to them in the market.