In economic goods includes material things which………. (a) Can be transferred ; (b) Can be exchanged for one another ; (c) Both ; (d) None

In economic goods includes material things which………. (a) Can be transferred ; (b) Can be exchanged for one another ; (c) Both ; (d) None
by

1 Answer

Answer :

(c) Both ;
by

Related questions

„Transfer Payments‟ are (a) Payments made to a factor of production ; (b) Payments transferred from one sector to another; (c) Payments made for no return service ; (d) Payments made by government of one country to another

Description : „Transfer Payments‟ are (a) Payments made to a factor of production ; (b) Payments transferred from one sector to another; (c) Payments made for no return service ; (d) Payments made by government of one country to another

Last Answer : (c) Payments made for no return service ;  

Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force

Description : Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force

Last Answer : (c) Getting greatest satisfaction from available resources 

Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods – opening stock of finished goods – total expenditure on raw material – intermediate goods (b) Value added = total sales + closing stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods (c) Value added = total sales + closing stock of finished goods and semi-finished goods-opening stock of finished goods and semi finished goods-total expenditure on raw material (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

Description : Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods - opening stock of finished goods - total expenditure on raw material - intermediate ... stock of finished goods and semi finished goods - total expenditure on raw material - intermediate goods.

Last Answer : (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

If two goods are not substitutes at all for one another, the elasticity of substitution will be (a) Infinite ; (b) Zero ; (c) > 1 ; (d) < 0

Description : If two goods are not substitutes at all for one another, the elasticity of substitution will be (a) Infinite ; (b) Zero ; (c) > 1 ; (d) < 0

Last Answer : ; (b) Zero ;

If two goods are perfect substitutes for one another, the elasticity of substitution will be (a) Infinite ; (b) Zero ; (c) > 1 ; (d) < 0

Description : If two goods are perfect substitutes for one another, the elasticity of substitution will be (a) Infinite ; (b) Zero ; (c) > 1 ; (d) < 0

Last Answer : (a) Infinite ;

In economic wealth is the stock of all those material and immaterial objects which……... (a) Are transferable ; (b) Have utility ; (c) Are scarce ; (d) All the three

Description : In economic wealth is the stock of all those material and immaterial objects which……... (a) Are transferable ; (b) Have utility ; (c) Are scarce ; (d) All the three 

Last Answer : ; (d) All the three 

In the BoP statement, current account includes (i) Marchandize, invisible items (ii) Government loans from abroad (iii) Foreign direct investment. (a) (i) only ; (b) Both (i) and (ii) above ; (c) Both (i) and (iii) above ; (d) Both (ii) and (iii) above

Description : In the BoP statement, current account includes (i) Marchandize, invisible items (ii) Government loans from abroad (iii) Foreign direct investment. (a) (i) only ; (b) Both (i) and (ii) above ; (c) Both (i) and (iii) above ; (d) Both (ii) and (iii) above

Last Answer : (a) (i) only ; 

The type of unemployment that includes those persons who are unemployed for an intervening period of change over in job for better job is known as (a) Seasonal unemployment ; (b) Voluntary unemployment ; (c)Frictional unemployment (d) Technical unemployment

Description : The type of unemployment that includes those persons who are unemployed for an intervening period of change over in job for better job is known as (a) Seasonal unemployment ; (b) Voluntary unemployment ; (c)Frictional unemployment (d) Technical unemployment

Last Answer : (c)Frictional unemployment 

Personal income includes all of the following except (a) Transfer payments ; (b) Undistributed corporate profits; (c) Personal income taxes ; (d) Dividend payments

Description : Personal income includes all of the following except (a) Transfer payments ; (b) Undistributed corporate profits; (c) Personal income taxes ; (d) Dividend payments

Last Answer : (b) Undistributed corporate profits;

Stock of both man made goods as well as natural resources like capital is called – (a) National wealth ; (b) National stock ; (c) No less no gain level ; (d) All the three

Description : Stock of both man made goods as well as natural resources like capital is called – (a) National wealth ; (b) National stock ; (c) No less no gain level ; (d) All the three

Last Answer :  (b) National stock ;

Sugar and tea are …………… goods (a) Complementary ; (b) Prefect substitute of each other ; (c) Both ; (d) Unrelated

Description : Sugar and tea are …………… goods (a) Complementary ; (b) Prefect substitute of each other ; (c) Both ; (d) Unrelated

Last Answer : (a) Complementary ;

Complementary goods are those which are …………… (a) Consumed simultaneously ; (b) Close competitive ; (c) Both ; (d) Unrelated

Description : Complementary goods are those which are …………… (a) Consumed simultaneously ; (b) Close competitive ; (c) Both ; (d) Unrelated

Last Answer : (a) Consumed simultaneously ;

If demand of coffee increases by 10% with 20% decline in the price of sugar we can say that (a) Cross price elasticity of demand is negative and both the products are complementary to each other; (b) Cross price elasticity of demand is negative and the goods are substitute; (c) Cross price elasticity is positive and the products are complementary to each other ; (d) None of these

Description : If demand of coffee increases by 10% with 20% decline in the price of sugar we can say that (a) Cross price elasticity of demand is negative and both the products are complementary to each other ... price elasticity is positive and the products are complementary to each other ; (d) None of these 

Last Answer : (a) Cross price elasticity of demand is negative and both the products are complementary to each other;

If the actual rate of unemployment exceeds to natural rate of unemployment then (a) Actual output of the economy will fall below its potential ; (b) Production will increase more than potential ; (c) Consumption of goods decreases; (d) Both (a) and (c) above.

Description : If the actual rate of unemployment exceeds to natural rate of unemployment then (a) Actual output of the economy will fall below its potential ; (b) Production will increase more than potential ; (c) Consumption of goods decreases; (d) Both (a) and (c) above.

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

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

Last Answer : ; (c) Supply quantity ;

The basic assumption of an economic analysis is/ are (a) Cetris paribus ; (b) Rational behavior ; (c) Both ; (d) None

Description : The basic assumption of an economic analysis is/ are (a) Cetris paribus ; (b) Rational behavior ; (c) Both ; (d) None

Last Answer : (c) Both ;

General equilibrium analysis refers to (a) Behaviour of individual economic decision making units and individual markets in isolation; (b) Behaviour of all the individual decision making units and market viewed in totality; (c) Both ; (d) (d) none

Description : General equilibrium analysis refers to (a) Behaviour of individual economic decision making units and individual markets in isolation; (b) Behaviour of all the individual decision making units and market viewed in totality; (c) Both ; (d) (d) none

Last Answer : (b) Behaviour of all the individual decision making units and market viewed in totality; 

Which of the following function does money serve when used to purchase or sell different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power

Description : Which of the following function does money serve when used to purchase or sell different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power

Last Answer : (b) Medium of exchange ;

Which of the following function does money serve when used to measure the prices of different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power

Description : Which of the following function does money serve when used to measure the prices of different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power

Last Answer : (c) Standard of value ;

……………… is an index of price change for goods and services included in GDP (a) Price index ; (b) Sensex ; (c) GDP deflator ; (d) None

Description : ……………… is an index of price change for goods and services included in GDP (a) Price index ; (b) Sensex ; (c) GDP deflator ; (d) None

Last Answer : (c) GDP deflator ; 

Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three

Description : Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three

Last Answer : (d) All the three

GDP can be defined as sum of the market value of the……….. (a) Final manufactured goods and services ; (b) Intermediate goods (c) Goods and services exported ; (d) Sub-standard goods and discarded services

Description : GDP can be defined as sum of the market value of the……….. (a) Final manufactured goods and services ; (b) Intermediate goods (c) Goods and services exported ; (d) Sub-standard goods and discarded services 

Last Answer : (a) Final manufactured goods and services ;

GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) Sum of goods and services exported during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ; 

Which of the following is an example of an intermediate goods. (a) A Tata Indica sold by a dealer of second hand car ; (b) Steel and cement used to construct a flyover ; (c) Farming crop purchased by FCI (d) All the three

Description : Which of the following is an example of an intermediate goods. (a) A Tata Indica sold by a dealer of second hand car ; (b) Steel and cement used to construct a flyover ; (c) Farming crop purchased by FCI (d) All the three

Last Answer : (b) Steel and cement used to construct a flyover ;

GPD is the money value of final goods and serviced produced in the…………. Of a country during an accounting year (a) Domestic territory ; (b) Political territory ; (c) Specific area ; (d) FTZ area

Description : GPD is the money value of final goods and serviced produced in the…………. Of a country during an accounting year (a) Domestic territory ; (b) Political territory ; (c) Specific area ; (d) FTZ area

Last Answer : (a) Domestic territory ;

National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three

Description : National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three 

Last Answer : (b) Money value ; 

Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded

Description : Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded 

Last Answer : (a) Change in quantity demanded ;

Change in consumers tastes and preference causes – of the particular goods (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price ; (d) No effect on quantity demanded

Description : Change in consumers tastes and preference causes – of the particular goods (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price ; (d) No effect on quantity demanded

Last Answer : (b) Shift in demand curve ;

A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : (a) An increase in demand ;

A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : ; (c) Decrease in demand ;

Goods or services that are necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials

Description : Goods or services that are necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials

Last Answer : (a) Needs ;

Two commodities X and Y goods can be inferred as close substitute of each other if – (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one leads to decrease in demand of other and vice versa (c) Fall in price of one lead to fall in demand of other one (d) Increase in price of one leads to increase in demand of other one

Description : Two commodities X and Y goods can be inferred as close substitute of each other if - (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one ... fall in demand of other one (d) Increase in price of one leads to increase in demand of other one

Last Answer : (a) Increase in price of one leads to increase in demand of other and vice versa 

Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three

Description : Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three

Last Answer : (d) All the three

Market demand curve for a commodity is (a) Horizontal summation of the individual demand curve for the commodity; (b) Summation of individual demand curve for 3 years; (c) Demand curve of complementary goods ; (d) Demand curve of supplementary goods

Description : Market demand curve for a commodity is (a) Horizontal summation of the individual demand curve for the commodity; (b) Summation of individual demand curve for 3 years; (c) Demand curve of complementary goods ; (d) Demand curve of supplementary goods

Last Answer : (a) Horizontal summation of the individual demand curve for the commodity; 

Tea and coffee are (a) Complementary goods ; (b) Alternative goods ; (c) Unrelated goods ; (d) None of these

Description : Tea and coffee are (a) Complementary goods ; (b) Alternative goods ; (c) Unrelated goods ; (d) None of these 

Last Answer :  (b) Alternative goods ; 

Which of these are exception to law of Demand (a) Giffen effect/goods ; (b) Future change in prices ; (c) Change in fashion ; (d) All the three

Description : Which of these are exception to law of Demand (a) Giffen effect/goods ; (b) Future change in prices ; (c) Change in fashion ; (d) All the three

Last Answer :  (d) All the three

According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three

Description : According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three

Last Answer : (d) All the three

Goods or services that are not necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials

Description : Goods or services that are not necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials

Last Answer : ; (c) Wants ;

The supply of goods means …………… (a) Quantity offered for sale at a given price and time ; (b) Quantity produced by the manufacturer ; (c) Quantity available with the supplier (d) Consumers disposal income

Description : The supply of goods means …………… (a) Quantity offered for sale at a given price and time ; (b) Quantity produced by the manufacturer ; (c) Quantity available with the supplier (d) Consumers disposal income

Last Answer : (a) Quantity offered for sale at a given price and time ;

Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Description : Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Last Answer : ; (d) Consumers disposal income

Which of these will have highly inelastic supply curve (a) Perishable goods ; (b) Consumer durables goods; (c) Items of elite class consumption ; (d) All the three

Description : Which of these will have highly inelastic supply curve (a) Perishable goods ; (b) Consumer durables goods; (c) Items of elite class consumption ; (d) All the three

Last Answer : (a) Perishable goods ;

Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices

Description : Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices 

Last Answer : (a) Quantity demanded ;

Change in cost of production of the concerned goods causes (a) The demand curve to shift ; (b) The supply curve to shift ; (c) Increase in quantity demanded; (d) Decrease in quantity supplied

Description : Change in cost of production of the concerned goods causes (a) The demand curve to shift ; (b) The supply curve to shift ; (c) Increase in quantity demanded; (d) Decrease in quantity supplied 

Last Answer : (b) The supply curve to shift ;

The cross elasticity of substitute goods is generally (a) > 1 ; (b) < 1 ; (c) < 0 ; (d) > 0

Description : The cross elasticity of substitute goods is generally (a) > 1 ; (b) < 1 ; (c) < 0 ; (d) > 0

Last Answer :  (d) > 0

The cross elasticity of complementary goods is generally (a) > 1 ; (b) < 1 ; (c) < 0 ; (d) = 0

Description : The cross elasticity of complementary goods is generally (a) > 1 ; (b) < 1 ; (c) < 0 ; (d) = 0

Last Answer :  (c) < 0 ;

The income elasticity of demand of normal goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) > 0

Description : The income elasticity of demand of normal goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) > 0 

Last Answer : ; (d) > 0

The income elasticity of demand of inferior goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) = 0

Description : The income elasticity of demand of inferior goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) = 0

Last Answer : (c) < 0 ;

Select the odd one (a) Consumer taste ; (b) Price of the goods ; (c) Change in population ; (d) Increase in price of product

Description : Select the odd one (a) Consumer taste ; (b) Price of the goods ; (c) Change in population ; (d) Increase in price of product

Last Answer : (d) Increase in price of product 

Goods which are not perfect substitute of each other but have to be consumed in a fixed ratio will have rate of substitution (a) Unity ; (b) Less than 1 ; (c) More than 1 ; (d) Zero

Description : Goods which are not perfect substitute of each other but have to be consumed in a fixed ratio will have rate of substitution (a) Unity ; (b) Less than 1 ; (c) More than 1 ; (d) Zero

Last Answer :  (d) Zero

Goods which are perfect substitute of each other will have elasticity of substitution…... (a) Unity ; (b) Less than 1 ; (c) More than 1 ; (d) Infinite

Description : Goods which are perfect substitute of each other will have elasticity of substitution…... (a) Unity ; (b) Less than 1 ; (c) More than 1 ; (d) Infinite 

Last Answer : ; (d) Infinite