In addition to three Central problem of economy, the additional problem(s) raised by the Modern economists is / are (a) Are the resources fully utilized or not ; (b) How efficient is the production and distribution system; (c) Whether the capacity to produce or grow is increasing or is static ; (d) All the three

In addition to three Central problem of economy, the additional problem(s) raised by the Modern economists is / are (a) Are the resources fully utilized or not ; (b) How efficient is the production and distribution system; (c) Whether the capacity to produce or grow is increasing or is static ; (d) All the three
by

1 Answer

Answer :

(d) All the three
by

Related questions

Which of these statement is true about production possibility curve (PPC/PPF) (a) It shows various combinations of two goods which yield same level of satisfaction (b) It shows various combination of two goods which an economy can produce with a given amount of resources (c) It shows various combination of two goods which an economy can produce with a given budget (d) It shows various combination of two goods which an economy can produce with a given time

Description : Which of these statement is true about production possibility curve (PPC/PPF) (a) It shows various combinations of two goods which yield same level of satisfaction (b) It shows various combination of two ... (d) It shows various combination of two goods which an economy can produce with a given time

Last Answer : (b) It shows various combination of two goods which an economy can produce with a given amount of resources

Which of the following is a central problem of every economy (a) Abundance of resources ; (b) Scarcity of economic resources ; (c) Poverty; (d) Moral and ethical values

Description : Which of the following is a central problem of every economy (a) Abundance of resources ; (b) Scarcity of economic resources ; (c) Poverty; (d) Moral and ethical values 

Last Answer : (b) Scarcity of economic resources ;

Marginal cost is defined as……………………. (a) Change in total cost due to addition of one unit ; (b) Total cost divided by additional unit; (c) Total cost divided by total units produced ; (d) Total sales / Total production

Description : Marginal cost is defined as……………………. (a) Change in total cost due to addition of one unit ; (b) Total cost divided by additional unit; (c) Total cost divided by total units produced ; (d) Total sales / Total production

Last Answer : (a) Change in total cost due to addition of one unit ;

The central problem of how to produce is resolved by (a) Demand and supply of factor inputs ; (b) Demand and supply of goods; (c) Relative prices and availability of factors of production ; (d) Government intervention

Description : The central problem of how to produce is resolved by (a) Demand and supply of factor inputs ; (b) Demand and supply of goods; (c) Relative prices and availability of factors of production ; (d) Government intervention

Last Answer : (c) Relative prices and availability of factors of production

In question No. 53 if the economy produces only 3 guns and 900 tons of wheat instead of 1100 tons of wheat what does it indicates (a) Under employment of resources ; (b) Production in efficiency ; (c) Sub-optimal production; (d) All the three

Description : In question No. 53 if the economy produces only 3 guns and 900 tons of wheat instead of 1100 tons of wheat what does it indicates (a) Under employment of resources ; (b) Production in efficiency ; (c) Sub-optimal production; (d) All the three

Last Answer : (d) All the three 

PPF is negative sloped due to (a) Scarcity of production resources ; (b) Unlimited wants ; (c) Improvement in technology; (d) Increasing opportunity cost

Description : PPF is negative sloped due to (a) Scarcity of production resources ; (b) Unlimited wants ; (c) Improvement in technology; (d) Increasing opportunity cost 

Last Answer : (a) Scarcity of production resources ; 

In an agricultural family all the family members are working the farmland of the family. Due to addition of two more person in the family they are also working in the farmland of the family with no additional increase in farm output. This type of unemployment is known as (a) Cyclical unemployment ; (b) Disguised unemployment ; (c) Frictional unemployment (d) Seasonal unemployment

Description : In an agricultural family all the family members are working the farmland of the family. Due to addition of two more person in the family they are also working in the farmland of the ... (a) Cyclical unemployment ; (b) Disguised unemployment ; (c) Frictional unemployment (d) Seasonal unemployment

Last Answer :  (b) Disguised unemployment ;

Using organization's existing under-utilized resources or capabilities (technologies, distribution channels, brands etc.) to new markets, products or services, is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale

Description : Using organization's existing under-utilized resources or capabilities (technologies, distribution channels, brands etc.) to new markets, products or services, is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale

Last Answer : Economies of Scope

Using organization's existing under-utilized resources or capabilities (technologies, distribution channels, brands etc.) to new markets, products or services, is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale

Description : Using organization's existing under-utilized resources or capabilities (technologies, distribution channels, brands etc.) to new markets, products or services, is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale

Last Answer : Economies of Scope

Which of the following is not a central problem of a society (a) What to produce ; (b) How to produce ; (c) For whom to produce ; (d) What to eat

Description : Which of the following is not a central problem of a society (a) What to produce ; (b) How to produce ; (c) For whom to produce ; (d) What to eat

Last Answer : (d) What to eat

Which of the following is not a central problem of a society (a) What to produce ; (b) How to produce ; (c) For whom to produce ; (d) Where to produce

Description : Which of the following is not a central problem of a society (a) What to produce ; (b) How to produce ; (c) For whom to produce ; (d) Where to produce

Last Answer : (d) Where to produce

The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Description : The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Last Answer : (a) `7.4 ;

Which of these is/are the feature of an underdeveloped economy? (a) Greater inequalities ; (b) High incidence of unemployment ; (c) Orthodox means of production ; (d) All the three

Description : Which of these is/are the feature of an underdeveloped economy? (a) Greater inequalities ; (b) High incidence of unemployment ; (c) Orthodox means of production ; (d) All the three

Last Answer :  (d) All the three 

In free economy the decision about investment, saving and consumption are decided by (a) Price mechanism ; (b) Central bank ;(c) Planning Commission ;(d) Finance budget

Description :  In free economy the decision about investment, saving and consumption are decided by (a) Price mechanism ; (b) Central bank ;(c) Planning Commission ;(d) Finance budget 

Last Answer : (a) Price mechanism

Opportunity cost of increasing production of Gun to 5 units in combination F is –tons of bread (a) 200 ; (b) 100 ; (c) 600 ; (d) 500

Description : Opportunity cost of increasing production of Gun to 5 units in combination F is –tons of bread (a) 200 ; (b) 100 ; (c) 600 ; (d) 500

Last Answer :  (c) 600

Opportunity cost of increasing production of Gun to 4 units in combination E is –tons of bread (a) 200 ; (b) 500 ; (c) 300 ; (d) 400

Description : Opportunity cost of increasing production of Gun to 4 units in combination E is –tons of bread (a) 200 ; (b) 500 ; (c) 300 ; (d) 400

Last Answer :  (b) 500

Opportunity cost of increasing production of Gun to 3 units in combination D is –tons of bread (a) 200 ; (b) 100 ; (c) 300 ; (d) 400

Description : Opportunity cost of increasing production of Gun to 3 units in combination D is –tons of bread (a) 200 ; (b) 100 ; (c) 300 ; (d) 400

Last Answer : ; (d) 400

………….. is a situation in which it is not possible to make someone better off without making someone worse off (a) Social efficiency ; (b) Production efficiency ; (c) Distribution efficiency ; (d) Pareto efficiency

Description : ………….. is a situation in which it is not possible to make someone better off without making someone worse off (a) Social efficiency ; (b) Production efficiency ; (c) Distribution efficiency ; (d) Pareto efficiency

Last Answer :  (d) Pareto efficiency

A monopoly based on sole state ownership of production and distribution network is known as (a) Natural monopoly ; (b) Technological monopoly ; (c) Government monopoly; (d) Geographical monopoly

Description : A monopoly based on sole state ownership of production and distribution network is known as (a) Natural monopoly ; (b) Technological monopoly ; (c) Government monopoly; (d) Geographical monopoly

Last Answer : (c) Government monopoly;

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.

If an economy is working at a point left to PPF curve it shows that……… (a) The economy is working at less than the full employment level ; (b) The economy is at full employment level ; (c) The economy is country is faced with excess production ; (d) There is glut of imports

Description : If an economy is working at a point left to PPF curve it shows that……… (a) The economy is working at less than the full employment level ; (b) The economy is at full employment level ; (c) The economy is country is faced with excess production ; (d) There is glut of imports

Last Answer : (a) The economy is working at less than the full employment level ;

If production possibility frontier is linear it implies (a) Constant opportunity cost ; (b) Economy is stagnant; (c) Underemployment of factor of production ; (d) With the increase in production, opportunity cost also increases

Description : If production possibility frontier is linear it implies (a) Constant opportunity cost ; (b) Economy is stagnant; (c) Underemployment of factor of production ; (d) With the increase in production, opportunity cost also increases

Last Answer : (a) Constant opportunity cost 

…………… it is the form of the market in which the only seller of a commodity has fully control over the prices (a) Monopoly ; (b) Pure monopoly ; (c) Simple monopoly ; (d) All the three

Description : …………… it is the form of the market in which the only seller of a commodity has fully control over the prices (a) Monopoly ; (b) Pure monopoly ; (c) Simple monopoly ; (d) All the three

Last Answer : (b) Pure monopoly ;

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 

…………… has excess production capacity in the long run (a) Perfect competition market ; (b) Monopolistic competition market ; (c) Oligopolistic market (d) None

Description : …………… has excess production capacity in the long run (a) Perfect competition market ; (b) Monopolistic competition market ; (c) Oligopolistic market (d) None

Last Answer :  (b) Monopolistic competition market ;

Pick out the wrong statement. (A) In solvent extraction, the distribution co-efficient should be as large as possible for solvent economy (B) With increase in pressure, the solubility of gases in solvent increases at a fixed temperature (C) Decrease in Murphree plate efficiency is an indication of entrainment in distillation column (D) The capacity of a distillation column is maximum at total reflux

Description : Pick out the wrong statement. (A) In solvent extraction, the distribution co-efficient should be as large as possible for solvent economy (B) With increase in pressure, the solubility of ... in distillation column (D) The capacity of a distillation column is maximum at total reflux

Last Answer : (D) The capacity of a distillation column is maximum at total reflux

Normative economic theory deals with (a) What is or how the economic problem facing the society are solved; (b) How the problem should be solved ; (c) What to Produce ; (d) How to produce

Description : Normative economic theory deals with (a) What is or how the economic problem facing the society are solved; (b) How the problem should be solved ; (c) What to Produce ; (d) How to produce

Last Answer : (b) How the problem should be solved ;

GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents

Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents 

Last Answer : ; (b) Indirect taxes ;

Which is false about production in Capsim? a. Teams cannot produce beyond 100% capacity. b. Teams should match their production schedule to the teams sales forecast. c. There is a one year lag between purchase and use of additional production capacity. d. There is a one year lag between purchase and use of additional production automation. e. All of the above are true.

Description : Which is false about production in Capsim? a. Teams cannot produce beyond 100% capacity. b. Teams should match their production schedule to the teams sales forecast. c. There is a one year lag ... year lag between purchase and use of additional production automation. e. All of the above are true.

Last Answer : a. Teams cannot produce beyond 100% capacity.

In a mixed economy which sector(s) is/ are found (a) Private Only ; (b) Public sector only ; (c) None ; (d) Both a and b

Description : In a mixed economy which sector(s) is/ are found (a) Private Only ; (b) Public sector only ; (c) None ; (d) Both a and b

Last Answer : (d) Both a and b

In an open economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP<GNP ; (d) All the three are possible

Description : In an open economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP

Last Answer : ; (d) All the three are possible

In a closed economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP<GNP ; (d) All the three are possible

Description : In a closed economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP

Last Answer : (a) GDP=GNP ; 

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 ;

Which of these resources would be called as land in economics (a) Coal mines of Bihar ; (b) Water resources of Uttaranchal ; (c) Mineral deposits of Jharkhand; (d) All the three

Description : Which of these resources would be called as land in economics (a) Coal mines of Bihar ; (b) Water resources of Uttaranchal ; (c) Mineral deposits of Jharkhand; (d) All the three

Last Answer : (d) All the three

If a firm is operating at any point inside the PPF, the firm is (a) Efficient firm ; (b) Inefficient firm ; (c) Poised for abnormal growth ; (d) None

Description : If a firm is operating at any point inside the PPF, the firm is (a) Efficient firm ; (b) Inefficient firm ; (c) Poised for abnormal growth ; (d) None

Last Answer :  (b) Inefficient firm

Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : (3) is a measure of the proportional of the existing capital stock used for current production. Explanation: Capacity utilisation refers to the extent or level to which the productive capacity of a ... as a percentage, it is computed by dividing the total capacity with the portion being utilized.

Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : is a measure of the proportional of the existing capital stock used for current production.

A reduction in the number of producers will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Description : A reduction in the number of producers will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Last Answer : (b) increasing and quantity decreasing ;

A shift outward in supply curve will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Description : A shift outward in supply curve will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Last Answer : (c) decreasing and quantity increasing ;

RBI check inflation by (a) Increasing bank rate ; (b) Increasing CRR ; (c) Both ; (d) None

Description : RBI check inflation by (a) Increasing bank rate ; (b) Increasing CRR ; (c) Both ; (d) None

Last Answer : ; (c) Both ;

Point elasticity of demand can be useful in which of the following cases (a) A departmental store is thinking of increasing the price of gift packs (b) A service station is considering to lower the service charges (c) A health club is considering to lower the monthly membership fee (d) An airlines company is considering to lower holiday packages

Description : Point elasticity of demand can be useful in which of the following cases (a) A departmental store is thinking of increasing the price of gift packs (b) A service station is considering to ... to lower the monthly membership fee (d) An airlines company is considering to lower holiday packages

Last Answer : (c) A health club is considering to lower the monthly membership fee 

Marginal cost can be equal to Average variable cost when (a) Average variable cost is falling ; (b) Average variable cost is increasing; (c) Average variable cost is constant ; (d) Under any of the above situations

Description : Marginal cost can be equal to Average variable cost when (a) Average variable cost is falling ; (b) Average variable cost is increasing; (c) Average variable cost is constant ; (d) Under any of the above situations

Last Answer : (c) Average variable cost is constant ;

Long run supply curve of a increasing cost industry is (a) Horizontal line overlapping X axis ; (b) Upward sloping line; (c) Downward sloping line ; (d) Vertical line

Description : Long run supply curve of a increasing cost industry is (a) Horizontal line overlapping X axis ; (b) Upward sloping line; (c) Downward sloping line ; (d) Vertical line 

Last Answer : (b) Upward sloping line; 

TVC curve begins to………with the onset of increasing returns (a) Rise at an increasing rate ; (b) Rise at an decreasing rate; (c) Fall at an Increasing rate ; (d) Stabilize

Description : TVC curve begins to………with the onset of increasing returns (a) Rise at an increasing rate ; (b) Rise at an decreasing rate; (c) Fall at an Increasing rate ; (d) Stabilize

Last Answer :  (b) Rise at an decreasing rate;

TVC curve begins to……….with the onset of diminishing returns (a) Rise at an Increasing rate ; (b) Rise at an decreasing rate; (c) Fall at an Increasing rate ; (d) Stabilize

Description : TVC curve begins to……….with the onset of diminishing returns (a) Rise at an Increasing rate ; (b) Rise at an decreasing rate; (c) Fall at an Increasing rate ; (d) Stabilize 

Last Answer : (a) Rise at an Increasing rate ; 

When a firm enters the law of diminishing returns to scale (a) TVC curve begins to fall at an increasing rate (b) TVC curve begins to increase at an increasing rate (c) TVC curve begins to fall at an decreasing rate (d) TVC curve begins to increase at an decreasing rate

Description : When a firm enters the law of diminishing returns to scale (a) TVC curve begins to fall at an increasing rate (b) TVC curve begins to increase at an increasing rate (c) TVC curve begins to fall at an decreasing rate (d) TVC curve begins to increase at an decreasing rate

Last Answer : (a) TVC curve begins to fall at an increasing rate 

Total output is maximum when (a) MP =0 ; (b) MP is increasing ; (c) MP is decreasing ; (d) MP is constant

Description : Total output is maximum when (a) MP =0 ; (b) MP is increasing ; (c) MP is decreasing ; (d) MP is constant

Last Answer : (a) MP =0 ;

Any point beyond PPF curve can be attained by (a) Increasing supply of factor inputs ; (b) Technological innovation ; (c) Both ; (d) None

Description : Any point beyond PPF curve can be attained by (a) Increasing supply of factor inputs ; (b) Technological innovation ; (c) Both ; (d) None

Last Answer : ; (c) Both ;

Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth

Description : Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth 

Last Answer : (b) Inflationary pressure ;

In agricultural sector net value added is estimated by (a) Income method ; (b) Expenditure method ; (c) Production method ; (d) All the three

Description : In agricultural sector net value added is estimated by (a) Income method ; (b) Expenditure method ; (c) Production method ; (d) All the three

Last Answer : ; (c) Production method ;