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
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
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 ;
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
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
Description : In glycoproteins the carbohydrate is in the form of disaccharide units, the number of units are (A) 50–100 (B) 200–300 (C) 400–500 (D) 600–700
Last Answer : Answer : D
Description : Amylose contains glucose units (A) 100–200 (B) 200–300 (C) 300–400 (D) 500–600
Last Answer : C
Description : Standard quantity of material per unit 5KG. Standard Price Rs 5 per KG. actual number of units 400 units. Actual quantity 2,200KG and price of material Rs 4.80 per kg. Calculate material price. a) 100(F) b) 500(A) c) 440(F) d) 600(F)
Last Answer : The standard quantity of material per unit is 5KG, so the standard quantity for 400 units would be: Standard quantity = 5KG/unit x 400 units = 2000KG The standard price per KG is Rs 5, so the ... material cost was lower than the standard material cost. Option (c) is the correct answer: 440(F).
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 ;
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
Description : Curvature of PPF is due to……… (a) Increase in opportunity cost ; (b) Decrease in opportunity cost ; (c) Fall in demand; (d) Fall in supply
Last Answer : (a) Increase in opportunity cost ;
Description : The opportunity cost of capital investment is (a) Sacrifice of current consumption ; (b) More consumption on luxury items; (c) Lower capital growth in future ; (d) Wastage of Resources
Last Answer : (a) Sacrifice of current consumption
Description : The opportunity cost of consumption is (a) Lack of capital formation for future ; (b) Greater investment ; (c) Full employment ; (d) Deflation
Last Answer : (a) Lack of capital formation for future ;
Description : 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 ... (c) Whether the capacity to produce or grow is increasing or is static ; (d) All the three
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 ;
Description : Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of ... elasticity of substitution between Tea and Coffee is (a) 1 ; (b) 4 ; (c) 5 ; (d) 3
Last Answer : (c) 5 ;
Description : CG Co manufactures a single product T. Budgeted production output of product T during June is 200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per cent idle time. Labour is paid at ... for March is (a) Rs 6,720 (b) 8,400 (c) 10,080 (d) 10,500
Last Answer : (d) 10,500
Description : Which of the following is not a cause of unemployment in India? (a) Growing population ; (b) Lack of employment opportunity ; (c)Inappropriate education system ; (d) Liberalization
Last Answer : (d) Liberalization
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 ;
Description : A monopoly is characterized by (a) Limited entry and exit opportunity ; (b) Single supplier ; (c) Few customers ; (d) All the three
Last Answer : (a) Limited entry and exit opportunity ;
Description : Insensible loss of body water of normal adult is about (A) 50–100 ml (B) 100–200 ml (C) 300–500 ml (D) 600–1000 ml
Description : In glycinuria daily urinary excretion of glycine ranges from (A) 100–200 mg (B) 300–500 mg (C) 600–1000 mg (D) 1100–1400 mg
Last Answer : Answer : C
Description : What is the range of tempering temperature (°C) for most of the materials? (A) 75-100 (B) 200-300 (C) 350-450 (D) 500-600
Last Answer : (B) 200-300
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 ;
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;
Description : If the disposal income of a household increases by 10% and the demand for bread falls by 5%. The income elasticity of bread is (a) 0.5 ; (b) -0.5 ; (c) 1.0 ; (d) -1.0
Last Answer : (b) -0.5 ;
Description : Bread and butter have……….. (a) Negative cross price elasticity of demand ; (b) Positive cross elasticity of demand (c) Positive income elasticity of demand ; (d) Negative income elasticity of demand
Last Answer : (a) Negative cross price elasticity of demand ;
Description : A monopoly firm makes more profit because (a) It has ability to choose among price and output combination ; (b) It can discriminate price; (c) It leave the consumer with no consumer surplus ; (d) it acts as a market leader
Last Answer : (a) It has ability to choose among price and output combination ;
Description : If the production possibility curve is linear, then production is said to be subject of (a) constant opportunity cost (b) decreasing opportunity cost © Increasing opportunity cost (d) first increasing then decreasing opportunity cost.
Last Answer : (a) constant opportunity cost
Description : In the long run price is governed by …………. (a) Cost of Production ; (b) Demand supply forces ; (c) Marginal utility ; (d) None
Last Answer : (a) Cost of Production ;
Description : According to law of demand (a) Higher the price higher the production of the product (b) Higher the price lower the cost of production (c) Lower the price higher the demand for the product (d) Higher price higher the quantity the more the consumer demand
Last Answer : (c) Lower the price higher the demand for the product
Description : Change in quantity demanded or Movement along demand curve occurs due (a) Due to change in price only ; (b) Change in Cetris paribus conditions only ; (c) Change in cost of production ; (d) Change in technology
Last Answer : (a) Due to change in price only ;
Description : Shift in Demand curve or change in Demand curve occurs due to (a) Increase in price ; (b) Decrease in cost of production ; (c) Change in Cetris paribus conditions ; (d) All the three
Last Answer : (c) Change in Cetris paribus conditions ;
Description : The quantity that an individual supplier is prepared to supply over a period of time is a function of (a) Price of the product ; (b) Cost of production of the product ; (c) Both ; (d) None
Last Answer : ; (c) Both ;
Description : According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market
Last Answer : (d) Higher the price higher the quantity the seller is prepared to supply in market
Description : Under law of supply, ceteris paribus is (a) Cost of production ; (b) Production technology ; (c) None ;(d) Both
Last Answer : ;(d) Both
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
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 ;
Description : Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products
Last Answer : (b) Number of buyers ;
Description : Select the odd one (a) Price of the product ; (b) Cost of production ; (c) No. of suppliers ; (d) St. duties
Last Answer : (a) Price of the product
Description : Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products
Last Answer : (b) Number of buyers
Description : Price elasticity of demand is not affected by (a) Nature of the commodity ; (b) Availability of close substitute; (c) Cost of production ; (d) Consumption habits
Last Answer : (c) Cost of production ;
Description : Long run supply curve of a constant cost industry is (a) Horizontal line at a price that is equal to the long run minimum average cost of production; (b) Horizontal line overlapping X axis ; (c) Vertical line at mid of X axis ; (d) Vertical line overlapping Y axis
Last Answer : (a) Horizontal line at a price that is equal to the long run minimum average cost of production;
Description : Total variable cost curve is explained by (a) Law of the diminishing marginal returns ; (b) The price of the variable inputs; (c) Production function ; (d) All the three
Last Answer : ; (d) All the three
Description : The negatively sloped part of long run cost curve of a firm is due to (a) Increase in production due to specialization and division of labour; (b) Diseconomies of scale ; (c) Diminishing returns to scale ; (d) Marginal utility theory
Last Answer : (a) Increase in production due to specialization and division of labour;
Description : If total production increases in the short run, the total cost will also…….. (a) Increase due to increase in fixed cost ; (b) Increase due to increase in variable cost (c) Increase due to increase in total cost ; (d) Remain constant
Last Answer : (b) Increase due to increase in variable cost
Description : Which of these costs will increase or decrease with increase in production (a) Marginal cost ; (b) Financial costs ; (c) Fixed costs ; (d) All the three
Last Answer : (a) Marginal cost ;
Description : Marginal product is…………. (a) Rate at which total production changes with change in variable input; (b) Rate at which total production changes with change in total cost; (c) Rate at which total production changes with change in fixed cost ; (d) None
Last Answer : (a) Rate at which total production changes with change in variable input;
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
Description : The paradox of Diamond is more costly than water is explained by (a) Marginal utility concept ;(b) Scarcity ; (c) Relative cost of production ; (d) All the three
Last Answer : ;(b) Scarcity ;