| Question 1: Which of the following is studies under micro economics? |
all of these |
| Question 2: Who gave the concept of Limited Resources and unlimited wants |
Robbins |
| Question 3: Which of the following is a factor of production? |
all the above |
| Question 4: The word micro was first used by.... |
Ragnar Frish |
| Question 5: 'Micros' Which means 'small' belongs to : |
greek word |
| Question 6: Which of the following is not a welfare economist? |
J B Say |
| Question 7: The central problem of an economy is.... |
all the above |
| Question 8: Which economy has a co-existence of private and public sectors? |
Mixed |
| Question 9: In which economy decision are taken on the basis of price |
Capitalist |
| Question 10: The slope of a production possibility curve falls: |
from left to right |
| Question 11: Consumer behaviour is studied in : |
micro economics |
| Question 12: First law of Gossen |
Law of Diminishing Marginal Utility |
| Question 13: Budget line indicates___ |
price ratio |
| Question 14: From which of the following is the slope of indifference curve is measured? |
MRS |
| Question 15: Consumption of every additional... |
Diminishing |
| Question 16: How we calculate marginal utility |
Option A |
| Question 17: Utility can be measured by.... |
money |
| Question 18: who propounded... |
Hicks and Allen |
| Question 19: Utility in Economics means.. |
want satisfying power |
| Question 20: When total utility is fixed then Marginal utility is: |
Zero |
| Question 21: Demand curve generally slopes... |
downwards from left to right |
| Question 22: Which of the following is a reason for fall in demand? |
all the above |
| Question 23: Goods which can alternatively used... |
substituted goods |
| Question 24: with the raise in coffee price... |
rise |
| Question 25: In the following, the example of substitute goods is... |
tea and coffee |
| Question 26: For luxury goods... |
elastic |
| Question 27: Which of the following elasticity is less than 1 |
necessary goods |
| Question 28: who propounded... |
Marshall |
| Question 29: How many types of elasticity of demand has? |
Five |
| Question 30: Elasticity of demand for substitute goods is... |
Positive |
| Question 31: If the increase in income... |
giffin object |
| Question 32: Price elasticity of demand means: |
change in demand due to change in price |
| Question 33: In production function, production is a function of ? |
factors of production |
| Question 34: Long-run production function... |
law of return to scale |
| Question 35: Law of variable proportion... |
short term |
| Question 36: When Average Product (AP) .... |
equal to AP |
| Question 37: The production function of a firm is.. |
relationship between input and output |
| Question 38: When total fixed cost of production... |
INR 330 |
| Question 39: The shape of the average cost curve is- |
U |
| Question 40: which of the following statement is true |
AC=AFC+AVC |
| Question 41: Which of the following is included in Monetary cost? |
Implicit Cost |
| Question 42: which of the following is not a fixed cost? |
cost of raw materials |
| Question 43: MR is shown as.. |
option A |
| Question 44: In which market AR=MR? |
perfect competition |
| Question 45: which of the following statement is true |
A and B |
| Question 46: In monopoysitic competition... |
none of these |
| Question 47: For a firm's equilibrium.. |
MR=MC |
| Question 48: Which is a method of producer's equilibrium? |
both A and B |
| Question 49: A firm produces in the state of loss when.. |
price is more than AVC |
| Question 50: Determining factor of Supply of goods is:` |
all the above |
| Question 51: What type of relationship is found between the quantity supplied of a commodity and its price? |
Direct |
| Question 52: If the price of goods rasie by 60%.... |
Inelastic |
| Question 53: Which of the following is a characteristic of market? |
all of these |
| Question 54: Market situation where there is only one buyer |
monopsony |
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