For production of goods we need factors:
1.Few
2.Two
3.Four
4.Unlimited
Posted Date:-2021-08-16 01:24:39
Land is:
1.Hirable
2.Not hirable
3.Homogeneous
4.A form of capital
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The cost which a firm incurs for purchasing or hiring factors is called:
1.Implicit
2.Explicit
3.Real
4.Nominal
Posted Date:-2021-08-16 01:24:39
The short run:
1.Is less than one year
2.Requires that at least one input is fixed
3.Requires that all inputs are fixed
4.Is just long enough to permit entry and exit
Posted Date:-2021-08-16 01:24:39
The transformation of resources into economic goods and series is called:
1.Technical efficiency
2.Input
3.Production
4.Increasing returns
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Which of the following factors takes risk innovates and coordinates:
1.Capital
2.Labour
3.Bank
4.Entrepreneur
Posted Date:-2021-08-16 01:24:39
All inputs can be varied:
1.Short run
2. Long run
3.Both periods
4.Non of the period
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As output increases AC curve:
1.Falls
2.Rises
3.Remains constant
4.(a) (b) (c) are all correct
Posted Date:-2021-08-16 01:24:39
As output increases:
1.MC curve firstly falls then rises
2.MC firstly rises then falls
3.MC continuously rises
4.None of these
Posted Date:-2021-08-16 01:24:39
Economic development of a country requires:
1.Skilled labour
2.Diplomacy
3.Abundant natural resources
4.(a) and (c) of above
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Economic goods produced by firms are called:
1.Productivity
2.Innovation
3.Technological progress
4.Output
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Labour is hirable but you cannot hire:
1.Capital
2.Land
3.Manager
4.Entrepreneur
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Land :
1.Is a free gift of nature
2.Lacks geographical mobility
3.Is not hirable
4. (a) and (b) of above
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Land means:
1.Sea
2.Surface of earth
3.Natural forests
4.All natural resources
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MC is given by:
1.Slope of TFC
2.Slope of TC
3.Slope of AC
4. None of these
Posted Date:-2021-08-16 01:24:39
Productivity of land can be raised by:
1.Extensive cultivation
2.Intensive cultivation
3.Better marketing
4.(a) and (b) of above
Posted Date:-2021-08-16 01:24:39
TC
1.Starts from origin
2.Does not start from origin
3. Is parallel to Y-axis
4. None of these
Posted Date:-2021-08-16 01:24:39
Which of the following input factor takes risk innovtes and coordinates:
1.Capital
2.Labour
3.Productivity
4.Entrepreneur
Posted Date:-2021-08-16 01:24:39
Which of the following is correct with respect to resources:
1.Money is a capital good
2. Human skills are a labour input
3. Entrepreneur is part of the labour input
4.Natural resources include human input
Posted Date:-2021-08-16 01:24:39
Which of the following is NOT and input:
1.Labour
2.Entrepreneurship
3. Natural resources
4.Production
Posted Date:-2021-08-16 01:24:39
Which statement is true:
1.ATC + AVC = AFC
2.ATC + MC = AFC
3.ATC + AFC = AVC
4. AFC + AVC = ATC
Posted Date:-2021-08-16 01:24:39
All the following are U-shaped Except:
1.AVC
2.AFC
3.AC
4.MC
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An example of natural resources is:
1.Factory
2.Skilled doctor
3.Oil reserves in the ground
4.Oil reserves in storage tank
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Excise tax is a part of:
1.Fixed cost
2.Variable cost
3. Implicit cost
4.Is not a part of cost
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Geographical mobility is not possible for:
1.Land
2.Labour
3.Capital
4.Wealth
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In Monopoly at various output levels:
1.AR = MR
2. AR < MR
3.AR > MR
4.None of these
Posted Date:-2021-08-16 01:24:39
Natural environment that can be used for the production of goods and services is:
1.Labour
2.Money
3.Capital
4.Natural resources
Posted Date:-2021-08-16 01:24:39
Productivity of land can be raised by:
1.Extensive cultivation
2. Intensive cultivation
3.Better marketing
4.Increasing money supply
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Standard of living of a country can be raised if it increases:
1.Labour force
2.Production
3.Money supply
4.Exports
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TC
1.Rises continuously
2.Falls after reaching a maximum
3. Is horizontal
4.None of these
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The following is NOT a factor of production:
1.Labour
2.Entrepreneurship
3.Land
4.Money
Posted Date:-2021-08-16 01:24:39
The long run is a:
1.Period of three years or longer
2.Period long enough to allow firms to change plant size and capacity
3.Period long enough to allow firm to make economic decisions
4.A period which affects larger than smaller firms
Posted Date:-2021-08-16 01:24:39
The shape of rectangular hyperbola is made by:
1.MC
2.AFC
3.AVC
4.None of these
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The three broad types of productive resources are:
1.Money profit and interest
2.Capital labour and natural resources
3.Bond stock shares and deposits
4.Technology human capital and markets
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The transformation of resources into economic goods and services is:
1.Inpur
2.Production
3. Increasing returns
4.Output
Posted Date:-2021-08-16 01:24:39
TVC
1.Starts from origin
2.Does not start from origin
3.Is parallel to Y-axis
4.None of these
Posted Date:-2021-08-16 01:24:39
Unit cost is another name for:
1.MC
2.AVC
3.ATC
4.AFC
Posted Date:-2021-08-16 01:24:39
Which is NOT a cause of shift in cost curves of a firm:
1.Excise tax
2.Prices of inputs
3. Increase in productivity
4.Price of product
Posted Date:-2021-08-16 01:24:39