38500+ Important MCQs for AFCAT

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Learn AFCAT MCQs with answers [Page -341 of Department 70]

A

Admin • 37.39K Points
Coach Economic

-3417) In a socialist economy, all decisions regarding production and distribution are taken by _____

  • (A) Private sector
  • (B) Market forces
  • (C) Customs and traditions
  • (D) Central planning authority
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Correct Answer - Option (D)

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A

Admin • 37.39K Points
Coach Economic

-3416) When marginal product is negative, the total product _____

  • (A) Is lowest
  • (B) Is maximum
  • (C) Increases
  • (D) Decreases
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Correct Answer - Option (D)

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A

Admin • 37.39K Points
Coach Economic

-3415) The marginal productivity theory explains any variable factor must obtain a reward equal to its _____

  • (A) Average product
  • (B) Total product
  • (C) Productivity
  • (D) Marginal product
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Correct Answer - Option (D)

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A

Admin • 37.39K Points
Coach Economic

-3414) In the words of _____, “without saving, there can be no liquidity to surrender”.

  • (A) Marshall
  • (B) Robbins
  • (C) Jacob Viner
  • (D) Keynes
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Correct Answer - Option (C)

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T

Tina Singh • 12.22K Points
Tutor II Economic

-3411) Indifference curve assumed that the consumer’s scale of preferences at a given time _____

  • (A) Remains constant
  • (B) Varies
  • (C) Remains one
  • (D) Remains zero
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Correct Answer - Option (A)

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