Fundamentals of Economics

M

Mr. Dubey • 51.17K Points
Coach

Q 11. The ____ states that bad money drives good money out of circulation.

(A) Law of Demand
(B) Law of Supply
(C) Gresham’s Law
(D) Demand Schedule
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M

Mr. Dubey • 51.17K Points
Coach

Q 12. ________ competition exists when the basic features of Perfect Competition are not present.

(A) Pure
(B) Perfect
(C) Imperfect
(D) All of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 13. On the basis of time element, markets can be classified into __________ types.

(A) 2
(B) 3
(C) 4
(D) 5
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M

Mr. Dubey • 51.17K Points
Coach

Q 14. The additional cost incurred to produce an additional unit of output is _______

(A) Marginal cost
(B) Variable cost
(C) Fixed cost
(D) Opportunity cost
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M

Mr. Dubey • 51.17K Points
Coach

Q 15. __________ cost is also known as Alternative Cost.

(A) Opportunity
(B) Actual
(C) Real
(D) Money
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M

Mr. Dubey • 51.17K Points
Coach

Q 16. ________ means transformation of physical inputs into output.

(A) Marketing
(B) Production
(C) Finance
(D) Money
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M

Mr. Dubey • 51.17K Points
Coach

Q 17. Which factor of production is considered as a produced means of production?

(A) Land
(B) Labour
(C) Capital
(D) Organisation
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M

Mr. Dubey • 51.17K Points
Coach

Q 18. There are _______ stages of the Law of Variable Proportions

(A) 2
(B) 3
(C) 4
(D) 5
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M

Mr. Dubey • 51.17K Points
Coach

Q 19. ___________ is a gift of nature.

(A) Land
(B) Labour
(C) Capital
(D) Organisation
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M

Mr. Dubey • 51.17K Points
Coach

Q 20. When two or more different goods are produced together by a single firm, it is called as _________ supply.

(A) joint
(B) composite
(C) excess
(D) short
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