1. Name the person who gave definition of economics as “An enquiry into nature and causes of wealth of nations”.
2. Name the person who defined economics as a study of human behavior as a relationship between ends and means
3. This is not a part of micro economics
4. This is not part of macro economic
5. This is not included in Theory of factor pricing
6. This is not the characteristic of human wants
7. Which characteristics of human want is related with law of substitution
8. Which characteristics of human wants is related with law of joint demand
9. Food falls in the category of
10. To dress appropriately is an example of
11. Things that satisfy human wants are called
12. Want satisfying quality in a good is called
13. This is not correct statement about utility
14. This is prerequisite for wealth
15. Summation of wealth of all nations is called
16. Satisfaction of human wants using goods and services is called
17. Eating foods by individual is a true example of
18. Supply is dependent up on
19. The concept of consumer surplus is derived from
20. Consumer surplus is
21. According to the law of diminishing marginal utility, with each successive unit, the marginal utility of a commodity.
22. According to the law of diminishing marginal utility, with each successive unit, the total utility of a commodity up to satiable point.
23. This is not the correct statement as per law of diminishing marginal utility
24. The statement that ‘rational consumer is able to arrange different preferences in a scale’ is related with
25. The law which state that utility can be subjectively measured is associated with
26. This is correct assumption of law of demand
27. This is wrong assumption of law of demand
28. When price of this good decreases, less quantity is demanded than before
29. When price of this good increases, its demand also increases
30. Following are exceptions to law of demand
31. The demand for perishable goods
32. A good required for more then one purpose creates
33. Demand for consumer goods is generally
34. When two goods are required to satisfy a single want they form
35. Demand for non perishable goods tends to be
36. Choose the correct statement
37. This is not the characteristics of survey method
38. This can act as expert in export method
39. This forecasting method is generally used for new products
40. This is not a statistical demand forecasting method
41. Under this concept, the proportion change in quantity demanded is more then proportion change in price
42. This is a theoretical concept only
43. The coefficient of price elasticity varies from
44. This is not a type of elasticity of demand
45. The numerical coefficient of perfectly elastic demand is
46. Luxury goods show following income elasticity
47. Following shows ‘ Vertical line’ as a demand curve
48. This cross elasticity is associated with substitute product
49. This cross elasticity is associated with complimentary products
50. This method uses demand curve to measure elasticity
51. This is the correct statement of firm as a economic term
52. This is the definition given by Hanson
53. This represents the characteristics of firm
54. With respect to profit, firm should aim at
55. Industry means
56. This is a variable factor in production function
57. This is fixed factor in production function
58. Time period which allows change in the input of all factors of production used by the organization is called
59. This is the characteristic of production function
60. This is not the current assumption for production function
61. This is not the characteristic of land
62. This is not the characteristic of labour
63. This is not the chractaeristic of capital
64. This is produced means of production
65. This are primary or original factor of production
66. The exertion of all different kinds of labour that are directly or indirectly involved in making it including waiting required for saving the capital used in making it refers to
67. The cost measured in terms of foregone benefits from the next best alternative use of a given resource is called
68. The cost of producing one more additional unit of output is called
69. The cost which remains same in short run at all levels of output
70. This represents supplementary or overhead cost
71. In the short run, production can be increased by
72. It is possible to vary all factors of production
73. Pick the correct statement ‘ In the short run cost curve, as output increases
74. Long run cost curve is drawn
75. In the long run, it is possible to increase output by
76. Economies of scale is of following type
77. This is not example of internal economies
78. This is not example of external economies
79. Diseconomies of scale occurs due to
80. Pick out the wrong statement
81. Production Concept of marketing deals with
82. Marketing concept deals with the
83. Marketing process is to identify
84. Marketing Diversification needs when
85. Marketing is much more dynamic because
86. Perfectly competitive market is one in which
87. The shutdown point comes
88. Profit maximization requires
89. Shutdown conditions leads to
90. The competitive firm can always make additional profit
91. Imperfect Competition means
92. For a given technology, prices are higher and outputs are lower
93. Under imperfect competition
94. The competitive firm can always make additional profit
95. Marketing is much more dynamic because
96. The term oligopoly means
97. The important feature of oligopoly is that
98. Oligopolistic industries are relatively common especially in
99. Oligopolists collude to maximize
100. A cartel is an organization of
101. In the monopolistic competition, competition among
102. The monopolistic competition demonstrate
103. In the monopolistic competition
104. In the monopolistic competition
105. Monopolistic competition resembles perfect competition in the ways
106. Gross Domestic Product (GDP) is the
107. The Gross Domestic Product measure
108. The Gross domestic product is the sum of the rupee values of
109. The annual flow of costs of output is the
110. The Gross Domestic product at current market gives
111. In the product approach of the national income accounts are
112. The most important points about national accounting is
113. In the National Income accounting, investment consists of the
114. The National Income includes
115. Government transfer payments are
116. Gross Domestic Product, can be measured
117. Second way to calculate GDP is as
118. In the Flow-of-Product Approach of National Income Accounting
119. To measure GDP in a closed economy we assume
120. To measure GDP in an open economy we consider
121. For the flow-of –product calculation of GDP
122. Value-added approach avoid
123. Value added is the difference between
124. We calculate value added at each stage by
125. To calculate the GDP earnings by a firm
126. Disposable income (DI) is
127. Inflation is measure by using
128. Net investment is positive
129. In national accounts which is generally not include,
130. To calculate the GDP earnings by a firm
131. Mixed Farming systems means
132. Mixed farming systems are probably the most sustainable
133. The major implications for the sustainability of farming systems
134. Dairy has become more inclusive compared to crop production
135. Features of Indian dairy sector is
136. The milk productivity of the dairy animals in India has appeared low
137. The structure of milk production in India
138. Commercial dairy farming means
139. Under a single roof of dairy industry
140. The relationship between agriculture and dairy farming in India is
141. The challenge before the Indian dairy Industry would be to focus on
142. India managed its dairy Industry
143. Within India, milk yields vary widely because
144. ‘Operational Flood’ programme was initiated during
145. Dairy development has been transformed due to
146. The main purpose of OF was
147. Following was the implementing body of OF
148. OF was run in following Phases.
149. Following was obtained as gift to be used is OF
150. Following benefitted the most from OF.
151. This law is traditionally associated with agricultural production
152. “When in the short run, as the amount of variable factors increases, other things remain equal, output will increase more than proportionately in the beginning, then it may increase in the same proportion and ultimately it will increase less proportionately”.
153. “As the proportion of one factor in a combination of factors is increased, up to a point, the marginal product of the factor will increase.” This statement indicates
154. “Irrespective of scale of production, the returns remain same, whether business is expanded or contracted”. This statement indicates
155. In situations where the influence of both nature and men is balanced, this law is applicable