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Related Questions |
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Which one in the following is not correct?
a)There are limited wants
b)Means are scarce
c)Resources have alternative uses
d)Economics is science
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Which one is the feature of Marshall's definition?
a)Limited ends
b)Scarce means
c)Study of wealth as well as study of man
d)Study of allocation of resources
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What will be the shape of PPC curve when marginal opportunity cost is constant?
a)Concave
b)Convex
c)Backward bending
d)Straight line
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A developed economy uses_____ technique in production.
a)Labour intensive
b)Capital intensive
c)Home-based
d)Traditional
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Micro economics is also known as_______:
a)Public economics
b)Price theory
c)Income theory
d)Demand theory
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Economic problem arises when:-
a) When wants are unlimited b) When resources are unlimited c) When resources have alternative uses d) All of the above
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Mixed economy means:
a)All economic decisions are taken by central authority
b)All economic decisions are taken by private entrepreneurs
c)Economic decisions are partly taken by the state and partly by private entrepreneurs
d)None of these
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Which one is not the characteristic of capitalist economy?
a)Profit motive
b)Income inequality
c)Free employment
d)Collective ownership
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What is cut-off frequency?
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Mixed economy means:
a)Co-existence of small and large industries
b)Promoting both agriculture and industries in the economy
c)Co-existence of rich and poor
d)Co-existence of public and private sectors
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Explain the process of calculating the planned activity output through Long term planning?
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If the opportunity cost is constant, then PPC would be:
a)Convex
b)Straight line
c)Backward bending
d)Concave
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Which of these would cause a rightward shift of the PPC curve?
a)Improvement in technology
b)Greater capital formation
c)Increase in population
d)All of these
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According Robbins, 'means' are:
a)Scarce
b)Unlimited
c)Undefined
d)All of these
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Under inductive method , the logic proceeds from:
a)General to particulars
b)Particular to general
c)Both (a) and (b)
d)None
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In a free market economy, when consumers increase their purchase of a item, the price increases due to
a)Demand,Supply b)Regulation c)Cartelisation d)Production of items
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How are depreciation keys defined?
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Under a free economy ,prices are:
a)Regulated
b)Determined through free interplay of demand and supply
c)Partly Regulated
d)None of these
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In which type of economy do consumers and producers make their choices based on the market forces of demand and supply?
a)Open Economy
b)Controlled Economy
c)Command Economy
d)Market Economy
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A study of how increase in the corporate income tax rate will affect the natural unemployment rate is an example of:
a)Macro Economics
b)Descriptive Economics
b)Micro Economics
d)Normative Economics
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