[{"id":106673,"question":"In May 2012, firm was supplying 1000 kg of sugar at market price of Rs. 60/- per kg. During June 2012, firm's supply of sugar had decreased to 900 kg at price Rs. 40/- per kg. These changes show that supply of sugar is","choices":[{"text":"Perfectly elastic","value":"A"},{"text":"Perfectly inelastic","value":"B"},{"text":"Less elastic","value":"C"},{"text":"More elastic","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":106672,"question":"Market Price of Perishable","choices":[{"text":"Commodities","value":"A"},{"text":"Utility","value":"B"},{"text":"Consumer","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106671,"question":"Market equilibrium means a situation where","choices":[{"text":"Q<sub>s</sub>= Q<sub>d</sub>","value":"A"},{"text":"Q<sub>s</sub>= Q<sub>p</sub>","value":"B"},{"text":"Q<sub>d</sub>= Q<sub>p</sub>","value":"C"},{"text":"Q<sub>q</sub>= Q<sub>p</sub>","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106670,"question":"______ is a science which is concerned with the collection, presentation, and interpretation of numerical data","choices":[{"text":"Statistics","value":"A"},{"text":"Economics analysis","value":"B"},{"text":"Function","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106669,"question":"How many kinds of Function","choices":[{"text":"2","value":"A"},{"text":"3","value":"B"},{"text":"4","value":"C"},{"text":"5","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106668,"question":"Constant are represented by symbol","choices":[{"text":"C","value":"A"},{"text":"V","value":"B"},{"text":"P","value":"C"},{"text":"U","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106667,"question":"Variable are represented by symbol","choices":[{"text":"V","value":"A"},{"text":"U","value":"B"},{"text":"P","value":"C"},{"text":"C","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":106666,"question":"A ______ is something which is measurable and can take on different values","choices":[{"text":"Variable","value":"A"},{"text":"Constant","value":"B"},{"text":"Both a and b","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100729,"question":"Profits arise","choices":[{"text":"only in monopoly","value":"A"},{"text":"because of uncertainty","value":"B"},{"text":"shortage of goods","value":"C"},{"text":"like interest","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100728,"question":"He put forward the theory of profit","choices":[{"text":"Keynes","value":"A"},{"text":"Adam Smith","value":"B"},{"text":"Knight","value":"C"},{"text":"Anyson","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100727,"question":"Gross profit includes","choices":[{"text":"monopoly profit","value":"A"},{"text":"pure profit","value":"B"},{"text":"windfall profit","value":"C"},{"text":"all of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100726,"question":"This is not a function of the entrepreneur","choices":[{"text":"supervise","value":"A"},{"text":"innovate","value":"B"},{"text":"lend money","value":"C"},{"text":"prepare plan","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100725,"question":"According to Prof. Knight risks are of ...... kinds","choices":[{"text":"2","value":"A"},{"text":"3","value":"B"},{"text":"4","value":"C"},{"text":"many","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100724,"question":"Risks in the business arise because of","choices":[{"text":"introduction of the new products","value":"A"},{"text":"uncertain policy of rival firms","value":"B"},{"text":"changes in tastes","value":"C"},{"text":"all the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100723,"question":"Some economists say that profit earner is a kind of","choices":[{"text":"rent receiver","value":"A"},{"text":"interest receiver","value":"B"},{"text":"wage earner","value":"C"},{"text":"govt. officer","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100722,"question":"Gross profit does NOT include","choices":[{"text":"rent of his own land","value":"A"},{"text":"interest of his own capital","value":"B"},{"text":"pure profit","value":"C"},{"text":"taxes","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100721,"question":"Profits","choices":[{"text":"are like wages","value":"A"},{"text":"are like interest","value":"B"},{"text":"always depend upon chance","value":"C"},{"text":"none of the above is true","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100720,"question":"Profits arise because an entrepreneur","choices":[{"text":"prepares plan","value":"A"},{"text":"innovates","value":"B"},{"text":"lends money","value":"C"},{"text":"a and b of above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100719,"question":"Profits","choices":[{"text":"are necessary","value":"A"},{"text":"are unnecessary","value":"B"},{"text":"can never be negative","value":"C"},{"text":"are illegal","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100718,"question":"Profits","choices":[{"text":"are lower in the long run than in the short run","value":"A"},{"text":"can be 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