[{"id":100594,"question":"Laws of return apply to firms working in","choices":[{"text":"perfect competition","value":"A"},{"text":"monopoly","value":"B"},{"text":"small firm","value":"C"},{"text":"all kinds of market situations","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100593,"question":"Economics of scale are of two kinds","choices":[{"text":"temporary and permanent","value":"A"},{"text":"internal and external","value":"B"},{"text":"managerial and industrial","value":"C"},{"text":"natural and artificial","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100592,"question":"In law of diminishing returns at least one factor","choices":[{"text":"must be constant","value":"A"},{"text":"must be owned by the firm","value":"B"},{"text":"must be purchasable","value":"C"},{"text":"must be efficient","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100591,"question":"Economies of scale","choices":[{"text":"occur when increase in input less than proportionate increase in output","value":"A"},{"text":"suggest that firm's marginal cost curve lies above its average cost curve","value":"B"},{"text":"suggest that the firm's marginal cost curve is declining","value":"C"},{"text":"occur when average cost is falling","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100590,"question":"In production of goods, negative returns in the short run imply that","choices":[{"text":"average product is negative","value":"A"},{"text":"total product is negative","value":"B"},{"text":"marginal product is negative","value":"C"},{"text":"marginal cost is falling","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100589,"question":"WAPDA is a","choices":[{"text":"public corporation","value":"A"},{"text":"public company","value":"B"},{"text":"private company","value":"C"},{"text":"partnership","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100588,"question":"The word \"LIMITED\" at the end of a firm's name means","choices":[{"text":"it produces only commodity","value":"A"},{"text":"has limited capital","value":"B"},{"text":"cannot have more than 100 members","value":"C"},{"text":"shareholders liability to pay debt of firm cannot exceed value of their investment","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100587,"question":"A person who contributes funds in partnership but does not take active part in management of business is called","choices":[{"text":"sleeping partner","value":"A"},{"text":"helping partner","value":"B"},{"text":"temporary partner","value":"C"},{"text":"inactive partner","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100586,"question":"A joint stock company has","choices":[{"text":"limited liability","value":"A"},{"text":"unlimited liability","value":"B"},{"text":"limited capital","value":"C"},{"text":"unlimited capital","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100585,"question":"If a public limited company issues bonds to increase resources, then it pays","choices":[{"text":"fixed premium to bond holders","value":"A"},{"text":"fixed interest to bond holders","value":"B"},{"text":"fixed tax to bond holders","value":"C"},{"text":"fixed profit to bond holders","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100584,"question":"A public corporation comes into existence by means","choices":[{"text":"registration under the Companies Act","value":"A"},{"text":"Act of parliament","value":"B"},{"text":"decision by the shareholders","value":"C"},{"text":"registration with the Stock Exchange","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100583,"question":"It is an example of public limited company","choices":[{"text":"WAPDA","value":"A"},{"text":"President House","value":"B"},{"text":"SHELL petroleum","value":"C"},{"text":"none of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100582,"question":"Reward of which factor of production is not pre-determined?","choices":[{"text":"labour","value":"A"},{"text":"land","value":"B"},{"text":"capital","value":"C"},{"text":"organisation","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100581,"question":"They can expand their business by selling shares in the stock market","choices":[{"text":"proprietor of a business","value":"A"},{"text":"partners of the business","value":"B"},{"text":"joint stock company","value":"C"},{"text":"industrial cooperative societies","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100580,"question":"A public limited company is run by","choices":[{"text":"board of governors","value":"A"},{"text":"board of managers","value":"B"},{"text":"board of advisor's","value":"C"},{"text":"board of directors","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100579,"question":"It is most suitable for large scale business","choices":[{"text":"proprietorship","value":"A"},{"text":"partnership","value":"B"},{"text":"corporation","value":"C"},{"text":"cooperative society","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100578,"question":"He prepares the initial plan of the business","choices":[{"text":"capitalist","value":"A"},{"text":"manager","value":"B"},{"text":"entrepreneur","value":"C"},{"text":"officer","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100577,"question":"Limited liability is one of the advantages of","choices":[{"text":"partnership","value":"A"},{"text":"sole proprietor","value":"B"},{"text":"joint stock company","value":"C"},{"text":"cooperative society","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100576,"question":"Those who invest in joint stock companies are called","choices":[{"text":"partners","value":"A"},{"text":"shareholders","value":"B"},{"text":"members","value":"C"},{"text":"associates","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100575,"question":"An entrepreneur is a person who performs the dual function of risk-taking and control. This is the definition of","choices":[{"text":"Prof. Knight","value":"A"},{"text":"Prof. Marshall","value":"B"},{"text":"Prof. Robbins","value":"C"},{"text":"Prof. Knees","value":"D"},{"value":"E"}],"correctAnswer":1}]