| 1 |
Which one is increasing function of price |
- A. demand
- B. utility
- C. supply
- D. consumption
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| 2 |
The long run average cost curve is tangent to various |
- A. short run TCs
- B. short run ACs
- C. AVCs
- D. AFCs
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| 3 |
In production of goods, negative returns in the short run imply that |
- A. average product is negative
- B. total product is negative
- C. marginal product is negative
- D. marginal cost is falling
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| 4 |
The human effort applied to the production of goods is called in economics |
- A. labour
- B. skill
- C. experience
- D. services
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| 5 |
Factors of production are recently termed as. |
- A. Output
- B. Outly
- C. Input
- D. None of them
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| 6 |
A mechanism, or arrangement, which brings together buyers together buyers and sellers of particular goods or services are called |
- A. Market
- B. Revenue curve
- C. Contact
- D. None of these
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| 7 |
All the products which are priced in the market are. |
- A. Non economic products
- B. Economic products
- C. Private products
- D. Public products
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| 8 |
Land as used in economics |
- A. is a free gift of nature
- B. is unlimited in quantity
- C. is not hirable
- D. excludes oceans
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| 9 |
An economic unit, which is independent to take decisions regarding the production and sale of goods are called |
- A. Firm
- B. Organization
- C. Both a and b
- D. None of these
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| 10 |
Extent of market mainly depends upon. |
- A. Availability of means of transport and communication
- B. Nature of supply
- C. Government restriction
- D. Perishable goods
|