Question # 1

During 2005-06 maize was grown on an area of 982 thousand hectares and its production was:

3.5 million tones

4.2 million tones

5.2 million tones

6.7 million tones

In monopoly, which of the following is NOT true?

Products are differentiated

There is freedom of entry and exit into the industry in the long run

The firm is a price maker

There is one main seller

Reward for capital is called:

Rent

Interest

Wages

Profit

In 2005-06, the crop area of sugarcane in thousand hectares was:

540

642

756

907

The market structure in which strategic considerations are most important is:

Monopolistic competition.

Oligopoly.

Pure competition.

Pure monopoly.

The economy gets prosperity during:

Recession

Boom

Depression

Recovery

NAT II Management Science Economy MCQs With Answers