| 1 |
Which of the following is one of the assumptions of perfect competition. |
- A. few buyers and few sellers
- B. many buyers and few sellers
- C. many buyers and many sellers
- D. all sellers and buyers are honest
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| 2 |
Efficiency of labour is not affected by |
- A. attitude of worker
- B. attitude of employer
- C. attitude of wife/husband
- D. all affect
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| 3 |
One of the following NOT a assumption of the marginal productivity theory |
- A. units of factor are homogeneous
- B. mobility of factor
- C. low price of factor
- D. perfect competition
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| 4 |
Which one is the assumption of law of demand? |
- A. price of the commodity should not change
- B. quantity demand should not change
- C. income of the consumer should not change
- D. none of the above
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| 5 |
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be |
- A. equal
- B. unequal
- C. increasing
- D. decreasing
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| 6 |
This is <i>NOT</i> the result of specialization |
- A. increased production
- B. improvement in quality of product
- C. increase in cost of production
- D. increase in trade
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| 7 |
Which laws are always subjected to certain conditions. |
- A. Social
- B. Political
- C. Moral
- D. Economic
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| 8 |
In economic capital refers to |
- A. money
- B. high quality goods
- C. trade mark
- D. machinery and factories
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| 9 |
In which form the largest percentage of national income is earned |
- A. interest income
- B. proprietor's income
- C. employees' income
- D. rental income
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| 10 |
Which of the following is a producer good |
- A. pen
- B. cycle
- C. mobile phone
- D. hammer
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