Business Economics

121. Cinema Theater, telephone bills etc.. are following

1. Full cost pricing
2. Marginal cost pricing
3. Differential pricing
4. Mark up pricing

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122. The factors used in the production

1. Land and labor
2. capital & entrepreneurship
3. both a&b
4. only capital

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123. Which is the feature of perfect competition?

1. Large number of buyers and sellers
2. Freedom of entry and exit
3. Normal profit in the long run
4. All of these

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124. The concept of monopsony was invented by:

1. Marshall
2. AP. Learner
3. Chamberlin
4. Mrs. J. Robinson

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125. Which is/are the salient features of monopolistic competition?

1. Large number of sellers
2. Normal profit
3. Free entry and exit of firms in industry
4. All of these

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126. A cost that has already been committed and cannot be recovered known as:

1. Sunk cost
2. Total cost
3. Full cost
4. Variable cost

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127. The claim that, other things equal, the quantity supplied of a goods rises when the price of goods raises known as:

1. Law of economics
2. Law of supply
3. Law of demand
4. All of these

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128. In business cycle concept, the period (approximately) of "Kit chin cycle" is of:

1. 5 years
2. 10 months
3. 2 years
4. 4 months

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129. The demand curve of a firm in the case of perfect competition is:

1. Parallel to output axis
2. Increasing with the output axis
3. Decreasing with the output axis
4. Complete

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130. Which factors is/are influencing price policy?

1. Cost of product
2. Time factor
3. Government policy
4. All of these

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