Business Economics

161. In perfect completion, a firm is a

  1. Price maker
  2. Price taker
  3. Both of the above
  4. None of these
Correct answer: (B)
Price taker

162. Which of the following is not a feature of monopolistic completion?

  1. Large number of producers
  2. Free entry and exit
  3. More elastic demand
  4. Price competition
Correct answer: (D)
Price competition

163. The famous book on economics “An Enquiry into the Nature and Cause of Wealth of Nation” was Written by

  1. Alfred Marshall
  2. Adam Smith
  3. J M Keynes
  4. ACPigou
Correct answer: (B)
Adam Smith

164. Welfare (neo classical) definition of economics is given by

  1. J B Say
  2. Lionel Robbins
  3. Adam Smith
  4. Alfred Marshall
Correct answer: (D)
Alfred Marshall

165. The author of the book "The General Theory of Employment, Interest and Money"

  1. Alfred Marshall
  2. Adam Smith
  3. J M Keynes
  4. ACPigou
Correct answer: (C)
J M Keynes

166. ______________ is micro economic theory

  1. Demand theory
  2. Price theory
  3. Income theory
  4. None of these
Correct answer: (B)
Price theory

167. Managerial economics is also called

  1. Micro economics
  2. Theory of the firm
  3. Economics of the firm
  4. All of the above.
Correct answer: (D)
All of the above.

168. Basic economic tools of managerial economics does not include

  1. Principle of time perspective
  2. Equi‐marginal principle
  3. Incremental principle
  4. None of these
Correct answer: (D)
None of these

169. The demand has three essentials‐Desire, Purchasing power and ______________

  1. Quantity
  2. Cash
  3. Supply
  4. Willingness to purchase
Correct answer: (D)
Willingness to purchase

170. In the above function, the letters Ps stands for

  1. Preference of consumers
  2. Price of commodity
  3. Price of substitutes
  4. Product supply
Correct answer: (C)
Price of substitutes
Previous
Page 17 of 33
Next