Business Economics

41. Whenever ______________ is greater than average total cost, average total cost is rising.

1. Marginal cost
2. Variable cost
3. Fixed cost
4. Full cost

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42. Which of the following is not a macroeconomic concept?

1. Business cycle
2. National income
3. Government policy
4. None of these

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43. Iso-cost line indicate the price of

1. Output
2. Inputs
3. Finished goods
4. Raw material

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44. Who classified economies of scale into internal and external?

1. Robinson
2. Marshall
3. Edward west
4. Pigue

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45. Product differentiation is the important feature of

1. monopoly
2. perfect competition
3. monopolistic competition
4. monophony

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46. 13th Finance Commission has been constituted under the chairmanship of:

1. C.Rangarajan
2. Vijay L Kelkar
3. Deepak Parekh
4. Indira Bhargara

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47. Method of demand forecasting is also called "economic model building"

1. Opinion survey
2. Complete enumeration
3. Correlation and regression
4. Delphi method

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48. The responsiveness of demand due to a change in promotional expenses is called

1. Expenditure elasticity
2. Advertisement elasticity
3. Promotional elasticity
4. Above b or c

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49. Want satisfying power of commodity is called

1. Demand
2. Utility
3. Satisfaction
4. Consumption

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50. The relationship between price and quantity demanded is

1. Direct
2. Inverse
3. Linear
4. Non‐linear

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