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- Question
The demand curve facing a perfectly competitive firm is
- Correct Answer
- Demand curve is the relationship between price and quantity of product In perfect competition, the demand curve for the product by a firm is perfectly elastic at maket price
- 1. An increase in the price level will cause a _ the aggregate demand curve.
Options- A. shift up
- B. shift left
- C. shift right
- D. None of the above Discuss
- 2. Which one of the following is the maximum age of joining National Pension System (NFS) under the NFS Private Sector?
Options- A. 55 years
- B. 60 years
- C. 65 years
- D. 70 years Discuss
- 3. A major purpose of cost accounting is to
Options- A. measure, record and report product costs
- B. classify all the product costs
- C. to provide information to stockholders for investment decisions
- D. All of the above Discuss
- 4. A market is said to be in equilibrium when
Options- A. There is downward pressure on price
- B. The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price
- C. All buyers are able to find sellers willing to sell to them at the current price
- D. Supply equals demand Discuss
- 5. The primary goal of a business firm is to
Options- A. maximize profit
- B. increase its production
- C. make a quality product
- D. promote workforce job satisfaction Discuss
- 6. What is the best definition of the term cottage industry?
Options- A. goods are produced at home
- B. group of cottages that serves as factory
- C. people of same colony work at same place
- D. people work at industries leaving their homes Discuss
- 7. The factors that affect worker productivity include
Options- A. expenditures for best practices training
- B. base pay increases
- C. the size of incentive payments per non-defective pair
- D. All of the above Discuss
- 8. The partnership form of business organization is
Options- A. only two shares
- B. more than two shares
- C. no share
- D. doesn't exist Discuss
- 9. The market structure called monopoly exists where there is exactly ______ seller in any market.
Options- A. 1
- B. 2
- C. 5
- D. 10 Discuss
Business Awareness problems
Search Results
Correct Answer: shift up
Explanation:
An increase in the price level will cause a movement up the aggregate demand curve.
Correct Answer: 65 years
Explanation:
In continuance of the several initiatives under taken by Pension Fund Regulatory and Development Authority (PFRDA) during the last few years to increase the pension coverage in the country, PFRDA has now increased the maximum age of joining under NPS-Private Sector (i.e. All Citizen and Corporate Model) from the existing 60 years to 65 years of age.
Now, any Indian Citizen, resident or non-resident, between the age of 60-65 years, can also join NPS and continue up to the age of 70 years in NPS. With this increase of joining age, the subscribers who are willing to join NPS at the later stage of life will be able to avail the benefits of NPS.
Correct Answer: measure, record and report product costs
Explanation:
A major purpose of cost accounting is to measure, record and report product costs.
Correct Answer: Supply equals demand
Explanation:
A market is said to be in equilibrium when market demand is equal to market Supply.
Correct Answer: maximize profit
Explanation:
The primary goal of a business firm is to maximize profit.
Correct Answer: goods are produced at home
Explanation:
Cottage industry is a manufacturing activity of people operated at home. The handcrafts which were sold in the society are examples of cottage industy products. It is a small scale industry in which the labor force is mostly family members or individuals.
Correct Answer: All of the above
Explanation:
The factors that affect worker productivity include the size of incentive payments per non-defective pair, base pay increases, how favorably a company's compensation package compares with the industry-average compensation package, and expenditures for best practices training.
Correct Answer: more than two shares
Explanation:
A partnership is a form of business where two or more people share ownership.
Correct Answer: 1
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