Discussion
Home ‣ General Knowledge ‣ Indian Economy Comments
- Question
Economic resources are also called
- Correct Answer
- Economic resources include land, labour, capital and entrepreneurship Entrepreneurship is also considered an economic resource because individuals are responsible for creating businesses and moving economic resources in the business environment These economic resources are also called as Factors of production
- 1. The law of demand states that other things equal
Options- A. as the price increases, the quantity demanded will decrease.
- B. as the price increases, the quantity demanded will increase.
- C. as the price decreases, the demand curve will shift to the right.
- D. as the price increases, the demand will decrease. Discuss
- 2. An increase in the quantity demanded means that
Options- A. The demand curve shifted to right
- B. Price of the product has declined
- C. Increase in consumer income
- D. All the above Discuss
- 3. Income taxes are allocated to
Options- A. discontinued operations
- B. prior period adjustments
- C. extraordinary items
- D. All the above Discuss
- 4. Is CST applicable on freight charges? Discuss
- 5. Which of the following represents 'I' in the abbreviation IRDP
Options- A. Integrated
- B. Indian
- C. Insurance
- D. Internal Discuss
- 6. In the expansion phase of a business cycle
Options- A. economy moves from peak to trough
- B. economy moves from contraction to peak
- C. economy moves from trough to peak
- D. economy moves from trough to trough Discuss
- 7. Which of the following is a microeconomic statement?
Options- A. The price of personal computers declined last year.
- B. Unemployment was 6.8 percent of the labor force last year.
- C. The real domestic output increased by 2.5 percent last year.
- D. The general price level increased by 4 percent last year. Discuss
- 8. The production possibilities curve illustrates the basic principle that
Options- A. if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.
- B. the production of more of any one good will in time require smaller and smaller sacrifices of other goods.
- C. an economy will automatically obtain full employment of its resources.
- D. an economy's capacity to produce increases in proportion to its population size. Discuss
- 9. A government subsidy to the producers of a product
Options- A. reduces product demand
- B. increases product supply
- C. reduces product supply
- D. increases product demand Discuss
- 10. Which property would be classified as expendable?
Options- A. Food given to Army
- B. Cement
- C. Paint
- D. All of the above Discuss
Indian Economy problems
Search Results
Correct Answer: as the price increases, the quantity demanded will decrease.
Correct Answer: All the above
Correct Answer: All the above
Explanation:
Income taxes are allocated to extraordinary items, discontinued operations and prior period adjustments.
Correct Answer: CST is not payable on outward freight (if charged separately) and outward insurance if property in goods passes to buyer at the time of despatch It means that Sale price does not include Freight charges will not attract CST when shown separately in they Invoice But goods & freight show in one invoice CST will attractive
Correct Answer: Integrated
Correct Answer: economy moves from trough to peak
Explanation:
Business cycles are identified as having four distinct phases:
1. Expansion,
2. Peak,
3. Contraction, and
4. Trough.
Expansion is the phase of the business cycle when the economy moves from a trough to a peak. It is a period when the level of business activity surges and gross domestic product (GDP) expands until it reaches a peak. A period of expansion is also known as an economic recovery.
An expansion is characterized by increasing employment, economic growth, and upward pressure on prices.
Correct Answer: The price of personal computers declined last year.
Correct Answer: if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.
Explanation:
A graph that describes the maximum amount of one good that can be produced for every possible level of production of the other good is nothing but a production possibilities curve.
Correct Answer: increases product supply
Correct Answer: All of the above
Explanation:
Expendable properties are those properties that are consume in use or that lose their identity in use. It also include those properties that become an integral part of other property when put to use and those properties which have an expected service life of less than one year.
Comments
There are no comments.More in General Knowledge:
Programming
Copyright ©CuriousTab. All rights reserved.