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- Question
If for a perfectly competitive firm, price is Rs. 60, output is 300 units, average variable costs are Rs. 18, and average total costs are Rs. 36. The firm's profits are equal to
Options- A. Rs. 5400
- B. Rs. 3600
- C. Rs. 7200
- D. Rs. 1800
- Correct Answer
- Rs. 7200
- 1. The second Green Revolution aims at increasing agricultural output to promote
Options- A. Availability of easy credit to big farmers
- B. Co-operative farming
- C. Inclusive growth
- D. Development of rural sector Discuss
- 2. Which of the following is the correct description of the term sex-ratio as used in the context of the census of population?
Options- A. Number of males per 1000 females.
- B. Number of females per 1000 males.
- C. Number of females per 100 males.
- D. Number of females in a sample of 1000 persons. Discuss
- 3. Birth rate in a country is defined as
Options- A. Number of births per 100 in 1 year
- B. Number of births per 1000 in 1 year
- C. Number of births per km of area in 1 year
- D. Number of births per 100 km of area in 1 year Discuss
- 4. A commodity market has a _________ structure, if there is one seller of the commodity, the commodity has no substitute, and entry into the industry by another firm is prevented.
Options- A. Perfect Competition
- B. Monopoly
- C. Oligopoly
- D. Monopolistic Competition Discuss
- 5. Match the characteristics with their market structure: (a) Price > MC in both short and long run (b) Faces highly elastic demand
Options- A. (a) Monopolistic competition, (b) Pure competition
- B. (a) Pure Monopoly, (b) Monopolistic competition
- C. (a) Pure competition, (b) Monopolistic competition
- D. (a) Oligopoly, (b) Pure competition Discuss
- 6. If at a price, market supply is greater than market demand, we say that there is ________ in the market at that price.
Options- A. Equilibrium
- B. Excess Demand
- C. Excess Supply
- D. Marginal Revenue Discuss
- 7. The State Financial Corporations have given assistance mainly to develop___________.
Options- A. agriculture farms
- B. cottage industries
- C. medium and small-scale industries
- D. large scale industries Discuss
- 8. Goods for which demand move in the opposite direction of the income of the consumer are called?
Options- A. Inferior goods
- B. Normal goods
- C. Complementary goods
- D. Substitute goods Discuss
- 9. Credit Rationing in India is done by
Options- A. RBI
- B. SBI
- C. LIC
- D. Finance Ministry Discuss
- 10. __________ says that if we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output (i.e., marginal product of that input) will start falling.
Options- A. Law of diminishing marginal product
- B. Law of variable proportions
- C. The Short Run
- D. The Long Run Discuss
Indian Economy problems
Search Results
Correct Answer: Inclusive growth
Correct Answer: Number of females per 1000 males.
Correct Answer: Number of births per 1000 in 1 year
Correct Answer: Monopoly
Correct Answer: (a) Pure Monopoly, (b) Monopolistic competition
Correct Answer: Excess Supply
Correct Answer: medium and small-scale industries
Correct Answer: Inferior goods
Correct Answer: RBI
Correct Answer: Law of diminishing marginal product
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