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- Question
The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?
Options- A. Macroeconomics
- B. Econometrics
- C. Microeconomics
- D. Heterodox Economics
- Correct Answer
- Microeconomics
- 1. In a market system, the central problems regarding how much and what to produce are solved through the coordination of economic activities brought about by ________ signals.
Options- A. Supply
- B. Demand
- C. Price
- D. Stock Market Discuss
- 2. The __________ exchange rate is the relative price of foreign goods in terms of domestic goods.
Options- A. Artificial
- B. Nominal
- C. Fixed
- D. Real Discuss
- 3. __________ 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
- 4. Credit Rationing in India is done by
Options- A. RBI
- B. SBI
- C. LIC
- D. Finance Ministry Discuss
- 5. 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
- 6. If the breakeven quantity for a factory whose variable cost of manufacturing a cell is Rs. 15 and selling price is Rs. 24 is 2,400 units, find the fixed cost of the factory?
Options- A. Rs. 21600
- B. Rs. 36000
- C. Rs. 57600
- D. Rs. 14400 Discuss
- 7. An increase in the growth rate of the nominal money supply results in
Options- A. Lower rate of inflation
- B. Higher rate of inflation
- C. Lower interest rates
- D. Currency appreciation Discuss
- 8. In perfect competition a firm maximizes profit by _____.
Options- A. setting price such that price is equal to or greater than its marginal costs
- B. setting output such that price equals average total costs
- C. setting output such that price equals marginal costs
- D. setting price so that it is greater than marginal cost Discuss
- 9. Match the characteristics with their market structure: (a) Differentiated products, but close substitutes for consumers so their demand curves are elastic (b) Homogeneous product, all goods are perfect substitutes for consumers
Options- A. (a) Monopolistic Competition, (b) Pure Competition
- B. (a) Monopolistic Competition, (b) Pure Monopoly
- C. (a) Pure Monopoly, (b) Pure Competition
- D. (a) Pure Monopoly, (b) Pure Competition Discuss
- 10. Identify the Indian state which has the lowest sex ratio
Options- A. Haryana
- B. Punjab
- C. Uttar Pradesh
- D. Arunachal Pradesh Discuss
Indian Economy problems
Search Results
Correct Answer: Price
Correct Answer: Real
Correct Answer: Law of diminishing marginal product
Correct Answer: RBI
Correct Answer: Inferior goods
Correct Answer: Rs. 21600
Correct Answer: Higher rate of inflation
Correct Answer: setting output such that price equals marginal costs
Correct Answer: (a) Monopolistic Competition, (b) Pure Competition
Correct Answer: Haryana
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