Smartindia Classroom
CONTENTS
English
Economics
History & Civics
Back to home
Start Practice
Question-1
____________ are the main producers of commodities and principal buyers of factors services.
(A)
Firm
(B)
Monopolist
(C)
Oligopolies
(D)
None of these
Question-2
An increase in supply is grater than the increase in demand, the equilibrium price tends to ________.
(A)
increase
(B)
decrease
(C)
remains same
(D)
None of these
Question-3
Economic activity is concerned with _________________
(A)
Population
(B)
Use of scare resources
(C)
Unlimited resources
(D)
Mis-management of resources
Question-4
When the difference TR is greater than TC leads to __________________
(A)
Normal profit
(B)
Super ormal profit
(C)
Normal loss
(D)
None of these
Question-5
When the difference between TR and TC is large _________________ would be the maximum.
(A)
Profit
(B)
sales
(C)
Growth
(D)
Cost
Question-6
______________ is an economic entity which employs factors of production to produce goods and sell in the market.
(A)
Firm
(B)
Industry
(C)
Group of firms
(D)
None of these
Question-7
Which one is a profit maximization condition?
(A)
MC>MR
(B)
MC < MR
(C)
MC=MR
(D)
None of these
Question-8
TR curve is a straight line from the __________________
(A)
Top of X axis
(B)
End of Y axis
(C)
Origin
(D)
None of these
Question-9
Fall in the positive pure profits induce producer to ________________
(A)
Allocate less resources
(B)
make less investments
(C)
No incentives for earning higher profits
(D)
All of these
Question-10
The difference between total cost and total revenue of the firm is ________________
(A)
Profit
(B)
sales
(C)
Growth
(D)
None of these
Your Score 0/10
Click
here
to see your answersheet and detailed track records.
Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
Powered By
