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English
Economics
History & Civics
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Question-1
If existing firms earns super normal profits, it would ______________
(A)
Not attract firms
(B)
Attract frims
(C)
Number of firms remains same
(D)
None of these
Question-2
The leftward shift in the supply curve of the industry with unchanged market demand curve leads to _______________
(A)
Rise in price
(B)
Fall in price
(C)
Price remain same
(D)
None of these
Question-3
The customers are charged with _________________ price under monopoly than under perfect competition.
(A)
Less
(B)
Greater
(C)
Same output
(D)
None of these
Question-4
In the short run when AR is equal to AC, the firms earns _________________
(A)
Normal profit
(B)
Super normal profit
(C)
Losses
(D)
None of these
Question-5
Price =AR=MR is a condition of equilibrium under _______________ market situation.
(A)
Monopolistic competition
(B)
Monopoly
(C)
Perfect competition
(D)
Oligopoly
Question-6
In the short run when AR is less than AC, the firm earns ___________________
(A)
Normal profit
(B)
Super normal profit
(C)
Losses
(D)
None of these
Question-7
_______________ would not be able to take the advantages of economies of scale.
(A)
Monopolist
(B)
Perfect competitior
(C)
Oligopolies
(D)
None of these
Question-8
Under monopoly, price would be greater than ________________
(A)
MR
(B)
MC
(C)
AR
(D)
None of these
Question-9
The rightward shift in the supply curve of the industry with increased market demand curve leads to ______________
(A)
Rise in price
(B)
fall in price
(C)
Price remains same
(D)
None of these
Question-10
A firm in long run under perfect competition earns only _________________ profits.
(A)
Normal profit
(B)
Super normal profit
(C)
Losses
(D)
None of these
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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
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