Q.1
The shape of PPC is concave due to
Q.2
Which of the following is not the name of LAC curve?
Q.3
Which of the following is a cause of an economic problem?
Q.4
Calculate income elasticity for the household when the income of a household rises by 10% and the demand for Rice rises by 5%.
Q.5
Positive income elasticity implies that as income rises, demand for the commodity
Q.6
A firm under perfect competition will be making minimum losses (in the short run) at a point where
Q.7
Which of the following is not a feature of perfect competition?
Q.8
When two goods are perfect substitutes of each other, then
Q.9
In the long run, normal profits are included in the _____ curve
Q.10
_____ is an implicit cost of production
Q.11
According to Joseph Schumpeter, profit is the reward for
Q.12
Demand for final consumption arises in
Q.13
If quantity demanded is completely unresponsive to changes in price, demand is
Q.14
A mixed economy is characterized by the co-existence of
Q.15
Which of the following is NOT a feature of iso-product curve? Iso-product curves
Q.16
This is an assumption of law of demand
Q.17
If elasticity of demand is very low, it shows that the commodity is
Q.18
An increase in the supply of a commodity is caused by
Q.19
Which of the following is Microeconomics concerned with?
Q.20
Which of the following is also known as plant curves?
Q.21
Other things equal, if a good has more substitutes, its price elasticity of demand is
Q.22
An economic theory is
Q.23
What is the shape of the average fixed cost (AFC) curve?
Q.24
A decrease in demand causes the equilibrium price to
Q.25
Who is the 'lender of the last resort' in the banking structure of India?
Q.26
____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks
Q.27
Microeconomics deals with the
Q.28
Some economists refer to iso-product curves as
Q.29
When price is below equilibrium level, there will be
Q.30
The following are causes of shift in demand EXCEPT
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