Business Economics
181. A firm that is the sole seller of a product without close substitutes called:
- Monopoly
- Oligopoly
- Competition
- Bureaucracy
Correct answer: (A)
Monopoly
182. Where boom ends, ______________ starts
- Recovery
- Recession
- Progress
- Depression
Correct answer: (B)
Recession
183. ______________ product will never be zero or negative
- Marginal
- Total
- Average
- All the above
Correct answer: (C)
Average
184. Which of the following is not a variable input?
- Raw material
- Power
- Equipment
- None of these
Correct answer: (C)
Equipment
185. Which is not a property of ISOQUANT?
- Downward sloping
- Convex
- Negative slope
- Positive slope
Correct answer: (D)
Positive slope
186. The term "Economies" refers to
- Product advantage
- Cost advantage
- Sales advantage
- All of the above
Correct answer: (B)
Cost advantage
187. Which of the following is not coming under imperfect competition?
- Oligopoly
- Duopoly
- Monopoly
- Monopolistic
Correct answer: (C)
Monopoly
188. Selling at a lower price in export market and at a higher price at home market is called
- Export subsidy
- Dumping
- Price cut
- All the above
Correct answer: (B)
Dumping
189. Modern definition is also called as
- Growth definition
- Welfare definition
- scarcity definition
- Neoclassical definition
Correct answer: (A)
Growth definition
190. "A rupee tomorrow is worth less than a rupee today" relates to
- Opportunity cost principle
- Discounting principle
- Equi‐marginal principle
- None of these
Correct answer: (B)
Discounting principle