Business Economics

181. A firm that is the sole seller of a product without close substitutes called:

  1. Monopoly
  2. Oligopoly
  3. Competition
  4. Bureaucracy
Correct answer: (A)
Monopoly

182. Where boom ends, ______________ starts

  1. Recovery
  2. Recession
  3. Progress
  4. Depression
Correct answer: (B)
Recession

183. ______________ product will never be zero or negative

  1. Marginal
  2. Total
  3. Average
  4. All the above
Correct answer: (C)
Average

184. Which of the following is not a variable input?

  1. Raw material
  2. Power
  3. Equipment
  4. None of these
Correct answer: (C)
Equipment

185. Which is not a property of ISOQUANT?

  1. Downward sloping
  2. Convex
  3. Negative slope
  4. Positive slope
Correct answer: (D)
Positive slope

186. The term "Economies" refers to

  1. Product advantage
  2. Cost advantage
  3. Sales advantage
  4. All of the above
Correct answer: (B)
Cost advantage

187. Which of the following is not coming under imperfect competition?

  1. Oligopoly
  2. Duopoly
  3. Monopoly
  4. Monopolistic
Correct answer: (C)
Monopoly

188. Selling at a lower price in export market and at a higher price at home market is called

  1. Export subsidy
  2. Dumping
  3. Price cut
  4. All the above
Correct answer: (B)
Dumping

189. Modern definition is also called as

  1. Growth definition
  2. Welfare definition
  3. scarcity definition
  4. Neoclassical definition
Correct answer: (A)
Growth definition

190. "A rupee tomorrow is worth less than a rupee today" relates to

  1. Opportunity cost principle
  2. Discounting principle
  3. Equi‐marginal principle
  4. None of these
Correct answer: (B)
Discounting principle
Page 19 of 33