• Economics Quiz – 4

    31 In a perfect competitive market, all the buyers and sellers have ________ knowledge about the market
      A) Partial
      B)  Perfect
      C) Imperfect
      D) None of these
       
    32 Demand curve is mainly
      A) Horizontal to X-Axis
      B)  Vertical to X-Axis
      C) Downward Sloping
      D) Upward Sloping
       
    33 Supply curve is mainly
      A) Horizontal to X-Axis
      B)  Vertical to X-Axis
      C) Downward Sloping
      D) Upward Sloping
       
    34 Costs fixed with the number of products developed?
      A) Fixed Cost
      B)  Operational Cost
      C) Incremental Cost
      D) Variable Cost
       
    35 Monopoly is a situation where
      A) There are large number of sellers
      B)  There is only one big seller
      C) There are large number of buyers
      D) There is only one Buyer
       
    36 Minimum salary imposed by different is a perfect example of?
      A) Price Ceiling
      B)  Price Floor
      C) Subsidy
      D) quota
       
    37 Effect of subsidy of supply curve?
      A) Shift the supply curve upwards
      B)  Shift the supply curve downwards
      C) Has no effect on supply curve
      D) Increases the slope of the supply curve
       
    38 The cost which a firm can earn if its invest the same amount in the next most valuable use is called?
      A) Implicit Cost
      B)  Explicit Cost
      C) Economic profit
      D) Opportunity Cost
       
    39 The business with only one owner and unlimited liability is termed as?
      A) Partnership
      B)  Corporation
      C) Proprietorship
      D) None of these
       
    40 The business with multiple stakeholders and limited liability to the invested money is termed as?
      A) Partnership
      B)  Corporation
      C) Proprietorship
      D) None of these

     

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