Test Details

Report

Business Economics

Dec 09, 2:35 PM

60 minutes

Dec 09, 3:35 PM

50.0 marks

MCQ

50 questions

STEPS ACADEMY

CA/CS/CMA foundation 11th, 12th Commerce and Science B. com

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Question Text

Question 1 :
In a perfectly competitive market, if MR is greater than MC, then a firm should:

Question 5 :
Certain goods for which Quantity demanded decreases when Income Increases are called___.

Question 6 :
When the price of cylinder rises from ₹120 to ₹200, the demand falls from 300 to 200. Calculate price elasticity of demand.

Question 8 :
If the price of a commodity is fixed, then with every increase in its sold quantity the total revenue will and the marginal revenue will .

Question 10 :
In which type of economy do consumers and producers make their choices based on the market forces of demand and supply?

Question 12 :
Under which of the following market structure AR of the firm will be equal to MR?

Question 15 :
When AR = ₹10 and AC = ₹8 the firm makes .

Question 18 :
In case of luxury goods, the income elasticity of demand will be___.

Question 19 :
MR Curve = AR = Demand Curve is a feature of which kind of market?

Question 22 :
The MR curve cuts the horizontal line between Y axis and demand curve into:

Question 23 :
Under Monopolistic competition the cross elasticity of demand for the product of a single firm would be:

Question 24 :
Peaks and troughs of the business cycles are known collectively as:

Question 27 :
Which amongst the following is not an objective of price discrimination?

Question 28 :
Which of the following is not the feature of an imperfect competition?

Question 30 :
A consumer spends ₹80 on purchasing a commodity when its price is ₹1per unit and spends ₹96 when the price is ₹2 per unit. Calculate the price elasticity of demand.

Question 31 :
The firm will attain equilibrium at a point where MC curve cuts from below.

Question 32 :
In which among the following systems the ‘right to property’ exists

Question 33 :
Price discrimination will not be profitable, if the elasticity of demand is ______ in different markets.

Question 34 :
At the time of Great Depression of 1930, GDP fell around:

Question 35 :
Other things remaining constant, if the price of the inferior goods decreases then what will be the effect?

Question 36 :
Under which market Condition firms make only normal profits in the long run?

Question 39 :
Under which of the following form of market structure does a firm have no control over the price of its production?

Question 40 :
The firm in a perfectly competitive market is a price taker. This designation as a price taker is based on the assumption that:

Question 41 :
In the 'kinked-demand' curve model, the upper portion of the demand curve is:

Question 44 :
Calculate income elasticity for the household when the income of the household increases by 10% and the demand for cars rises by 20%.

Question 47 :
Which of the following is a part of the subject matter of macro economics?

Question 48 :
In a perfectly competitive market, if MR is greater than MC, then a firm should-

Question 49 :
The price discrimination under monopoly will be possible under which of the following conditions?

Question 50 :
Under which Market Situation demand curve is linear and parallel to X axis:

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