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Question 32
A
managerial inefficiency  
B
increased resource-cost  
C
large market  
D
inefficient business environment  
E
technology  
Explanation.
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Correct Option:
C

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Question 33
A
doubling inputs brings about more than proportionate increase in output  
B
doubling inputs leads to a doubling of output  
C
doubling input brings about less than proportionate increase in output  
D
decrease in profit  
E
increase in revenue  
Explanation.
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Correct Option:
C

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Question 34
A
obtaining maximum output from available resources  
B
equitable distribution of nation’s resources  
C
carrying out production without any waste  
D
producing the maximum output from available resources at the lowest possible cost  
E
efficient utilisation of the nation’s resources.  
Explanation.
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Correct Option:
D

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Question 35
A
the advantages accruing to firm as a result of its expansion  
B
the advantages accruing to one firm as a result of the existence of other firms in the same locality  
C
benefits derived by a firm as a result of its own external economies policy  
D
economies reaped only by firms that are externally focused  
E
bound to increase the cost of production  
Explanation.
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Correct Option:
B

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Question 36
A
increasing costs  
B
economies of scale  
C
decreasing returns  
D
decreasing costs  
E
none of the above  
Explanation.
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Correct Option:
B

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Question 37
A
Goods are produced in the factories  
B
Goods are sold to the wholesaler  
C
Goods and services are produced by the government  
D
Prices are fixed for goods and services  
E
Goods and services finally reach the consumer  
Explanation.
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Correct Option:
E

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Question 38
A
profitable to the production process  
B
purchased for the purpose of production  
C
combined in the production process  
D
produced adequately for the production process  
E
brought into factory  
Explanation.
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Correct Option:
C



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