Economics (UI) | Study Mode

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Question 31
A
implicit cost
B
real cost
C
opportunity cost
D
due cost
E
explicit cost
Explanation

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Correct option: E
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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 nations 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 nations 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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Question 39
A
inefficient
B
possible
C
with increased output
D
x-efficient
E
pareto-compliant
Explanation

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Correct option: A
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Question 40
A
factor procurement
B
manufacturing
C
investment
D
industrialisation
E
production
Explanation

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Correct option: E

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