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Perfect competition
2. Public enterprises may incur some 2. Yet they may constitute a market over
social costs telephone or through internet
3. The buyers and sellers may be 3. Cost of transportation does not exist
away from each other and
4. Under perfect competition, it is 4. Cost of transportation does exist
assumed that the
5. Monopolistic competition
True
False
17. The externality which causes an economic gain or an economic loss to other
economic units is also referred to as externality.
21. The use of a good by one more member of the society does not reduce its
availability to others. This applies in case of :-
a) Private good
Pure public good
b
Impure public good
)
Pure private good
c)
d
)
27. Factors leading to differences in the economic & the traditional concepts of
valuation are :-
a) Inventory Valuation
Depreciation
b Unaccounted value changes in the assets & liabilities
) Costs
c)
d
)
37. One of the serious limitations of market mechanism is that it results in distribution
of income and wealth which is :-
a) Equal
Unequal
b Absolutely equal
) Optimum
c)
d
)
45.
53. Substantial reduction in the cost of production of a firm because of the use of
improved and up-to-date machinery is an example of economy known as :-
a) Commercial
Managerial
b Financial
) Technical
c)
d
)
LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Your Answer Addition to the real capital assets , It leads to increase in level of
income , It increases supply immediately
Correct Answer Related to few hours or few days , Related to perishable goods ,
The entire supply is to be disposed off on the same day
Your Answer Related to few hours or few days , Related to perishable goods ,
The entire supply is to be disposed off on the same day
True/False
Question Griffin goods are superior goods.
True
False
. During Nineties & Eighties, the CRR was raised from 6% to statutory maximum of .
8.
a) Centrally directed
Planned
b
Planless
)
Socialist
c)
d
)
15.
a) Increases
Decreases
b
Is not at all affected
)
Is postponed
c)
d
)
a) Is Price taker
Is Price maker
b
Is Price organizer
)
Does not take part in determination of price
c)
d
)
44. The direct form in which the Government intervenes with private business is .
True/False
Question Macro economic studies are based on empirical evidence.