BCOM ECO-1 MCQ's




Question 271 :
_____ enables the manger to become a more competent model builder.

  1. Indian economy
  2. Business economics
  3. macro–economics
  4. micro–economic
  

Question 272 :
Functional relationship is denoted by symbol ‘P’.

  1. TRUE
  2. FALSE
  

Question 273 :
The break-even point is influenced by ______.

  1. price
  2. average variable cost
  3. fixed cost
  4. all of the above
  

Question 274 :
______ is known as no profit no loss point

  1. point of origin
  2. Marginal point
  3. Break-even point
  4. none of the above
  

Question 275 :
Which is the cause of the rightward shift of the demand curve for cars?

  1. An increase in income
  2. An increase in population size
  3. Lower prices of petrol
  4. All of the above
  

Question 276 :
In zero income elasticity, change in income has not effect on demand.

  1. TRUE
  2. FALSE
  

Question 277 :
Which of the following is a case of linear demand function?

  1. Dx = f (Px)
  2. Dx = f (Px , Py)
  3. Dx = a + b Px + L
  4. Dx = 100 – 5 Px
  

Question 278 :
Electricity charges, sales tax etc. are examples of ______ cost.

  1. Fixed
  2. Variable
  3. Private
  4. Social
  

Question 279 :
The BEA provides an understanding of the functional relationship among cost, revenue and output rate.

  1. TRUE
  2. FALSE
  

Question 280 :
The LAC curve is referred as the envelope curve.

  1. TRUE
  2. FALSE
  

Question 281 :
Internal economies causes LAC curve to rise

  1. TRUE
  2. FALSE
  

Question 282 :
The rent of a factory is an example of ______

  1. variable cost
  2. fixed cost
  3. both a and b
  4. Neither a nor b
  

Question 283 :
Business economics is the economics of business.

  1. TRUE
  2. FALSE
  

Question 284 :
The BEA is useful to the Prime Minister of collusion government.

  1. TRUE
  2. FALSE
  

Question 285 :
Shift in the supply curve to the left will increase the equilibrium price

  1. TRUE
  2. FALSE
  

Question 286 :
The point of tangency between iso-cost line and iso-quant is the point of producer’s equilibrium.

  1. TRUE
  2. FALSE
  

Question 287 :
Fixed costs are ______ cost.

  1. Prime
  2. Incrementalt
  3. All of the above
  4. Supplementary
  

Question 288 :
_____ refers to the total quantities of commodity offered for sale by all in producers.

  1. equilibrium price
  2. Market demand
  3. None of these
  4. market supply
  

Question 289 :
The market supply schedule shows _____ relationship between price and quantity supplied.

  1. inverse
  2. direct
  3. no
  4. none of these
  

Question 290 :
Inputs in the process of production refers to :

  1. The employment
  2. The use of factors of production
  3. Anything in a factory
  4. None of the above
  

Question 291 :
______ is attributed to the multi–product cost function.

  1. Economies of scope
  2. Diseconomies of scale
  3. Economies of scale
  4. None of these
  

Question 292 :
Addition made to total product by adding on extra unit of labour is defined as the _____ of labour.

  1. marginal product
  

Question 293 :
Learning curve was developed by ______.

  1. LAC curve
  2. K. J. Arrow
  3. None of these
  

Question 294 :
Internal economics enjoyed by an individual firm.

  1. TRUE
  2. FALSE
  

Question 295 :
A short-run average cost curve is known as ______.

  1. All of the above
  2. Plant curve
  

Question 296 :
The scope of business economics cover all major aspects of _____ analysis.

  1. macro–economics
  2. micro–economic
  3. Business economic
  4. Indian economy
  

Question 297 :
Fixed costs refer to Labour costs.

  1. TRUE
  2. FALSE
  

Question 298 :
Break-even point of a chart indicates ______.

  1. Large profit
  2. Heavy loss
  3. Zero profit
  4. All of the above
  

Question 299 :
An exogenous variable is within an economic model.

  1. TRUE
  2. FALSE
  

Question 300 :
Statistical method is more frequently used to estimate demand.

  1. TRUE
  2. FALSE
  
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