BCOM ECO-1 MCQ's




Question 331 :
_____ explains the relationship between demand for a commodity and it determinants.

  1. Demand
  2. Supply function
  3. Demand function
  4. Supply
  

Question 332 :
The _____ method uses time series data.

  1. Sample survey
  2. Delphi
  3. Laboratory experimentation
  4. Trend
  

Question 333 :
There are no limitations to BEA.

  1. TRUE
  2. FALSE
  

Question 334 :
The demand curve is _____ elastic.

  1. Unirary
  2. perfectly
  3. Relatively
  4. None of these
  

Question 335 :
Long-run average cost decline as output expands due to :

  1. Good management
  2. Technological advancement
  3. Economics of scale
  4. Spread of fixed costs
  

Question 336 :
Demand forecasting will help to determine sales target.

  1. TRUE
  2. FALSE
  

Question 337 :
Economies of scope is possible when two or more goods are produced.

  1. TRUE
  2. FALSE
  

Question 338 :
Total cost is summation of AVC and AFC.

  1. TRUE
  2. FALSE
  

Question 339 :
A linear demand function implies proportionate demand behaviour.

  1. TRUE
  2. FALSE
  

Question 340 :
Marginal cost is an ______ cost.

  1. Total cost
  2. fixed cost
  3. All of the above
  4. Additional
  

Question 341 :
Expert opinion is a _____.

  1. Survey method
  2. Statistical method
  3. both a and b
  4. none of the above
  

Question 342 :
When TR > TC, it indicates ______ zone of a firm

  1. Loss
  2. Profit
  3. All of the above
  

Question 343 :
The _____ method uses time series data.

  1. Trend
  2. Statistical
  3. Survey
  4. None of these
  

Question 344 :
The market demand curve slopes _____.

  1. upwards
  2. Horizontal
  3. Vertical
  4. downward
  

Question 345 :
A vertical straight line demand curve implies ______ degree of price elasticity.

  1. Positive
  2. Negative
  3. None ot these
  4. zero
  

Question 346 :
Business economics is applicable to several area of business.

  1. TRUE
  2. FALSE
  

Question 347 :
_____ refers to the integration of economic theory with business practice.

  1. Business economics
  2. Managerial economics
  3. business planning
  4. None of these
  

Question 348 :
_____ is concerned with planning and control of capital expenditure.

  1. Capital management
  2. Profit management
  3. Market management
  4. None of these
  

Question 349 :
Explicit costs are called as the accounting costs.

  1. TRUE
  2. FALSE
  

Question 350 :
BEA helps in determining the optimum level of output.

  1. TRUE
  2. FALSE
  

Question 351 :
Incremental cost is called as avoidable cost.

  1. TRUE
  2. FALSE
  

Question 352 :
The concept of elasticity of demand has no useful application.

  1. TRUE
  2. FALSE
  

Question 353 :
A case of increase in demand, supply remaining unchanged, the equilibrium price _____.

  1. rises
  2. falls
  3. constant
  4. none of these
  

Question 354 :
The market demand curve slopes _____ from left to right.

  1. downward
  2. upward
  3. horizontal
  4. vertical
  

Question 355 :
Application of automotive devices with expanding scale of operation leads to :

  1. Industrial economy
  2. Technical economy
  3. External economy
  4. Technical force
  

Question 356 :
Economic cost is equal to explicit cost minus implicit cost.

  1. TRUE
  2. FALSE
  

Question 357 :
The scale of production can varied only in the ______.

  1. reduction
  2. none of there
  

Question 358 :
______ is the total cost per unit of output.

  1. fixed cost
  2. Total cost
  3. All of the above
  4. Average cost
  

Question 359 :
The fundamental difference between economic cost and accounting cost is :

  1. Conditional
  2. Pyschological
  3. Academic
  4. Implicity and Explicity
  

Question 360 :
Money cost is the payment made for the factors in terms of money.

  1. TRUE
  2. FALSE
  
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