BCOM ECO-1 MCQ's




Question 211 :
The slope of long-run cost curve is influenced by :

  1. The artist
  2. Managerial economy
  3. Economics and diseconomics of scale
  4. Input-output technical relationship
  

Question 212 :
Moving averages can be used to measure a _______ .

  1. Trade cycle
  2. Raulan
  3. Trend
  4. All of the above
  

Question 213 :
With the division of labour specialisation leads to technological economics

  1. TRUE
  2. FALSE
  

Question 214 :
Shift in the demand curve to the left will increase the equilibrium price.

  1. TRUE
  2. FALSE
  

Question 215 :
Break-even analysis is used to determine how much quantity of its product it must sale to :

  1. Make profit
  2. Break-even
  3. Maximise profit
  4. None of the above
  

Question 216 :
An _____ firm does not face a definite demand curve.

  1. Monopolistic competition
  2. Monopoly
  3. Perfect Competition
  4. Oligopoly
  

Question 217 :
Economies of scale lead to ______ in cost of production.

  1. None of these
  2. long run
  3. Short run
  

Question 218 :
_____ cover topics such as cost concepts, methods of estimating costs etc.

  1. Production analysis
  2. Supply analysis
  3. Cost analysis
  4. Demand analysis
  

Question 219 :
______ costs are incorporated in the firm’s total cost of production.

  1. Social
  2. Private
  3. fixed
  4. None of these
  

Question 220 :
As price generate income to the firm, _____ are important for business economics.

  1. pice fixation
  2. Production analysis
  3. pricing practices
  4. None of these
  

Question 221 :
______ is the total expenditure incurred by the firm in producing a given level of output.

  1. Average fixed cost
  2. None of these
  3. total cost
  4. fixed cost
  

Question 222 :
Demand analysis and forecasting is essential for _____.

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

Question 223 :
Private cost is included in ______.

  1. All of the above
  2. Price
  

Question 224 :
Under consumer’s survey method opinion of different expert are collected.

  1. TRUE
  2. FALSE
  

Question 225 :
Production refers to :

  1. Production function
  2. Creation of utilities
  3. Producing output
  4. Transformation
  

Question 226 :
Break-even point of a chart indicates :

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

Question 227 :
______ was initially called as the law of diminishing returns.

  1. law of variable proportion
  2. none of there
  

Question 228 :
Business economies is now termed as _____.

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

Question 229 :
The point at which the quantity demanded equals supplied is the _____.

  1. total supply
  2. total demand
  3. equilibrium point
  4. none of these
  

Question 230 :
The demand curve for an oligopoly firm is indeterminate.

  1. TRUE
  2. FALSE
  

Question 231 :
Which of the following can be expected to have a flatter demand curve?

  1. Petrol
  2. Salt
  3. Plasma TV
  4. All of the above
  

Question 232 :
Marginal cost is a U-shape curve

  1. TRUE
  2. FALSE
  

Question 233 :
If an increase in the price of product X does not change its total sales revenue, the manager should infer that the demand for X is :

  1. Undeterminable
  2. Unitary elastic
  3. Relatively inelastic
  4. Perfectly inelastic
  

Question 234 :
If elasticity of demand (e) < 1, then marginal revenue is always ______.

  1. Positive
  2. Negative
  3. Zero
  4. None of these
  

Question 235 :
______ is the functional relationship between physical input and output.

  1. Management function
  2. production function
  3. Labour function
  4. None of these
  

Question 236 :
______ economies causing downward shift of the LAC curve.

  1. External
  2. Internal
  3. None of these
  

Question 237 :
Commodities which requires a large portion of consumer’s income tend to have ______ demand.

  1. perfectly elastic
  2. Zero
  3. inelastic
  4. elastic
  

Question 238 :
The short–run AVC curve moves upward owing to :

  1. Increasing returns to scale
  2. Rising overhead costs
  3. Diseconomies
  4. Diminishing returns
  

Question 239 :
Promotion elasticity is always positive.

  1. TRUE
  2. FALSE
  

Question 240 :
Under consumer survey method the consumers are interviewed directly.

  1. TRUE
  2. FALSE
  
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