B.COM ECO-1 MCQ's




Question 301 :
When TC > TR it indicate profit zone.

  1. TRUE
  2. FALSE
  

Question 302 :
The demand curve is _____ elastic.

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

Question 303 :
Y-axis.

  1. TRUE
  2. FALSE
  

Question 304 :
In Linear Break-even analysis, total fixed cost is a vertical straight line parallel to

  1. TRUE
  2. FALSE
  

Question 305 :
The MC curve intersects AC curve at its ______ point from below.

  1. minimum
  2. Maximum
  3. None of these
  

Question 306 :
With an increase in supply, demand remaining unchanged, the equilibrium price _____.

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

Question 307 :
______ is the cost that has already been incurred and which cannot be recovered

  1. Fixed cost
  2. Sunk cost
  3. Private cost
  4. Social cost
  

Question 308 :
The point at which quantity demand equals to supply is the _____.

  1. equilibrium point
  2. none of these
  

Question 309 :
Shift in the supply curve to the left will _____ the equilibrium price.

  1. no effect
  2. increase
  3. decreased
  4. none of these
  

Question 310 :
______ is not related to the level of output

  1. Total cost
  2. Total variable cost
  3. Total fixed cost
  4. average cost
  

Question 311 :
______ is attributed to the diseconomies of scale after a certain point of further expansion.

  1. Increasing LAC
  2. decreasing LAC
  3. All of the above
  

Question 312 :
The break-even-chart graphically shows cost and revenue relation.

  1. TRUE
  2. FALSE
  

Question 313 :
Business economies is now termed as _____.

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

Question 314 :
_____ explains the relationship between demand for a commodity and it determinants.

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

Question 315 :
The monopoly firm faces a _____ demand curve.

  1. veritcle
  2. Upward slopping
  3. Kinked
  4. downward sloping
  

Question 316 :
Which of the following curves is used for planning ______

  1. SAC
  2. SMC
  3. LAC
  4. LMC
  

Question 317 :
______ causes LAC curve to rise

  1. Internal economies
  2. Economies and diseconomies
  3. External diseconomies
  4. External economies
  

Question 318 :
The _____ is determined by the interaction of market demand and supply.

  1. market price
  2. equilibrium point
  3. none of these
  

Question 319 :
An _____ firm does not face a definite demand curve.

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

Question 320 :
Learning curve was developed by ______.

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

Question 321 :
Break-even analysis compare total revenue with ______.

  1. Total cost
  2. Average cost
  3. marginal cost
  4. None of the above
  

Question 322 :
The Break-even analysis is meant to put a break on the production.

  1. TRUE
  2. FALSE
  

Question 323 :
BEA at break-even point indicate ______ profit.

  1. Heavy loss
  2. Large profit
  3. None of the above
  4. zero
  

Question 324 :
_____ 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 325 :
Break-even analysis is also referred to as ______.

  1. Cost-volume-profit analysis
  2. None of the above
  

Question 326 :
______ refers to the extent to which the firm can permit a decline in sales before it starts incurring losses.

  1. safety margin
  2. None of the above
  

Question 327 :
Break-even analysis compares total ______ and total cost, graphically and algebraically.

  1. Revenue
  2. average variable cost
  3. Average cost
  4. None of the above
  

Question 328 :
The Learning curve slopes downward showing a ______ in the cost per unit of output.

  1. increase
  2. decline
  3. both (a) and (b)
  4. None of these
  

Question 329 :
Break-even point of a chart indicates ______.

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

Question 330 :
The market demand curve slopes _____.

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