B.COM ECO-1 MCQ's




Question 421 :
Private cost is included in ______.

  1. All of the above
  2. Price
  

Question 422 :
Fixed costs are ______ cost.

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

Question 423 :
Marginal cost is also referred as ______.

  1. Supplementary
  2. fixed cost
  3. All of the above
  4. Incremental cost
  

Question 424 :
______ curve is regarded as the long-run planning device.

  1. None of these
  2. LAC
  

Question 425 :
______ is the summation of TFC and TVC.

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

Question 426 :
______ is the total cost per unit of output.

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

Question 427 :
The scope of business economics cover all major aspects of _____ analysis.

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

Question 428 :
Fixed cost is regarded as ______ cost

  1. unavoidable
  2. variable
  3. avoidable
  4. none of the above
  

Question 429 :
______ is not related to the level of output

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

Question 430 :
______ are direct contractual monetary payments incurred through market transactions.

  1. Fixed cost
  2. None of these
  3. Explicit costs
  4. total cost
  

Question 431 :
Electricity charges, sales tax etc. are examples of ______ cost.

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

Question 432 :
Environmental distraction is a ______ cost.

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

Question 433 :
A firm’s ______ is the sum of total fixed costs and total variable cost at each level of output

  1. Average fixed cost
  2. Average variable cost
  3. Total cost
  4. None of these
  

Question 434 :
______ 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 435 :
______ is obtained by dividing TC by the level of output produced

  1. Average fixed cost
  2. Average variable
  3. Total fixed cost
  4. Average total cost
  

Question 436 :
The price determination theories in different market conditions enable the firm to solve the _____ problems.

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

Question 437 :
A break-even analysis is essentially a typical case of required profit analysis where the required profit is ______

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

Question 438 :
______ costs are incorporated in the firm’s total cost of production.

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

Question 439 :
In long–run all costs are ______.

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

Question 440 :
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 441 :
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 442 :
Marginal cost is an ______ cost.

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

Question 443 :
______ cost consists of only those payments which are actually made by the firm.

  1. variable
  2. Accounting
  3. Average
  4. None of these
  

Question 444 :
Break-even analysis at break-even point indicates ______ profit

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

Question 445 :
Under constant costs conditions LAC and LMC curves tend to ______.

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

Question 446 :
______ type of iso-quant assumes perfect substitutability.

  1. Leontief iso-quant
  2. Kinked iso-quant
  3. Linear iso-quant
  4. Smooth convex iso-quant
  

Question 447 :
______ was initially called as the law of diminishing returns.

  1. law of variable proportion
  2. none of there
  

Question 448 :
Economies of scale lead to ______ in cost of production.

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

Question 449 :
BEA at break-even point indicate ______ profit.

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

Question 450 :
BEA help the firm to determine ______ for a given level of output.

  1. Maximum cost
  2. Average cost
  3. None of the above
  4. minimum cost
  
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