The amount which a factor unit will earn in its next best alternative employment.

Economics Quizz

Quiz
•
Others
•
12th Grade
•
Hard
Vishwajeet Naik
FREE Resource
39 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
(A)
(B)
(C)
(D)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The type of goods in which income effect is positive and price effect is negative are
Substitute goods
Complimentary goods
Opportunity cost
Total cost
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a firm has TR =50 and TC=30. Then what will be the profit?
80
60
None of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the percentage change in both supply and price is equal then what would be the elasticity of supply?
Greater than 1
Unit elastic
Less than one
Equal to zero
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not an example of a Microeconomic variable?
Income of a Consumer
Supply of a commodity by a firm
Demand for a commodity by a family
National income
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a firm sells a larger quantity at uniform price, then, Total Revenue:
increases at a falling rate
increases at a rising rate
increases at a Constant rate
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not included in M,?
Cash currency held by the public
Other deposits with RBI
National savings certificates
Demand deposits at banks
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