Business Studies/Business Economics MCQ Part 2 Sample Test,Sample questions

Question:
 Imperfect competition was introduced by ����-

1.variable cost

2.Chamberlin

3.Keynes

4.None


Question:
 Imperfect competition was introduced by ����-

1.variable cost

2.Chamberlin

3.Keynes

4.None


Question:
 In cross elasticity of demand  for unrelated goods the demand curve will be��-

1.Horizontal straight line

2.rectangular hyperbola

3.vertical line

4.none of the above


Question:
 In cross elasticity of demand  for unrelated goods the demand curve will be��-

1.Horizontal straight line

2.rectangular hyperbola

3.vertical line

4.none of the above


Question:
 The short run is a time period in which ��-

1.all resources are fixed

2.the level of output is fixed

3.the size of the production plant is variable

4.some resources are fixed and others are variable


Question:
 The short run is a time period in which ��-

1.all resources are fixed

2.the level of output is fixed

3.the size of the production plant is variable

4.some resources are fixed and others are variable


Question:
 Which of the following are not related to factors of production(FOP)

1.land

2.capital

3.raw material

4.labour


Question:
 Which of the following are not related to factors of production(FOP)

1.land

2.capital

3.raw material

4.labour


Question:
A distinguishing characteristic of monopolistic competition is ������

1.Large number of firms

2.Low entry barriers

3.product standardisation

4.product differentiation


Question:
A distinguishing characteristic of monopolistic competition is ������

1.Large number of firms

2.Low entry barriers

3.product standardisation

4.product differentiation


Question:
A graph showing all the combination of capital and labour available for a given total cost is the ��-

1.isoquant

2.budget constraint

3.isocost line

4.expenditure set


Question:
A graph showing all the combination of capital and labour available for a given total cost is the ��-

1.isoquant

2.budget constraint

3.isocost line

4.expenditure set


Question:
An LAC curve is not known as �����

1.Envelope curve

2.Planning curve

3.operating curve

4.plant curve


Question:
An LAC curve is not known as �����

1.Envelope curve

2.Planning curve

3.operating curve

4.plant curve


Question:
car and petrol are �- goods

1.substitutes

2.complementary

3.producers

4.None of the above


Question:
car and petrol are �- goods

1.substitutes

2.complementary

3.producers

4.None of the above


Question:
Cartel is a part of ������

1.Monopoly

2.Oligopoly

3.Duopoly

4.Perfect competition


Question:
Cartel is a part of ������

1.Monopoly

2.Oligopoly

3.Duopoly

4.Perfect competition


Question:
Cobb Douglas production function mainly studies ���

1.capital and labour

2.labour and expenditure

3.land and labour

4.land and capital


Question:
Cobb Douglas production function mainly studies ���

1.capital and labour

2.labour and expenditure

3.land and labour

4.land and capital


Question:
Concentration of monopoly is implemented under ������

1.FERA

2.MRTP

3.FEMA

4.None


Question:
Concentration of monopoly is implemented under ������

1.FERA

2.MRTP

3.FEMA

4.None


Question:
Gradual long term movement in time series data is called ���

1.Seasonal variation

2.cycles

3.trends

4.exponential variation


Question:
Gradual long term movement in time series data is called ���

1.Seasonal variation

2.cycles

3.trends

4.exponential variation


Question:
If firms can neither enter nor leave an industry  the relevant time period is the ���

1.Short run

2.Intermediate run

3.Immediate run

4.none


Question:
If firms can neither enter nor leave an industry  the relevant time period is the ���

1.Short run

2.Intermediate run

3.Immediate run

4.none


Question:
Implicit costs are ——-

1.equal to total fixed costs

2.comprised entirely of variable costs

3.payments for self-employed resources

4.always greater in the short run than in the long run


Question:
Implicit costs are ��-

1.equal to total fixed costs

2.comprised entirely of variable costs

4.always greater in the short run than in the long run


Question:
In case of monopoly  a firm in the long run can have �����

1.Loss

2.Profit

3.Supernormal profit

4.All of the above


Question:
In case of monopoly  a firm in the long run can have �����

1.Loss

2.Profit

3.Supernormal profit

4.All of the above


Question:
In perfect competition equilibrium is attained when ������

1.AR = AC

2.TR=TC

3.MR=MC

4.Q=P


Question:
In perfect competition equilibrium is attained when ������

1.AR = AC

2.TR=TC

3.MR=MC

4.Q=P


Question:
In sample survey method �� technique is adopted

1.deliberate

2.convenience

3.quota

4.random


Question:
In sample survey method �� technique is adopted

1.deliberate

2.convenience

3.quota

4.random


Question:
In the Law of variable proportion when TP is maximum then the MP = ��

1.MP = 1

2.MP<0

3.MP=0

4.MP>!


Question:
In the Law of variable proportion when TP is maximum then the MP = ��

1.MP = 1

2.MP<0

3.MP=0

4.MP>!


Question:
Inthe short run as economists use the phrase is characterised by ��-

1.all inputs being variable

2.a period where the law of diminishing return does no hold

3.at least one fixed factor of production and firms neither leaving nor entering the industry

4.no variable inputs


Question:
Inthe short run as economists use the phrase is characterised by ��-

1.all inputs being variable

2.a period where the law of diminishing return does no hold

3.at least one fixed factor of production and firms neither leaving nor entering the industry

4.no variable inputs


Question:
�- input factor is divided as skilled  semiskilled  unskilled

1.land

2.capital

3.Technology

4.labour


Question:
�- input factor is divided as skilled  semiskilled  unskilled

1.land

2.capital

3.Technology

4.labour


Question:
�- is the remuneration for organisation

1.rent

2.wages

3.interest

4.profit


Question:
�- is the remuneration for organisation

1.rent

2.wages

3.interest

4.profit


Question:
�� costs are business costs which do not involve any cash payments but for them a provision is made in accounts

1.private cost

2.social cost

3.accounting cost

4.book cost


Question:
�� costs are business costs which do not involve any cash payments but for them a provision is made in accounts

1.private cost

2.social cost

3.accounting cost

4.book cost


Question:
�� Economics views on reducing the production costs

1.internal

2.inventory

3.pecuniary

4.External


Question:
�� Economics views on reducing the production costs

1.internal

2.inventory

3.pecuniary

4.External


Question:
kinked demand curve is associated with ������

1.Cournot

2.Chamberlin

3.Edgeworth

4.Sweezy


Question:
kinked demand curve is associated with ������

1.Cournot

2.Chamberlin

3.Edgeworth

4.Sweezy


Question:
Marginal cost curve cuts the average cost curve �����

1.at the left of its lowest point

2.at its lowest point

3.at the right of its lowest point

4.at its highest point


Question:
Marginal cost curve cuts the average cost curve �����

1.at the left of its lowest point

2.at its lowest point

3.at the right of its lowest point

4.at its highest point


Question:
Marginal cost is defined as

1.change in total cost due to change in output

2.total cost divided by output

3.change in output due to a change in an input

4.total product divided by the quantity of input


Question:
Marginal cost is defined as

1.change in total cost due to change in output

2.total cost divided by output

3.change in output due to a change in an input

4.total product divided by the quantity of input


Question:
Marginal cost means ��������

1.Substitutional cost

2.addition to the total cost

3.multiplication to the total cost

4.variable cost


Question:
Marginal cost means ��������

1.Substitutional cost

2.addition to the total cost

3.multiplication to the total cost

4.variable cost


Question:
Miroeonomi theory is lso known s ��
 
 

1.usiness Theory

2.ost Theory

3. Iniviul Theory

4. Prie Theory


Question:
Miroeonomi theory is lso known s ��
 
 

1.usiness Theory

2.ost Theory

3. Iniviul Theory

4. Prie Theory


Question:
Money paid to an unskilled labour is called �����

1.Wages

2.Salary

3.Royalty

4.None


Question:
Money paid to an unskilled labour is called �����

1.Wages

2.Salary

3.Royalty

4.None


Question:
Passive factor of production is ��-

1.only land

2.only capital

3.both land and capital

4.neither land nor capital


Question:
Passive factor of production is ��-

1.only land

2.only capital

3.both land and capital

4.neither land nor capital


Question:
Reasons for increasing return in stage I of law of variable proportion is ���

1.Indivisibility

2.Specialisation

3.both a and b

4.none of the above


Question:
Reasons for increasing return in stage I of law of variable proportion is ���

1.Indivisibility

2.Specialisation

3.both a and b

4.none of the above


Question:
Supply is a function of ��

1.a straight line

2.a parabolaL

3.a hyperbola

4.convex to the origin


Question:
Supply is a function of ��

1.a straight line

2.a parabolaL

3.a hyperbola

4.convex to the origin


Question:
Tea and coffee are �� goods

1.substitutes

2.complementary

3.producers

4.none of the above


Question:
Tea and coffee are �� goods

1.substitutes

2.complementary

3.producers

4.none of the above


Question:
The cost with which the concept of marginal cost is closely related

1.variable cost

2.fixed cost

3.opportunity cost

4.economic cost


Question:
The cost with which the concept of marginal cost is closely related

1.variable cost

2.fixed cost

3.opportunity cost

4.economic cost


Question:
The costs that depend on output in the short run are ��-

1.total variable costs only

2. both total variable costs and total costs

3.total costs only

4.total fixed cost only


Question:
The costs that depend on output in the short run are ��-

1.total variable costs only

2. both total variable costs and total costs

3.total costs only

4.total fixed cost only


Question:
The formula for average fixed costs is ���-

1.TFC/Q

2.DQ/DFC

3.Q/TFC

4.TFC � Q


Question:
The formula for average fixed costs is ���-

1.TFC/Q

2.DQ/DFC

3.Q/TFC

4.TFC � Q


Question:
The supply of a product does not depend on ��-

1.labour costs

2.the number of sellers in the market

3.consumers tastes

4.existing technology


Question:
The supply of a product does not depend on ��-

1.labour costs

2.the number of sellers in the market

3.consumers tastes

4.existing technology


Question:
The supply of a product does not depend on ��-

1.labour costs

2.the number of sellers in the market

3.consumers tastes

4.existing technology


Question:
The supply of a product does not depend on ��-

1.labour costs

2.the number of sellers in the market

3.consumers tastes

4.existing technology


Question:
The total outlay method explains the relationship between price and ��A 

1.demand

2.supply

3.expenditure

4.income


Question:
The total outlay method explains the relationship between price and ��A 

1.demand

2.supply

3.expenditure

4.income


Question:
The upper portion of the kinked demand curve is relatively �����

1.More inelastic

2.More elastic

3.Less elastic

4.Less inelastic


Question:
The upper portion of the kinked demand curve is relatively �����

1.More inelastic

2.More elastic

3.Less elastic

4.Less inelastic


Question:
The vertical difference between TVC and TC is equal to ��

1.MC

2.AVC

3.TFC

4.none


Question:
The vertical difference between TVC and TC is equal to ��

1.MC

2.AVC

3.TFC

4.none


Question:
Time-series data may exhibit which of the following behaviours?

1.Trend

2.Random variation

3.Seasonality

4.Cycles


Question:
Time-series data may exhibit which of the following behaviours?

1.Trend

2.Random variation

3.Seasonality

4.Cycles


Question:
Variable costs are ��������

1.Sunk costs

2.Multiplied by fixed cost

3.Cost that change with the level of productio

4.the change in total cost resulting from the production of an additional unit of output


Question:
Variable costs are ��������

1.Sunk costs

2.Multiplied by fixed cost

3.Cost that change with the level of productio

4.the change in total cost resulting from the production of an additional unit of output


Question:
What are homogenous products?

1.Undifferentiated products

2.Differentiated products

3.Both (a) and (b)

4.None


Question:
What are homogenous products?

1.Undifferentiated products

2.Differentiated products

3.Both (a) and (b)

4.None


Question:
When the total product curve is falling  ���-

1.marginal product curve is zero

2.marginal product curve is negative

3.average product is increasing

4.average product is negative


Question:
When the total product curve is falling  ���-

1.marginal product curve is zero

2.marginal product curve is negative

3.average product is increasing

4.average product is negative


Question:
Which factor of production is considered as fixed input

1.labour

2.technology

3.capital

4.land


Question:
Which factor of production is considered as fixed input

1.labour

2.technology

3.capital

4.land


Question:
Which of the following is correct?

1.TC = TFC+TVC

2.TFC=TC-TVC

3.TVC=TC-TFC

4.None of the above


Question:
Which of the following is correct?

1.TC = TFC+TVC

2.TFC=TC-TVC

3.TVC=TC-TFC

4.None of the above


Question:
Which of the following is not present in a time series?

1.Seasonality

2.operational variations

3.trend

4.random variations


Question:
Which of the following is not present in a time series?

1.Seasonality

2.operational variations

3.trend

4.random variations


Question:
Which of the following techniques uses variables such as price and promotional expenditures  which are
related to the product demand  to predict demand

1.Associative models

2.exponential smoothing

3.weighted moving average

4.simple moving average


Question:
Which of the following techniques uses variables such as price and promotional expenditures  which are
related to the product demand  to predict demand

1.Associative models

2.exponential smoothing

3.weighted moving average

4.simple moving average


Question:
Whih will use  hnge in the emn for goo X?
  

1.hnge in tste

2. hnge in Inome

3. hnge in the prie of X

4. hnge in the prie of omplementry prout


Question:
Whih will use  hnge in the emn for goo X?
  

1.hnge in tste

2. hnge in Inome

3. hnge in the prie of X

4. hnge in the prie of omplementry prout


More MCQS

  1. Business Studies-[Class 11-MCQ ]-Chapter 1- Nature and Purpose of Business
  2. Business Studies-[Class 11-MCQS ]-Chapter 2 Forms of Business Organisation
  3. Business Studies-[Class 11-MCQS ]-Chapter 3 Private, Public and Global Enterprises
  4. Business Studies-[Class 11-MCQS ]-Chapter 4 Business Services
  5. Business Studies-[Class 11-MCQS ]-Chapter 5 Emerging Modes of Business
  6. Business Studies-[Class 11-MCQS ]-Chapter 6 Social Responsibilities of Business
  7. Business Studies-[Class 11-MCQS ]-Chapter 7 Formation of a Company
  8. Business Studies-[Class 11-MCQS ]-Chapter 8 Sources of Business Finance
  9. Business Studies-[Class 11-MCQS ]-Chapter 9 Small Business
  10. Business Studies-[Class 11-MCQS ]-Chapter 10 Internal Trade
  11. Business Studies-[Class 11-MCQS ]-Chapter 11 International Business
  12. Business Studies-[Class 11-MCQS ]-Chapter 12 International Business
  13. Business Studies-[Class 12-MCQS ]-Chapter 1 Nature and Significance of Management
  14. Business Studies-[Class 12-MCQS ]-Chapter 2 Principles of Management
  15. Business Studies-[Class 12-MCQS ]-Chapter 3 Business Environment
  16. Business Studies-[Class 12-MCQS ]-Chapter 4 Planning
  17. Business Studies-[Class 12-MCQS ]-Chapter 5 Organising
  18. Business Studies-[Class 12-MCQS ]-Chapter 6 Staffing
  19. Business Studies-[Class 12-MCQS ]-Chapter 7 Directing
  20. Business Studies-[Class 12-MCQS ]-Chapter 9 Financial Management
  21. Business Studies-[Class 12-MCQS ]-Chapter 10 Financial Market
  22. Business Studies-[Class 12-MCQS ]-Chapter 11 Marketing
  23. Business Studies-[Class 12-MCQS ]-Chapter 12 Consumer Protection
  24. Financial Accounting MCQ Part – 2
  25. Financial Accounting MCQ Part – 3
  26. Business Economics MCQ Part 2
  27. Business Economics MCQ Questions and Answers Part – 3
  28. Corporate Finance MCQ Set 1
  29. Corporate Finance MCQ Set 2
  30. Direct Tax MCQ Set 2
  31. Business Information Systems MCQ Set 1
  32. Business Information Systems MCQ set 2
  33. Business Information Systems MCQ set 3
  34. Business Law MCQ Set 1
  35. Business Law MCQ Set 2
  36. Business Law Set 3
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