Share Facebook Email Telegram WhatsApp Results #1. What do you mean by the supply of goods? Stock available for sale Stock available for sale Total stock in the warehouse Total stock in the warehouse The actual production of goods The actual production of goods Quantity of the goods offered for sale at a particular price per unit of time Quantity of the goods offered for sale at a particular price per unit of time #2. What do you mean by ‘under conditions of a perfect competition in the product market’? MRP = VMP MRP = VMP MRP > VMP MRP > VMP VMP > MRP VMP > MRP None of the above None of the above #3. Which of the following is the relation that the law of demand defines? Income and price of a commodity Income and price of a commodity Price and quantity of a commodity Price and quantity of a commodity Income and quantity demanded Income and quantity demanded Quantity demanded and quantity supplied Quantity demanded and quantity supplied #4. What do you mean by a mixed economy? Modern and traditional industries Modern and traditional industries Public and private sectors Public and private sectors Foreign and domestic investments Foreign and domestic investments Commercial and subsistence farming Commercial and subsistence farming #5. What do you mean by the demand of a commodity? Desire for the commodity Desire for the commodity Need for the commodity Need for the commodity Quantity demanded of that commodity Quantity demanded of that commodity Quantity that consumers are able and willing to buy at various prices during any particular period of time Quantity that consumers are able and willing to buy at various prices during any particular period of time #6. What do you mean by Gross National Product? The total value of goods and services produced in the country The total value of goods and services produced in the country The total value of all the transactions in the country The total value of all the transactions in the country The depreciation in the total value of goods and services produced in the country The depreciation in the total value of goods and services produced in the country The total value of goods and services produced in the country and the net factor income from abroad The total value of goods and services produced in the country and the net factor income from abroad #7. Which of the following is/are linked with the financial sector of India and controlled by the Reserve Bank of India (RBI)? Commercial bank Commercial bank Money lenders Money lenders Stock exchange operations Stock exchange operations All of the above All of the above #8. When price floor is set above equilibrium price it will result in? Shortage Shortage Surpluses Surpluses Equilibrium Equilibrium None of the above None of the above #9. What is Gross Domestic Product? The total value of goods and services manufactured in the country The total value of goods and services manufactured in the country The total value of all the transactions in the country The total value of all the transactions in the country The reduction in the total value of goods and services produced in the country The reduction in the total value of goods and services produced in the country The monetary value of all finished goods and services made within a country during a specific period. The monetary value of all finished goods and services made within a country during a specific period. #10. What is the main economic problem faced by the society? Unemployment Unemployment Inequality Inequality Poverty Poverty Scarcity Scarcity Finish
