Share Facebook Email Telegram WhatsApp Results #1. Which amongst the following is NOT one of the four main factors of production? Land Land Labour Labour Expenditure Expenditure Entrepreneurship Entrepreneurship #2. What does the Lorenz curve indicate? Relationship between the price of a certain commodity and its demand. Relationship between the price of a certain commodity and its demand. Income distribution Income distribution Rate of employment Rate of employment Taxable income elasticity Taxable income elasticity #3. An economic condition when there is one buyer and many sellers is called ______ Oligopoly Oligopoly Monopoly Monopoly Perfect Competition Perfect Competition Monopsony Monopsony #4. Which economist gave the theory of Opportunity cost? Milton Friedman Milton Friedman Adam Smith Adam Smith John Keynes John Keynes Gottfried Haberler Gottfried Haberler #5. When the output is equal to zero, the variable cost is _______. Constant Constant Zero Zero Minimum Minimum Maximum Maximum #6. What is the value of all tangible resources such as raw materials and labour that are used in the production process called? Real Cost Real Cost Variable Cost Variable Cost Opportunity Cost Opportunity Cost Fixed Cost Fixed Cost #7. A marketplace in which a final goods or service is bought and sold is called ____. Equity Market Equity Market Factor Market Factor Market Commodity Market Commodity Market Product Market Product Market #8. A market structure which is dominated by only a small number of firms is called____________. Perfect Competition Perfect Competition Monopoly Monopoly Oligopoly Oligopoly Monopolistic Competition Monopolistic Competition #9. Which of the following is not included in the factors of production ? Capital Capital Labour Labour Tax Tax land land #10. The expenses leading to the increment in production capacity are which type of expenses ? Revenue Expenditure Revenue Expenditure Production Expenditure Production Expenditure Investment Expenditure Investment Expenditure Capital Expenditure Capital Expenditure Finish
