Question:

Which one of the following is a feature of a perfect competition?

A.

Selling Cost

B.

Group Behaviour

C.

Homogenous Product

D.

Differentiated Product

Answer» c. Homogenous Product

Question:

PT = MV is the equation suggested by

A.

J.M. Keynes

B.

A.W. Phillips

C.

Irving Fisher

D.

A.C.Pigou

Answer» c. Irving Fisher

Question:

________ refers to the quantity of a commodity which a firm is willing to produce and offer forsale.

A.

Individual Supply

B.

Market Supply

C.

Individual Demand

D.

Market Demand

Answer» a. Individual Supply

Question:

In India, Central Bank was established in _________

A.

1945

B.

1955

C.

1935

D.

1965

Answer» c. 1935

Question:

__________ cost is also known as Alternative Cost.

A.

Opportunity

B.

Actual

C.

Real

D.

Money

Answer» a. Opportunity

Question:

__________ account can be opened by business persons only.

A.

Current Deposit

B.

Savings Deposit

C.

Fixed Deposit

D.

Recurring Deposit

Answer» a. Current Deposit

Question:

__________ is the centre of all marketing policies.

A.

Price

B.

Product

C.

Profit

D.

Publicity

Answer» b. Product

Question:

The additional cost incurred to produce an additional unit of output is _______

A.

Marginal cost

B.

Variable cost

C.

Fixed cost

D.

Opportunity cost

Answer» a. Marginal cost

Question:

___________ is an act to use the goods or service to satisfy the wants.

A.

Production

B.

Consumption

C.

Savings

D.

Distribution

Answer» b. Consumption

Question:

Penetration Pricing is adopted by following a ___________

A.

low price

B.

high price

C.

dual price

D.

support price

Answer» a. low price