1. Service sector is a part of ------------of an economy.
2. Which of the following statements about real wage rate is correct?
3. Which of the following economic activities falls under the primary sector?
4. Market where less number of companies existed and together control the majority is called?
5. When the MP is positive but declining, it means .............
6. Which law states that 'as the quantity of one factor iincreased, keeping the other factors fixed, the marginal product of that factor will eventually decline?
7. Which of the following is an example of the tertiary sector of employment?
8. Which of the following is NOT an example of fixed cost for a firm?
9. Macroeconomics can be defined as:
10. Goods such as food, clothing and services such as recreation that are consumed when purchased by their ultimate consumers are called :
11. What does the cost of self-owned inputs used in the production process refer to?
12. In which one of the following types of economy are the factors of production owned individually?
13. Selling of many products in form of a single product is called?
14. Which of the following statements is TRUE about mixed economy?
15. The quantity of a commodity that a consumer is willing to buy and is able to afford, given prices of goods and consumers tastes and preferences is called .............. for the commodity.
16. Who is regarded as the father of modern economics?
17. Indian economy may described in the form of....
18. The rate of increase in ex-ante consumption due to a unit increment in income is called ……… .
19. Cargo services are a part of the ______ activities of the service sector.
21. Which was the principal source and sector of occupation of the Indian economy on the eve of Independence?
22. The concept of indifference curve is based on the law of ………. .
23. Which of the following is constant along an indifferent curve?
24. According to the law of diminishing marginal utility, as the amount of good consumed increases, the marginal utility of that good tends to_____.
25. With reference to cost, what is the full form of SMC from the following?
26. Which of the following name is not related to economic theory?
27. Who is known as the founding father of Macroeconomics as a separate discipline?
28. Which one of the following is NOT a feature of an Open Economy?
29. MRP means on package of any goods
30. As long as marginal utility of a commodity is _____ an individual will always prefer more of the commodity
31. The –––––––– is a macroeconomic term that refers to the proportion of income that is saved rather than spent on current good and services.
32. Which of the following is the perfect example of free market?
33. The difference between voluntarily payment and real price payment for any goods by consumers. called.......
34. The concept of 'sustainable development' was introduced by which one of the following reports?
35. About 85% of the Indian population of colonial India depended on which of the following sector of the economy?
36. Indian economy on the eve of independence was :
37. Constant returns to scale (CRS) is a property of production function that holds when ………
38. In which market competition does not exists?
39. What are the four factors of production?
40. What is the term used for pricing strategy in which a firm charge different customers different prices for the same product?
41. Who was the author of "The General Theory of Employment, Interest and Money" that laid the foundation of macroeconomics as a separate branch of economics?
42. In reference of Indian economy, which of the following comes under the secondary sector?
43. Goods that are brought not for meeting the immediate need of the consumer but for producing other goods are called
44. Which of the following sectors in Indian Economy is also known as service sector?
45. The person, who gives his name only to any partnership firm, called.
46. In reference of Indian economy which of the following is in the tertiary sector?
47. The production function of a firm is a relationship between inputs used and ............
48. Who said the following? ''No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable."
49. A Giffen good is related to which of the following?
50. When total utility is maximum then marginal utility ...............
