LIST OF ATTEMPTED QUESTIONS AND ANSWERS

True/False Question Correct Answer

A monopolist in a price maker. True

Multiple Choice Single Answer Question The city of Faridabad has specialized in the manufacture of Correct Answer bangles

Multiple Choice Multiple Answer Question Demand is determined by Correct Answer Price of the product , Relative prices of other goods , Tastes and habits

Multiple Choice Multiple Answer Question Baumol has pointed out three main contributions of economic theory. They are Correct Answer Economic theory offers clarity to various concepts used in the business anlayses , Economic theory contributes in building anlyatical model to rocognize managerial problems , Economic theory contributes to ,'a set of analytical methods' which enhance the analytical capabilities of business analyasis

True/False Question Correct Answer True/False Question Correct Answer

In case of indivisible goods, which are not priced, the decisions regarding their demand preferences are taken through price mechanism. False

A shift in the demand curve to the left shows increase in demand. False

Multiple Choice Single Answer Question The act of making goods and services is called Correct Answer production

Multiple Choice Single Answer Question With decline in price of a commodity, total expenditure spent on the commodity is less than before, then elasticity of demand for the commodity is Correct <1 Answer Match The Following Question N.G.O.S Sole proprietorship Preference shares Public enterprises

Correct Answer Voluntary social work Unlimited liability Fixed rate of dividend State control