Managerial Economics SCDL Sample Paper Assignment 1Filed under: Sample Papers;
Question Type – True/False
Question: In case of a proprietary firm the liability of the proprietor is limited.
Question: In experimental price approach the firms takes some cognizance of the demand for the product and proceeds to fix a price by a trial and error method.
Question: Consumer’s protection involves protection to the consumers from unfair trade practices.
Question: The law of supply is not hypothetical.
Question: When a change in income has no effect upon the quantity demanded of a product, the income elasticity of demand is zero.
Question: Public enterprises have shown a very high rate of return of the capital invested.
Question: In the traditional concept of equilibrium, a firm attains the equilibrium when the firm’s Total Revenue (T.R.) =Total Cost (T.C.).
Question: Supply management is related to the volume of supply & its distribution system.
Question: The sum of total fixed costs and total variable costs is the total cost.
Question: During the period of depression, a large part of a country’s resources lie involuntarily idle.
Question: Under the New Industrial Policy, in order to invite foreign investment in high priority industries, it was decided to provide approval for direct foreign investment upto 51% equity in such industries.
Question Type – Multiple Choice Multiple Answer
Question: Accounting profit includes
Answer: Wages , Rent , Interest
Question: Exceptions to the Law of Demand are
Answer: Griffin goods , Articles of snob appeal , Speculation
Question: Characteristics of Pure Public goods are
Answer: They are completely indivisible , Their marginal cost would be zero or close to zero , Their benefits cannot be priced
Question: Main aims of the New Industrial Policy (1991) are :-
Answer: To unshackle the Indian industrial economy from the cobwebs of unnecessary bureaucratic control , To introduce liberalization with a view to integrate the Indian economy with the world economy , To remove restrictions on direct foreign investment as also to free the domestic entrepreneur from the restriction of MRTP act
Question: Factors leading to differences in the economic & the traditional concepts of valuation are
Answer: Inventory Valuation , Depreciation , Unaccounted value changes in the assets & liabilities
Question: Under cost plus pricing
Answer: Actual costs, standard costs are included , Certain percentage of profit also included , The price is set to cover material, labour cost
Question: Demand is determined by
Answer: Price of the product , Relative prices of other goods , Tastes and habits
Question: Different types of Elasticity of Demand are
Answer: Cross elasticity of demand , Price elasticity of demand , Income elasticity of demand
Question: Assumptions of the Law of Demand are
Answer: No change in consumer’s income , No change in consumer’s preferences , No change in fashion
Question: A competitive industry has three basic characteristics
Answer: Large Number of Firms , Homogeneous Product , Free entry and exit
Question: Types of Share capital of Joint-Stock Company are
Answer: Registered or authorized capital , Issued capital , Paid-up capital
Question: Defects of market system
Answer: Inequalities of income and wealth , Emergence of monopolies , Failure to provide full employment
Question Type – Multiple Choice Single Answer
Question: In case of perfectly elastic supply, the supply curve is
Question: Every nation’s resources which are used to produce the quantities of goods and services that would be required to satisfy all its citizen’s wants are
Question: Managerial economics is also understood to refer to
Answer: applied economics
Question: Economists have pointed out that the real world is full of
Answer: Imperfect competition
Question: Under perfect competition, generally demand and supply act and react upon each other and determine the price
Question: A firm gets an opportunity to produce multiple products because changes in business activity in a firms is
Question: Managerial economics generally refers to the integration of economic theory with business
Question: The method of inventory valuation in which, the cost of production is calculated on the assumption that the material which was last to enter the inventory of the company was used first is
Question: In case of a Joint-Stock Company, the liability of share holders is
Question: Expansion of supply is shown by the movement in the supply curve which is
Question: Saving is a
Answer: Private virtue
Question: According to the Government, the building up of inflationary pressure during the Nineties was attributed to
Answer: Higher Fiscal deficit
Question: The income which a businessman might expect from the second best alternative use of his resources is called as
Answer: Opportunity cost
Question Type – Select The Blank
Question: Super-normal profit is also called ________.
Answer: Excess profit
Question: When Government repays old loans, the purchasing power at the disposal of the people ________.
Question: Propensity to consume is defined as the relationship between consumption and ________.
Question: ________ effects are those externalities which flow from the production or use of the good to other parties or economic units.
Answer: Third party
Question: Advertising forms an integral part of decision-making and________.
Answer: Forward – planning
Question: True inflation starts only after reaching ________.
Answer: Level of full employment
Question: The financing of ________ goods is done through Public expenditure.
plz send chapter vice question of economics
plz send chapter vice question of economics
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