Home
Current Affairs January 2024

What is the correct answer?

4

In real life, brand loyalty is a barrier to:

A. Enter the new firms

B. Exit the new firms

C. Both a and b

D. None of the above

Correct Answer :

A. Enter the new firms


Related Questions

What is the correct answer?

4

The effects according to which people use those goods which are concerned with distinctive standard of living are:

A. Bandwagon effects

B. Snob effects

C. Veblen effects

D. Steven effects

What is the correct answer?

4

A firm will be in equilibrium when the lowest isocost is:

A. Tangent to the lowest isoquant

B. Tangent to the given isoquant

C. Above the given isoquant

D. Below the given isoquant

What is the correct answer?

4

Economies of large-scale production:

A. Lead to greater specialization

B. Offsets the effects of the law the law of comparative advantage

C. Lead to greater diversification of individual production

D. Cause firms to use more capital and less labor

What is the correct answer?

4

Change in demand (rise and fall of demand) is:

A. Due to change in price while other factors remain constant

B. Due to change in factors other than price

C. Both a and b

D. None of the above

What is the correct answer?

4

If demand increased and supply decreased then:

A. Quantity exchanged might rise or fall and price would rise

B. Quantity exchanged would rise and price would fall

C. Quantity exchanged would rise and price might rise or fall

D. Both quantities exchanged and price would rise

What is the correct answer?

4

Time Preference Theory of Interest was presented by:

A. Adam Smith

B. Carl Menger

C. Ruskin

D. J.B.Say

What is the correct answer?

4

Quantity demanded or supplied is measured in:

A. Monetary units

B. Physical units

C. Relative units

D. Constant units

What is the correct answer?

4

Which of the following is not characteristic of perfect competition?

A. Freedom of entry and exit

B. Each seller is a price taker

C. Perfect information about prices

D. Heterogeneous products

What is the correct answer?

4

In short run, a firm can change its:

A. Total production

B. Fixed production

C. Variable production

D. None of the above

What is the correct answer?

4

All of the following curves are U-Shaped except:

A. The AVC curve

B. The AFC curve

C. The AC curve

D. The MC curve

What is the correct answer?

4

Diseconomies of management lead to:

A. Decreasing returns to scale

B. Constant returns to scale

C. Increasing returns to scale

D. maximum returns to scale

What is the correct answer?

4

When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?

A. 1756

B. 1777

C. 1776

D. 1801

What is the correct answer?

4

If the price of product A decreases and in the result the demand for product B increases then we can say that:

A. A and B are substitute goods

B. A and B are complementary goods

C. A is an inferior good

D. B is an inferior good

What is the correct answer?

4

The kink demand curve faced by an oligopolist is based on the assumption that:

A. Competitors will follow a price increase but not a price cut

B. Competitors will follow a price increase as well as a price cut

C. Competitors will ignore both a price increase and a price cut

D. Competitors will ignore a price increase but will follow a price cut

What is the correct answer?

4

Cross-elasticity of demand or cross-price elasticity between two perfect complements will be:

A. Negative

B. Positive

C. Infinite

D. Negative infinite

What is the correct answer?

4

If a ten percent increase in price causes a ten percent reduction in quantity demanded, elasticity of demand is:

A. Perfectly elastic

B. Elastic

C. Unitary elastic

D. Inelastic

What is the correct answer?

4

A producer attains the least cost combination when the relation between Marginal Rate of Technical Substitution (MRTS) and price (P) of the factors x and y is:

A.

B.

C.

D.

What is the correct answer?

4

In cournot model, firms face:

A. Negatively sloped demand curve

B. Positively sloped demand curve

C. Horizontal demand curve

D. Vertical demand curve

What is the correct answer?

4

A demand curve is not related to:

A. The price of the commodity

B. The time period

C. The price of substitutes

D. Any of the above

What is the correct answer?

4

Which of the following is not a U shaped curve:

A. Marginal cost curve

B. Average variable cost curve

C. Fixed cost curve

D. Average cost curve

What is the correct answer?

4

According to law of Equi-Marginal Utility when price of commodity falls then we bought:

A. More units

B. Less units

C. Same units

D. Zero units

What is the correct answer?

4

If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief technology is:

A. One

B. Zero

C. Two

D. Five

What is the correct answer?

4

The games which played by players again and again are called:

A. Repeated games

B. Cooperative games

C. Non-cooperative games

D. Constant games

What is the correct answer?

4

A firms profit is equal to:

A. R-C

B. R>C

C. R

D. R=C

What is the correct answer?

4

At final equilibrium in cournot model, each firm sells:

A. 1/2 of the total market demand

B. 1/4 of the total market demand

C. 1/3 of the total market demand

D. None of the above

What is the correct answer?

4

The demand curve of giffen goods will be:

A. Negatively sloped

B. Positively sloped

C. Parallel to X-axis

D. None of the above

What is the correct answer?

4

Marshallian approach is also known as:

A. Cardinal approach

B. Ordinal approach

C. Consumer approach

D. Production approach

What is the correct answer?

4

Law of Substitution in production was presented by:

A. Classical economists

B. Keynes

C. Neo-classical economists

D. Karl Marx

What is the correct answer?

4

In monopolistic competition, because of difference in choices, the firm charges:

A. Different prices

B. Similar prices

C. High prices

D. Low prices

What is the correct answer?

4

In cournot model, firms sell:

A. Superior goods

B. Inferior goods

C. Identical goods

D. Differential goods