Allocation of resources of the economy as between production of different goods and services
Determination of prices of goods and services
Behavior of industrial decision makers
All of the above
D. All of the above
Only under socialism(communism)
Only under capitalism
Under both (a) and (b)
None of the above
Downward
Upward
Horizontal
Straight line
Concave to the origin
Convex to the origin
Positively sloped
Negatively sloped
The U shape of long-run cost curve is less pronounced than the short-run cost curves
The U shape of the short-run cost curves is less pronounced than the long-run cost curves
The U shape of the long-run cost curve is more pronounced than the short-run cost curves
The long-run cost curves are never U shaped
Output is effected
Equilibrium is effected
Input is effected
Reputation is effected
TU curve
MU curve
Supply curve
None of the above
Unitary elastic demand
Perfectly elastic demand
Perfectly inelastic demand
Relatively elastic demand
Profit curve
Demand curve
Average cost curve
Indifference curve
Real cost and money cost
Variable cost and fixed cost
Average cost and average revenue
Marginal cost and average cost
Both move together and reinforce each other
One moves and the other remains constant
Move in the opposite direction and neutralize each other
Both remain constant
Shifts rightward
Shifts leftward
Does not shift
None of the above
Marshal
J.R.Hicks
Adam smith
Rostow
banned
allowed
partially allowed
none of the above
X-axis
Y-axis
Z-axis
None of the above
Biased
Binding
Not binding
Conditional
identical
differential
very high
very low
Two sellers
A few sellers
Five sellers
Many sellers
Perfect elasticity (infinitely elastic)
Relative elasticity (greater than one elasticity)
Perfect inelasticity (zero elasticity)
Relative inelasticity (less than one elasticity)
Superior goods
Inferior goods
Identical goods
Differential goods
Thousands
Few
Innumerable
Hundreds
Positive Economics
Normative Economics
Micro Economics
Development Economics
The price falls and the demand also falls down
The price increases but demand falls down
The price increases the demand remains constant and when the price remains constant the demand goes up
The price remains constant but demand falls
Price increases and demand decreases
Price increases but demand also increases
Price remains constant but demand falls down
Price falls down but demand remains constant
Market price
Equilibrium price
Long-term price
Short-term price
Negative
Inverse
Positive
Both (a) and(b)
Is also same
Is different
Is constant
Is zero
Utility effect
Budget line effect
Substitution effect
Income effect
Excess demand
Qd > Qs
Shortage of supply
All of the above
Enforce contracts
Make contracts
Make negotiations
Do not make negotiations
Constant
Less elastic
More elastic
Perfectly elastic