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Which industries spend a relatively large share of their revenue on research and development in order to keep up with their competitors?

A. Grocery stores

B. High-Tech industries

C. Automobiles

D. Construction

Correct Answer : B.


High-Tech Industry? A High technology (Hi-tech) industry is one that produces sophisticated products. There is a significant emphasis on research and development. Often the 'raw materials' are electrical components. Examples of Hi-tech industries include: Computers Telecommunications Aerospace and military equipment

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  1. Demand of a commodity is elastic when:
  2. Traditionally, the study of determination of price is called:
  3. The real income of a consumer is income in terms of:
  4. If, at the prevailing price, more of a good is desired than is available for sale:
  5. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  6. The equilibrium of a firm is determined by the equality of MC and MR in only:
  7. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  8. Which of the following oligopoly models is concerned with the maximization of joint profits?
  9. According to critics, the assumption of costless production is:
  10. When a consumer is satisfied with his spending pattern, he is said to be in:
  11. When a competitive firm is in equilibrium in the long-run, its output is such that:
  12. The Law of Equi-Marginal Utility refers to:
  13. Which is not an essential feature of a socialist economy?
  14. The alternative of profit maximization theory is:
  15. From the resource allocation view point, perfect competition is preferable because:
  16. Which of the following is not a feature of isoproduct curves?
  17. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  18. Ordinal approach includes arranging:
  19. Marginal utility equals:
  20. The relationship between AC and MC curves depend upon the behavior of:
  21. A firm in a position of equilibrium is supposed to be maximizing:
  22. The reaction curve of a firm is attained by joining the:
  23. The income consumption curve (ICC) is the locus of points of consumer equilibrium resulting:
  24. The main contribution of Prof.Robbins is in the field of:
  25. One common definition of a luxury good is a good with income elasticity:
  26. In Bertrand model, the entry of new firms is:
  27. If we measure the elasticity of demand with the help of the average and marginal revenue, the formula…
  28. A mixed economy is characterized by the coexistence of:
  29. Competitors in monopolistic competition have full control over:
  30. The Strategy of Economic Development is the work of: