(A) Normal profit only
(B) Abnormal profit
(C) Average profit of past five years;
(D) 12.33% profit on capital employed
Tag: Economics Mcqs With Answers
Adam Smith called price mechanism as?
(A) Invisible hands
(B) Consumer sovereignty
(C) Consumer liberty
(D) Price regulation
In the long run price is governed by__?
(A) Cost of Production
(B) Demand supply forces
(C) Marginal utility
(D) None
Very short period is the market condition where the supply remain perfectly?
(A) Elastic
(B) Inelastic
(C) Unity elastic
(D) Elasticity less than 1
If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the?
(A) Equilibrium quantity will decrease
(B) Equilibrium price will decrease
(C) Equilibrium price will go up
(D) Equilibrium quantity will increase
Which of the following is/are the characteristic of a monopolistically competitive market?
(A) No restriction on exit and entry
(B) Many sellers
(C) Product differentiation
(D) All the three
Which of these is not an essential feature of a market?
(A) Buyers
(B) Sellers
(C) Commodity
(D) Building with loading and unloading facilities
Which of the following is/are an essential feature of the market?
(A) Buyers
(B) Sellers
(C) Price
(D) All the three