If the price level rises with a marked change in real output this is known as
A.Inflation
B.Deflation
C.Devaluation
D.Revaluaion
Category: Business Management Mcqs
The disadvantage of product layout is
A.High initial investment is required for the specialized facilities
B.Skill labour is required to operate general purpose machinery
C.Production time is longer, requiring more goos in prices
D.Cost of inspection is very high
E.Production control is complex and costly
The law of demand indicates the relationship between
A.The price of a commodity and the quantity demanded
B.The income of consumer and the quantity demanded
C.The relationship betweent he price of one commodity and the price of a substitute
D.The price of two commodities
E.All of the above
An action probably engaged in by energetic manager is:
A.Controlling
B.Organizing
C.Decision making
D.Directing
E.None of the above
The population of a city was 6.4 million at the beginning of a becade and rose to 8.1 million by the end of the decade. Assuming the rate of growth to be constant, the size of population in the middle of the decade was
A.6.25 million
B.6.75 million
C.7.25 million
D.7.75 million
In India, telephone service comes under which market form
A.Duopoly
B.Bilateral monopoly
C.Monopoly
D.Perfect competition
E.None of the above
A worker’s real wages are determined by
A.The average daily wage
B.The purchasing power of his earnings
C.The money value of his production
D.The actual amount paid in lieu of work done
E.Any of the above
All of the following are the characteristics of mixed economy EXCEPT:
A.Co-existence of private and public sectors
B.Economic welfare
C.Economic equality
D.Govt. control over huge capital investment industries
In case of paper money the face value is
A.less than its intrinsic value
B.more than its intrinsic value
C.same as its intrinsic value
A monopolist can charge a high price only for those commodities which have
A.elastic demand
B.inelastic demand
C.no demand
