MANAGERIAL ECONOMICS Solved SCDL Paper - 52

Thanks to Akshay

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Hi Team, 

Just sharing some sample question papers that will be of help to other students.

Thanks,

Akshay Goel

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True/False

Question A supply schedule is a graphical presentation of supply patterns.

Correct Answer False

 

True/False

Question The subject matter of macro – economics includes the theory of income and employment at an individual level.

Correct Answer False

 

Select The Blank

Question When demand for the product increases in the same proportion in which income increases, Income elasticity of demand will be equal to                                              

Correct Answer unity

 

Multiple Choice Multiple Answer

Question Features of stage of expansion in business cycle are

Correct Answer Rise in national output , Rise in consumer and capital expenditure , Bank advances grow rapidly

 

Multiple Choice Multiple Answer

Question Explicit costs are

Correct Answer Out of pocket costs , These are firms accounting expenses , Expenditure costs

 

Multiple Choice Single Answer

Question Demand for products like tea, betel, tobacoo, sigaratte is a matter of

Correct Answer Habit

 

Multiple Choice Single Answer

Question If the substitutes are relatively cheaper then the demand for the commodity in Question will be

Correct Answer Less

 

Multiple Choice Single Answer

Question An assembly of several machines, linked together either physically or by processes, capable of producing a given quantity of a product per day is

Correct Answer Plant

 

Multiple Choice Single Answer

Question The Risk Taking Theory was developed by Hawley, who was an

Correct Answer American Economist

 

Select The Blank

Question The cost which enter the accounts book of the firm are referred as _                                                                                                              .

Correct Answer Accounting cost

Select The Blank

Question The persons who own the                 hip concern are called Partners.

Correct Answer Partners

 

Select The Blank

Question Perfectly elastic demand curve is                 

Correct Answer Horizontal

 

Select The Blank

Question While discussing the product divisibility of public and private goods, the principle of

                 may be applied in case of only those people who do not agree to pay or who cannot pay the market price

Correct Answer Exclusion

 

 

Multiple Choice Multiple Answer

Question Features of the firm are

Correct Answer It is a business unit organized under one ownership It is a sole proprietorship

It is a partnership or joint stock company

 

Multiple Choice Multiple Answer

Question The causes of inflation are

Correct Answer Increase in public expenditure Increase in private expenditure

Increase in foreign demand

 

 

True/False

Question Inflation is a great opportunity for merchants to earn more profit.

Correct Answer True

 

 

Match The Following

Question Correct Answer Your Answer

Human wants Unlimited unlimited

General Theory of Employment, Interest and Money J. M. Keynes J. M. Keynes

Managerial economics Decision making and forward planning Decision making and forward planning

Resources Scarce scarce

Commodities goods and services goods and services

 

Multiple Choice Multiple Answer

Question The advantage of cost-benefit analysis are

Correct Answer Maximization of social welfare Objective measurement of the trade-off

Maximization of difference between total benefits & total costs

 

Select The Blank

Question Sole Proprietorship which is also called sole                 

Correct Answer Tradership

 

True/False

Question A plant is an economic unit which takes various decisions related to production and distribution.

Correct Answer False

 

Multiple Choice Multiple Answer

Question Features of an Industry are

Correct Answer All firms dealing in the same line of business The ownership and management of each firm is different

Is a group of firms

 

Multiple Choice Single Answer

Question Managerial economics generally refers to the integration of economic theory with business

Correct Answer Practice

 

True/False

Question During recession, on account of decline in investment by producers, there is decline in income and consumption.

Correct Answer True

 

Multiple Choice Multiple Answer

Question The fiscal policy includes

Correct Answer Monitoring of public expenditure Formation of taxation policy

It is an instrument for economic stabilization

 

Multiple Choice Single Answer

Question Forecasts made either through experience or through methodigistic are

Correct Answer Statistical

 

Multiple Choice Single Answer

Question Managerial economics is also understood to refer to

Correct Answer applied economics

 

Select The Blank

Question The externality which causes an economic gain or an economic loss to other economic

units is also referred to as                  externality.

Correct Answer Pecuniary

 

Multiple Choice Single Answer

Question According to Prof. F.H. Knight, profit is a reward for

Correct Answer uncertainty bearing

 

Multiple Choice Single Answer

Question The principle of full employment equilibrium was stated by

Correct Answer Say's Law of Market

 

Multiple Choice Multiple Answer

Question Phases of business cycle

Correct Answer Expansion , Peak , Recession

 

True/False

Question In case of a Joint Stock Company the liability of the share holders is unlimited.

Correct Answer False

 

Multiple Choice Single Answer

Question Goods which are completely divisible and to them the principle of exclusion applies in full measure, are called

Correct Answer Pure public goods

 

Multiple Choice Multiple Answer

Question Assumptions underlying the law of Supply are Correct Answer The cost of production is unchanged No change in technique of production

Government policies are unchanged

 

Multiple Choice Multiple Answer

Question The payments made out of the Gross Profit are Correct Answer Remuneration to factors of production Depreciation

Maintenance Charges

 

Select The Blank

Question The indivisible goods to which the principle exclusion does not apply are called

                 goods.

Correct Answer pure public

 

True/False

Question Micro-economics is primarily concerned with the problem of what, how and for whom to produce?

Correct Answer False

Multiple Choice Single Answer

Question Gross profit is the excess of total revenue of a firm over total

Correct Answer expenditure

 

True/False

Question During period of depression various factors of production lie unutilized.

Correct Answer True

 

Multiple Choice Multiple Answer

Question Co-operative organizations is

Correct Answer voluntary organization , managed by democratic principle , organization, which performs its business within the members

 

Multiple Choice Single Answer

Question Macro economics is the study of the

Correct Answer aggregate behavior of economy

 

True/False

Question To solve the unemployment problem, the level of effective demand must decrease.

Correct Answer False

 

Multiple Choice Single Answer

Question The public sector is owned & controlled by

Correct Answer state enterprises

 

Select The Blank

Question Demand for safety pins is                 

Correct Answer inelastic

 

Multiple Choice Single Answer

Question Under perfect competition, generally demand and supply act and react upon each other and determine the price

Correct Answer equilibrium

 

True/False

Question During the period of recession there is increase in incomes of wage and interest earners.

Correct Answer False

 

Select The Blank

Question In a market economy                  is the best judge of personal interest.

Correct Answer individual

 

Select The Blank

Question Demand for safety pins is                 

Correct Answer inelastic