Economics MCQ Questions and Solutions with Explanations | Commerce

Short-term regular variations related to the calendar or time of day is known as

Match the items of List-II with the items of List-I and find the correct matching. The items relate to economies of scale/scope.

List-I	List-II
a. Economies of scale	1. Arise with lower average costs of manufacturing a product when two complementary products are produced by a single firm
b. Internal economies	2. Mean lowering of costs of production by producing in bulk
c. External economies	3. Arise when cost per unit depends on size of the firm
d. Economies of scope	4. Arise when cost per unit depends on the size of the industry, not the firm

Consider the following statements
I. Money is stock while expenditure is flow
II. Money is stock while income is flow
III. Government debt is stock but interest payment is flow
IV. Credit by banks is flow and total deposits credit are stock
Which of the above statements are correct?

Which of the following goods is likely to have perfectly inelastic demand?

Which of the following statements are correct?

Which one of the following is NOT the pre-requisite of price discrimination?

Penetrating pricing strategy is appropriate when

Who proposed substitution effect of change in consumer's equilibrium?

The following are the two statements regarding concept of profit. Which of the statements being correct or incorrect.
Statement I Accounting profit is a surplus of total revenue over and above all paid-out costs, including both manufacturing and overhead expenses.
Statement II Economic or pure profit is a residual left after all contractual costs have been met, including the transfer costs of management, insurable risks, depreciation and payments to shareholders sufficient to maintain investment at its current level.

Which of the following statement(s) is/are correct?