............ is an alternative way of representing the production

Previous Year Papers

Download Solved Question Papers Free for Offline Practice and view Solutions Online.

Test Series

Take Zigya Full and Sectional Test Series. Time it out for real assessment and get your results instantly.

Test Yourself

Practice and master your preparation for a specific topic or chapter. Check you scores at the end of the test.
Advertisement

 Multiple Choice QuestionsMultiple Choice Questions

271.

__________ says that if we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output (i.e., marginal product of that input) will start falling.

  • Law of diminshing marginal product

  • Law of variable proportions

  • The Short Run

  • The Long Run


272.

The ......... exchange rate is the relative price of foreign goods in terms of domestic goods.

  • Artificial

  • Nominal

  • Fixed

  • Real


Advertisement

273.

............ is an alternative way of representing the production function.

  • The Short Run

  • The Long Run

  • Isoquant

  • Average Product


C.

Isoquant


Advertisement
274.

______________ scheme launched by the Central Government aims to spur social, economic and infrastructure development in rural areas by developing a cluster of 300 Smart Villages.

  • Soil Health Card

  • Shyama Prasad Mukherji Rurban Mission

  • Pradhan Mantri Fasal Bima Yojana

  • Pradhan Mantri Rojgar Yojana


Advertisement
275.

In a market system, the central problems regarding how much and what to produce are solved through the coordination of economic activities brought about by ...........signals.

  • Supply

  • Demand

  • Price

  • Stock Market


276.

............ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

  • Law of diminishing marginal product

  • Law of variable proportions

  • The Short Run

  • The Long Run


277.

The closest example of a centrally planned economy is the ........... for the major part of the 20th Century.

  • USA

  • India

  • Soviet Union

  • Japan


278.

............. is the relationship between the variable input and output, keeping all other inputs are held constant.

  • Total product

  • Average product

  • Isoquant

  • The Long Run


Advertisement
279.

From which of the following is the GDP of a country not derived from?

  • Agricultural sector

  • Industrial sector

  • International sector

  • Service sector


280.

............. is the set of all possible combinations of the two inputs that yield the same maximum possible level of output.

  • The Short Run

  • The Long Run

  • Isoquant

  • Average product


Advertisement