Business Economics Multiple Choice Questions and Answers

41. median of a distribution can be obtained from

1. Frequency Polygon
2. Histogram
3. Less than type ogives
4. None

42. Market structure where goods have close substitutes is best described as

1. Perfectly competitive
2. Monopolistic
3. Monopolistically competitive
4. None of above

43. Literacy rate calculated considering total population into account is known as

1. Crude Literacy Rate
2. Total Literacy Rate
3. Mean Literacy Rate
4. None

44. Law of Variable proportions passes from

1. 2 stages
2. 4 stages
3. 1 stage
4. 3 stages

45. Internal economies of scale are noticed at

1. Firm level independent of industry
2. Industry level independent of Firm
3. At both firm & industry level
4. nowhere

46. In tabulation source of data if any is shown in the

1. Footnote
2. Body
3. Stub
4. Caption

47. In perfect competition in the short run there will be ..................possibilities

1. Normal profits
2. Supernormal profits
3. Loss
4. All of above

48. In order to encourage investment in the economy, the RBI may

1. Increase Bank Rate
2. Sell securities in the open market
3. Buy securities in the open market
4. None of above

49. In Histogram, the classes are taken

1. Overlapping
2. non-overlapping
3. both
4. none

50. If sellers AR & AC functions are given as 115Q + 290 & 95Q + 305 respectively, with Output of 19 units, seller is making

1. NP
2. SNP
3. Loss
4. None of above