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BRINDAVAN
INSTITUTE OF TECHNOLOGY & SCIENCE, (BITS KNL)
III B. Tech. II Sem. (R13)
Branch
V UNITS OBJECTIVE
: ME
( A
2. Which subject studies the behavior of the firm in theory and practice
(a) Micro Economics
(b) Managerial Economics (c) Macro Economics (d) Welfare Economics
( B
( C
( C
( C
(d) None
.
(d) Finance function
( A
8.When a small change in price leads great change in the quantity demand, We call it ________
(a) Inelastic Demand
(b) Negative Demand (c) Elastic Demand
(d) None
.( C
9.When a great change in price leads small change in the quantity demand,We call it ________
(a) Elastic Demand
(b) Positive Demand
(c) Inelastic Demand
(d) None
.( C
( C
(c) Substitute
(d) None
11. When a firm expands its Size of production by increasing all factors, It secures certain advantages,
known as
(a) Optimum Size
(b) Economies of Scale (c) Diseconomies of Scale (d) None
12. When producer secures maximum output with the least cost combination Of factors of production, it is known
as-------------------C
)
(a) Consumers Equilibrium (b) Price Equilibrium (c) Producers Equilibrium (d) Firms Equilibrium
13. The Law of Variable Proportions is also called as ____________.
(a) Law of fixed proportions (b) Law of returns to scale (c) Law of variable proportions (d) None
14. _________ Is a group of firms producing the same are slightly Different products for the same market or using same
raw material.
( A )
(a) Industry (b) Firm
(c) Plant
(d) Size
15. When proportionate increase in all inputs results in an equal Proportionate increase in output, then we
call____________.
(
(a) Increasing Returns to Scale (b) Decreasing Returns to Scale (c) Constant Returns to Scale (d) None
16. When different combinations of inputs yield the same level of output Known as ___________
(a) Different Quants (b) Output differentiation (c) Production differentiation (d) Isoquants
17. Conversion of inputs in to output is called as _________________.
(a) Sales
(b) Production (c) Income
(d) Expenditure
.( D
(
)
)
18. When Proportionate increase in all inputs results in more than equal Proportionate increase in output, then we call
_____________.
( C
(a) Decreasing Returns to Scale (b) Constant Returns to Scale (c) Increasing Returns to Scale (d) None
19.A curve showing equal amount of outlay with varying Proportions of Two inputs are called __________
_(
(a) Total Cost Curve
(b) Variable Cost Curve (c) Isocost Curve
(d) Marginal Cost Curve
D )
21. If we add up total fixed cost (TFC) and total variable cost (TVC), we get__
(a) Average cost
(b) Marginal cost (c) Total cost
(d) Future cost
( C
22. ________ costs are theoretical costs, which are not recognized by the Accounting system.
(a) Past (b) Explicit (c) Implicit (d) Historical
C )
A )
24. _______ costs are the costs, which are varies with the level of output.
.
(a) Historical
(b) Past (c) Variable
(d) Fixed
D )
25. _________________ costs are those business costs, which do not Involve any cash payment.
(a) Past
(b) Historical
(c) Implicit
(d) Explicit
C )
B )
27. _______ is a point of sales at which there is neither profit nor loss.
(a) Maximum sales
(b) Minimum sales (c) Break-Even sales
C )
D )
C )
C )
A )
C )
33. The price at which demand and supply of a commodity equal is Known as
(a) High price
(b) Equilibrium price (c) Low price
(d) Marginal price
B )
34. A market where large number of buyers and sellers dealing in Homogeneous product with perfect knowledge is called
( C )
(a) Imperfect competition (b) Monopoly (c) Perfect competition
(d) Monopolistic competition
35. In which market, single market price prevails for the commodity
(a) Monopoly market
(b) Oligopoly market (c) Perfect competition market (d) Duopoly market
C )
36. If average Revenue is greater than the Average cost, monopolist Earns __ .
(a) Profit
(b) No loss No profit (c)Loss
(d) None
A )
37. The firm is said to be in equilibrium, when its Marginal Cost (MC) Equals to___ .
(a) Total cost
(b) Marginal Revenue
(c) Total revenue (d) Average Revenue
B )
38. ___________ is a position where the firm has no incentive either to expand or contrast its output.
(a) Maximum output
(b) Minimum output (c) Equilibrium
(d) None
C )
39. . Under which pricing method, price just equals the total cost
(a) Marginal cost pricing (b) Cost plus pricing (c) Full cost pricing(d) Going rate pricing
C )
40. ______ is a place in which goods and services are bought and sold.
(a) Factory
(b) Workshop (c) Market
(d) Warehouse
C )
C )
42. People may come and people may leave, but I go on forever is Applicable to ______ Business organization. ( A )
(a) Company
(b) Partnership (c) Sole proprietorship
(d) Joint Hindu Family
43. ______ is Supreme Authority for Company Organization.
(a) Directors
(b) Share holders (c) Debenture holders (d) Creditors
B )
C )
45. The management of Joint Hindu Family business vests in the eldest member of the family, called _____.
(a) Director
(b) Grand father (c) Kartha
(d) Manager
C )
46. ____ is not required to private company to start its functions. _____.
(a) Certificate of incorporation (b) Registration (c) Certificate of commencement of business (d) None
C )
C )
B )
(d) None
.(
C )
50. If either state government of central government or both have got not less than 51% of share in the organization. Then
that is called____.
( C )
(a) Private organization
(b) Partnership organization (c) Government organization (d) Joint sector
organization
51) Which of the following shows the firms planned operations or resource allocation for a given period
in future
a) Operating budgets b) capital budgeting c) accounting rate of return d) internal rate of return
52) If the rate of return is more than the cost of capital, then the project is.
a) Accepted
b) rejected
c) denied
53) Cash inflows refer to
(a) Cash incomes
(b) future incomes
B )
( A )
d)postponed
( D
( C
54) The diminution or reduction in the value of the asset due to wear and-tear is called
(a) Appreciation
(b) paid- up capital
(c) depreciation
55) Where there are two projects with different IRRs, the project with _______IRR is selected
(a) Lower
(b) Higher
(c) Zero
(d) Negative
B )
D )
D )
(c) Bigger
(c) Zero NPV
(d) Higher
(d) Higher NPV
( D )
b) Balance Sheet, Ledger (c) Journal ,Ledger (d) Trading account ,Profit &
59) Which of the following involves `for every debit, there is a corresponding credit .
(a) Single-entry
(b) Ledger entry
(c) Journal entry
(d) Double entry .
60) The expenses yet to be paid are called
(a) Accrued expenses
(b) Notional expense (c) Nominal expenses
( D
( A )
(d) Sub-standard expense
( C )
B )
C )
( D
( C
( B