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Business Economics - Business Economics Section 1

Avatto > > CS foundation > > PRACTICE QUESTIONS > > Business Economics > > Business Economics Section 1

46. Which one of the following is not a common property of an indifference curve

A
Downward sloping
B
Convex to the origin
C
Two indifference curves can intersect each other
D
None of the above

Answer
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Option : C
Explanation :

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47. The appropriate objective of an enterprise is

A
Maximisation of sales
B
Maximization of the owner's wealth
C
Maximization of profits
D
None of the above

Answer
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Option : B
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48. The positive income effect is greater than the negative substitution effect in case of

A
Normal goods
B
Inferior goods
C
Luxury goods
D
Giffen goods

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Option : D
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49. Match List-I with List-II and select the correct answer using the codes given below the lists:

List-I	List-II
a. Perfect competition	I. No control
b. Monopolistic competition	II. Some control
c. Oligopoly	III. Practically some control
d. Monopoly	IV. Usual control

A
a b c d
I II III IV
B
a b c d
II III IV I
C
a b c d
III II IV I
D
a b c d
IV III II I

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Option : A
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50. When the demand for a commodity also depends upon prices of the substitutes & complementaries or relative prices then it is called

A
Price-demand
B
Income-Demand
C
Cross-Demand
D
None of the above

Answer
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Option : C
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