A. Prevailing wage rate B. Level of technology C. Unemployment rate D. Population size Correct Answer: Option B - Level…
A. derived demand B. competitive demand C. composite demand D. complementary demand Correct Answer: Option C - composite demand Explanation…
A. Precautionary motive B. Transactionary and Precautionary motive C. Speculative motive D. Speculative and Transactionary motives Correct Answer: Option C…
A. Marginal utility of a commodity is equal to the price paid for it B. Marginal utility of a commodity…
A. Price of substitutes B. Technological development C. Consumers choice D. Consumers income Correct Answer: Option B - Technological development…
A. Fixed cost B. Total cost C. Average cost D. Marginal cost Correct Answer: Option D - Marginal cost Explanation…
A. Minimum price B. Shut-down price C. Maximum price D. Mark-up price Correct Answer: Option A - Minimum price
A. Total product starts declining B. Average product has become zero C. Diminishing returns has set in D. Increasing returns…
A. Low birth rate B. Low per capita income C. High wage rate D. Full employment Correct Answer: Option B…
A. Exchange rate B. Fiscal policy C. Risk associated with the loan D. Rate of production in the country Correct…