Supply Shifters

Q.

List five things you would like to do to conserve natural resources.

Q.

What is meant by energy crisis?

Q.

Explain Bharat/Euro stage norm.

Q.

How can the energy crisis be prevented?

Q.

Deepak is striving to earn a profit of 30% in the current financial year. Identify the type of plan being described in the above lines.

1. Strategy

2. Objective

3. Programme

4. Method

Q.

Shubham wants to increase the sale of his business by 15% in the next quarter. Identify the type of plan being described in the above lines.

Q. Define marginal opportunity cost along a PPC.

Q.

Swatch Ltd. plans to earn a 20% return on its investment in a new project. Identify the type of plan being described in the above lines.

Q.

7. Forests and wild life are thee examples of _______ resources.

Q.
What is the shape of firm's demand curve under perfect competition?

Q. Marginal cost at any production level is the extra cost of producing ____________.

1. first unit of the commodity
2. second unit of the commodity
3. central unit of the commodity
4. one extra unit of the commodity

Q. Diminishing returns occur _________

1. when units of a variable input are added to a fixed input and total product falls
2. when units of a variable input are added to a fixed input and marginal product falls
3. when quantity of the fixed input is increased and returns to the variable input falls
4. when the size of the plant is increased in the long run

Q. A country enjoys a comparative advantage over another country in producing oil when _______________.

1. it has more oil than the other country.
2. it can produce oil at a lower opportunity cost than the other country
3. it does not need to import oil.
4. it wants to export oil as much as it has

Q. What concept implies that a firm's marginal revenue product curve for labour will slope downward in the short run?

1. Diminishing marginal returns
2. The law of supply
3. The law of decreasing cost
4. The price equalization principle

Q. Minimum marginal cost occurs at the output where _______.

1. the factors are combined in their best possible proportions
2. the average product of the variable factors is maximum
3. the total product is maximum
4. the marginal product of the variable factor is maximum

Q. Economic meaning of increasing marginal opportunity cost implies that to produce more units of good X, the units of the other good have to be sacrificed on an _________.

1. increasing rate
2. decreasing rate
3. constant rate
4. none of the above

Q.

1. the firm can sell any amount of output at the existing price
2. firms can differentiate their product
3. the firm can sell only a specified amount of output at the existing price
4. all firms will sell equal amount of the commodity

Q. The average total cost is to decline in the initial ranges of output on account of _________________.

1. economies of management
2. economies of labour
3. economies of marketing
4. all the above

Q. A strategy that ensures price target is to be met is termed as _______.

1. Target costing
2. Marginal costing
3. Demand based costing
4. Learning curve costing

Q.

Mention the priority of action to be taken to maintain sustainable development.