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Question : Which of the following statements is correct regarding the production possibility frontier?

I. It gives the combinations between two goods that can be produced when the resources of the economy are fully utilised.

II. It illustrates the production possibilities of the economy.

Option 1: Only I

Option 2: Only II

Option 3: Both I and II

Option 4: Neither I nor II

Team Careers360 25th Jan, 2024

Correct Answer: Both I and II


Solution : The correct answer is Both I and II.

A graph known as the production possibilities curve (PPC) illustrates every possible output combination that is currently possible with available resources and technological advancements. The PPC, also known as the production possibilities frontier (PPF),

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Question : What impact did the rise of new economic interests during the Five-year Plans have on the Indian political landscape?

 

Option 1: It weakened the federal structure of India.

Option 2: It led to the decline of the Congress party's dominance.

Option 3: It enhanced the role of the judiciary in economic matters.

Option 4: It promoted the growth of regional political parties.

Team Careers360 17th Jan, 2024

Correct Answer: It led to the decline of the Congress party's dominance.


Solution : The rise of new economic interests during the Five-year Plans led to the decline of the Congress party's dominance, as it paved the way for the emergence of various interest groups and political parties that challenged

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Question : When MU is positive, what happens to TU?

Option 1: It decreases.

Option 2: It becomes the highest.

Option 3: It remains constant.

Option 4: It increases.

Team Careers360 20th Jan, 2024

Correct Answer: It increases.


Solution : As long as MU is positive, TU rises with an increase in commodity consumption. TU increases at a decreasing rate during this phase because MU from each successive unit tends to diminish.

9 Views

Question : Which feature of marketing is highlighted in the given statement?
Statement: It refers to complete offer for a product or services by specifying it's features, quality,price,availability,etc.

Option 1: Need and want

Option 2: Customer value

Option 3: Creating a market offering

Option 4: Exchange mechanism


 

Team Careers360 18th Jan, 2024

Correct Answer: Creating a market offering


Solution : Market offering refers to a complete offer for a product or services by specifying it's features,quality,price,availability,etc. The purpose is to provide complete information about the product.

Hence, option C is correct.

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Question : Arun, Bhushan and Chetan are partners in a firm sharing profits in 3: 2: 3 ratio. They decide to admit Sehzad as a partner. Arun surrendered 1 / 3 of his share in favour of Sehzad, Bhushan surrendered 1/4 of his share in favour of Sehzad and Chetan surrendered 1/5 of his share in favour of Sehzad. The new profit sharing ratio of partner will be

Option 1: 3: 2: 3: 2

Option 2: 2: 2: 1: 1

Option 3: 2: 1: 2: 1

Option 4: None of the above

Team Careers360 21st Jan, 2024

Correct Answer: None of the above


Solution : Answer = none of the above

(i) Calculation of Surrendered share :

Arun's old share $=\frac{3}{8}$, Arun surrenders $\frac{1}{3}$ of $\frac{3}{8}$ in favour of Sehzad, i. e., $\frac{1}{3} \times \frac{3}{8}=\frac{1}{8}$

Bhushan's old share $=\frac{2}{8}$, Bhushan surrenders $\frac{1}{4}$ of $\frac{2}{8}$ in favour of

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