Question : A firm’s supply curve is on an upward slope because:- A: The production costs of additional units of output will rise beyond a point B: Consumers see a positive relationship between price and quality C: Expansion of production leads to the use of inferior inputs
Option 1: A only
Option 2: C only
Option 3: B only
Option 4: A, B and C all
Correct Answer: C only
Solution : The perception that the marginal benefit of producing the good has increased is what causes the supply curve's upward slope - in other words, the higher price required to cover the higher marginal cost of production slopes the curve upward. Expansion of production leads to the use of inferior inputs. Hence c is the correct answer
Question : Which of the following is not a goal for the Green Revolution?
Option 1: Rise in crop productivity
Option 2: Use of fertilisers
Option 3: Rise in production of food grains
Option 4: Expansion of irrigation
Question : In Pakistan, which revolution led to the rise in the production of food grains?
Option 1: Green evolution
Option 2: White revolution
Option 3: Red revolution
Option 4: Yellow revolution
Question : An unexpected rise in sales of a product leads to ______.
Option 1: planned decumulation of inventory
Option 2: unplanned decumulation of inventory
Option 3: unplanned accumulation of inventory
Option 4: planned accumulation of inventory
Question : How did political changes in the 19th century affect rural society in India?
Option 1: Emergence of democratic institutions
Option 2: Strengthening of traditional monarchies
Option 3: Expansion of British colonial rule
Option 4: Rise of local self-governance
Question : What is a good indicator to identify the effect of policies on the industrial sector?
Option 1: Rise in capital formation.
Option 2: Rise in the share of the Industry sector in the GDP.
Option 3: Rise in banking services.
Option 4: Rise in imports.
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