Question : The non-expenditure costs which arise when the producing firm itself own and supplies certain factor of production are
Option 1: explicit costs
Option 2: original costs
Option 3: implicit costs
Option 4: replacement costs
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Correct Answer: implicit costs
Solution : The correct option is an implicit costs.
When a producing organisation employs its resources or factors of production (such as the owner's time, talents or capital) as opposed to hiring them from other sources, implicit costs also known as non-expenditure costs come into play. These expenses are the potential costs of using the resources internally as opposed to employing them in other ways, as in another business initiative or as investments in the financial markets.
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Question : The value added of a firm is calculated as___________.
Option 1: value of production of the firm - value of intermediate goods used by the firm.
Option 2: value of production of the firm + value of capital goods used by the firm.
Option 3: value of production of the firm / value of intermediate goods used by the firm.
Option 4: value of production of the firm + value of intermediate goods used by the firm.
Question : Directions: Arrange the given words in the sequence in which they occur in the dictionary. 1. Examination 2. Explicit 3. Expenditure 4. Experience
Option 1: 1, 4, 3, 2
Option 2: 1, 2, 3, 4
Option 3: 1, 4, 2, 3
Option 4: 1, 3, 4, 2
Question : Which of these is not the correctly stated component of the expenditure method of measuring national income?
Option 1: Final investment expenditure by firms
Option 2: Final government expenditure
Option 3: Export plus import expenditure
Option 4: Final consumption expenditure by households
Question : Root hairs arise from
Option 1: cortex
Option 2: pericycle
Option 3: epidermis
Option 4: endodermis
Question : A certain sum becomes 4 times of itself in 5 years at a rate of simple interest. In 15 years it will become how many times of itself at the same rate of simple interest?
Option 1: 12
Option 2: 10
Option 3: 9
Option 4: 8
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