Question : Which of the following statement is correct? Statement 1: Price of goods and services are expressed in monetary terms. Statement 2: Price maybe called by various names such as fare,tuition fee,rent,salary and wage.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.
Correct Answer: Both are true
Solution : Price of goods and services are expressed in monetary terms. Price maybe called by various names. For example price for transportation is known as fare, price for education is known as tuition fee, price for executive job is known as labour, price for apartment is known as rent, price for labour is known as wage, etc.
Hence, option A is correct.
Question : Which of the statement is true? Statement 1- Healthy working condition is a personal objective of management. Statement 2- Quality product at fair price is an organisational objectives.
Option 4: Statement 2 is true and statement 1 is false.
Question : Which of the following statement is correct? Statement 1- The aim of both Henry and Taylor principal is to secure maximum from available resources. Statement 2- Taylor’s contribution is expressed as scientific management.
Question : Statement 1: Goods and Services Tax (GST) is a direct tax.
Statement 2: GST is levied on goods and services.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Question : Statement 1: Monetary includes insuring the progress of the venture as planed. Statement 2: Concern for employee welfare includes believing in employee well being as the key to competitiveness and success.
Option 4: Statement 1 is false and statement 2 is true
Question : Statement 1: From the point of view of the firm innovation maybe cost increasing. Statement 2: entrepreneurship is creative in the sense that it involves creation of value.
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