Economics MCQs

Commerce Objective Questions

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1268. Which one of the following is not helpful in increasing productivity?

A. Increase in capital product ratio

B. Replacement of labour with capital according to the change in price ratios

C. Learning from action

D. None of the above

1269. What happens when the consumer moves away from the origin into a higher indifference curve?

A. The consumer reaches a less preferred combination of goods

B. The consumer reaches a more affordable combination of goods

C. The consumer reaches a more preferred combination of goods

D. None of the above

1270. The costs that depend on the output in the short run are

A. Total variable cost

B. Both, total variable costs and total costs

C. Total cost only

D. Total fixed cost only

1271. The first five year plan of India was based on

A. Mahalanovis model

B. Feldman model

C. Harrod-Domar model

D. Nehan-Mahalanovis model

1272. When average cost is declining

A. Marginal cost must be declining

B. Marginal cost must be above average cost

C. Marginal cost must be below average cost

D. Marginal cost must be rising

1273. The 'substitution effect' takes place due to change in

A. Income of the consumers

B. Prices of the commodity

C. Relative prices of the commodities

D. All of the above

1274. Which of the following commodities has the lowest elasticity of demand?

B. Black pepper

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