Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Marginal revenue can be defined as the change in total revenue resulting from

1. Purchase of an additional unit of a commodity.
2. Sale of an additional unit of a commodity.
3. Sale of subsequent units of a product.
4. None of these.

The goods used by manufacturer like tools, equipment and plant, etc are known as:

1. Manufactured goods.
2. Intermediate goods.
3. Final producer goods.
4. All of the above.

From the following, in which market, there is a free entry and exit of firms?

1. Monopoly and oligopoly.
2. Monopolistic competition and monopoly.
3. Perfect competition and oligopoly.
4. Perfect competition and monopolistic competition.

The supply curve is usually:

1. Upward rising.
2. Downward sloping.
3. Nothing definite can be said.
4. None of the above.

If the price of 1 USS has fallen from ₹ 56 to ₹ 52, the Indian currency has:

1. Depreciated.
2. Appreciated.
3. Devalued.
4. None.

What happens to ATC when marginal cost is greater than ATC?

1. ATC rises.
2. ATC falls.
3. Slope of ATC becomes constant.
4. None of the above.

Suppose the technology for producing personal computers improves and, at the same time, individuals discover new uses for personal computers so that there is greater utilisation of personal computers. Which of the following statements/ factors will happen to equilibrium price and equilibrium quantity?

1. Price will increase; quantity cannot be determined.
2. Price will decrease; quantity cannot be determined.
3. Quantity will increase; price cannot be determined.
4. Quantity will decrease; price cannot be determined.

In monopolistic competition the goods are.

1. Durable.
2. Differentiated.
3. Heterogeneous.
4. Homogeneous.

If there is shortage of certain goods, the government introduces ________ for distribution of commodity to consumers.

1. planning.
2. marketing.
3. rationing.
4. financing.

_______ is a fund created by the producers to meet the upcoming depreciation losses in the process of production.

1. Capital reserve fund.
2. Depreciation reserve fund.
3. Share reserve fund.
4. None of the above.