Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question

Interest payments are subtracted from which deficit to arrive at Primary Deficit:

1. Revenue Deficit.
2. Capital Deficit.
3. Fiscal Deficit.
4. None of these.

Pure oligopoly is based on the ________ products.

1. differentiated.
2. homogeneous.
3. unrelated.
4. None of these.

Which one of the following options is an economic activity?

1. Listening to music on the radio.
2. Teaching one's own son at home.
3. Medical facilities rendered by a charitable dispensary.
4. A housewife doing household duties.

A manufacturer supplies good in such a way that if the price rises by 10%, they are prepared to supply 15% more. In this case, elasticity will be best described as:

1. Inelastic.
2. More than unitary elastic.
3. Perfectly elastic.
4. Unitary elastic.

If nominal GDP is ₹ 21,000 crore and real GDP is ₹ 20,000 crore, find GDP deflator?

1. 100%
2. 104%
3. 105%
4. 95.24%

When average cost falls, marginal cost:

1. Falls.
2. Rises.
3. May fall or may rise.
4. Neither falls nor rises.

Aggregate demand can be increased by:

1. Increasing bank rate.
2. Selling government securities by Reserve Bank of India.
3. Increasing cash reserve ratio.
4. None of the above.

_______ is not a condition of producer's equilibrium in perfect competition.

1. MC = MR, where MC cuts MR from above.
2. MC = MR, where MC cuts MR from below.
3. AR = MR.
4. AR = Price.

Assume that consumers' incomes and the number of sellers in the market for goods A both decrease. Based upon this information, we can conclude, with certainty, that the equilibrium _________.

1. price will increase.
2. price will decrease.
3. quantity will increase.
4. quantity will decrease.