Agriculture MCQs

Page No. 230

An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?


aTariff


bTax


cTacit collusion


dSubsidy


View Answer Tax

An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?


aPure capitalism


bCommand Economy


cClosed economy


dOpen economy


View Answer Pure capitalism

A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?


aPlant


bFirm


cFactory


dNone


View Answer Plant

Legally established maximum price of a good or service__________________?


aCeiling price


bFloor price


cMax price


d None


View Answer Ceiling price

A market in which money of one nation can be used to purchase the money of other nation is called____________________?


a Money market


b International market


c Foreign exchange market


d All of these



An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?


aCompany


bFactory


cFirm


dNone


View Answer Firm

The monetary payment a firm must make to an outsider to obtain a resource____________________?


a Implicit cost


bExplicit cost


cNet cost


dTotal cost


View Answer Explicit cost

To charge different prices for the goods of the same standard is called___________________?


aPrices discrimination


bPrices differentiation


cOligopoly


dPrices elasticity


View Answer Prices discrimination

The total revenue of a film less all its economic costs is called_____________________?


aEconomy Profit


bPure Profit


cAbove normal Profit


dAll these


View Answer All these

An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?


aCommand economy


bClosed economy


cOpen economy


dNone


View Answer Command economy

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