Important One Liner Economics 500 Question – Gk By Mr. DJ
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- What is the market with large number of big firms – oligopoly
- In which market conditions firms are dominant – monopolistic competition
- When complete market conditions exist – when there are a large number of buyers and sellers.
- Firms are often price takers under the full competitive market
- When a firm’s equilibrium will be determined under full competition – Marginal power > Average cost
- Who determines the equilibrium price in the market- Equality between marginal cost and marginal revenue.
- Who supported the notion of division of labor- Smith
- Don’t take interest in building a privately-based structure because – it takes a long time to get its return.
- Gold is mainly related to- international market
- Which region pays the highest tax – industrial sector
- Blue and White Revolution are associated with- Fishing and Dairy Industry
- Who are the Golden Revolution related to – Horticulture and Beekeeping.
- In economics, equilibrium means equal balance
- SEZ stands for- Special Economic Zone
- An Information Technology Special Economic Zone Next Zone is being set up – in Panvel, Maharashtra
- When there is a change in the price of a commodity, its demand does not change. What demand will it be called – completely inelastic
- What happens when the productivity of labor increases – the labor demand curve shifts to the right.
- What will happen to the tax rates during the time of inflation – increase
- To what does marginal cost equal- change in total cost divided by volume variable
- The need to generate demand- Income
- According to the scale, the law of consideration is a notion of long- run production.
- Internal rate of return – equals the present value of benefits equal to the present value of costs.
- The incremental return rule means loss of cost.
- The third condition of the variable ratio rule is called – negative consideration.
- If there is a proportional change in the product due to change in all the investments, then it becomes a matter related to – Fixed Return in Scale
Polity 500 One Liner Questions And Answers