Q.41)-A black market is a situation where in
  • Goods are loaded by the producers
  • Goods are sold secretly
  • Goods are sold at prices higher than what is fixed by the government
  • Foods are made avilable only after there is a rise in prices
Q.42)-A closed economy is one which
  • Does not trade with other countries
  • Does not possess any means of international transport
  • Does not have a coatal line
  • is not a member of the U.N.O
Q.43)-Free Trade refers to
  • Free movement of goods from one country to another
  • Movement of goods free to cost
  • unrestricted exchange of goods and service
  • Trade free of duty
Q.44)-With which form of economy is the term 'Laisser-Faire' assiciated
  • Capitalist economy
  • Socialist economy
  • Mixed economy
  • Command economy
Q.45)-Externality theory is the basic theory of the following branch of Economics
  • Environomics
  • Fiscal Economics
  • unrestricted exchange of goods and service
  • Trade free of duty
Q.46)-Which of the following is part of teritary sector
  • Power and transportion
  • Animal Husbandry
  • Cotton manufacturing
  • Cultivation of crops
Q.47)-Economies of a firm is
  • An increase in its profile
  • A reduction in its elling expenses
  • its dominance of the market
  • Saving it production costs
Q.48)-Short term contraction and expansions economic activity are called __________
  • Expansion
  • Recession
  • Deficits
  • Business cycle
Q.49)-In terms of economics, if it possible to make someone better-off without makeng someone worse-off, then situation is
  • Inefficient
  • Efficient
  • Optimal
  • Pareto-superior
Q.50)-The goods which people consume more, when their price rises are called _____
  • Essential goods
  • Capital goods
  • Veblen goods
  • Giffen goods