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