Q.41)-One of the following is Labour' in Economics-
  • A Musician performing for a benefit fund
  • A Painter working for his own pleasure
  • Reading a book as a hobby
  • A mother teaching her own son
Q.42)-Depreciation is loss in value of-
  • Final goods
  • Machinery
  • Capital stock
  • Stock of inventory
Q.43)-If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity?
  • 20000
  • 10000
  • 15000
  • 12000
Q.44)-A minimum wage _________________
  • Is the price floor below which workers may not sell their labour
  • Is set a price below the equilibrium wage
  • Creates a price celling below which the wage cannot legally go
  • Decrease unemployment
Q.45)-For a certain shoe factory the fixed costs are Rs 200,000, selling price is Rs 2000 per pair of shoes and variable cost is Rs 1200 per pair, what is the breakeven quantity?
  • 100
  • 62.5
  • 167
  • 250
Q.46)-Insure payment of minimum wages for tea leave pickers-
  • Will improve quality of tea
  • Will reduce unemployment of tea leave pickers
  • Decrease unemployment
  • Will increase picking cost for all tea companies
Q.47)-Which of the following is false about minimum wages?
  • A minimum wage law benefits all unskilled workers
  • A minimum wage harms firms by forcing them to pay higher wages
  • A minimum wage harms customers because the law usually leads to higher wages
  • A minimum wage increase unemployment
Q.48)-7 workers work in a printing press.Each gets paid Rs 450 per day. The 8th worker demands Rs 500 per day. If this worker is hired then all other workers must be paid Rs 500. The marginal resource (labour) cost of the 8th worker is ______________.
  • Rs 50
  • Rs 850
  • Rs 400
  • Rs 100
Q.49)-Which among of the following is a factor of production?
  • Coal
  • Entrepreneur
  • Energy
  • Industry
Q.50)-Which activity is not included in production?
  • Production of wheat by a farmer
  • Production of medicines by a company
  • Services given by a nurse in hospital
  • Services done by a house-wife in her own house