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    MEFA

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    MEFA

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    4 RASIV GANDHI UNIVERSITY OF KNOWLEDGE: ‘TECHNOLOGIES, BASAR (ALY, 2020-2021), Subject Name: MEFA glee Department of Management Date: 16/11/2021 Exam: E3S2EST/ME Code: BM3001 Time: 2 hrs Max Marks: 60 jection-Al i Objective Part {) AUIS bits are compulsory, ii) Each question carries two there is NO Choice in Section-A, 1, Which of the following is an marks, (30 Marks) example of substitutes? 9hTea and coffee 'b) Tea and sugar ©) Pen and petrol. d) Car and Petrol. 2.Carand Petrol are, a) Substitute goods 8) Complimentary goods c) Supplementary goods 4d) Reserve goods 3. Which of the following is NOT a problem of business? a) Optimization of inputs b) Minimization of costs ©) Increased property tax collections dy Maximization of revenue 4.Ep=1 in the case of elasticity. a) Perfectly elastic demand b) Perfectly inelastic demand c) Relative elastic demand dyUnitary elastic demand 5.”Economies is the study of scarce resources and unlimited wants”. Who said this? a} Prof. Lionel Robbins b) Paul A. Samuelson, ¢) Adam Smith 4) Alfred Marshal 6.Price and demand are positively correlated in case of: a)Necessities -n)Giffen goods c)Comforts Luxuries. 7. The supply of a good refers to: a) Stock available for sale b) Total stock in the warehouse c) Actual Production of the good. 9)-Quantity of the good offered for sale at a particular price per unit of time. 8. Demand is determined by a. Price of the product b. Relative prices of other goods c. Tastes and habits ge All of the above. 9.The refrigerator industry is an example of a. Oligopoly. b. monopoly. 7 perfect competition. monopolistic competition. c. . 10. The term Economics" in English language has its ori a. Italic 26 Greek Ind d. Latin c. Indian in in ———-word Scanned with CamScanner 11. Which statement of the following is true? A.AC=TFC+AVC cts, AC=AFCHTVC ¢. AC=AFC+AVC d.AC=TFC-TVC, 12. Under perfect competition, price is determined by the interaction of total demand and a) Total cost ©) Total production by Total utility 4) Total supply. 13.The law of demand states, with increase in price there is a. decrease in quantity demanded b. increase in quantity demanded &rdecreased demand 4d. increased demand. 14. Marketing consists of what? a) Selling at a lower price than rivals sell for D}-Advertising and packaging ©) Producing more output to lower average costs 4d) None of the above answers are correct. 15. Capital budgeting is concerned with:

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