Classical

December 2013 - Paper2

11:  

Business Economics is a subject which

A.

studies economic relationships

B.
studies economic activities at the aggregate level
C.
deals with the tools of economics used for decision making in business
D.
studies optimum allocation of Iimited resources
 
 

Option: B

Explanation :


12:  
Match List - I with List - II and select the correct code for the answer :
 
List - I                                                                       List - II
 
(a) Cross elasticity is zero
 
 (i) Price = AVC
(b) Shut-down point
 
(ii) Two commodities are independent
(c) Slutskly theorem
 
(iii) Transformation Line
(d) Production Possibility Curve
 
(iv) Substitution Effect

Codes

 

A.

(ii) (iv) (i) (iii)

B.

(iii) (ii) (iv) (i)

C.

(i) (iii) (ii) (iv)

D.

(ii) (i) (iv) (iii)

 
 

Option: C

Explanation :


13:  
Assertion (A): The demand curve has negative slope showing inverse relationship between price and the quantity demanded.
Reason (R) : This applies only to Giffen goods.
A.

Both (A) and (R) are true.

B.

(A) is true, but (R) is false.

C.

(A) is false, but (R) is true.

D.

Both (A) and (R) are false.

 
 

Option: B

Explanation :


14:  
The consumer is said to be in equilibriurn when he plans his expenditure on x, y and z commodities in such a way that he ultimately attains :
A.

MUx=MUy=MUz

B.

commerce solved paper

C.

commerce december 2013 paper

D.

ugc net commerce solved paper

 
 

Option: A

Explanation :


15:  
Match the items in List - I with those in List - II and select the correct code for the answer :
 
List - I                                                                 List - II
 
(a) MonoPoly
 
(i) Price Tracker
(b) Monopolistic competition
 
(ii) Homogeneous product's price maker
(c) Perfect Completion
 
(iii) Heterogeneous product
(d) Oligopoly
 
(iv)  Price Rigidity

Codes

A.

(ii) (ii) (i) (iv)

B.

(i) (ii) (iv) (iii)

C.

(iv) (ii) (iii) (i)

D.

(iv) (ii) (i) (iii)

 
 

Option: B

Explanation :




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