A. | Production |
B. | Consumption |
C. | Productivity |
D. | Techniques of production |
Option: B Explanation : Click on Discuss to view users comments. |
A. |
Free trade equalises cost of production between nations
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B. |
Cost of trade equals factor prices between countries
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C. |
Free trade equalises not only commodity prices but also factor prices.
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D. | None of the above. |
Option: C Explanation : Click on Discuss to view users comments. |
GATT prescribes export subsidies as
A. | Competition |
B. | Unfair competition |
C. | Monopolistic competition |
D. | Exploitation |
Option: B Explanation : Click on Discuss to view users comments. |
Producer surplus is
A. |
Net gain in producer revenue minus cost
|
B. | Net profit after payment of taxes |
C. | The reciprocal of consumer surplus |
D. |
The surplus value of labour kept with the producer.
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Option: A Explanation : Click on Discuss to view users comments. |
List-I |
List-II |
a. Common market |
I. OPEC |
b. Cartel |
II. EC |
c. Free-trade area |
III.EFTA |
d. Customs union |
IV.EEC |
A. | a b c d I II III IV |
B. | a b c d IV III II I |
C. | a b c d II I III IV |
D. | a b c d I II IV III |
Option: C Explanation : Click on Discuss to view users comments. |