Tag: organisation of commerce and management

Questions Related to organisation of commerce and management

In India, Support to Exporters is available in the form of:

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Duty and Tax Concessions

  2. Export Finance

  3. Export Promotion Marketing Assistance

  4. All of the above

Show answer
Correct Option: D
Explanation:

In India, the exporters get a lot of benefit as they complete in the international market with the foreign goods. There is tax concessions on many exported items, exported items get a separate marketing assistance at national level and there is export financial inclusion for many exporting firms who needs them.   

100% FDI allowed in _______________.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Drugs & Pharmaceuticals

  2. Courier service

  3. Hotels and Tourism

  4. All of the above

Show answer
Correct Option: D
Explanation:
100% foreign direct investment is allowed in:
a) Drugs and Pharmaceuticals
b) Courier service
c) Hotels and Tourism
FDI stands for Foreign Direct Investment. FDI can be defined as a form of investment which controls the ownership of a business in one country by an entity based in another foreign country.

Which of the following is an important ingredient of Selling Economies?

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Advertising Economies

  2. Inventory Economies

  3. Transportation Economies

  4. Storage Economies

Show answer
Correct Option: A
Explanation:

Advertising Economies is an important ingredient of Selling Economies. Advertising helps to increase the sale of a product by encouraging buyers to buy more products or avail more services. 

As a result of Economic Reforms, Re-structuring, Mergers & Acquisitions of Companies, Business Process Re-engineering, processes have been ___________.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Simplified

  2. Made more procedural

  3. Subject to Central Government approval in all situations

  4. None of the above

Show answer
Correct Option: A
Explanation:

As a result of Economic Reforms, Re-structuring, Mergers & Acquisitions of Companies, Business Process Re-engineering, processes have been simplified.

Economic reforms  are taken by the Indian government, which emphasized LPG model- liberalization, privatization and globalization.
Positive impact of Economic Reforms on the Indian Economy are :-a)Improvement in work culture

b) Increase in quality and cost consciousness
c)Increase in Value-Added Exports.

The consumer is in equilibrium at a point where the budget line.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Is above an indifference curve

  2. Is below an indifference curve

  3. Is tangent to an indifference curve

  4. Cuts an indifference curve

Show answer
Correct Option: C
Explanation:

The consumer is in equilibrium at a point where the budget line is tangent to an indifference curve, because it can not intersect the IC either from above or below.

After the initial stages of increasing returns to scale, the Firm will experience ________________________.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Still Increasing Returns to Scale

  2. Constant Returns to Scale

  3. Diminishing Returns to Scale

  4. None of the above

Show answer
Correct Option: B
Explanation:

In economic terms, constant returns to scale is when a firm changes its inputs with the results being exactly the same change in outputs (production). In other words, if a firm increases its inputs they will see a proportional increase in production (or outputs). 

The similar can be true if a firm decreases its inputs and that results in a proportional decrease in outputs. Constant returns to scale take place when increasing the number of inputs leads to an equivalent increase in the output.

 Thus, the correct option is B.

Which of the following statement is true?

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Accumulation of capital depends solely on income

  2. Savings can also be affected by the State

  3. External economies go with size and internal economies with location

  4. The supply curve of labour is an upward slopping curve

Show answer
Correct Option: B
Explanation:

Since govt.  also earn income it can also effect savings.

When Total Revenue equals Economic Costs, it means that the firm________________.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Has No-profits-No-Loss

  2. Earns Normal Profits

  3. Earns more than Normal Profits (i.e. Super -Normal Profits)

  4. Incurs Looses in the accounting sense

Show answer
Correct Option: B
Explanation:

Accounting profit is the monetary costs a firm pays out and the income a firm receive. It is the accounting profit, and it is higher than economic profit. 

Accounting profit = total monetary revenue- total costs. 

Economic profit is the monetary costs and opportunity costs a firm pays and the revenue a firm receives.The level of profit that occurs when total revenue is equal to total cost. This stage indicates that a firm is doing just as well as it would have if it had selected to use its income to produce a different product or struggle in a different industry.

Common profit is also known as zero monetary profit.

Thus, the correct option is B.

An indifference curve slopes down towards right since more of one commodity and less of another result in.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Same satisfaction

  2. Greater satisfaction

  3. Maximum satisfaction

  4. Decreasing expenditure

Show answer
Correct Option: A
Explanation:

An indifference curve slopes down towards right since more of one commodity and less of another result same satisfaction to the consumer.

Internal Economies and Diseconomies arise due to ________________.

organisation of commerce and management economics of development and planning fundamental of economic development economics of development economic mechanism

  1. Overall industry-level changes

  2. Changes at the Firm level

  3. Both (a) and (b)

  4. Neither (a) nor (b)

Show answer
Correct Option: B
Explanation:

Internal Economies and Diseconomies arise due to changes at the Firm level.Internal Economies and Diseconomies in operations depend on the internal factors within the firm.
Internal Economies or diseconomies can be defined as a situatiion when the production of the firm gets affected because of the internal factors of the firm only.