Tag: economics

Questions Related to economics

If as a result of a 50% increase in all inputs, the output rises by 75%, this is a case of:

economics laws of returns - returns to a factor and returns to scale total product, average product and marginal product production and law of variable proportions production return to scale and cobb douglas function

  1. Increasing Returns to a Factor

  2. Increasing Returns to Scale

  3. Constant Returns to a Factor

  4. Constant Returns to Scale

Show answer
Correct Option: B

In the very beginning of production generally, the Increasing Returns to scale is found because-

economics laws of returns - returns to a factor and returns to scale total product, average product and marginal product production and law of variable proportions production return to scale and cobb douglas function

  1. Input is increased

  2. Plant and Machinery will be new

  3. Production Problems are less

  4. Economies of Scale

Show answer
Correct Option: D

A rational producer will always operate in which stage of law of variable proportion?

economics laws of returns - returns to a factor and returns to scale total product, average product and marginal product production and law of variable proportions production return to scale and cobb douglas function

  1. increasing returns.

  2. diminishing returns.

  3. constant returns.

  4. negative returns.

Show answer
Correct Option: B

Second stage of law of variable proportion ends where __________.

economics laws of returns - returns to a factor and returns to scale total product, average product and marginal product production and law of variable proportions production return to scale and cobb douglas function

  1. MP is zero

  2. AP is maximum

  3. MP is falling

  4. none of the above

Show answer
Correct Option: A

China's railway track length is ______ times more than India's railway track length in 2015.

economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

  1. 0.7

  2. 0.2

  3. 2.5

  4. 1.5

Show answer
Correct Option: D

China and India have been performing really well in terms of __________ in comparison with other economies since the last 25 years.

economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

  1. GDP growth

  2. population control

  3. inflation control

  4. none of the above

Show answer
Correct Option: A

India has a higher rate of investment as compared to China.

economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

  1. True

  2. False

Show answer
Correct Option: B

China has been termed as the '_______________'.

economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

  1. workshop of the world

  2. major importer in world trade

  3. both a and b

  4. none of the above

Show answer
Correct Option: A

India adopted a _________ economy framework, while China in comparison is follows a socialist economy framework.

economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

  1. capitalist

  2. mixed

  3. socialist

  4. free market economy

Show answer
Correct Option: B

Post 1949 revolution, China's economic system was declared as a __________ system.

economics comparative studies of indian and chinese economies comparing indian and chinese economies comparative development experiences of india and its neighbours economics of development

  1. capitalist

  2. communist

  3. mixed economy

  4. socialist

Show answer
Correct Option: B