Business Economics and Business and Commercial Knowledge - 4 mtp MTP

2. Central Problems of an Economy: (a) What to Produce (b) How to Produce (c) For Whom to Produce (d) All the above 3. | The Characteristics of Production Possibility Curve: (a) Slopes downwards from left to right (b) PPC is concave to the origin (c) BothAandB (d) None of these

Avaibility of close Substitutes makes the demand: (a) more elastic (b) less elastic (c) Parallel to Y Axis (d) None of these When Total product is 100 and units of variable factor are 4, average product will be: (a) 400 (b) 25 (c) 104 (d) None of these When average cost (AC) is falling: (a) MC<AC (b) MC>AC (c) MC=AC (d) None of these Which of the following describe a Typical Business Cycle? (a) Economic Expansions are followed by Contraction’s.…

3. | Expenditure made from Pradhan Mantri Rahat Kosh (a) Only1 (b) Only 2 (c) Only 3 (d) All 1, 2and 3 Which of the following is key operational target in a Budget? (a) Fiscal Deficit (b) Revenue Deficit (c) The General Government Debt (d) The Central Government Debt If a Ministry falls short of approved budget in a scheme, what is the process to get additional budget through Parliament? (a) Supplementary (b) Re-appropriation (c) Transfer of balances (d) Vote…