A. Increasing cost industry
B. Decreasing cost industry
C. Declining industry
D. None of these
Related Mcqs:
- An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?
A. Declining industry
B. Decreasing cost industry
C. Both
D. None - An increase either in real output (GDP) or in real output per capita is called___________________?
A. Economic development
B. Economic growth
C. Growth rate
D. Economic efficiency - A measure of average output or real output per unit of input is called____________________?
A. Efficiency
B. Production
C. Productivity
D. None - “Economics is the study of causes of material welfare” was defined by___________________?
A. Adam Smith
B. Marshall
C. Robins
D. Marks - The branch of economics which analyze govt. revenues and expenditures is__________________?
A. Public revenue
B. Public finance
C. Public good
D. None - A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?
A. Macroeconomic
B. Micro economic
C. Positive economic
D. Normative economic - In________________ economics we look at desirability of certain aspects of the economy ?
A. Theoretical
B. Positive
C. Normative
D. None - Noble prize of Economics in 1979 was awarded to________________?
A. W. Arthur Lewis
B. Theodore Schultz
C. Both a and b
D. None - Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?
A. Economics of scale
B. Economics of mass production
C. Both of these
D. None of these - A section in a nation’s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ?
A. Current account
B. Fixed account
C. Saving account
D. Capital account
