Multiple Choice Questions

Topics: Supply and demand, Economics, Neoclassical economics Pages: 13 (1563 words) Published: April 29, 2013
II-Mid Semester Examination
October, 2010
Industrial and Managerial Economics
Time: ½ hourMarks : 15
Answer all Questions

1. Among the following factors, what are the factors that determine the optimum size of the firm A (i) Technical forces.
B (ii) Managerial factor.
C (iii) Financial factor.
D (IV) Marketing factor.
(v) Factor of fluctuations and risk providing.

A. i and ii B. ii and iv C. iii and v D. All the five


2. The concept of Representative firm is given by

A. Alfred Marshall B. E.A.G. Robinson C. A.C. Pigou D. A.K. Sen

Ans: A

3. Who has defined the concept of optimum firm?

A. A.C. Pigou B. K.S.Resh C. E.A.G. Robinson D. John Robinson

Ans: C

4. Labour Economics deals with

A. Man Power planning
B. Organisation
C. Labour relations and public policy
D. All the above

Ans: D

5. In Economic sense, what is Labour

A. Any work which is undertaken for monetary purpose.
B. Any work whether manual (or) mental, which is undertaken for monetary purpose. C. Any manual work which is undertaken for monetary purpose. D. None of the above.


6. What is the origin of Industrial Revolution?

A. Wheel B. paper C. Market D. None of these.

Ans: A

7. Labour problems arise when

A. The various factors of production are produced by one and the same person. B. Labour is treated as a separate factor of production.
C. The various factors of production are produced by different people. D. Labour is supplied by agents.

Ans: C

8. Which factor (of production) became a critical factor by industrial revolution?

A. land B. labour c. capital D. organization.

Ans: C

9. Industrial Revolution first took place in

A. Germany B. Japan C. England D. France

Ans: C
10. Industrial Revolution means

A. Technology replaced by manpower
B. Man power replaced by machines
C. Man power replaced by technology
D. None of these.

Ans: C

11. In developed countries, Industries come under

A. Primary sector B. Secondary sector C. Tertiary sector D. None of these

Ans: A

12. Industrial Revolution brought about drastic changes in

A. The working methods
B. Man power management
C. Industrial relations
D. All the above.

Ans: D

13. What are the labour problems in a developing country with reference to India?

A. Absenteeism, Indebtedness
B. Difference in the level of wages.
C. Technology
D. Only (a) and (b)

Ans: D

14. Which is not a social and economic effect of Industrial Revolution?

A. Improved roads and railways
B. Increasing poverty
C. Trade Expansions
D. Construction of canals.

Ans: B

15. Which is the feature of Labour Market?

A. Unlike Commodity Market
B. Mobility Market
C. Perfect Competition
D. All the above.

Ans: A

16. The economic system of any nation is influenced by

A. The philosophy of people
B. Ideals of people
C. Desires and attitudes of people
D. All the above

Ans: D

17. Which economic system is being followed in India

A. Mixed economic system
B. Capitalistic economic system
C. Communist economic system
D. None of these

Ans: A

18. Which country is following Communist economic system

A. Cuba B. U.S.A c. Pakistan d. Germany...
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