People As Resource Test

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People As Resource Test - 15

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SHARING IS CARING

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Weekly Quiz Competition

Question 1
1 / -0

Dependence of Unproductive Consumers is called____.

A
overpopulation

B
dependency load

C
unemployemnt

D
population explosion
Question 2
1 / -0

Which of the following is a positive impact of Economic Reforms on the Indian Economy?

A
Focus on Brand Building in an increasingly competitive market place

B
Shift from labour-intensive to capital-intensive methods of production

C
Stress on quality and R & D

D
All of the above

Solution

Positive impact of Economic Reforms on the Indian Economy are :-a)Focus on Brand Building in an increasingly competitive market place

b)Shift from labour intensive to capital-intensive methods of production
c)Stress on quality and R & D
Economic reforms are taken by the Indian government, which emphasized LPG model- liberalization, privatization and globalization.
Question 3
1 / -0

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

A
Simplified

B
Made more procedural

C
Subject to Central Government approval in all situations

D
None of the above

Solution

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.
Question 4
1 / -0

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

A
Advertising Economies

B
Inventory Economies

C
Transportation Economies

D
Storage Economies

Solution

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.
Question 5
1 / -0

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

A
Still Increasing Returns to Scale

B
Constant Returns to Scale

C
Diminishing Returns to Scale

D
None of the above

Solution

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.
Question 6
1 / -0

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

A
Has No-profits-No-Loss

B
Earns Normal Profits

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

D
Incurs Looses in the accounting sense

Solution

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.
Question 7
1 / -0

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

A
Same satisfaction

B
Greater satisfaction

C
Maximum satisfaction

D
Decreasing expenditure

Solution

An indifference curve slopes down towards right since more of one commodity and less of another result same satisfaction to the consumer.
Question 8
1 / -0

Comforts lies between the.

A
Inferior goods and necessaries

B
Luxuries and inferior goods

C
Necessaries and luxuries

D
None of the above

Solution

Comforts lies between necessaries and luxuries because comforts refer to those goods which are not required for a happy living.
Question 9
1 / -0

In the book market, the supply of books will decrease if any of the following occurs except.

A
A decrease in the number of book publishers

B
A decrease in the price of the book

C
An increase in the future expected price of the book

D
An increase in the price of paper used

Solution

One is the case of movement(not shifting) and others are case of shifting of supply.
Question 10
1 / -0

India's National Population Policy aims at____.

A
reducing infant mortality rate

B
reducing maternal mortality rate

C
reducing birth rate

D
all of the above

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Re-Attempt Weekly Quiz Competition

People As Resource Test - 15

Result

People As Resource Test - 15

Score

-

Rank

-

SHARING IS CARING

Question 1

overpopulation

dependency load

unemployemnt

population explosion

Question 2

Focus on Brand Building in an increasingly competitive market place

Shift from labour-intensive to capital-intensive methods of production

Stress on quality and R & D

All of the above

Solution

Question 3

Simplified

Made more procedural

Subject to Central Government approval in all situations

None of the above

Solution

Question 4

Advertising Economies

Inventory Economies

Transportation Economies

Storage Economies

Solution

Question 5

Still Increasing Returns to Scale

Constant Returns to Scale

Diminishing Returns to Scale

None of the above

Solution

Question 6

Has No-profits-No-Loss

Earns Normal Profits

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

Incurs Looses in the accounting sense

Solution

Question 7

Same satisfaction

Greater satisfaction

Maximum satisfaction

Decreasing expenditure

Solution

Question 8

Inferior goods and necessaries

Luxuries and inferior goods

Necessaries and luxuries

None of the above

Solution

Question 9

A decrease in the number of book publishers

A decrease in the price of the book

An increase in the future expected price of the book

An increase in the price of paper used

Solution

Question 10

reducing infant mortality rate

reducing maternal mortality rate

reducing birth rate

all of the above

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