Section B, where you choose 1 question out of 2, which covers Development Economics part of the IB Economics syllabus. (d) None of these, 10. Getting perfect score in Class 12 examinations is a dream of every student as it always helps in future and helps to get good rank in school. Look under ‘Past Examination Resources’ and filter by exam year and series. Exam Type: Exam year: Question Type: Get Questions Change Subject Ask Question Check Syllabus Download App. 3. Try to study in the same place at the same time every day. But we shall be concerned mainly with detailed discussion of simple monopoly and discriminating monopoly. This form of business organization is losing ground with the gradual end of the Joint Hindu Family system. The Karta can borrow funds for conducting the business but the other co-partners are liable only to extent of their share in the business. If a partner dies, his interest in the partnership devolves on his heirs, whether they are admitted as partners or not. Economics Past Questions. If the marginal cost is below the average variable cost, the latter will fall. The various experts’ committees that were constituted to advise the government on the management of State enterprises have given divergent and over-contradictory views. Home Expected Questions for Forthcoming Exams Multiple Choice Questions for Economics with Answers Multiple Choice Questions for Economics with Answers ExamGuru 10:33 PM. The monopolized product must be quite distinct from the other products so that neither price nor output of any other seller can perceptibly affect its price-output policy. Durable products present more complicated problems of demand analysis than products of non-durable nature. The order of questions, and items within a question, is randomised each time you take a quiz. (c) Adam Smith On the other hand, durable consumer goods are those which go on being used over a period of time, e.g., a car, a refrigerator, a ready-made shirt, an umbrella and an electric bulb. It has a clear meaning when the products of the various firms are close substitutes. Professionals, Teachers, Students and Kids Trivia Quizzes to test your knowledge on the subject. It is the net effect on costs that is important, not just the costs directly avoidable by the contraction. A partner in a partnership firm, after severing his connections, can ask for ac­counts of past profits and losses but it is otherwise in the case of a co-partner. A partnership is governed by the Indian Partnership Act, but a Joint Hindu Family business is governed by the Hindu Law. are some of the examples of capital goods. 2018 ECONOMICS EXAM 2 SECTION A – continued SECTION A – Multiple-choice questions Instructions for Section A Answer all questions in pencil on the answer sheet provided for multiple-choice questions. Economics is the study of how society uses its limited resources. These exams are from Professor William Wheaton's course, 14.01 Principles of Microeconomics from Fall 2007, and are used with permission. National Development Council was set up in: 2. For example, if the price of a machine at the time of purchase, say, in 2010 was Rs.15,000 and if the present price is Rs.85,000, the original cost of Rs.15,000 is the historical cost while Rs.85,000 is the replacement cost. P.V. Ans. Keep in mind that you will find the book in this site. Unser Team hat im ausführlichen Cambridge economics test Test uns die genialsten Artikel angeschaut und alle brauchbarsten Informationen zusammengetragen. Dr. Reed Neil Olsen - Practice Exam Questions Economics 165 - Principles of Microeconomics. Ans. “An Enquiry into the Nature and Causes of Wealth of Nations” is the book of economist— (A) Adam Smith (B) Marshall (C) Robbins (D) None of above Ans : (A-Adam Smith) 2. This practice test is for reviewing on your economics knowledge. (c) Administrative Reforms Commission But in a Joint Hindu Family business, if a co-partner dies the undivided share of the debased co-partner devolves on the surviving co-partners and not on the heirs of the deceased by succession. Midterm 1 problems ( PDF ) Exam problems and have given divergent and over-contradictory views property by reason of share! Data and how to do it Teachers, Students and Kids Trivia quizzes to test your knowledge on nature... 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