B.Com. 2nd Semester Business Economics-II Exam
24 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

A firm should shut down in the short run if it cannot cover its:

  • Total cost
  • Variable cost (correct)
  • Explicit cost
  • Fixed cost
  • In the context of the business cycle, which of the following is important for managerial decisions?

  • Adjusting production levels
  • Deciding on market entry
  • Evaluating new product success
  • All of the above (correct)
  • As output increases in the short run, average fixed cost will:

  • Increase
  • Remain constant
  • First decline then rise
  • Decrease (correct)
  • What does Keynes suggest is the primary determinant of interest rates?

    <p>Supply and demand for money</p> Signup and view all the answers

    In Profit Definitions, economic profit differs from accounting profit primarily because it includes considerations of:

    <p>Both explicit and implicit costs</p> Signup and view all the answers

    Which statement regarding Wage Theories is most accurate?

    <p>Wages can be influenced by institutional factors and policies</p> Signup and view all the answers

    Which phase of the business cycle most often aligns with an expansionary monetary policy?

    <p>Recovery</p> Signup and view all the answers

    What is the impact of increasing marginal productivity on a firm's decision to hire additional labor?

    <p>Firms will hire until marginal productivity equals marginal cost</p> Signup and view all the answers

    What concept determines the reward for labor according to the marginal product theory?

    <p>Marginal product</p> Signup and view all the answers

    Which of the following is NOT a characteristic of capital as a factor of production?

    <p>Never depreciate</p> Signup and view all the answers

    Which individual is associated with the uncertainty-bearing theory of profit?

    <p>H. Knight</p> Signup and view all the answers

    Which type of rent is not categorized as one of the kinds of rent?

    <p>Mobility Rent</p> Signup and view all the answers

    Why is interest paid according to economic principles?

    <p>Capital is scarce</p> Signup and view all the answers

    In terms of average fixed cost, which statement is accurate?

    <p>It decreases as production increases.</p> Signup and view all the answers

    Which wage theory emphasizes that wages are determined by the marginal productivity of labor?

    <p>Marginal Productivity Theory</p> Signup and view all the answers

    Which of the following situations would NOT typically lead to differences in wages according to wage theories?

    <p>Homogeneity of workers' skill levels</p> Signup and view all the answers

    Which theory associates John's name with the concept of productivity in relation to wages?

    <p>Marginal productivity theory</p> Signup and view all the answers

    How is profit defined in economic terms?

    <p>Residual Income</p> Signup and view all the answers

    What key aspect is included in Keynesian Theory concerning economic performance?

    <p>Role of government spending</p> Signup and view all the answers

    Which of the following best describes Average Fixed Cost?

    <p>Total fixed cost divided by total output</p> Signup and view all the answers

    In economic theory, which concept describes the constraints faced by workers in the wage market?

    <p>Iron Law of Wages</p> Signup and view all the answers

    Which theory posits that wages are fundamentally determined by the value of the marginal product of labor?

    <p>Marginal Productivity Theory</p> Signup and view all the answers

    Which of the following factors is NOT considered a component in determining profit according to economic definitions?

    <p>Market speculation</p> Signup and view all the answers

    What economic condition does the Wage Fund Theory primarily address?

    <p>The natural limitation of wage levels based on available capital</p> Signup and view all the answers

    Study Notes

    Examination Information

    • Examination: B.Com. 2nd Semester Examination, 2022
    • Subject: Business Economics-II
    • Course Type: CBCS Mode
    • Paper ID: 5083
    • Time: 1.5 hours
    • Maximum Marks: 60

    Instructions

    • Students must answer all 40 questions.
    • Each question carries 1.5 marks.
    • Write roll number only in designated spaces on the cover page and the OMR sheet.
    • Immediately upon receiving the question paper, check for any missing pages. Report any discrepancies within 10 minutes.

    Important Points

    • The question paper contains 40 questions, and all questions must be answered.
    • Each question is worth 1.5 marks.
    • Candidates are to write their roll numbers only in the designated spaces on the cover page and the OMR sheet provided, not elsewhere.
    • Check the question paper thoroughly to ensure all pages are present and no questions are missing.
    • Report any discrepancies in the question booklet to the invigilator within 10 minutes.
    • A replacement question paper will be provided if needed.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Description

    Prepare for the B.Com. 2nd Semester Examination in Business Economics-II with this comprehensive quiz. Designed to help you tackle all 40 questions efficiently, each worth 1.5 marks, ensuring you understand key concepts. Make sure to follow the provided instructions for a smooth examination experience.

    More Like This

    International Economics Quiz
    5 questions

    International Economics Quiz

    AdorableNovaculite2697 avatar
    AdorableNovaculite2697
    Introduction to Business Economics
    8 questions
    M.Com Semester 1 Overview Quiz
    10 questions
    Overview of M.Com 1st Semester
    8 questions
    Use Quizgecko on...
    Browser
    Browser