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important for :
CGLTier 1 SSC 10+2

  • 1. Under which market condition do firms have excess capacity?
    A. Perfect competition B. Monopolistic competition
    C. Duopoly D. Oligopoly

  • 2. Price theory is also known as 
    A. Macro Economics B. Development Economics
    C. Public Economics D. Micro Economics

  • 3.
    The terms “Micro Economics” and “Macro Economics” were coined by
    A. Alfred Marshall B. Ragner Nurkse
    C. Ragner Frisch D. J.M. Keynes

  • 4. ‘Economics is what it ought to be’ - This statement refers to
    A. Normative economics B. Positive economics
    C. Monetary economics D. Fiscal economics

  • 5.
    The excess of price a person is to pay rather than forego the consumption of the commodity is called
    A. Price B. Profit
    C. Producers’ surplus D. Consumer’s surplus