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Business Economics Test
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Avg score: 20% • Most missed: “______ is the main feature of monopoly.”
Business Economics Test
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25 Questions

1. In case of _____ demand, a slight change in the price will make greater change in demand.
2. If increasing return is applicable law of _____ cost will also apply.
3. ______ is the main feature of monopoly.
4. TPP and EMPP are _____
5. If the demand of the commodity changes at faster rates than the change in the price of the commodity, the demand of the commodity will be known as ______.
6. he short run Average Cost curve is __ shaped.
7. Change in the commodity due to change in the price of the substitute is an example of _____.
8. The producer under monopoly is _______.
9. Typically the supply curve _______________-
10. In real life neither perfect competition nor ______ situation are found.
11. In black marketing goods are sold at a price_____ that the maximum price fixed by the government.
12. With the expansion of scale of production benefit enjoyed by all firms are known as ___.
13. At breakeven point contribution would be ____.
14. Under market period the supply is ________.
15. The price, on which demand and supply are ____, is called normal price.
16. Economics, according to______is the science of wealth.
17. TR=?*p
18. The demand will be _____ if there is no change in the demand of the commodity, in spite of the change in the price of the commodity.
19. Breakeven point is also called _______.
20. Law of increasing return applies because of ____.
21. TFC+? /TQ=AC
22. The supply can be adjusted according to the tastes of consumers in ____ period.
23. The fixed costs in the short run are _____.
24. ________ is not possible in competition which has elastic demand.
25. Market of gold and silver is____market.

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