The process of reasoning from particular to general is

(a)

Deductive method

(b)

Inductive method

(c)

Positive economics

(d)

Normative economics

Normative Science is concerned with_______________.

(a)

Wealth

(b)

human wants

(c)

what ought to be

(d)

how? and why

An Iso - quant curve is also known as

(a)

Inelastic Supply Curve

(b)

Inelastic Demand Curve

(c)

Equi-Marginal Utility

(d)

Equal Product Curve

Explicit costs are termed as

(a)

out of pocket expenses

(b)

real cost

(c)

social cost

(d)

sunk cost

When price remains constant, AR will be _____ MR.

(a)

equal to

(b)

greater than

(c)

less than

(d)

not related to

Theory of distribution is popularly known as,

(a)

Theory of product-pricing

(b)

Theory of factor-pricing

(c)

Theory of wages

(d)

Theory of interest

The First Paper Mill was set up in 1812 at Serampur in ________________

(a)

Uttarpradesh

(b)

Mumbai

(c)

West Bengal

(d)

Assam

The new Industrial policy on july 24,_______________ ?

(a)

1993

(b)

1991

(c)

1995

(d)

1996

At present, Tamil Nadu is the India's second-biggest producer of rice, next only to

(a)

Punjab

(b)

Andhra Pradesh

(c)

Karnataka

(d)

West Bengal

The elasticity of demand is the ratio of

(a)

Marginal demand function and Revenue function

(b)

Marginal demand function to Average demand function

(c)

Fixed and variable revenues

(d)

Marginal Demand function and Total demand function