Practice Some 

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Economics Questions

For CA Foundation

Exam 2024

Q1. The indifference curve of two substitute will be:

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(a) Straight line (b) U- Shaped (c) C Shaped (d ) L shaped

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Q2.Sweezy’s Model is related to which market form :

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(a) Oligopoly market (b) Perfect Competition market (c) Monopoly market (d) None of these

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Q3. Price discrimination cannot persist Under which market form –

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(a) Perfect competition (b) Monopolistic Competition (c) Monopoly (d) None of these

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Q4. In law of variable proportion how many stages are there:

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(a) 1 (b) 3 (c) 5 (d) None of these

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Q5. At the stage when Negative Return sets in :

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(a) MP is negative (b) MP is diminishing (c) Either a or b (d) none of these

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Q6. Minimum assured price to the farmers to purchase their output by the government is called:

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(a) Market Price (b) Equilibrium Price (c) Support Price (d) Ceiling Price

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Q7. The income elasticity For Luxuries goods is:

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(a) E > 1 (b) E < 1 (c) E = 0 (d) None of these

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Q8. Unique supply curve is monopoly is not due to -

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(a) P > MC (b) P < MC (c) P = MC (d) None of these

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Answer Key (1) Ans. A (2) Ans. A (3) Ans. A (4) Ans. B (5) Ans. A (6) Ans. C (7) Ans. A (8) Ans. A