CA Foundation Economics Question Paper May 26 with Answers
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1. A group of firms which explicitly collude to coordinate their activities in industries where there are a few firms, all of which are similar in size may be referred to as ______
(A) Perfect competition
(B) Cartel
(C) Oligopsony
(D) Bilateral monopoly
2. Choose the correct statement about Duopoly from the following statements.
(A) It is a special case for the Oligopoly market structure
(B) It is a special case for the Monopsony market structure
(C) It is a special case for the Monopoly market structure
(D) It is a special case for the Imperfect Competition
3. When goods are sold, based on product differentiation, it is known as
(A) Collusive oligopoly
(B) Imperfect oligopoly
(C) Partial oligopoly
(D) Syndicated oligopoly
4. The ‘Theory of Games’ which provided a different approach to the analysis of strategic behaviour of the oligopolists under uncertainty was developed by ______
(A) Alfred Marshal
(B) Adam Smith
(C) Von Neumann & Oskar Morgentern
(D) Paul A Sweezy
5. Assume the cost of producing 500 units to be ₹ 25,000. Investment of the entrepreneur in his business is ₹ 1,50,000. Rate of normal market return is 10%. The selling price at which the firm will earn supernormal profit is:
(A) ₹ 78
(B) ₹ 80
(C) ₹ 82
(D) ₹ 76
6. Controlling credit by not lending to selective industries or speculative business is referred to as ______
(A) Moral suasion
(B) Margin requirements
(C) Selective credit control
(D) Open market operations
Selective Credit Control is a qualitative method of credit control used by the central bank.
Under this method, banks are restricted from giving loans to selective industries or speculative businesses.
It helps in controlling inflation and avoiding misuse of credit in non-productive activities.
7. If the credit multiplier is 4, calculate the required reserve ratio.
(A) 40%
(B) 25%
(C) 20%
(D) 60%
8. Which of the following is the rate set by the Monetary Policy Framework Agreement (MPFA) and is the maximum tolerable rate that RBI should target to achieve price stability in India?
(A) Repo rate
(B) Inflation rate
(C) MSF rate
(D) Reverse repo rate
9. If the money supply increases by ₹ 750 crores, when there is an injection of ₹ 250 crores, through the open market operations by the central bank of the country. Calculate the money multiplier.
(A) 2.00
(B) 0.33
(C) 3.00
(D) 0.50
10. Calculate the currency with the public from the under-mentioned data.
Circulation of rupee coins ₹ 25,550
Circulation of small coins ₹ 750
Notes in circulation ₹ 35,50,000
Cash on hands with bank ₹ 66,500
(A) ₹ 36,42,800
(B) ₹ 36,41,300
(C) ₹ 35,91,700
(D) ₹ 35,09,800
Currency with the public = Notes in circulation + Coins in circulation − Cash with banks
= ₹ 35,50,000 + ₹ 25,550 + ₹ 750 − ₹ 66,500
= ₹ 35,76,300 − ₹ 66,500
= ₹ 35,09,800
Therefore, Currency with the public = ₹ 35,09,800
11. The demand curve slopes upwards in case of which of the following scenarios?
(A) Conspicuous necessities
(B) Normal goods
(C) Unitary elasticity
(D) Elasticity greater than one
12. If the price of a commodity reduces from ₹ 200 to ₹ 150, calculate the new quantity demanded assuming that price elasticity of demand is 2.5 and the original quantity demanded is 25 Kgs.
(A) 40.625 Kgs
(B) 42.125 Kgs
(C) 40.250 Kgs
(D) 41.625 Kgs
13. Calculate the arc elasticity if P1 = ₹ 15, P2 = ₹ 20, Q1 = 50 units, and Q2 = 75 units.
(A) 1.4
(B) 1.2
(C) 2.1
(D) 1.5
14. In which of the following conditions the demand curve touches the vertical axis and is horizontal at the price level?
(A) Elasticity being zero
(B) Elasticity > 1
(C) Elasticity < 1
(D) Elasticity is infinite
15. Choose the correct option from the following that is not a true property of an Indifference curve (IC):
(A) IC slopes upwards to the right
(B) IC is always convex to the origin
(C) IC will not touch either axes
(D) IC can never intersect each other
16. From the given options, select the method that measures national income through a summation of factor incomes paid out by all production units within the domestic territory of a country such as wages, salaries, rent, interest and profit, with the exception of transfer income.
(A) Value added method
(B) Expenditure method
(C) Disposal method
(D) Income method
17. Calculate the amount of subsidies, when the national income is ₹ 4,500 crore, Net National Product at Market Price is ₹ 4,800 crore and indirect taxes is ₹ 350 crore.
(A) ₹ 400 crore
(B) ₹ 650 crore
(C) ₹ 50 crore
(D) ₹ 100 crore
NNP at FC = NNP at MP − Indirect Taxes + Subsidies
₹ 4,500 = ₹ 4,800 − ₹ 350 + Subsidies
Subsidies = ₹ 4,500 − ₹ 4,450
= ₹ 50 crore
Therefore, subsidies amount to ₹ 50 crore.
18. Considering the Real GDP to be ₹ 4,500 crore and the Nominal GDP ₹ 6,750 crore calculate the GDP deflator.
(A) 150
(B) 66.67
(C) 120
(D) 80.33
19. Calculate the NNP at MP when NNP at FC is ₹ 15,000 crore, indirect taxes ₹ 450 crore, direct taxes ₹ 175 crore and subsidies are ₹ 250 crore.
(A) ₹ 15,025 crore
(B) ₹ 15,200 crore
(C) ₹ 15,275 crore
(D) ₹ 15,525 crore
NNP at MP is calculated by adding net indirect taxes to NNP at FC. Net indirect taxes mean indirect taxes minus subsidies.
NNP at MP = NNP at FC + Indirect Taxes − Subsidies
= ₹ 15,000 + ₹ 450 − ₹ 250
= ₹ 15,200 crore
Therefore, NNP at MP is ₹ 15,200 crore.
20. Calculate the equilibrium level of income, if the saving function is denoted by S = -20 + 0.25Y and autonomous investment (I) = 100 crores.
(A) 320 crores
(B) 160 crores
(C) 480 crores
(D) 240 crores
At equilibrium level of income, Savings = Investment.
Given:
S = −20 + 0.25Y
I = 100
−20 + 0.25Y = 100
0.25Y = 120
Y = 120 / 0.25
= 480 crores
Therefore, equilibrium income is ₹ 480 crores.
21. Which of the following features was not responsible for the launching of the radical economic reforms of 1991 in India?
(A) Severe strain on balance of payments
(B) Heavy internal and external debt
(C) High foreign exchange reserves
(D) Stringent conditions of IMF for availing further loans
22. What is the full form of ECLGS?
(A) Emergency Corporate Line Guarantee Scheme
(B) Emergency Credit Line Guarantee Scheme
(C) Emergency Credit Line Guarantee Subsidy
(D) Emergency Corporate Line Government Scheme
23. Which sector in India has the highest labour productivity?
(A) Primary
(B) Service
(C) Secondary
(D) Manufacturing
24. What is the maximum limit of Foreign Direct Investment (FDI) permitted under the automatic route in the marketing of food products and food products e-commerce in India?
(A) 49%
(B) 74%
(C) 100%
(D) 51%
25. Which of the following industries is not considered as a core industry of the ICI in the Indian economy?
(A) Natural gas
(B) Fertilizer
(C) Steel
(D) Information and communication
26. Which of the following scenarios does not give rise to foreign direct investment?
(A) Acquiring a controlling interest in an existing foreign company
(B) External commercial borrowing
(C) Joint venture with a foreign company
(D) Merger and acquisition
External Commercial Borrowing means borrowing funds from foreign lenders.
It creates a debt obligation and does not involve ownership or control in a foreign company.
FDI arises when there is investment with controlling interest, joint venture, merger or acquisition.
Therefore, External Commercial Borrowing does not give rise to FDI.
27. Calculate the real exchange rate, considering nominal exchange rate = 15, domestic Price Index = 250 and foreign Price Index = 200.
(A) 12.25
(B) 15.50
(C) 18.75
(D) 9.60
Real Exchange Rate = Nominal Exchange Rate × Domestic Price Index / Foreign Price Index
= 15 × 250 / 200
= 15 × 1.25
= 18.75
Therefore, the real exchange rate is 18.75.
28. The ‘Gulf Cooperation Council’ is an example of which regional trade agreement?
(A) A customs union
(B) Common market
(C) Economic and monetary union
(D) Regional preference trade agreement
29. Which of the following is not associated with exchange rate depreciation?
(A) Leads to output expansion
(B) Encourages economic activity
(C) Lowers the relative price of imports
(D) Improves balance of trade
30. Post-independence which philosophy in Indian economics is related to small scale and cottage industry and village republics?
(A) British philosophy
(B) Nehruvian philosophy
(C) East India Company philosophy
(D) Gandhian philosophy
Gandhian philosophy emphasized small scale industries, cottage industries and village republics.
It focused on self-reliant villages and decentralised economic development.
Mahatma Gandhi supported local production and employment through village industries.
Therefore, the correct answer is Gandhian philosophy.
31. The difference between market price and factor cost for an aggregate like GDP is:
(A) Net exports (excluding subsidies)
(B) Net indirect taxes (indirect taxes minus subsidies)
(C) Depreciation
(D) Net factor income from abroad
32. Unemployment, corporate profit and labour cost per unit of output are examples of which type of economic indicators?
(A) Coincident
(B) Lagging
(C) Concurrent
(D) Leading
33. Which phase of business cycle is characterised by a rapid rise in output prices leading to increased cost of living and greater pressure on fixed income earners?
(A) Contraction
(B) Prosperity
(C) Depression
(D) Downswing
34. Which of the following is not an internal cause of business cycle?
(A) Natural factors
(B) Psychological factors
(C) Variation in Government spending
(D) Macroeconomic policies
35. Which of the following is not an example of coincident economic indicator?
(A) Changes in stock prices
(B) Inflation
(C) Personal income
(D) Industrial production
36. Which type of non-technical measure is adopted in international trade in order to non-discriminatorily and temporarily limit imports of a product, if its domestic industry is injured or threatened with serious injury caused by a sudden rise in imports?
(A) Safeguard measures
(B) Embargo
(C) Government procurement policies
(D) Measures affecting competition
Safeguard measures are temporary restrictions imposed to protect domestic industries from sudden increases in imports.
These measures are applied in a non-discriminatory manner against imports from all countries.
They are used when domestic industries suffer or face the threat of serious injury due to rising imports.
Hence, safeguard measures are the correct answer.
37. Which form of tariff is a duty to bring the price of an imported commodity up to the level of the domestic support price of the commodity?
(A) Preferential tariff
(B) Bound tariff
(C) Applied tariff
(D) Variable tariff
38. Which of the following is not an assumption of the Absolute Advantage Theory in international trade?
(A) Trade between two countries
(B) Existence of transportation cost
(C) Labour being mobile within a country but immobile between countries
(D) Two country and two commodity framework
Absolute Advantage Theory assumes absence of transportation cost between countries.
The theory is based on two countries and two commodities with labour mobility within a country only.
If transportation cost exists, international trade becomes more expensive and the theory’s assumptions fail.
Hence, existence of transportation cost is not an assumption of the theory.
39. Which form of tariff is determined based on the specific contents of the imported goods?
(A) Specific tariff
(B) Ad valorem tariff
(C) Mixed tariff
(D) Technical tariff
40. Which of the following measures are usually aimed at restricting the quantity of goods that can be imported, irrespective of whether they originate from different sources or from one particular supplier?
(A) Government procurement policies
(B) Rules of origin
(C) Non automatic licencing and prohibitions
(D) Distribution restrictions
Non-automatic licensing and prohibitions are measures used to directly restrict the quantity of imports.
Imports are allowed only after obtaining permission or license from authorities.
These measures help protect domestic industries from excessive foreign competition.
Hence, non-automatic licensing and prohibitions are the correct answer.
Use the following information for Q 41 and Q 42:
|
No. of units |
Total Fixed Cost (₹) |
Total Variable Cost (₹) |
|
0 |
100 |
0 |
|
1 |
100 |
50 |
|
2 |
100 |
80 |
|
3 |
100 |
100 |
|
4 |
100 |
110 |
|
5 |
100 |
118 |
41. Calculate the marginal cost of the 5th unit of production.
(A) ₹ 8
(B) ₹ 23.60
(C) ₹ 43.60
(D) ₹ 118
42. Calculate the average variable cost when 3 units are produced.
(A) ₹ 36
(B) ₹ 33.33
(C) ₹ 66.67
(D) ₹ 100
43. Calculate the average total cost when 4 units are produced.
(A) ₹ 25
(B) ₹ 27.50
(C) ₹ 52.50
(D) ₹ 210
44. The condition for national income equilibrium can be expressed through which of the following expressions?
(A) C − I = C + S
(B) C + I = C + S
(C) C + I = C − S
(D) C + I = S
45. In economics, what distinguishes between ‘National’ and ‘Domestic’ with regards to determination of national income?
(A) Depreciation
(B) Indirect taxes
(C) Subsidies
(D) Net factor income from abroad
46. National income is calculated as the consolidation of the production of each industry after reducing the intermediate purchases from all other industries in which of the following method?
(A) Industrial origin method
(B) Income method
(C) Disposal approach
(D) Expenditure approach
47. Which of the following statements correctly explains the relationship between Marginal Propensity to Consume (MPC), Marginal Propensity to Save (MPS), and the value of the investment multiplier?
(A) Higher the MPC more will be the value of investment multiplier
(B) Higher the MPS more will be the value of investment multiplier
(C) Lower the MPC more will be the value of investment multiplier
(D) Lower the MPS less will be the value of investment multiplier
48. While determining national income, the income, which is not spent on recently produced consumption goods and services may be referred to as _____ out of the income stream.
(A) Inflation
(B) Depreciation
(C) Injection
(D) Leakage
49. The degree of adoption of banking habits by the public is measured by the:
(A) Credit–Deposit Ratio
(B) Reserve Deposit ratio
(C) Investment–Deposit ratio
(D) Currency Deposit Ratio
50. According to Keynes, the transactions demand for money is a direct proportional and positive function of the level of income. Which of the following equations correctly represents this relationship?
(A) LT = Y − k
(B) LT = kY
(C) LT = k + Y
(D) LT = Y / k
51. What is the notified consumer price index inflation set by the Government as the target for the period Aug 5, 2016 to Mar 31, 2021?
(A) 3%
(B) 4%
(C) 8%
(D) 5%
52. The assumption that there are two media for storing value - money and an interest-bearing alternative financial asset is a central feature of which approach to the demand for money?
(A) Liquidity Preference Theory
(B) Restatement of Quantity Theory
(C) Inventory Theoretic Approach
(D) Classical Approach
53. Which of the following features is not a component of the Modern Theory in international trade?
(A) International trade is only a distinct case of inter-regional trade
(B) It is based on labour theory of value
(C) It considers factor price differences as the principal cause of commodity price differences
(D) It considers the relative prices of the factors which impacts the comparative costs of the good
54. Which factor of production is that part of the wealth of an individual or community, which may be used for further production of wealth?
(A) Land
(B) Labour
(C) Capital
(D) Entrepreneur
55. To make the job contents interesting and challenging is a ______ objective of an organization.
(A) Social
(B) Organic
(C) National
(D) Human
56. According to the theory of production and cost in business economics, cost can be of the following types.
(A) Fixed and variable
(B) Fixed and semi variable
(C) Fixed, variable and semi variable
(D) Variable and semi variable
Choice 'A' is correct as--
According to the basic theory of production and cost in business economics, costs are primarily classified into fixed costs and variable costs.
Fixed costs remain unchanged irrespective of production level, whereas variable costs vary directly with output.
This is the fundamental and most commonly used classification of costs in production theory.
Therefore, fixed and variable costs is the correct answer.
57. The maximum amount of output that can be produced with given quantities of inputs, under a given state of technical knowledge, is termed as:
(A) Demand Function
(B) Production Function
(C) Supply Function
(D) Investment Function
Choice 'B' is correct as--
Production Function shows the maximum output that can be produced with given inputs and technology.
It explains the technical relationship between inputs and outputs in production.
The function helps firms determine efficient utilization of resources.
Hence, Production Function is the correct answer.
58. When a firm decides to change its product line, replace worn-out machinery, buy a new production facility, or acquire a new set of clients, it will have to incur _____.
(A) Sunk costs
(B) Incremental costs
(C) Opportunity costs
(D) Implicit costs
Choice 'B' is correct as--
59. There is an increase in the national income by ₹ 2,000 crores when there is an increase in investments by ₹ 1,600 crores. Calculate the marginal propensity to consume.
(A) 0.80
(B) 0.50
(C) 0.20
(D) 0.40
Use the following information for Q 60 and Q 61
|
Income (Y) in crore |
Consumption (C) in crore |
|
0 |
100 |
|
100 |
150 |
|
200 |
225 |
|
300 |
300 |
|
400 |
375 |
|
500 |
400 |
60. Calculate the marginal propensity to consume when the income changes from ₹ 300 crores to ₹ 400 crores.
(A) 1.00
(B) 0.50
(C) 0.75
(D) 0.25
61. Calculate the average propensity to save when the income is at ₹ 500 crores.
(A) 0.80
(B) 1.00
(C) 0.25
(D) 0.20
62. Which of the following pair of components is common to all sector-models of the economy?
(A) Government and household
(B) Rest of the world and Government
(C) Household and firms (Business)
(D) Firms (Business) and Government
63. Which of the following is a pan India electronic trading portal networking existing APMC mandis to create an integrated national market for agricultural commodities?
(A) E Amrit
(B) NDAP
(C) E NAM
(D) Niti Aayog
64. Interest rate liberalization and reduction in controls on banks in India by the Reserve Bank of India with regards to interest rates chargeable on loans and payable on deposits are closely associated with which of the following economic reforms:
(I) Fiscal reforms
(II) Monetary reforms
(III) Capital market reforms
(IV) Financial sector reforms
(A) Both (II) and (IV)
(B) Only (II)
(C) Only (I)
(D) Both (I) and (III)
65. Which measure of the primary sector is designed to provide income support to farmers in India?
(A) PM KISAN
(B) Paramparagat Kisan Vikas Yojana
(C) Fixation of minimum support price
(D) Pradhan Mantri Fasal Bima Yojana
66. Which of the following policies is focused at the empowerment of Micro, Small and Medium enterprises?
(A) FAME India
(B) PM Gati Shakti National Master Plan
(C) Industrial Corridor Development Programme
(D) Udyami Bharat
Choice 'D' is correct as--
Udyami Bharat is focused on empowering Micro, Small and Medium Enterprises (MSMEs).
The initiative promotes entrepreneurship, business growth and employment generation.
It supports MSMEs through various reforms, schemes and financial assistance.
Therefore, Udyami Bharat is the correct answer.
67. The factors which determine the type of market are ______.
(A) Size of the commodity, size of the population and extent of demand
(B) Size of production, nature of commodity and extent of supply
(C) Extent of demand, nature of commodity and size of the population
(D) Size of production, extent of demand and nature of commodity
68. From the information below, calculate the marginal revenue of the 4th unit.
|
Units |
Total Revenue (₹) |
Average Revenue (₹) |
|
1 |
100 |
100 |
|
2 |
180 |
90 |
|
3 |
240 |
80 |
|
4 |
300 |
75 |
|
5 |
330 |
66 |
(A) ₹ 75
(B) ₹ 80
(C) ₹ 66
(D) ₹ 60
69. Calculate the AR, when MR = 15 and price elasticity of demand = 1.5
(A) 30
(B) 60
(C) 45
(D) 22.5
70. Markets dealing with homogeneous products, which are perfect substitutes, are referred to as ______.
(A) Monopoly
(B) Oligopoly
(C) Monopolistic Competition
(D) Perfect competition
71. Which of the following is not a non-tax revenue under public finance?
(A) Interest receipts
(B) Receipts of union territories
(C) Dividend and profits from PSUs
(D) GST compensation cess
72. Which of the following institutions is not responsible for public debt management in India?
(A) SEBI
(B) RBI
(C) Department of Economic Affairs
(D) Ministry of Finance
73. The act of undisciplined students shouting and making nuisance during a lecture session in a class and disrupting teachers from delivering their lectures is an example of ______.
(A) Negative production externality
(B) Positive consumption externality
(C) Negative consumption externality
(D) Positive production externality
74. Calculate the fiscal deficit from the following data.
Revenue deficit ₹ 5,000 crores
Capital expenditure ₹ 45,000 crores
Capital receipts excluding borrowings ₹ 42,500 crores
Select the correct answer from options given below:
(A) ₹ 2,500 crores
(B) ₹ 12,500 crores
(C) ₹ 10,000 crores
(D) ₹ 7,500 crores
75. Which of the following is not a general characteristic of money?
(A) Perishable
(B) Effortlessly recognizable
(C) Possessing uniformity
(D) Easily transportable
76. Which of the following is not a set of complementary goods?
(A) Car & Petrol
(B) Electricity & Electrical Gadgets
(C) Bread & Jam
(D) Blazer & Jacket
77. For a household suppose the income elasticity of a commodity is arrived at 0.5; what can be assumed about the nature of the good?
(A) It is a luxurious good
(B) It is an inferior good
(C) It has a zero income elasticity
(D) It is a normal good and fulfils a necessity
78. Articles of prestige value used by rich people as status symbol for increasing their social prestige and/or for displaying wealth is known as:
(A) Speculative goods
(B) Conspicuous goods
(C) Giffen goods
(D) Inferior goods
79. Find the coefficient of price elasticity when the price of a product decreases from ₹ 10 to ₹ 6, and the quantity demanded rises from 10 units to 20 units.
(A) − 1.5
(B) 3.5
(C) 0.5
(D) − 2.5
80. When the price of sugar is ₹ 60 per kg, its demand is 10 Kgs. Subsequently, if the price of coffee declines from ₹ 500 per kg to ₹ 450 per Kg, the usage of sugar rises from 10 kgs to 15 kgs. Calculate the cross price elasticity.
(A) − 5
(B) 10
(C) − 2.5
(D) 2.5
81. Which from the following forms essential elements of a market?
(I) Buyers and sellers
(II) Product or service
(III) Knowledge of market conditions
(IV) Multiple prices for a product or service at a given time
(A) (I), (II) and (III)
(B) Both (I) and (III)
(C) (I), (II) and (IV)
(D) Both (III) and (IV)
82. Which of the following represents variable cost in the short run?
(A) Factory rent
(B) Wages for factory labour
(C) Accountant’s salary
(D) Factory insurance premium
83. The three stages of the law of variable proportion can be referred to as stages of ______.
(A) Increasing returns, optimum returns & nil returns
(B) Positive returns, diminishing returns & nil returns
(C) Increasing returns, diminishing returns & negative returns
(D) Negative returns, nil returns & positive returns
84. Complete the statement by selecting the correct option. A firm earns economic profit ______.
(A) If price = Minimum ATC
(B) If price > Minimum ATC
(C) If price < Minimum ATC
(D) If price < Average Variable Cost
85. Which of the following is not the responsibility of the Central Government but is associated with the State Government?
(A) Foreign affairs
(B) Foreign trade and exchange management
(C) Police protection
(D) Money and banking
86. During which phase of the business cycle is expansionary fiscal policy most appropriate?
(A) Stagflation
(B) Peak
(C) Expansion
(D) Contraction
87. Which of the following taxes does the State Government levy?
(A) Taxes on income
(B) Taxes on vehicles
(C) Customs duty
(D) Security transaction tax
88. Surcharge on certain duties and taxes for the purpose of the Union, are based on which of the following Articles of the Constitution?
(A) 271
(B) 269
(C) 293
(D) 268
89. Which of the following is not a criteria for distribution of central taxes amongst states for the period 2021 to 2026?
(A) Area
(B) Population (2011)
(C) Forest & ecology
(D) Adult literacy
90. Government spending that does not contribute to GDP because income is only redistributed from one group of people to another, without any direct contribution by the recipients is known as:
(A) Revenue expenditure
(B) Capital expenditure
(C) Transfer payments
(D) Public expenditure
91. Which of the following factors does not relate to the central economic problem?
(A) What to produce
(B) How to produce
(C) When to produce
(D) For whom to produce
92. Which of the following areas is related to macroeconomics?
(A) Consumer behaviour
(B) Factor pricing
(C) External value of currency
(D) Behaviour of firms
93. ‘Consumer Sovereignty’ is a feature related to which of the following economic system:
(A) Laissez Faire Economy
(B) Socialist Economy
(C) Mixed Economy
(D) Command Economy
94. Mixed economy in the real world comprise of ______.
(A) Only market
(B) Both market and government
(C) Both market and private individuals
(D) Only government
95. “The right to work is guaranteed, but the choice of occupation gets restricted.”
Select the correct set of options which is related with the above statement.
(A) Absence of consumer choice, Capitalist economy
(B) Absence of consumer choice, Socialist economy
(C) Right to private property, Capitalist economy
(D) Right to private property, Socialist economy
96. Select the correct option from the following which represents market classification based on the volume of business.
(A) Spot market
(B) Regulated market
(C) Retail market
(D) Local market
97. The industry and the firm are identical in ______ type of market situation.
(A) Monopoly
(B) Perfect competition
(C) Monopolistic competition
(D) Oligopsony
98. Government needs to take steps to regulate and prevent formation of certain market forms that are exploitative and create undesirable outcomes in the economy. The market form is:
(A) Perfect competition
(B) Monopoly
(C) Oligopolistic competition
(D) Monopolistic competition
99. Which of the following is not a characteristic of the Oligopoly market?
(A) Strategic Interdependence
(B) Group behaviour
(C) No importance to advertising
(D) Importance to selling costs
100. A fall in the levels of investment and employment and supply exceeding demand to a great extent is predominant in ______ phase of business cycle.
(A) Upswing
(B) Boom
(C) Expansion
(D) Recession
Ruchika Saboo
An All India Ranker (AIR 7 - CA Finals, AIR 43 - CA Inter), she is one of those teachers who just loved studying as a student. Aims to bring the same drive in her students.
Ruchika Ma'am has been a meritorious student throughout her student life. She is one of those who did not study from exam point of view or out of fear but because of the fact that she JUST LOVED STUDYING. When she says - love what you study, it has a deeper meaning.
She believes - "When you study, you get wise, you obtain knowledge. A knowledge that helps you in real life, in solving problems, finding opportunities. Implement what you study". She has a huge affinity for the Law Subject in particular and always encourages student to - "STUDY FROM THE BARE ACT, MAKE YOUR OWN INTERPRETATIONS". A rare practice that you will find in her video lectures as well.
She specializes in theory subjects - Law and Auditing.
Yashvardhan Saboo
A Story teller, passionate for simplifying complexities, techie. Perfectionist by heart, he is the founder of - Konceptca.
Yash Sir (As students call him fondly) is not a teacher per se. He is a story teller who specializes in simplifying things, connecting the dots and building a story behind everything he teaches. A firm believer of Real Teaching, according to him - "Real Teaching is not teaching standard methods but giving the power to students to develop his own methods".
He cleared his CA Finals in May 2011 and has been into teaching since. He started teaching CA, CS, 11th, 12th, B.Com, M.Com students in an offline mode until 2016 when Konceptca was launched. One of the pioneers in Online Education, he believes in providing a learning experience which is NEAT, SMOOTH and AFFORDABLE.
He specializes in practical subjects – Accounting, Costing, Taxation, Financial Management. With over 12 years of teaching experience (Online as well as Offline), he SURELY KNOWS IT ALL.
"Koncept perfectly justifies what it sounds, i.e, your concepts are meant to be cleared if you are a Konceptian. My experience with Koncept was amazing. The most striking experience that I went through was the the way Yash sir and Ruchika ma'am taught us in the lectures, making it very interesting and lucid. Another great feature of Koncept is that you get mentor calls which I think drives you to stay motivated and be disciplined. And of course it goes without saying that Yash sir has always been like a friend to me, giving me genuine guidance whenever I was in need. So once again I want to thank Koncept Education for all their efforts."
"Hello everyone, I am Kaushik Prajapati. I recently passed my CA Foundation Dec 23 exam in first attempt, That's possible only of proper guidance given by Yash sir and Ruchika ma'am. Koncept App provide me a video lectures, Notes and best thing about it is question bank. It contains PYP, RTP, MTP with soloution that help me easily score better marks in my exam. I really appericiate to Koncept team and I thankful to Koncept team."
"Hi. My name is Arka Das. I have cleared my CMA Foundation Exam. I cleared my 12th Board Exam from Bengali Medium and I had a very big language problem. Koncept Education has helped me a lot to overcome my language barrier. Their live sessions are really helpful. They have cleared my basic concepts. I think its a phenomenal app."
"I cleared my foundation examination in very first attempt with good marks in practical subject as well as theoretical subject this can be possible only because of koncept Education and the guidance that Yash sir has provide me, Thank you."
