Under Inductive method logic proceeds from:

__________ analyses causes and effect relationship between variables in an objective and scientific manner.

Business Economics is generally in nature.

In case of inferior goods, with rise of income of consumes, demand of goodwill?

In the case of a Giffen good, the demand curve will be:

In case ________, there is an inverse relationship between income and demand for a product.

An example of a good that exhibit direct price-demand relationship is ________.

In Economics, when demand for a commodity increases with a fall in its price it is known as:

If the marginal product of labour is below the average product of labour, it must be true that:

The average product of labour is maximized when marginal product of labour:

The marginal, average, and total product curves encountered by the firm producing in the short run exhibit all of the following relationships except:

If the marginal product of labour is below the average product of labour. It must be true that:

In the production of wheat, all of the following are variable factors that are used by the farmer except:

Assume that consumers’ incomes and the number of sellers in the market for good A both decrease. Based upon this information, we can conclude, with certainty, that the equilibrium:

It is assumed in economic theory that:

Suppose that a sole proprietorship is earning total revenues of 11,00,000 and is incurring explicit costs of ₹ 75,000 If the owner could work for another company for ₹ 30,000 a year, we would conclude that:

Shift of the Demand curve to the means increase in demand.

If demand does not change but there is an increase in supply due to improved technology, then :

The trough of a business cycle occurs when _________ hits its lowest point.

The lowest point in the business cycle is referred to as the _________.