In a capitalist economy the allocation of resources is performed by:

The Concept of socialist economy was propounded by __________.

Socialist economy is __________.

Exploitation and inequality are minimal under:

________ refer to those costs which are already incurred once and for all and cannot be recovered.

Which one of the following is an example of Sunk Cost?

Which of the following in incurred first?

________ Cost refers to the cost incurred in the past on the acquisition of a productive asset.

What is incorrect about business Cycle?

The disturbances in one or more Sectors _________ other Sectors.

A firm encounters its “shutdown point” when:

When __________, there will be a locative efficiency meaning thereby that the cost of the last unit is exactly equal to the price consumers are willing to pay for it and so that the right goods are being sold to the right people at the right price.

A firm will close down in the short period, if its AR is less than:

A competitive firm in the short run incur losses. The firm continues production, if:

If under perfect competition, the price line lies below the average cost curve, the firm would:

In the long run, under perfect competition, there will be optimum allocation of resources and __________.

A firm will shut down in the short run if :

A firm encounters “shut down” point when __________.

In a competitive market, if price exceeds Average Variable Cost (AVC) but remains less than Average Cost (AC) at the equilibrium, the firm is:

A competitive firm in the short rum insure losses. The firm continues production, if: