SCDL Sample Solved Paper Managerial Economics-I

Note:
MCSR: Multiple Choice Single Response
MCMR: Multiple Choice Multiple Response
T/F: True or False


MCSR
Q) A firm earns profit when firm’s average revenue is equal to
A) Managerial Cost

MCMR
Q) Individual demand schedule
A) Is in tabular form, It shows the price of goods, It shows the quantities of a commodity purchased.

MCSR
Q) Costs which increase because of expansion of a firm are called as
A) incremental costs

Match the following
A) Interview and survey method
collects the information in various ways
Collective-Opinion method
certain information
Sample-Survey method
few consumer are contacted
Composite management opinion
Opinion of experienced person.

MCSR
Q) Aggregate expenditure in two sector economy equal to (no government expenditure)
A) C+I

MCMR
Q) Managerial feasibility includes availability of managers for implementing and running the project
A) Smoothly, professionally

MCSR
Q) Every product has a
A) Life cycle

MCSR
Q) A statement of supply without reference to price and ____________conveys no economic sense .
A) time

MCMR
Q) It is necessary to make clear distinction between
A) short run , long run , very long run.

T/F
Q) The simplest way of explaining the point method is to consider a linear demand curve.
A) True.

MCSR
Q) Opportunity cost is
A) Implicit cost

MCMR
Q) The type of costs are
A) accounting cost , economic cost, opportunity cost

T/F
Q) There is transport cost exists in perfect competition.
A) False

T/F
Q) Concept of effective demand constitutes aggregate expenditure in the economy.
A) True

T/F
Q) Demand is backed by necessary purchase power.
A) True

MCSR
Q) A rice that fluctuates as per the change in market demand is
A) Cyclical price

MCSR
Q) An economic problem is such that it is faced by a simple people as well as a _______.
A) movie star

MCSR
Q) Government intervention according to Kaynes is essential to ensure _______.
A) full employment

MCMR
Q) Government intervention can take form of
A) Government expenditure, subsides, price mechanism

MCSR
Q) It is necessary to collect information regarding the expected expenditure of the consumer in order to
A) Anticipate the expected sales

MCSR
Q) The consumer is wrongly biased against
A) quality of commodity

MCMR
Q) Perfect competition faces demand curve that is
A) Parallel to X-axis, equal to MR Curve, perfectly elastic

MCSR
Q) Aggregate supply function is relatively stable in
A) long run

Takes On Life

The two extremes of human behaviour are complacent and the ego-driven, restless, overstrivers. The enlightened ones are beyond these two extremes.
Three people are fishing in a pond. The first one is ego-driven, self-centered mentality. The second is complacent type and the third on is an enlightened seer.
The first fisherman raves and rants when he dose not catch any fish. He blames his equipment , his wife, and his stars. He sits there with turmoil in his mind. He drives satisfaction from the fact that no one else have caught any fish either. If also he catches any fish , he compares with what others have caught and is unhappy if his catch is less or if his fishes are smaller, and if his catch more, he crows with satisfaction. In either cases, he strives to get more next time.
The complacent fisherman who has not caught any fish, spends the day reading and drinking. Finally, he sighs, withdraws his line, collects his belongings and goes home, thinking that is what his destiny is and he cannot help it if he dose not catch any fish. He will not try any better the next time, as he has convinced himself that destiny is not in his hands.
The enlightened fisherman lives every moment he is by the pond in the state of super consciousness. He feels the wind on his face not only in his point of view but also of the wind. He sees himself as a part of boat, he finds himself revelling in every wave on the pond. He flies with every bird. And what of the fish? He is there on the pond. Knowing this fish will come to him like iron to a magnet. Because of that, his line is conscious will, not coarse thread. You can substitute money, followers,knowledge and whatever else you wish, for fish.
When the fishermen go home they feel differently. The ego-driven fisherman will be in a foul mood if he has not caught any or fewer fish, throwing his bag on the floor, kicking the chair and making his and everyone else's life miserable. If he has caught more fish than the others, he will boast about this to everyone he meets.
The second one will go home and sleep complacently, and the third one is at home whenever he is and will continue to enjoy the bliss of being equally intensely everywhere.
Life is too short to feel jealous, angry and miserable be an enlightened one and enjoy every moment as and when it come to you with conscious will...Life will be wonderful.

Apple, Pear and Blueberry Puree For Babies

Ingrediants:
1 small, sweet apple, peeled, cored and diced
1/2 ripe pear, peeled, cored and diced
1/2 cup fresh blueberries
Method:
Remove any stems from the blueberries, then place all the ingredients in a small saucepan. Just cover with water and simmer gently for approximately 5 mins, until the fruits are tender. Drain (reserving the cooking water), then transfer the ingredients to a blender and puree until smooth. Use the reserved cooking liquid to thin the puree, if necessary.