Question

1. Answer all the questions :-
a) Market supply curve is the vertical summation of individual
supply curves. T/F.
b) The policy of non-intervention of government in economic
activities is known as
policy
c) What is the complementary form of oligopoly known as?
d) The first stage of dialectical materialism is slavery. T/F
e) Capital is not reproducible. T/F.
f) If environment is polluted due to steel production, then the
social cost of steel production will be its private cost.
g) Principles of Economics is written by
h) Fill up : AVC =
1) Mother cooks food for her children. What type of activity is
it?
j) The price at which demand is equal to supply is known as
price.​​

Answer 1

Answer:

a) Market supply curve is the vertical summation of individual supply curves. TRUE

b) The policy of non-intervention of government in economic activities is known as Laissez-faire

c) What is the complementary form of oligopoly known as

d) The first stage of dialectical materialism is slavery.

e) Capital is not reproducible.

f) If environment is polluted due to steel production, then the social cost of steel production will be its private cost TRUE

g) Principles of Economics is written by Alfred Marshall

h) Fill up : AVC = Average variable cost is calculated by dividing total variable cost VC by output Q.

Average variable cost is calculated by dividing total variable cost VC by output Q.AVC = VC /Q

1) Mother cooks food for her children. What type of activity is it Non-economic activity

j) The price at which demand is equal to supply is known as price. Market clearing price

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