Author name: Administrator

1982. As for the cost of production of an individual farmer, the rent paid by him

Enters into the price of his product
Does not enter into price of his product
Is unjustified
None of the above
✅ The correct answer is A.
As for the cost of production of an individual farmer, the rent paid by him enters into the price of his product. The classical political economists found value to be determined in production; since most of the cost of production could be reduced to labor, this approach was refined into the Labor Theory of Value.

1964. First step in constant gross margin percentage NRV method is to allocate joint to compute

Gross margin percentage
total production cost of each product
allocated joint costs
cost of split off point
✅ The correct answer is A.
First step in constant gross margin percentage NRV method is to allocate joint to compute Gross margin percentage. Gross margin is the difference between revenue and cost of goods sold divided by revenue. Gross margin is expressed as a percentage.

1979. Which one is not a physical threat?

Hacking
Storm
Phishing
None of the above
✅ The correct answer is A.
Hacking is not a physical threat. Hacking generally refers to unauthorized intrusion into a computer or a network.

1949. According to Keynes, interest is a payment for

Consumer’s preference
Producer’s preference
Liquidity preference
State Bank’s preference
✅ The correct answer is C.
According to Keynes, interest is a payment for Liquidity preference. The Liquidity Preference Theory says that the demand for money is not to borrow money but the desire to remain liquid. In other words, the interest rate is the ‘price’ for money.

1946. What best explains a shift in market supply curve to the right?

An advertising campaign is successful in promoting the good
A new technique makes it cheaper to produce the good
The government introduces a tax on the good
The price of raw materials increases
✅ The correct answer is B.
A new technique makes it cheaper to produce the good best explains a shift in market supply curve to the right. A rightward shift in the supply curve, say from a new production technology, leads to a lower equilibrium price and a greater quantity.

1947. Material control involves ________.

consumption of material
issue of material
purchase of material
purchase, storage and issue of material
✅ The correct answer is D.
Material control involves purchase, storage and issue of material. Materials control is the systematic control over the materials at all its stages procurement, storage and usage so as to help in maintaining regular and uninterrupted flow of the materials in the production pipeline.
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