art mcqs

Product which requires low amount of resources, but incur high per unit cost is classified as

by
A) expected under cost
B) expected over cost
C) product under costing
D) product over costing
✅ ANSWER: D
Product which requires low amount of resources, but incur high per unit cost is classified as product over costing. Product costing is also known as traditional costing. This method seeks to allocate all costs down to individual units of finished product.

What are the reason(s) for increase in health insurance in India?

by
A) Health consciousness
B) Increased longevity
C) Increase in income
D) All of the above
✅ ANSWER: D
Health insurance provides people with a much needed financial backup at times of medical emergencies. Health risks and uncertainties are a part of life. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. Increased income, health consciousness, price liberalization and the introduction of private healthcare financing is bringing the change.

Supply curve is

by
A) Vertical in long run
B) Flatter in long run
C) Same in long and short run
D) Horizontal in both short and long run
✅ ANSWER: B
Supply curve is Flatter in long run. All firms have identical cost conditions. Hence, in the case of a constant cost industry, the long-run supply curve LSC is a horizontal straight line (i.e., perfectly elastic) at the price OP, which is equal to the minimum average cost. This means that whatever the output supplied, the price would remain the same.

Private Key cryptography is also known as __________ cryptography.

by
A) Public key
B) Symmetric
C) Asymmetric
D) None
✅ ANSWER: B
Private Key cryptography is also known as Symmetric cryptography. A private key is a tiny bit of code that is paired with a public key to set off algorithms for text encryption and decryption. It is created as part of public key cryptography during asymmetric-key encryption and used to decrypt and transform a message to a readable format.