'Nav-Malthusian theory related to - lack of resources The expenditure incurred by an entrepreneur on advertising and public relations is part of its expenditure - Intermediate consumption On what methodology is the planned economy in India - socialist system What do we know when considering Giffen and substandard goods - Giffen goods must also be cheap. National income is made up of - by any production activity Estimates of national income in India are prepared - by the Central Statistical Organization Multinational firms - are a company practiced in many countries. What are the advantages of a firm - saving on production costs Real GDP is measured at constant prices. Demand for substandard goods falls when income increases. Average variable cost curve ...... are shaped by – U In which rule it has been said that as incomes increase with constant taste and preferences, the proportion of income spent on food items decreases - Engel rule Indirect taxes are by - Increasing order Tax is said to be regressive when its weight is much higher on the poor than the rich. What is the formal method of entering into trade agreements with groups of countries - trading blocks Those goods which are either fixed for consumption or investment, what are called - cost Percentage of current financial deficit in GDP is - Which cost is related to minimum cost - variable Toothpaste products are sold under - monopolistic competition When there is only one buyer and one seller of a commodity, then it is called ......... status - bipartisan monopoly. In which market structure the demand curve of the market is reflected by the demand curve of the firm - Monopoly What are the number of sellers in a monopoly market structure – One Competitive position of a company can be improved by .......... Understanding and meeting customer requirement Basic cost is equal to - the sum of administrative cost in variable cost Increasing per capita income would indicate a better welfare if it is accompanied by - a changed income distribution in favor of the poor. Capital formation in an economy depends - on the total savings. The best example of a capital-intensive industry in India is - the steel industry. Removal of barriers or restrictions imposed by the government is called – liberalization In the capitalist economy, the pricing is done by - demand and supply According to communism, who are the main enemies of society - personal property South-South Dialogues are related to - Cooperatives in developing countries What is called the tree accumulation of records in a data set - hierarchical model India and the United States have decided to finalize the agreement related to - Trade and Investment in end goods In which period of extreme recession came - the year 1929-34 Who can fix India's balance of payments - currency devaluation, strong export promotion, import substitution Devaluation of currency results in an increase in exports and improvement in the balance of payments. Which tax is collected by the Central Government - Income tax, customs duty, production duty Whose losses are financed by net capital flows received from abroad, thus capital account is more - current account Fiscal policy is concerned with - the income and expenditure of the government Taxation is a tool - fiscal policy Which method is used to determine the national income of a country - income system, production system, input system Who is not included while estimating national income by income method – Pension What is meant by personal disposable income - Personal Income - Direct Tax Economic progress of the country is determined on the basis of - an increase in per capita income of the country Real-life standard of an individual can be estimated by per capita income. Economic growth is related to - Continuous growth of real income per capita in an economy for some period When income increases, in what proportion does consumption also increase - in low proportion What is defined as the average rate of consumption - total consumption share total income When income increases in the short term, the average trend of consumption generally declines. The increase in demand for a common commodity is accompanied by - an increase in the income of the consumer