It is very important to regularly practice with the previous year question papers in order to excel in the entrance examinationUGC conducts nationwide National Eligibility Test (UGC NET/ JRF) twice a year for award of Junior Research Fellowship and Eligibility for Lectureship.
1. The term Opportunity Cost refers to
(A) Variable Cost
(B) Short-run cost
(C) The cost forgone in favour of production of another product
(D) Cost related to an optimum level of production
2. If two commodities are complementary, then a rise in the price of one commodity will induce
(A) A rise in the price of the other commodity
(B) An upward shift of demand curve
(C) No shift in demand for the other commodity
(D) A backward shift in demand for the other commodity
3. What is the characteristic of a purely competitive market ?
(A) Large number of buyers and sellers
(B) A few sellers
(C) A few buyers
(D) Abnormal profit
Click Here to find Management 2 (December 2012) complete question paper
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