Top 80+ Solved Economics and Banking for Tourism Management MCQ Questions Answer
Q. IFCI is a __________________ bank
a. Commercial bank
b. Development bank
c. Foreign bank
d. Rural bank
Q. Cost theory explains the relationship between cost &_________________
a. Price
b. Output
c. Profit
d. Revenue
Q. Alternative cost is also known as a ____________________
a. Book cost
b. Actual cost
c. Opportunity cost
d. Full cost
Q. The contribution is the difference between total revenue and ___________________
a. Fixed cost
b. Variable cost
c. Actual cost
d. Full cost
Q. The difference between break even sales and actual sales is known as _________________
a. Margin of safety
b. Volume ratio
c. Profit
d. Contributing
Q. Break – even point is the point where________________________
a. TR>TC
b. TR=TC
c. TR<TC
d. None of these
Q. The shape of average cost curve is ______________
a. A – Shaped
b. C – Shaped
c. U – Shaped
d. L – Shaped
Q. In the long – run there is no _______________ cost
a. Variable Cost
b. Fixed Cost
c. Actual Cost
d. None of these
Q. When AC increases MC will___________________
a. increase
b. decrease
c. constant
d. None of these