Practice Some Economics and Commercial Knowledge Questions for CA Foundation (2024)

[{"selector":"#anim-6c111f1b-049c-4c0a-be28-0e4ea64b9470","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f66d5519-82ec-47f6-9b04-9f3f25b4298c","keyframes":{"transform":["translate3d(0px, 93.07049%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Q1. Monopolist Charges different price for his commodity in discriminating monopoly implies:

[{"selector":"#anim-de591d89-a400-4362-a4b8-3a7517b8068a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dbc4b76b-ff53-4a15-a698-043d1dc375a5","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9b775860-62dc-4eac-8e6d-e0546de6accd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-634ec4af-3e2b-4b2a-8dfc-0b1299c07676","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ff9ee74-84c3-4c29-bea5-0b9a630e7c08","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a810bf70-369c-4103-bf98-b68a2623bdca","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q2. The Pure monopolist in the long run can make pure profit due to :

[{"selector":"#anim-f2e74250-903b-4937-8bb7-fdbd5dd0c379","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-501bd956-21ee-41b2-b7ca-c17fe3638fcd","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0bac39cd-80f2-43b0-8166-0de21f501626","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bbfce073-7f33-455d-a008-7a7199331bf6","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8707609d-3844-403e-89e4-ef0d24b1512a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-72252fe1-c926-4adc-8d23-57a4933b9272","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q3. Which of the following is the exception to the law of demand:

[{"selector":"#anim-c082a2d1-61ae-4358-8de7-92a5567bf292","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c1eb2c4a-66bf-4d51-8087-f5c58f6fce8a","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-169f57e0-02e0-4340-bbdb-033b1119a614","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fc2da51c-02e5-4d52-92d3-d3643b04f032","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cc9a42dd-cbfd-42c6-a980-01880638b33e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8994780e-e529-488a-a9ac-02a2e80abe8f","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q4. Minimum assured price to the farmers to purchase their output by the government is called:

[{"selector":"#anim-2cb43280-f60b-468f-9f95-b665bf021b1e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5c363735-e834-41a5-ba88-f2144fd725bd","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f9dfa861-000c-4eb8-9194-b052b13ffd2e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-666d0eb3-673a-47cc-a699-752d8e7433c0","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0cf7abfb-566e-45f9-b138-878bd205ac9e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-82a603e0-48d5-4aed-a629-c1caaec826a8","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q5. Economic indicator required to predict the turning point of business cycle is :

[{"selector":"#anim-f3c08917-5e85-4b4a-8d47-41fb64e5c460","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ae41a056-f85b-4fc4-8045-f4d0d2b78232","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-18e73029-f72f-4587-a80b-12123809e4b0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1c6da9b6-9921-4434-9a3d-f5247178d1da","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-57913d9d-0cb7-4778-9dbd-ad9aba576fcc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d9985503-7d81-4721-b95a-6d09f55f65e3","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q6. Elasticity of supply to the degree of responsiveness of supply of a good to changes in its:

[{"selector":"#anim-dc9b94ac-de54-4e82-93dc-22af2095bba3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-589d3dad-f878-441c-9b1b-6594849d9f6e","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ef2ade8c-d1fb-49ff-899d-3dc4b6817155","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-50994149-e3c8-4321-af21-4aaaeb4e89bd","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f83a8634-d4ac-44aa-a314-af33adc02e72","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-86d0b021-9435-4844-9401-1d73514030d8","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q7. Monopsony market and monopoly market when combined is called:

[{"selector":"#anim-0b0072be-b265-4101-bb0c-d69803df8fee","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a86233d5-e500-41dc-80e7-84dcb111ff7b","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2c83a9df-de2f-4e06-a4f8-e8a555975e43","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1b42165b-81c1-4d11-809a-0ba2ecb58509","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04912ffd-167d-4244-8498-aaf367cca9fd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-57abc496-d641-48a4-8730-20a3806a0de7","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Q8. Which of the following is not a characteristic of monopolistic competition?

[{"selector":"#anim-725ba0c6-e280-4305-81e5-5c34a47aef8c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f1bf5419-698d-46d2-baea-03d42a946bf6","keyframes":{"transform":["translate3d(-104.53333%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a089063b-ed91-462d-9670-789e8b0b5595","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4680ff50-3376-4461-a494-fe7d1cdfaf1d","keyframes":{"transform":["translate3d(-104.42708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53a69a40-12a8-4fdd-98f6-dd2aca64fe0a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c8f267ce-1dc3-4634-9723-37d8d5d0a80e","keyframes":{"transform":["translate3d(-108.77193%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

Answer key 1. Ans. D 2. Ans. C 3. Ans. D 4. Ans. C 5. Ans. D 6. Ans. B 7. Ans. D 8. Ans. C

[{"selector":"#anim-a180001a-190c-4141-a15d-bf67703a56bd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f2bd3444-0a23-4a05-bb5d-64ae8bc63815","keyframes":{"transform":["translate3d(-110.6383%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Green Leaf Banner Green Leaf Banner Learn more

More Stories.

[{"selector":"#anim-5f4820c5-9977-4849-b9b1-91b51c7f2c70","keyframes":{"opacity":[0,1]},"delay":700,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1053ebd2-cada-4283-bf90-767092863fc7","keyframes":{"transform":["translate3d(0px, -132.7572%, 0)","translate3d(0px, 0px, 0)"]},"delay":700,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-55a9ce24-83df-4cd1-aec2-7ca2567e0583","keyframes":{"opacity":[0,1]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f08cf1cc-36c2-40a3-9a20-9a7dafa55b8f","keyframes":{"transform":["translate3d(0px, -266.26984%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3840c71b-6725-4147-8778-a016a5cf6bc8","keyframes":{"opacity":[0,1]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b3c095f3-2d3c-4393-866f-21fb45cb5a64","keyframes":{"transform":["translate3d(0px, -261.72837%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0df9215-c729-47c6-84dd-6914b4558404","keyframes":{"opacity":[0,1]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4e57a3e1-6a7d-4983-b88e-df6959203967","keyframes":{"transform":["translate3d(0px, -667.05658%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-239a6eef-4723-4fa1-97fe-ca6a2fa0be76","keyframes":{"opacity":[0,1]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5fd00922-9589-4d8e-aef4-5454dbb7bc87","keyframes":{"transform":["translate3d(0px, -628.99109%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fcb064e9-28ef-4d58-aa23-8e7a9e958ed4","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9bb91c5b-8250-4ee9-a34b-893b65b94f7c","keyframes":{"transform":["translate3d(0px, -386.80554%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-db62d05f-fd7d-4362-afb3-b1cba244e508","keyframes":{"opacity":[0,1]},"delay":405,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6560e60a-d9e1-4a4d-aacf-f6dcabd26712","keyframes":{"transform":["translate3d(0px, -507.34123%, 0)","translate3d(0px, 0px, 0)"]},"delay":405,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2996a1b7-b436-4681-9f27-d55e0b0d62df","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1d078cba-f316-4e05-9f41-3dda1faa4382","keyframes":{"transform":["rotate(-93deg) translate3d(40.82278%, 0px, 0) rotate(93deg)","rotate(-93deg) translate3d(0px, 0px, 0) rotate(93deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] What is the difference between CA vs CPA? - Mittal Commerce Classes Know about the Journey of Abhijeet Shivani Agarwal's Journey from CA to Champion, Green Flower Learn more

Practice Some Economics and Commercial Knowledge Questions for CA Foundation (2024)

Q1. Monopolist Charges different price for his commodity in discriminating monopoly implies:

(a) At different places (b) For different uses (c) From different group of consumers (d) Any of the above Checkout Last Page for Answer

Select Your Answer:

Q2. The Pure monopolist in the long run can make pure profit due to :

(a) High Selling Price (b) Advertising (c) Low LAC Cost (d) Blocked entry Checkout Last Page for Answer

Select Your Answer:

Q3. Which of the following is the exception to the law of demand:

(a) Speculative goods (b) Conspicuous necessities (c) Future expectation about prices (d) Income effect Checkout Last Page for Answer

Select Your Answer:

Q4. Minimum assured price to the farmers to purchase their output by the government is called:

(a) Market Price (b) Equilibrium Price (c) Support Price (d) Ceiling Price Checkout Last Page for Answer

Select Your Answer:

Q5. Economic indicator required to predict the turning point of business cycle is :

(a) Leading indicator (b) Lagging indicator (c) Coincident (d) All of the above Checkout Last Page for Answer

Select Your Answer:

Q6. Elasticity of supply to the degree of responsiveness of supply of a good to changes in its:

(a) Demand (b) Price (c) Cost of production (d) State of technology Checkout Last Page for Answer

Select Your Answer:

Q7. Monopsony market and monopoly market when combined is called:

(a) Oligopoly market (b) Monopolistic market (c) Duopoly market (d) Bilateral Money Market Checkout Last Page for Answer

Select Your Answer:

Q8. Which of the following is not a characteristic of monopolistic competition?

(a) Ease of entry into the industry (b) Product differentiation (c) A homogeneous Product (d) A relatively large number of sellers Checkout Last Page for Answer

Select Your Answer:

Answer key 1. Ans. D 2. Ans. C 3. Ans. D 4. Ans. C 5. Ans. D 6. Ans. B 7. Ans. D 8. Ans. C

More Stories.