Indian Economy Questions

Stagflation is defined as

When there is only one buyer and one seller of product, it is called _____ situation.

The GST (Goods and Services Tax), recently passed by Government will be levied on which of the following products?

This tax is entirely borne by the entity it is levied upon and cannot be passed.

The innovation theory of profit was proposed by

Calculate the economic profit for a firm if its total revenues are Rs 180 crores, explicit costs are Rs 95 crores, and implicit costs are Rs 25 crores.

Lorenz curve shows

At the equilibrium price