66. The value of commodity expressed in terms of money is called?

A. Price

B. Utility

C. Value

D. Wealth

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Correct Answer is A

67. National Development Council was constituted on –

A. 2 August 1952

B. 6 August 1952

C. 8 August 1952

D. 12 August 1952

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Correct Answer is B

68. The most distinguishing feature of Oligopoly is?

A. Number of firms

B. Interdependence

C. Negligible influence on the price

D. Price leadership

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Correct Answer is B

69. An expenditure that has been made and cannot be recovered is called?

A. Variable Cost

B. Operational Cost

C. Sunk Cost

D. Opportunity Cost

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Correct Answer is A

70. An exceptional demand curve is one that moves?

A. Downward to the right

B. Upward to the right

C. Vertically

D. Horizontally

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Correct Answer is A

The curve that violates the law of demand is considered as the Exceptional Demand Curve

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