1. Operating Surplus arises in the- (4)
- 1. Government Sector
- 2. Production for self-consumption
- 3. Subsistence farming
- 4. Enterprise Sector
2. Cost of production of the producer is given by- (4)
- 1. Sum of wages paid to labourers
- 2. Sum of wages and interest paid on capital
- 3. Sum of wages, interest rent and supernormal profit
- 4. Sum of wages, interest, rent and normal profit
3. Production refers to- (2)
- 1. Destruction of utility
- 2. Creation of utilities
- 3. Exchange value
- 4. Use of a product
4. Selling cost means- (3)
- 1. Cost of selling a product
- 2. Cost incurred in transportation
- 3. Cost Incurred in advertisement
- 4. Cost Incurred on factors of production
5. Prime cost is equal to- (3)
- 1. Variable cost plus administrative cost
- 2. Variable cost plus fixed cost
- 3. Variable cost only
- 4. Fixed cost only
