UGC NET Management || Economics || 2020

The production function is based on which combination of the main characteristics of the inputs from the following:

I. Substitutability

II. Complementarity

III. Flexibility

IV. Specificity

Choose the correct answer from the code given below:

The inverse relationship between the variation in the price and the variation in the quantity demanded is not due to

Which one of the following demands states consumers are adequately buying all the products put into the marketplace?

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer using the code given below:

Assertion (A): Purchase decisions are not based on how customers perceive prices but on the marketer’s stated price.

Reason (R): Customers may have a lower price threshold, below which prices signal inferior or unacceptable quality and an upper price threshold where the product appears not worth the money.

Code:

Which one of the following is NOT the pre-requisite of price discrimination?