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241.

The classical theory of interest is also called as:

A.	Real theory of interest	B.	Menetary theory of interest
C.	Lonable funds theory	D.	Liquidity preference theory

242.

The cost incurred by a firm in purchasing any factor of production is referred to as:

A.	Explicit cost	B.	Implicit cost
C.	Variable cost	D.	None of these

243.

The cost of various operations from land preparation to threshing of the crop is known as:

A.	Cost of cultivation	B.	Cost of farming
C.	Both (a) and (b)	D.	None of the above

244.

The cost which are not paid to others, are called:

A.	Explicit cost	B.	Implicit cost
C.	Both (a) and (b)	D.	None of these

245.

The cost which is varying with the output is called:

A.	Average variable cost	B.	Average fixed cost
C.	Variable cost	D.	Fixed cost

246.

The decisions about land resources and farming operations, questions like what to produce, how to produce and how to equip the farm, are known as:

A.	Administration problem decisions	B.	Production and organization problem decision
C.	Buying decision	D.	Selling decision

247.

The demand for common salt is:

A.	Perfectly elastic	B.	High inelastic
C.	Inelastic	D.	Both (b) and (c)

248.

The demand for wheat is:

A.	Perfectly elastic	B.	High inelastic
C.	Very elastic	D.	Less elastic

249.

The expenditure on ______ increases as income increases:

A.	Necessaries	B.	Comforts
C.	Luxuries	D.	All of these

250.

The required for a resource to be completely transformed into a product is referred to:

A.	Transformation period	B.	Production period
C.	Both (a) and (b)	D.	Planning period