One of the most outstanding disadvantages of cooperative societies as business organization is that
True spirit of co-operation is marred by delegated authority
Members show much interest
It is poorly financed
Membership interest is centred on sharing of essential commodities
Correct answer is C
No explanation has been provided for this answer.
A possible factor which limits the extent of growth of a firm is the
Existence of a monoploy
Bureaucratic delays in decision-making
Use of by-products
Unwillingness to share ownership and control
Correct answer is D
No explanation has been provided for this answer.
The ordinary partner in a partnership
Takes no active in the management of the business
Has limited liability in case of business failure
Has unlimited liability in case of business failure
Cannot be sued personally on matters relating to the business
Correct answer is C
No explanation has been provided for this answer.
In a perfectly competitive market, the firm is in long-run equilibrium at the output where
Marginal cost is minimum
Average cost is minimum
Total cost is minimum
Marginal cost revenue is maximum
Correct answer is B
No explanation has been provided for this answer.
Monopolist charges a lower price than the perfect competitior
Perfect competitior charges a lower price and produces a large output than the monopolist
Perfect competitior produces a smaller output than the monopolist
Monopolist charges a lower price and produces a larger output than the perfect competitor
Correct answer is B
No explanation has been provided for this answer.