The trough of a business cycle occurs when          hits its lowest point.

          The lowest point in the business cycle is referred to as the

            A leading indicator is

The four phases of the business cycle are

Leading economic indicators

When aggregate economic activity is declining, the economy is said to be in

The different phases of a business cycle

Which of the following is not an example of coincident indicator?

According to _________ trade cycle occurs due to onset of innovations.

According to Keynes, Fluctuations activity are due to fluctuations in

            Marginal Revenue is equal to:

Suppose that a sole proprietorship is earning total revenues of Rs. 1,00,000 and is incurring explicit costs of Rs. 75,000. If the owner could work for another company for Rs. 30,000 a year, we would conclude that :

      Which of the following is not an essential condition of pure competition?

 With a given supply curve, a decrease in demand causes

 It is assumed in economic theory that

Assume that consumers’ incomes and the number of sellers in the market for good A both decrease. Based upon this information, we can conclude, with certainty, that the equilibrium:

    Which of the following is not a characteristic of monopolistic competition?

Monopoly may arise in a product market because

 Oligopolistic industries are characterized by:

          If firms in the toothpaste industry have the following market shares, which market structure would best describe the industry?

 When __ _ __ _ _ ___ _ __ _, we know that the firms are earning just normal profits.

  When __   __,    we    know    that    the    firms under perfect competition must be producing at the minimum point of the average cost curve and so there will be productive efficiency.

          Which of the following is not a characteristic of a monopolistically competitive market?

        In a very short period market:

        Time element was conceived by