CUET-PG SERIES
Economics

Estimation And Costing

10 previous year questions.

Volume: 10 Ques
Yield: Medium

High-Yield Trend

10
2023

Chapter Questions
10 MCQs

01
PYQ 2023
hard
economics ID: cuet-pg-
The total cost of manufacturer is C=5000+1000q-500q²+ 2q3/3.The value of q for which MC = AVC will be :-
1
750/3
2
375
3
125
4
500
02
PYQ 2023
medium
economics ID: cuet-pg-
A firm produces chair, table and cupboards, each require three types of raw materials - timber, nails and varnish. The units of different raw materials required for producing one units of each product is as under: Product Timber (c.ft) Chair Table 0.7 1 Nails (dozen) 2 Varnish (liters) 1 4 1.5 Cupboard 3.2 16 2 If the firm produces 300 units of each product, find the quantity of each raw material. (in c.ft., dozen, liter) respectively would be:
1
Timber =3600, Nail = 1350, Varnish = 1470
2
Timber =1110, Nail 1950, Varnish = 3360
3
Timber =3360, Nail = 1950, Varnish = 1110
4
Timber =1470, Nail = 3600, Varnish = 1350
03
PYQ 2023
medium
economics ID: cuet-pg-
AB Ltd uses the following standard mix for production of 'A' goods. 50 kgs. of material X at standard price ₹.20, 20 kgs of material Y at standard price ₹ 40. The Actual mix was:
60 kgs of material X
10 kgs. of material Y
what will be material mix variance ?
1
₹100 (Unfavorable)
2
₹400 (Favorable)
3
₹200 (Favorable)
4
₹150 (Unfavorable)
04
PYQ 2023
medium
economics ID: cuet-pg-
Which type of costing technique is appropriate in the following situations:
When each work is Unique.
When each work is easily identifiable
when costs are assigned to, and Accumulated for each work.
1
Job costing
2
Process costing
3
Unit Costing
4
operating costing
05
PYQ 2023
medium
economics ID: cuet-pg-
The cost of second best alternative is known as:
1
Relevant cost
2
opportunity cost
3
Incremental cost
4
Responsibility cost
06
PYQ 2023
medium
economics ID: cuet-pg-
The technique in which only variable costs are taken into Account for the purpose of product costing, inventory valuation and other allied important management decisions is known as :
1
Absorption costing
2
Marginal costing
3
Standard costing
4
Job costing
07
PYQ 2023
medium
economics ID: cuet-pg-
If and are the opportunity costs of producing X in terms of Y in countries A and B, and is the international price ratio of X to Y. Both the Py countries will go for complete specialization when
1
2
3
4
08
PYQ 2023
medium
economics ID: cuet-pg-
Suppose z = f(x, y) is homogeneous of degree k. Which of the following statements is true?
1
is homogeneous of degree (k-2)
2
is homogeneous of degree (k-1)
3
is homogeneous of degree (k-2)
4
is homogeneous of degree (k-1)
09
PYQ 2023
medium
economics ID: cuet-pg-
Identify the odd one out from the following, with regards to 5C's of event management:
1
Costing
2
Canvassing
3
Coping
4
Carrying out
10
PYQ 2023
medium
economics ID: cuet-pg-
What does CPA stands for, in relation to consumerism?
1
Consumer Proposition Act
2
Consumer Preservation Act
3
Consumer Protection Act
4
Consumer Productivity Act