Question : Which of the following statement is correct? Statement 1: At the time of price fixation a certain amount of profit is added to the cost of production. Statement 2: Purchasing power of customer should be taken into consideration.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.
Correct Answer: Both are true
Solution : Usually at the time of price fixation a certain amount of profit is added to the cost of production. If company's objective is to earn higher profit it may add higher amount of it. Purchasing power of customer is a factor while determining the price of a procduct. It should be taken into consideration while fixing a price of product or a services.
Hence, option A is correct.
Question : Which of the following statement is correct? Statement 1: Price is influenced by the marketing method used by the company. Statement 2: Purchasing power of customers should not be taken into consideration while fixing the price.
Question : Statement 1: Power shortages and blackouts hamper industrial productivity and economic growth.
Statement 2: Insufficient power generation capacity, transmission constraints, and distribution losses contribute to power shortages.
Question : Statement 1: The major challenges to power generation in India include insufficient fuel supply and transmission losses.
Statement 2: Power theft and distribution inefficiencies are significant contributors to transmission losses.
Question : Statement 1: Wind power is a clean and renewable source of energy that harnesses the power of wind to generate electricity.
Statement 2: Wind turbines convert the kinetic energy of the wind into electrical energy.
Question : Statement 1: Inadequate investment in the power sector has been a major challenge to ensuring reliable and uninterrupted power supply in India.
Statement 2: Insufficient financial resources and delayed project implementation are factors contributing to inadequate
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