Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Introduction

Question:

Producers try to make _______ profit out of producing their goods keeping their costs as _____ as possible and selling at a price as _______ as they could get in the markets.
Which of the following options suits best in the above blanks?

Options:

Maximum, low, high

Maximum, high, low

High, low, minimum

Minimum, low, high

Correct Answer:

Maximum, low, high

Explanation:

The correct answer is option 1:  Maximum, low, high

Producers try to make maximum profit out of producing their goods keeping their costs as low as possible and selling at a price as high as they could get in the markets.

Here's the breakdown:

  • Producers try to make maximum profit out of producing their goods.
  • They do this by keeping their costs as low as possible.
  • They achieve this by selling at a price as high as they could get in the markets.