Latest Business and Economics General Knowledge(GK) Questions and answers

1 .

Number of micro, small and medium enterprises (MSME) in 2016-17 was

A)

5.53 crore

B)

5.53 lakh

C)

2.53 lakh

D)

2.53 crore

Correct Answer : Option (B) - 5.53 lakh

2 .

A 'PAN' has initially a five-alphabet series like AFZPK 7190 K. Here P stands for

A)

firm

B)

hindu undivided family

C)

association of persons

D)

individual

Correct Answer : Option (D) - individual

3 .

The term 'revealed preference' was introduced in the book by

A)

Foundations of Economic Analysis

B)

Affluent Society

C)

Das Capital

D)

None of the above

Correct Answer : Option (A) - Foundations of Economic Analysis

4 .

Who is called the father of Economics ?

A)

P. Samuelson

B)

Joel Dean

C)

Adam Smith

D)

None of the above

Correct Answer : Option (C) - Adam Smith

5 .

Utility theory is not able to explain the reason for

A)

Giffen goods

B)

Normal goods

C)

Inferior goods

D)

Precious product

Correct Answer : Option (A) - Giffen goods

6 .

The concept of imperfect competition was developed by

A)

Mrs. Lillian Gilbreth

B)

Joan Robinson

C)

Marshall

D)

Jevons

Correct Answer : Option (B) - Joan Robinson

7 .

Which of the following is an alternative currency which has popularized the concept of smart contract?

A)

Dash

B)

Digital Note

C)

Bitcoin

D)

Ethereum

Correct Answer : Option (D) - Ethereum

8 .

Indian Rupee trade takes place with

A)

USA

B)

Russia

C)

China

D)

Japan

Correct Answer : Option (B) - Russia

9 .

'Division of Indians into rich, poor, intelligent and dull' is an instance of

A)

Cross division

B)

Physical division

C)

Metaphysical division

D)

Logical division

Correct Answer : Option (A) - Cross division

10 .

How is the annual budget defined in the Indian Constitution ?

A)

Profit and loss statement

B)

Statement of revenue and expenditture

C)

Annual financial statement

D)

None of the above

Correct Answer : Option (C) - Annual financial statement