Business and Economics - General Knowledge Questions

1 .

Who is called the father of Economics ?

A)

P. Samuelson

B)

Joel Dean

C)

Adam Smith

D)

None of the above

Correct Answer : Adam Smith

2 .

Utility theory is not able to explain the reason for

A)

Giffen goods

B)

Normal goods

C)

Inferior goods

D)

Precious product

Correct Answer : Giffen goods

3 .

The concept of imperfect competition was developed by

A)

Mrs. Lillian Gilbreth

B)

Joan Robinson

C)

Marshall

D)

Jevons

Correct Answer : Joan Robinson

4 .

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 : Ethereum

5 .

Indian Rupee trade takes place with

A)

USA

B)

Russia

C)

China

D)

Japan

Correct Answer : Russia

6 .

'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 : Cross division

7 .

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 : Annual financial statement

8 .

Ordinal measure of utility is required in

A)

Utility

B)

Indifference curve

C)

Revealed preference

D)

None of the above

Correct Answer : Indifference curve

9 .

The job of a finance manager is confined to

A)

Management of cash

B)

Raising of funds

C)

Raising of funds and their effective utilisation

D)

None of the above

Correct Answer : Management of cash

10 .

Diminishing returns are due to ______________ and increasing returns are due to ___________.

A)

Internal diseconomies, external economies

B)

External diseconomies, internal economies

C)

Internal economies, internal diseconomies

D)

Internal diseconomies, internal economies

Correct Answer : Internal diseconomies, internal economies

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