Business and Economics - General Knowledge Questions

1 .
Which of the following is an assumption of the model of perfect competition?
A)
Perfect mobility of factors of production
B)
No government regulation
C)
Product homogeneity
D)
All of the above

Correct Answer :   All of the above

2 .
Long-term fiscal policy was announced by which Finance Minister of India?
A)
V. P. Singh
B)
P. Chidambaram
C)
Dr. Manmohan Singh
D)
Yashwant Sinha

Correct Answer :   V. P. Singh

3 .
The annual investment limit under the public provident fund (PPF) scheme
A)
Rs. 1,00,000
B)
Rs. 1,50,000
C)
Rs. 2,25,000
D)
Rs. 2,50,000

Correct Answer :   Rs. 1,50,000

4 .
The five year plan model of India is supposed to be taken from ?
A)
USA
B)
UAE
C)
USSR
D)
UK

Correct Answer :   USSR

5 .
Which of the following is a part of Liquidity Adjustment Facility (LAF) ?
A)
Cash Reserve Ratio
B)
Reverse Repo Rate
C)
Repo Rate
D)
All of the above

Correct Answer :   Cash Reserve Ratio

6 .
Narsimhan Committee-II was set up for which of the following purposes ?
A)
Efficiency and Productivity
B)
Banking reform process
C)
Export of IT sector
D)
Fiscal Reform process

Correct Answer :   Banking reform process

7 .
Which one of the following statements about 'Niryat Bandhu Scheme' is correct ?
A)
It is a scheme for mentoring first generation entrepreneurs
B)
It is a scheme for the vulnerable section of the socity
C)
It is a scheme for monitoring rural poor
D)
It is a scheme for crop protection

Correct Answer :   It is a scheme for mentoring first generation entrepreneurs

8 .
In case of contraction or extension in demand, the movement is along a demand curve whereas in case of increase or decrease, the demand curve will move
A)
upward
B)
downward
C)
Any of these
D)
None of the above

Correct Answer :   Any of these

9 .
A market situation in which there are only few sellers & each seller can influence its price-output policy is called
A)
Duopoly
B)
Oligopoly
C)
Monopoly
D)
Monopolistic

Correct Answer :   Oligopoly

10 .
The monopolist faces
A)
A downward sloping demand curve
B)
A downward sloping average revenue curve
C)
Both (a) and (b)
D)
None of the above

Correct Answer :   Both (a) and (b)

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