Business and Economics - General Knowledge Questions

1 .
Which of the following refers to perfect competition
A)
There are no restrictions on movement of goods
B)
There are no restrictions on factors of production
C)
Both (a) and (b)
D)
There are restrictions on buyers and sellers

Correct Answer :   Both (a) and (b)

2 .
Duopoly means
A)
Two firms are independent as regards their price-output decisions
B)
Two firms are interdependent as regards their price-output decisions
C)
Two monopoly firms
D)
None of the above

Correct Answer :   Two firms are interdependent as regards their price-output decisions

3 .
Bilateral monopoly means
A)
Two rival buyers only
B)
Two rival sellers only
C)
A monopolist facing a monopsonist
D)
A monopoly seller buying his input from many suppliers

Correct Answer :   A monopolist facing a monopsonist

4 .
Devaluation of 'Mudra'
A)
increases the imports and exports of a country
B)
decreases the imports and exports of a country
C)
increases the exports and decreases the imports of a country
D)
increases the imports and decreases the exports of a country

Correct Answer :   increases the imports and decreases the exports of a country

5 .
As per the guidelines issued by the Reserve Banks of India classify as Non-Performing Asset (NPA) only if the interest due and during any quarter is not serviced full within
A)
90 days from the end of the quarter
B)
60 days from the end of the quarter
C)
60 days from the beginning of the quarter
D)
30 days from the end of the quarter

Correct Answer :   90 days from the end of the quarter

6 .
Which Indian State has been declared as the first 'Digital State' of India?
A)
Goa
B)
Maharashtra
C)
Kerala
D)
Karnataka

Correct Answer :   Kerala

7 .
IPPBL has received the Certificate of Incorporation from the Registrar of Companies and has become the first PSU under the Department of post. What is the full from of IPPBL ?
A)
India post paying Bank Limited
B)
India post payments Bank Limited
C)
India post-Office payments Limited
D)
International post payments Bank Limited

Correct Answer :   India post payments Bank Limited

8 .
Bases of industrial region classification is
A)
Number of Registered units of industries
B)
Population engaged tertiary activities
C)
Number of industrial workers
D)
All of the above

Correct Answer :   All of the above

9 .
What is the term used to explain the gap between total expenditure and total receipts, including both the capital and revenue expenditure and receipts ?
A)
Revenue deficit
B)
Fiscal deficit
C)
Budget deficit
D)
Primary deficit

Correct Answer :   Budget deficit

10 .
At present, how many countries are the members of the International Monetary Fund (IMF) ?
A)
188
B)
189
C)
190
D)
191

Correct Answer :   189

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