Business and Economics - General Knowledge Questions

1 .
Which of the following is not the means of remitting money ?
A)
Telegraphic transfer
B)
Mail transfer
C)
RTGS
D)
Electronic clearing service

Correct Answer :   Electronic clearing service

2 .
The least liquid asset in a balance sheet would be :
A)
Stocks and inventories
B)
Short-term investments
C)
Trade debtors
D)
Cash and Bank balances

Correct Answer :   Stocks and inventories

3 .
The Cabinet Committee on Investments has been set up to address which of the following?
A)
To submit a report on the hurdles creating bottle-necks in the economy
B)
To boost big ticket investments and untangle red-tapism
C)
To fast track disinvestment in PSUs
D)
To attract foreign investment into India

Correct Answer :   To boost big ticket investments and untangle red-tapism

4 .
India's first International Stock Exchange is in
A)
Gandhinagar
B)
Ahmedabad
C)
Vadodara
D)
Mumbai

Correct Answer :   Gandhinagar

5 .
In the long run, under perfect competition price of the factor is equal to
A)
Average revenue product (ARP)
B)
Marginal revenue product (MRP)
C)
Both (a) and (b)
D)
Marginal physical product

Correct Answer :   Both (a) and (b)

6 .
The market period supply curve for perishable commodities is
A)
Relatively elastic
B)
Perfectly elastic
C)
Perfectly inelastic
D)
Relatively inelastic

Correct Answer :   Perfectly inelastic

7 .
A profit-maximising monopolist in two separate markets will
A)
Charge the same price in both markets
B)
Always charge a higher price in the market where he sells less
C)
Always charge a higher price in the market where he sells more
D)
Adjust his sales in the two markets so that his MR in each market just equals his aggregate marginal cost

Correct Answer :   Adjust his sales in the two markets so that his MR in each market just equals his aggregate marginal cost

8 .
In the perfect competition at short run, the firm is a price .......... and can sell......... amount of output at the going market price.
A)
Maker, Any
B)
Taker, any
C)
Taker, a definite
D)
None of the above

Correct Answer :   Taker, any

9 .
The difference between monopoly equilibrium and competitive equilibrium is
A)
There is no difference at all
B)
Under perfect competition, the MC = MR whereas under monopolistic conditions this need not be the case
C)
The MC should rise at the point of equilibrium under perfect competition whereas under monopoly it can rise, fall or remain constant
D)
None of the above

Correct Answer :   The MC should rise at the point of equilibrium under perfect competition whereas under monopoly it can rise, fall or remain constant

10 .
Angel tax is very specifically related to
A)
Start-ups
B)
Religious Trusts
C)
Non-Banking Finance Companies
D)
NGOs working for the welfare of Children

Correct Answer :   Start-ups

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