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

1 .

A labour intensive industry is one that

A)

Employs more hands

B)

Requires hard manual labour

C)

Pays adequate wages to the labour

D)

Provides facilities to labour

Correct Answer : Option (A) - Employs more hands

2 .

Sub-prime crisis is a term associated with which one of the following events?

A)

Political instability

B)

Structural adjustment programmes

C)

Economic recession

D)

Growing social inequality

Correct Answer : Option (C) - Economic recession

3 .

Measures of distribution of income

A)

Lorenz Curve

B)

Philip Curve

C)

Marshall Curve

D)

Lafer Curve

Correct Answer : Option (A) - Lorenz Curve

4 .

Which one of the following will not have a direct impact on human capital formation?

A)

Education

B)

Training

C)

Medical care

D)

Irrigation

Correct Answer : Option (D) - Irrigation

5 .

Which of the following is not a production tax?

A)

Stamp duties

B)

Registration fees

C)

Land revenue

D)

Import Duties

Correct Answer : Option (D) - Import Duties

6 .

The new base year adopted by CSO for releasing GDP data is

A)

2009-10

B)

2010-11

C)

2011-12

D)

2014-15

Correct Answer : Option (C) - 2011-12

7 .

In which year did UNO adopt a definition of absolute poverty?

A)

1994

B)

1995

C)

1996

D)

1997

Correct Answer : Option (B) - 1995

8 .

Inflation is measured by which index in India?

A)

CPL (Consumer Price Index)

B)

WPI (Whole price Index)

C)

GDP (Gross Domestic Product)

D)

IIP (Index of Industrial Production)

Correct Answer : Option (A) - CPL (Consumer Price Index)

9 .

The Indian Coins are minted at the four Indian Government Mints, which of the following is 'not' one of them?

A)

India Government Mint, Hyderabad (Telangana)

B)

India Government Mint, Kolkata (West Bengal)

C)

India Government Mint, Nasik (Maharashtra)

D)

India Government Mint, Mumbai (Maharashtra)

Correct Answer : Option (C) - India Government Mint, Nasik (Maharashtra)

10 .

What is meant by price discrimination?

A)

Subsidization of a product by the Government to sell it at a lower price

B)

Increase in price of a commodity over time

C)

General decrease in price of a commodity over time

D)

A situation where the same product is sold to different consumers for different prices

Correct Answer : Option (D) - A situation where the same product is sold to different consumers for different prices