Business and Economics - General Knowledge Questions

1 .
Under perfect competition a firm can produce with
A)
Maximum profit
B)
An optimum plant
C)
An optimum output
D)
Identical products at low cost

Correct Answer :   An optimum plant

2 .
If a monopolist is producing under decreasing cost conditions, increase in demand is beneficial to the society because
A)
Consumers get better quality goods
B)
Goods will be sold in many markets
C)
Cost of production falls and hence price
D)
None of the above

Correct Answer :   Cost of production falls and hence price

3 .
Invisible export means export of
A)
Services
B)
Prohibited goods
C)
Unrecorded goods
D)
Goods through smuggling

Correct Answer :   Services

4 .
Which one of the following canons of taxation was not advocated by Adam Smith?
A)
Canon of equality
B)
Canon of certainty
C)
Canon of convenience
D)
Canon of fiscal adequacy

Correct Answer :   Canon of fiscal adequacy

5 .
Corporate Average Fuel Efficiency/ Economy Regulations in India came into force from
A)
April 1, 2016
B)
April 1, 2017
C)
April 1, 2018
D)
April 1, 2019

Correct Answer :   April 1, 2017

6 .
The Global Competitiveness Report is published by the
A)
World Bank
B)
International Monetary Fund
C)
World Economic Forum
D)
United Nations Conference on Trade and Development

Correct Answer :   World Economic Forum

7 .
Uruguary round pertains to
A)
GATT
B)
WTO
C)
IMF
D)
World Bank

Correct Answer :   WTO

8 .
In simple words which of the following measures is termed as the National Income of a country?
A)
Net National Product at Factor Cost (NNP at FC)
B)
Net National Product at Market Price (NNP at MP)
C)
Gross National Income at Factor Cost (GNI at FC)
D)
Net Domestic Product at Market Price (NDP at MP)

Correct Answer :   Net National Product at Factor Cost (NNP at FC)

9 .
The Shanghai Cooperation Organization summit in which India was inducted as a full member was held at
A)
Dushanbe
B)
Ufa
C)
Astana
D)
Tashkent

Correct Answer :   Astana

10 .
When the rate of inflation increases
A)
purchasing power of money increases
B)
purchasing power of money decreases
C)
value of money increases
D)
value of money decreases

Correct Answer :   purchasing power of money decreases

Quick Links
Interview Questions
S/W Technology
Civil,   Mech
ECE,   EEE
More Technologies
MCQ (or) Quiz
S/W Technology
Civil,   Mech
ECE,   EEE
Aeronautical
Example Programs
C Language,   C++,   Java,   PHP,   Python
Articles
Marketing Management
Tech Updates
Tech Articles
Tools
Color Picker
Interest Calculator
EMI Calculator
Vehicle EMI Calculator
Compailers
HTML
C & CPP
PHP
Python