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

1 .

Price discrimination is profitable and possible of the two market have

A)

Equal Elasticity of Demand

B)

High Elastic Demand

C)

Inelastic demand

D)

Different Elasticity of Demand

Correct Answer : Different Elasticity of Demand

2 .

The consumer is in equilibrium at a point where the budget line

A)

Is tangent to an indifference curve

B)

Is above an indifference curve

C)

Is below an indifference curve

D)

Cuts an indifference curve

Correct Answer : Is tangent to an indifference curve

3 .

Demand has the following elements

A)

Time

B)

Price

C)

Quantity

D)

All of the above

Correct Answer : All of the above

4 .

A firm is in equilibrium when its

A)

Total cost is minimum

B)

Total revenue is maximum

C)

Marginal cost equals the marginal revenue

D)

Average revenue and marginal revenue are equal

Correct Answer : Marginal cost equals the marginal revenue

5 .

The term bootstrapping is often associated with

A)

Mutual Funds

B)

Start-ups

C)

Advertising Agencies

D)

Venture Capital Funds

Correct Answer : Start-ups

6 .

The Chairmen of public sector banks are selected by the

A)

Banks Board Bureau

B)

Reserve Bank of India

C)

Union Ministry of Finance

D)

Management of concerned bank

Correct Answer : Banks Board Bureau

7 .

Which of the following statements is correct about gig economy?

A)

A capital intensive economy with a high level of automation

B)

A labour intensive economy with a little or no automation

C)

An economy having a large foot prints of 'barter trade'

D)

A labour market characterized by the prevalence of shortterm contracts or freelance work, as opposed to permanent jobs

Correct Answer : A labour market characterized by the prevalence of shortterm contracts or freelance work, as opposed to permanent jobs

8 .

The venue of the formal launching of GST in India on July 1, 2017 was

A)

Rashtrapati Bhawan

B)

Prime Minister's Office

C)

Parliament House

D)

India Gate

Correct Answer : Parliament House

9 .

As per World Trade Organisation's 'Agreement on Agriculture which type of subsidy has no mention in this agreement?

A)

Yellow Subsidies

B)

Green Subsidies

C)

Amber Subsidies

D)

Red Subsidies

Correct Answer : Yellow Subsidies

10 .

The headquarters of World Intellectual Property Organisation is in which of the following country

A)

England

B)

Switzerland

C)

India

D)

USA

Correct Answer : Switzerland