Business and Economics - General Knowledge Questions

1 .
Base year for the estimation of national income is
A)
2010-11
B)
2011-12
C)
2012-13
D)
2013-14

Correct Answer :   2011-12

2 .
According to Reserve Bank of India guidelines, the deadline for Indian Banks to meet capital requirements under the Basel III norms is
A)
31st March, 2018
B)
31st March, 2019
C)
31st March, 2020
D)
31st March, 2021

Correct Answer :   31st March, 2019

3 .
Group Insurance is a plan of insurance which covers a similar or homogeneous group of individual under a single policy called the
A)
Master Policy
B)
Commercial policy
C)
Mutual Insurance Policy
D)
None of those given as options

Correct Answer :   Master Policy

4 .
Surge pricing takes place when a service provider
A)
fixes an average price on the basis of transactions carried over a day
B)
fixes a minimum price for its service
C)
raises the price of its product or service as demand outstrips supply
D)
follows preset prices immune to demand and supply dynamics

Correct Answer :   raises the price of its product or service as demand outstrips supply

5 .
When was the State Bank of India established?
A)
1954
B)
1955
C)
1956
D)
1957

Correct Answer :   1955

6 .
An indifference curve slopes down towards right since more of one commodity and less of another result in
A)
Decreasing expenditure
B)
Same satisfaction
C)
Maximum satisfaction
D)
Greater satisfaction

Correct Answer :   Same satisfaction

7 .
'Kinked' demand curve is related with
A)
Discriminating monopoly
B)
Perfect competition
C)
Monopoly
D)
Oligopoly

Correct Answer :   Discriminating monopoly

8 .
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

9 .
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

10 .
Demand has the following elements
A)
Time
B)
Price
C)
Quantity
D)
All of the above

Correct Answer :   All of the above

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