Business and Economics - General Knowledge Questions

1 .
Operation Clean Money is started by
A)
Central Board of Direct Taxes
B)
Income Tax Department
C)
Ministry of Finance
D)
NITI Ayog

Correct Answer :   Income Tax Department

2 .
Laws of increasing and constant returns are temporary phase of
A)
Law of proportionality
B)
Law of Diminishing Utility
C)
Law of variable proportion
D)
Law of Diminishing Return

Correct Answer :   Law of variable proportion

3 .
Under kinked demand model, the demand curve for the firm's product is drawn on the assumption that
A)
All rivals follow the oligopolist upto certain price but beyond that they do not
B)
All rivals charge a price independent of the price charged by the oligopolist
C)
All rivals charge the same price which is charged by the oligopolist
D)
All oligopolist charges the price as independent sellers

Correct Answer :   All rivals follow the oligopolist upto certain price but beyond that they do not

4 .
Opportunity cost means
A)
Cost of the Last unit
B)
Cost of all units produced
C)
Cost of next best alternative
D)
Cost of a Homogeneous product

Correct Answer :   Cost of next best alternative

5 .
Which of the following does not influence the individual demand for a product
A)
price of product
B)
price of close substitute
C)
change in climatic conditions
D)
change in climatic conditions

Correct Answer :   change in climatic conditions

6 .
The % change in demand for a product A divided by the % change in price of product B indicates the degree of
A)
Price Elasticity of Demand
B)
Cross Elasticity of Demand
C)
Ionic Elasticity of Demand
D)
Advertising Elasticity of Demand

Correct Answer :   Cross Elasticity of Demand

7 .
The World Trade Organisation (WTO) was earlier known as
A)
GATT
B)
UNICEF
C)
UNCTAD
D)
FAO

Correct Answer :   GATT

8 .
Interest rate on Public Provident Fund is determined by the
A)
Reserve Bank of India
B)
Respective Commercial Banks
C)
Ministry of Finance
D)
Employees Provident Fund Organisation

Correct Answer :   Ministry of Finance

9 .
What was the purpose of Inter-Creditor Agreement signed by Indian banks and financial institutions recently?
A)
To act as independent regulator in case of applications for loans of Rs 50 crore or more
B)
To aim at faster resolution of stressed assets of Rs 50 crore or more which are under consortium lending
C)
To support the infrastructure projects of Central and State Governments
D)
To lessen the Government of India's perennial burden of fiscal deficit and current account deficit

Correct Answer :   To aim at faster resolution of stressed assets of Rs 50 crore or more which are under consortium lending

10 .
RBI's 'Payment and Settlement Systems in India : Vision 2019- 2021' looks at
A)
'Cash-lite society
B)
Innovation and financial Inclusion
C)
Cyber security and consumer protection
D)
All of the above

Correct Answer :   All of the above

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