Business and Economics - General Knowledge Questions

1 .
Which one of the following is not correct about the price discrimination by a monopolist, who intends to
A)
Maximise the sales / profit
B)
Share the consumer's surplus
C)
Reduce the welfare of masses
D)
Increase the welfare of masses

Correct Answer :   Increase the welfare of masses

2 .
As per indifference curve and price line, a consumer will not be in equilibrium when
A)
The marginal rate of substitution is equal to the ratio of prices of the two goods
B)
Ratio of marginal utilities of the two goods is equal to the ratio of their respective prices
C)
The marginal rate of substitution is decreasing
D)
Ratios of marginal utilities and price of the respective goods are equal

Correct Answer :   The marginal rate of substitution is decreasing

3 .
Total production will be maximum when
A)
Marginal production is zero
B)
Average production is maximum
C)
Marginal production is maximum
D)
Average production is equal to the marginal production

Correct Answer :   Marginal production is zero

4 .
The creation of Regional Rural Banks in 1975 was conceptualised based on the recommendations of the
A)
Sivaraman Working Group
B)
Narasimham Working Group
C)
D.R. Gadgil Working Group
D)
D.R. Mehta Working Group

Correct Answer :   Narasimham Working Group

5 .
Which of the following is an example of Wash sales?
A)
Accelerated Income recognition
B)
Estate planning
C)
Money Laundering
D)
Tax Avoidance

Correct Answer :   Tax Avoidance

6 .
Which sector contributes maximum share in the National Income of India?
A)
Agricultural Sector
B)
Industrial Sector
C)
Service Sector
D)
None of the above

Correct Answer :   Service Sector

7 .
The theme of XI BRICS Summit 2019 was
A)
'Economic Growth for an Innovative Future'
B)
'Growth, Equity and Inclusiveness'
C)
'Growth with Sustainable Future'
D)
'Development with Equity'

Correct Answer :   'Economic Growth for an Innovative Future'

8 .
NABARD was set up with an initial capital of
A)
Rs. 200 crore
B)
Rs. 300 crore
C)
Rs. 150 crore
D)
Rs. 100 crore

Correct Answer :   Rs. 100 crore

9 .
A brownfield expansion broadly refers to
A)
Setting up a new factory
B)
Extending an existing factory
C)
Splitting one unit into several units
D)
Merging two units to create one large unit

Correct Answer :   Extending an existing factory

It usually takes place as an extension of the current factory or plant, rather than at a new location.

10 .
In a typical demand schedule, quantity demanded
A)
Varies directly with price
B)
Is independent of price
C)
Varies proportionately with price
D)
Varies inversely with price

Correct Answer :   Varies inversely with price

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