Business and Economics - General Knowledge Questions

1 .
When goods in the domestic market are sold at a high price in the foreign market at a low price, it is a situation of
A)
Duopoly
B)
Oligopoly
C)
Dumping
D)
Perfect Competition

Correct Answer :   Dumping

2 .
Which of the following is not a condition of successful price discrimination
A)
Location of markets at distinct place
B)
Seller should be an MNC
C)
Consumers ignorance and prejudice
D)
Different elasticity of demand for different customer

Correct Answer :   Seller should be an MNC

3 .
Which of the following is the best general definition of the study of economics
A)
Individual and social choice in the face of scarcity
B)
The best way to invest in the stock market
C)
Business decision making under foreign competition
D)
lnflation and employment in a growing economy

Correct Answer :   Individual and social choice in the face of scarcity

4 .
Price discrimination policy helps in increasing profit in case of
A)
Oligopoly
B)
Perfect competition
C)
Monopoly
D)
Monopolistic competition

Correct Answer :   Monopoly

5 .
According to extant RBI guidelines, Payment Bank are not permitted to
A)
set up branches or ATMs
B)
accept remitances to be sent to multiple banks
C)
distribute mutual fund/ insurance/ pension products
D)
set up subsidiaries to under take NBFC activities

Correct Answer :   set up subsidiaries to under take NBFC activities

6 .
Which of the following statements correctly depicts Take off stage in an economy?
A)
It means economy is stagnant.
B)
It means steady growth begins.
C)
It means economy is about to collapse
D)
It means all controls are removed from economy.

Correct Answer :   It means steady growth begins.

7 .
World Economic Forum was founded by
A)
Klaus Schwab
B)
Paul Krugman
C)
Peter Thiel
D)
Bill Gates

Correct Answer :   Klaus Schwab

8 .
Who is the guardian of public fund in India?
A)
President
B)
Prime Minister
C)
Finance Minister
D)
Comptroller and Auditor General

Correct Answer :   Comptroller and Auditor General

9 .
World Economic Forum introduced the new Global Competitiveness Index 4.0 in 2019. In this Index 4.0 represents
A)
Industry 4.0 (Fourth Industrial Revolution)
B)
Service 4.0 (Fourth Services Revolution)
C)
Agriculture 4.0 (Fourth Agricultural Revolution
D)
IT 4.0 (Fourth generation IT solutions)

Correct Answer :   Industry 4.0 (Fourth Industrial Revolution)

10 .
Which Indian State has the largest number of Cotton Textile mills?
A)
Madhya Pradesh
B)
West Bengal
C)
Maharashtra
D)
Gujarat

Correct Answer :   Maharashtra

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