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

1 .

Which of the following is a correct statement

A)

The desire for a commodity backed by ability and willingness to pay is demanded

B)

When income increases demand for essential good increase, more than proportionately

C)

The demand for a commodity is inversely related to the price of its substitutes.

D)

Decrease in input prices causes a left word shift in the supply curve

Correct Answer : The desire for a commodity backed by ability and willingness to pay is demanded

2 .

In oligopoly market kinked demand curve explains

A)

Short run average cost curve

B)

Long run average cost curve

C)

Average variable cost curve

D)

Collusion among rival firms

Correct Answer : Collusion among rival firms

3 .

An example of derived demand is

A)

Car

B)

Money

C)

Cigarette

D)

Mobile Phone

Correct Answer : Money

4 .

All the following curves are U-shaped except

A)

AC curve

B)

MC curve

C)

AFC curve

D)

AFC curve

Correct Answer : AFC curve

5 .

What is the nature of Elasticity of demand for luxury items like high class furniture

A)

zero elastic

B)

unit elastic

C)

fairly elastic

D)

highly elastic

Correct Answer : highly elastic

6 .

The share of the concerned State Government in the capital of Regional Rural Banks is

A)

5%

B)

15%

C)

30%

D)

50%

Correct Answer : 15%

7 .

Which one of the following was the main objective of 12th Five Year Plan?

A)

Inclusive growth

B)

Increase in per capita GDP

C)

Self-reliant and self-gene-rated economy

D)

Poverty eradication and achievement of self-reliance

Correct Answer : Inclusive growth

8 .

The main reason for the high growth of money supply in India since 1990 is

A)

Foreign borrowing

B)

RBI credit to the government

C)

Budgetary expenditure

D)

Taxation

Correct Answer : Foreign borrowing

9 .

Which one is the apex institution in the sphere of agricultural financing in India?

A)

Corporation Bank

B)

Cooperative Bank

C)

Regional Rural Banks

D)

NABARD

Correct Answer : NABARD

10 .

Which of following is India's oldest and most successful initiative of Digital India Programme?

A)

Digilocker

B)

UMANG

C)

Direct Benefit Transfer

D)

Pradhan Mantri Gramin Digital Saksharta Mission

Correct Answer : Direct Benefit Transfer