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

Business and Economics - General Knowledge Questions

1 .

National Income may be determined through?

A)

Income Approach

B)

Productive Approach

C)

Expenditure Approach

D)

All of the above

Correct Answer : Option (D) - All of the above

2 .

The theory of Revealed preference was propounded by

A)

J. R. Hicki

B)

P.F. Drucker

C)

A. Marshall

D)

Paul Samuelson

Correct Answer : Option (D) - Paul Samuelson

3 .

If a commodity is used for multiple purposes then the demand for it is known as

A)

Composite Demand

B)

Joint Demand

C)

Autonomous Demand

D)

Direct Demand

Correct Answer : Option (A) - Composite Demand

4 .

For a competitive firm, long period normal price will

A)

Equal AC of production only

B)

Equal TC of production only

C)

Equal MC of production only

D)

Equal AC and MC of production

Correct Answer : Option (D) - Equal AC and MC of production

5 .

Cartels under oligopoly do not survive for long because of

A)

Low profit

B)

Heavy loss

C)

Inter firm rivalry

D)

High cost of marketing

Correct Answer : Option (C) - Inter firm rivalry

6 .

The headquarters of Economic and social Commission for Asia and the Pacific is located at

A)

Singapore

B)

Manila

C)

Bangkok

D)

Hong Kong

Correct Answer : Option (C) - Bangkok

7 .

When was Small Industries Development Bank of India (SIDBI) established?

A)

1990

B)

1995

C)

2000

D)

2005

Correct Answer : Option (A) - 1990

8 .

The economic development process is concerned with

A)

a rise in per capita income

B)

a rise in percentage of G.D.P.

C)

changes in the structure of economy

D)

All of the above

Correct Answer : Option (D) - All of the above

9 .

Special Drawing Rights (SDRs) is available at

A)

OECD

B)

IMF

C)

IBRD/ World Bank

D)

International Development Association

Correct Answer : Option (B) - IMF

10 .

Effective Corporate tax (including the base rate, cess, surcharge, dividend distribution tax and any other addition tax) is highest in

A)

France

B)

Brazil

C)

India

D)

Japan

Correct Answer : Option (C) - India