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

1 .

Which one of the following factors is not considered in determining the Minimum Support Price (MSP) in India?

A)

Price trends in international and domestic markets

B)

Cost of production

C)

Inter-crop price parity

D)

Cost of living index

Correct Answer : Cost of living index

2 .

The term Seingnorage refers to

A)

Intrinsic value of currency notes less the cost of production

B)

Cost of production of currency notes less intrinsic value

C)

Domestic currency value less foreign currency value

D)

Inflation adjusted currency value

Correct Answer : Intrinsic value of currency notes less the cost of production

For very low-value currencies the 'Seingnorage' amount can be negative. In such situations, the central bank (Currency issuing authority) usually discontinues fresh issuance of that denomination (currency).

3 .

Outcome focused schemes for vocational education and training SANKALP and STRIVE launched by the Government of India, are supported by the

A)

International Labor Organization

B)

World Bank

C)

World Economic Forum

D)

UN Economic and Social Council

Correct Answer : World Bank

4 .

Which are the BRIC countries?

A)

Brazil, Russia, India and Canada

B)

Britain, Russia, India and China

C)

Brazil, Russia, India and China

D)

Britain, Russia, India and Canada

Correct Answer : Brazil, Russia, India and China

5 .

Which one of the following programmes was initiated during the Sixth Five-Year Plan?

A)

Integrated Rural Development

B)

Rural Literacy Development

C)

Rural Railways

D)

Advanced Communication Links for Rural People

Correct Answer : Integrated Rural Development

6 .

Marginal revenue is at the quantity that generates maximum total revenue and negative beyond that point

A)

-1

B)

0

C)

1

D)

2

Correct Answer : 0

7 .

A firm's marginal revenue

A)

is always positive

B)

is always negative

C)

can be positive

D)

is positive at point at which the total revenue is maximum

Correct Answer : is positive at point at which the total revenue is maximum

8 .

Study of collusive agreement is

A)

Collusive oligopoly

B)

Monopoly

C)

Non-Collusive oligopoly

D)

All of the above

Correct Answer : Collusive oligopoly

9 .

An indifference curve is always

A)

Concave to the origin

B)

A vertical straight line

C)

Convex to the origin

D)

A horizontal straight line

Correct Answer : Convex to the origin

10 .

Which of the following is an important dynamic variable?

A)

Cultural variables

B)

The task structure

C)

Organisational nature

D)

Superior's style and behaviour

Correct Answer : The task structure