Business and Economics - General Knowledge Questions

1 .
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 :   Equal AC and MC of production

2 .
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 :   Inter firm rivalry

3 .
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 :   Bangkok

4 .
When was Small Industries Development Bank of India (SIDBI) established?
A)
1990
B)
1995
C)
2000
D)
2005

Correct Answer :   1990

5 .
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 :   All of the above

6 .
Special Drawing Rights (SDRs) is available at
A)
OECD
B)
IMF
C)
IBRD/ World Bank
D)
International Development Association

Correct Answer :   IMF

7 .
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 :   India

8 .
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

9 .
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).

10 .
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

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