Business and Economics - General Knowledge Questions

1 .
The income tax in India is
A)
Indirect and Proportional
B)
Direct and Progressive
C)
Direct and Proportional
D)
Indirect and Progressive

Correct Answer :   Direct and Progressive

2 .
Trade Adjustment Assistance is a term that is associated with
A)
Current Account Deficit
B)
Industrialisation
C)
Globalisation
D)
Capital flow

Correct Answer :   Globalisation

3 .
Which one of the following is not a dimension of the Human Development Index?
A)
A long and healthy life
B)
A decent standard of living
C)
Knowledge
D)
Access to banking and other financial provisions

Correct Answer :   Access to banking and other financial provisions

4 .
The 'Honey Mission' initiative of the Government of India aimed at production of healthy honey and wax is being implemented through
A)
Khadi and Village Industries Commission (KVIC)
B)
District Rural Development Agency (DRDA)
C)
Department of Food and Public Distribution
D)
Other than those given as options

Correct Answer :   Khadi and Village Industries Commission (KVIC)

5 .
Which is the correct statement with reference to the recently launched e-RAKAM portal?
A)
A digital platform for exchanging currencies
B)
A digital platform for buying and selling agricultural products
C)
A digital platform for paying taxes
D)
A digital platform for imports and exports

Correct Answer :   A digital platform for buying and selling agricultural products

6 .
What is the full form of EPCG?
A)
Export Promotion Consumer Goods
B)
Exchange Programme for Consumer Goods
C)
Export Promotion Capital Goods
D)
Expert Programme for Credit Generation

Correct Answer :   Export Promotion Capital Goods

7 .
Which one is not normally possible in case of monopoly?
A)
MR = AR
B)
MC = MR
C)
AC = AR
D)
MR = P

Correct Answer :   MR = AR

8 .
In a monopoly market, an upward shift in the market demand results in a new equilibrium with
A)
A higher quantity and lower price
B)
A higher quantity and higher price
C)
A higher quantity and the same price
D)
All of the above

Correct Answer :   All of the above

9 .
For maximisation of profit in the short run, the condition is
A)
AR = AC
B)
MC = AC
C)
MR = AR
D)
MR = MC

Correct Answer :   MR = MC

10 .
Shifts in demand curve include
A)
Extention in demand
B)
Increase in Demand (Upward shift)
C)
Contraction in demand
D)
None of the above

Correct Answer :   Increase in Demand (Upward shift)

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