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

Business and Economics - General Knowledge Questions

1 .

Who wrote a book describing the theory of economic drain of India during British rule

A)

Lajpat rai

B)

Mahatma Gandhi

C)

Jawaharlal nehru

D)

Dadabhai naoroji

Correct Answer : Dadabhai naoroji

2 .

The prices at which the government purchases food grains for maintaining the Public Distribution system (PDS) and for building up buffer - stock is known as

A)

minimum support prices

B)

procurement prices

C)

issue prices

D)

ceiling prices

Correct Answer : procurement prices

3 .

When did India's population touch 100 crore mark

A)

May, 2003

B)

May, 2002

C)

May, 2000

D)

May, 1998

Correct Answer : May, 2000

4 .

Who had estimate National Income in India first

A)

R.C. Dutt

B)

Dadabhai Naoroji

C)

D.R.Gadgil

D)

V.K.R.V.Rao

Correct Answer : Dadabhai Naoroji

5 .

Marginal cost curve cuts the average cost curve from below at

A)

its lowest point

B)

the left of the lowest point

C)

the right of the lowest point

D)

all of the above

Correct Answer : its lowest point

6 .

Selling costs have to be incurred in case of

A)

Perfect competition

B)

Imperfect competition

C)

Monopolistic competition

D)

None of the above

Correct Answer : Monopolistic competition

7 .

Other things remaining the same, when a consumer's income increases, his equilibrium point moves to

A)

A lower indifference curve

B)

A higher indifference curve

C)

Remains unchanged on the same indifference curve

D)

Remains unchanged on the same indifference curve

Correct Answer : Remains unchanged on the same indifference curve

8 .

A situation where there is only one buyer is called

A)

Perfect competition

B)

Monopsony

C)

Monopoly

D)

Oligopoly

Correct Answer : Monopsony

9 .

Imperfect competition was introduced by

A)

Chamberlin

B)

Marshall

C)

Keynes

D)

None of the above

Correct Answer : Chamberlin

10 .

MDR is a free charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments. MDR stands for

A)

Merchant Discount Ratio

B)

Merchant Discount Rate

C)

Merchant Discount Rating

D)

Merchant Development Rate

Correct Answer : Merchant Discount Rate