Business and Economics - General Knowledge Questions

1 .
Which plan gave emphasis on removal of poverty for the first time
A)
Fourth
B)
Fifth
C)
Sixth
D)
Seventh

Correct Answer :   Fifth

2 .
In India, Agriculture income is calculated by
A)
Output method
B)
Input method
C)
Expenditure method
D)
Commodity flow method

Correct Answer :   Output method

3 .
Study of demand over two periods is called
A)
Static
B)
Dynamic
C)
Comparative static
D)
None of the above

Correct Answer :   Comparative static

4 .
Which type of competition leads to exploitation of consumer?
A)
Oligopoly
B)
Monopoly
C)
Monopolistic competition
D)
All of the above

Correct Answer :   All of the above

5 .
Income elasticity is computed by
A)
ei = (Y2 - Y1 ) / e1
B)
ei = (Y1 - Y2 ) / P1
C)
ei = (Q2 - Q1 ) / P1 ​
D)
ei = ( (Q2 - Q1 ) / Q1 ​) / ( (Y2 - Y1 ) / Y1 ​)

Correct Answer :   ei = ( (Q2 - Q1 ) / Q1 ​) / ( (Y2 - Y1 ) / Y1 ​)

6 .
Elasticity of demand measures the
A)
Volume of product
B)
Volume of product
C)
Sensitivity of production to changes in a particular cost
D)
Sensitivity of sales to changes in a particular causal factor

Correct Answer :   Sensitivity of sales to changes in a particular causal factor

7 .
A situation in which the number of competing firms is relatively small is known as
A)
Monopoly
B)
Oligopoly
C)
Monopsony
D)
Perfect competition

Correct Answer :   Oligopoly

8 .
National Social Assistance Programme does not include the following scheme for 'Below Poverty Line' households
A)
National Family Benefit Scheme
B)
Annapurna
C)
Mahila Kisan Sashaktikaran Pariyojana
D)
All of the above

Correct Answer :   Mahila Kisan Sashaktikaran Pariyojana

9 .
World Investment report is brought out by
A)
World Economic Forum
B)
OECD
C)
IMF
D)
UNCTAD

Correct Answer :   UNCTAD

10 .
Increase is absolute and per capital real GNP does not connote a higher level of economic development, if
A)
industrial output fails to keep pace with agricultural output
B)
agricultural output fails to keep pace with industrial output
C)
poverty and unemployment increase
D)
imports grow faster than exports

Correct Answer :   poverty and unemployment increase

An essential aspect of development is to enable the maximum number to experience the fruits of development. Concepts of per capita income (per capita GDP or per capita NSDP) are not able to capture this aspect of development.

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