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

1 .

Which one of the following statements correctly describes the meaning of legal tender money?

A)

The money which is tendered in courts of law to defray the fee of legal cases

B)

The metallic money in circulation in a country

C)

The bank money in the form of cheques, drafts, bills of exchange etc.

D)

The money which a creditor is under compulsion to accept in settlement of his claims

Correct Answer : The money which a creditor is under compulsion to accept in settlement of his claims

Legal tender is any official medium of payment recognized by law that can be used to extinguish a public or private debt, or meet a financial obligation.

2 .

Which of the following is a social objective of business?

A)

Innovation

B)

Risk management

C)

Business coordination

D)

Employment generation

Correct Answer : Employment generation

3 .

In ....... economies, all productive resources are owned and controlled by the government.

A)

mixed

B)

socialist

C)

dual

D)

capitalist

Correct Answer : socialist

4 .

Which of the following schemes enjoys the benefit of triple tax exemptions, i.e., the exempt-exempt-exempt (EEE) status?

A)

Senior Citizens Savings Scheme (SCSS)

B)

National Savings Certificate Scheme

C)

Public Provident Fund

D)

Equity Linked Savings Scheme

Correct Answer : Public Provident Fund

PPF is one of the few investment products that enjoys the benefit of triple tax exemptions, i.e., the exempt-exempt-exempt (EEE) status.

5 .

Hindu rate of growth refers to the rate of growth of

A)

GDP

B)

Population

C)

Foodgrains

D)

Per captain income

Correct Answer : GDP

6 .

Which amongst the following states/UTs has Not identified tribal community

A)

Chhattisgarh

B)

Haryana

C)

Maharashtra

D)

Karnataka

Correct Answer : Haryana

7 .

Who coined the term 'Hindu rate of growth' for Indian economy

A)

Kirit S.Parikh

B)

A.K.Sen

C)

Montek Singh Ahluwalia

D)

Raj Krishna

Correct Answer : Raj Krishna

8 .

During which decade did the population of India record a negative growth rate

A)

1911 - 21

B)

1921 - 31

C)

1931 - 41

D)

1941 -51

Correct Answer : 1911 - 21

9 .

National Income estimates in India are prepared by

A)

Planning Commission

B)

Reserve Bank of India

C)

Central statistical organisation

D)

Indian statistical Institute

Correct Answer : Central statistical organisation

10 .

Impact of change in demand in one sector on other sectors is studied by

A)

Partial equilibrium

B)

General equilibrium

C)

Both (a) and (b)

D)

None of the above

Correct Answer : General equilibrium