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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Market Price is found in :(a) Short Period (b) long period Market (c) Very long Period (d) None of these |
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Answer» (a) Short Period |
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| 2. |
Which is a characteristic of the market ?(a) One Area (b) Presence of both Buyers and sellers (c) Single Price of the commodity (d) All the above |
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Answer» (d) All the above |
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| 3. |
When average cost is decreasing what status marginal cost has an compared to average cost ?(a) MC > AC (b) MC = AC (c) MC ≤ AC (d) MC ≠ AC |
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Answer» (c) MC ≤ AC. |
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| 4. |
What is true for the central bank :- (a) Apex bank of the country (b) Ownership of the government (c) Regulates the entire banking system in the country (d) All the above |
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Answer» (d) All the above |
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| 5. |
The size of the aggregate accepted as suitable for R.C.C. construction work is about:- 1. 5 mm to 20 mm2. 3 mm to 5 mm3. 1.0 mm to 3 mm4. 0.5 mm to 1.0 mm |
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Answer» Correct Answer - Option 1 : 5 mm to 20 mm Concept: As per IS 456:2000 maximum size of aggregate for concrete should be confined to: (a)As per Cl 5.3.3
(b)As per Cl 5.3.3.1
(c) It should not be more than one-fourth of the minimum thickness of the member. So, The size of the aggregate accepted as suitable for R.C.C. construction work is about 5mm to 20mm. IS 383 (1970): Specification for coarse and fine aggregates from natural sources for concrete. |
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| 6. |
Prepare a table showing differences between interview and questionnaires.InterviewQuestionnaire1. Verbal conversation between 2 persons1. Collects information, in writing.2.2.3.3.4.4. |
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| 7. |
Which one is included in the primary function of money ? (a) Medium of exchange (b) Measure of value (c) Both (a) and (b) (d) Store of value |
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Answer» Store of value is included in the primary function of money. |
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| 8. |
Which of the following is not fixed cost ?(a) Insurance Premium (b) Interest (c) cost of Raw material (d) Rent of the factory |
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Answer» (c) cost of Raw material |
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| 9. |
What do you mean by sample survey? How is it different from census? |
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Answer» Collecting information from the entire population is the census method. Selecting a particular group of people from the study area to collect information is the sample survey. |
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| 10. |
Complete the list 1. Social survey 2. ……………… 3. ……………… 4. ……………… |
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Answer» 1. Social survey 2. Interview 3. Case study 4. Observation |
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| 11. |
What are the advantage of Barter System? (a) Simple System (b) More mutual Co-operation (c) No economic disparities (d) All the above |
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Answer» (d) All the above |
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| 12. |
An active factor of Production is(a) Capital (b) Labour (c) Land (d) None of these |
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Answer» Labour is an active factor of Production. |
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| 13. |
Micro Economics includes :(a) Individual unit(b) Small units(c) Individual Price determination(d) All of these |
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Answer» (d) All of these |
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| 14. |
Who gave the cardinal concept of utility ?(a) Marshall (b) Pigou (c) Hicks (d) Samuelson |
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Answer» Marshall gave the cardinal concept of utility. |
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| 15. |
Census is conducted one in ……….. years. |
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Answer» Census is conducted one in 10 years. |
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| 16. |
‘Census method is not always possible’. Do you agree? Why? |
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Answer» Yes. Census method is not always possible due the following reasons.
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| 17. |
Who said, “ Economics is a science of wealth, “ ?(a) Marshall (b) Robbins (c) Adam Smith (d) J.K. Mehta |
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Answer» (c) Adam Smith |
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| 18. |
Production function is expressed as :(a) Qx = PX (b) QX = f (A, B, C,D) (c) Qx = DX (d) None of these |
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Answer» (b) QX = f (A, B, C,D) |
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| 19. |
What are the advantage of Barter System ? (A) Simple system (B) More mutual co-operation (C) No Economic Disparties (D) All of above |
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Answer» (D) All of above |
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| 20. |
Following figure shows :(a) High Elastic Demand(b) Perfectly Elastic Demand(c) Perfectly Inelastic Demand(d) Inelastic Demand |
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Answer» (b) Perfectly Elastic Demand |
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| 21. |
Which one is a kind of exchange rate ? a. Fixed exchange rate b. Flexible exchange ratec. Both a and b d. None of the above |
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Answer» c. Both a and b |
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| 22. |
Point out the subject matter of economics. |
Answer»
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| 23. |
Which Economist divided Economics in two branches of micro & macro on the basis of economic activity ?(a) Marshall (b) Ricardo(b) Ragnar Frish (d) None of these |
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Answer» (d) None of these |
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| 24. |
Which is the correct order of money evolution ? (A) Commodity money, Paper money, Metal money (B) Commodity money, Metal money, Paper money, Credit money (C) Credit money, Metal money, Paper money (D) None of these |
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Answer» (B) Commodity money, Metal money, Paper money, Credit money |
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| 25. |
The forms of foreign exchange market is /are : a. Spot Market b. Forward Market c. Both a and b d. None of these |
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Answer» c. Both a and b |
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| 26. |
Deficit financing is an instrument of(a) Monetary policy (b) Credit policy (c) Fiscal policy (d) Tax policy |
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Answer» Deficit financing is an instrument of Fiscal policy. |
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| 27. |
Which of the following economic activities are included in the subject-matter of Economics ?(a) Economic Activities related to unlimited wants(b) Economic Activities related to Limited Resources(c) Both (a) and (b)(d) None of these |
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Answer» (c) Both (a) and (b) |
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| 28. |
Deposits accepted by the commercial banks - (A) Current Deposits (B) Saving Deposits (C) Time Deposits (D) All of these |
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Answer» (D) All of these |
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| 29. |
A closed economy is one which (a) Does not trade with other countries (b) Does not possess any means of international transport (c) Does not have a coastal line (d) Is not a member of the U.N.O. |
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Answer» A closed economy is one which Does not trade with other countries. |
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| 30. |
The full form of ATM is - (A) Any Time Money (B) All Time Money (C) Automated Teller Machine (D) Both A & B |
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Answer» (C) Automated Teller Machine |
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| 31. |
Which one is the item of Current Account ? (A) Import of Visible items (B) Expenses of Touris (C) Export of Visible items (D) All of these |
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Answer» (D) All of these |
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| 32. |
क्षाल और सूच् धातुरूपों को लिखें। |
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Answer» शुच् धातु रूप: मल्ल तैयार हो ये। मल्लों ने उस धातु का आठ भाग किया। सात भाग सात राजाओं को दिया तथा एक भाग अपने ले लिया। राजाओं ने उस धातु से सात स्तूप बनवाया। इस द्रोण प्रबंधन दल के सदस्य के रूप में पदोन्नत किया गया। साल के लिए स्काइप के बाद उन्हें गुम्त्री के प्रबंध निदेशक के रूप में काम किया। शुचि के विभिन्न कंपनियों है। |
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| 33. |
Bank rate is the rate of interest: (a) At which public borrows money from Commercial Banks (b) At which public borrows money from R.B.I. (c) At which Commercial Banks borrow money from R.B.I. (d) At which Commercial Banks borrow money from the public |
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Answer» Bank rate is the rate of interest At which Commercial Banks borrow money from R.B.I. |
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| 34. |
Which is the major objective or credit control ? (A) To maintain price stability (B) To stabilize exchange rate (C) To promote production and employment (D) All of the above |
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Answer» (D) All of the above |
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| 35. |
All existing and upcoming hotels within a 5 km radius of national parks and sanctuaries in India, will have to pay 30% of their annual turnover as tax to the government. Which of the following statements can be inferred from the facts/information givenin the above statement?A. The tax collected from the hotels will be used for the betterment of these national parks and sanctuaries.B. Hotels which are sponsored by the government will not have to pay any tax even if these are located within the 5 km radius of such wildlife hotspots.C. The ecosystem of the national parks and sanctuaries is adversely affected even if the hotels are located outside the 5 km radius.D. Government allows the construction of hotels within 5 km radius ofnational parks and sanctuaries. |
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Answer» Correct Answer - a This seems to be the only logic behind the imposition of tax in such specific areas. |
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| 36. |
Balance of Trade means - (A) Capital Transaction (B) Import & Export of Goods (C) Total Debit and Credit (D) All of these |
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Answer» (B) Import & Export of Goods |
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| 37. |
Operating Surplus arises in the(a) Government Sector (b) Production for self-consumption (c) Subsistence farming (d) Enterprise Sector |
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Answer» Operating Surplus arises in the Government Sector. |
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| 38. |
Which type of currency is issued by Central Bank ? (A) Currency notes (B) Credit money (C) Coins (D) All of the above |
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Answer» (A) Currency notes |
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| 39. |
What is economic activity ? |
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Answer» All economic activities arising out of unlimited wants and scarce maens are included in the subject matter of economics. According to the modern economics “ That activity is called economic activity which is related to the use of limited resources for satisfying unlimited human wants. “ All economic activities do not generate income i.e. it is not necessary that income must always be created through economic activities- Income may or may not be generated by performing economic activities. For example, consumption is an economic activity but income is not generated by consuming an article. |
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| 40. |
What is the duration of a Budget ?(a) Annual (b) Two Years (c) Five Years (d) Ten Years |
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Answer» Annual is the duration of a Budget. |
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| 41. |
Financial year in India is :(a) April 1 to March 31(b) January 1 to December 31(c) October 1 to September 30(d) None of the above |
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Answer» (a) April 1 to March 31 |
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| 42. |
What is a valance band? |
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Answer» The valence band is the band of electron orbitals that electrons can jump out of, moving into the conduction band when excited. The valence band is simply the outermost electron orbital of an atom of any specific material that electrons actually occupy. |
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| 43. |
Which of the following is an Indirect Tax ? (A) Excise Duty (B) Sales Tax (C) Custom Duty (D) All of the above |
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Answer» (D) All of the above |
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| 44. |
Which is a component of Budget Receipt ?(a) Revenue Receipt (b) Capital Receipt (c) Both a & b (d) None of the above |
| Answer» (c) Both a & b | |
| 45. |
Explain briefly three factors that lead to an economic problem. |
| Answer» (i) Scarcity of Resources:Resources (i.e. land, labour, capital, etc.) are limited in relation to their demand and economy cannot produce all what people want.It is the basic reason for existence of economic problems in all economies. Scarcity is universal and applies to all individuals, organisations and countries. There would have been no problem, if resources were not scarce.(ii) Unlimited Human Wants:Human wants are never ending, i.e. they can never be fully satisfied. As soon as one want is satisfied, another new want emerges. Wants of the people are unlimited and keep on multiplying and cannot be satisfied due to limited resources.Human wants also differ in priorities, i.e. all wants are not of equal intensity. For every individual, some wants are more important and urgent as compared to others. Due to this reason, people allocate their resources in order of preference to satisfy some of their wants. If all human wants had been of equal importance, then it would have become impossible to make choices.(iii) Alternate Uses:Resources are not only scarce, but they can also be put to various uses. It makes choice among resources more important. For example, petrol is used not only in vehicles, but also for running machines, generators, etc. As a result, economy has to make choice between the alternative uses of the given resources. | |
| 46. |
Which of the Following is not a Fixed Cost? A. Materials Costs B. General Production Costs C. Depreciation Costs D. Indirect Labour Costs |
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Answer» Materials Costs is not a Fixed Cost. |
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| 47. |
Which of the following can be used for checking inflation temporarily? (a) Increase in wages (b) Decrease in money supply (c) Decrease in taxes (d) None of these |
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Answer» (b) Decrease in money supply |
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| 48. |
In an economy, `S = -100 + 0.6Y` is the saving function, where S is saving and Y is National Income. If investment expenditure is 1100. Calculate. (i) Equilibrium level of National Income (ii) Consumption expenditure of equilibrium level of National Income |
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Answer» Saving function, `S = -100 + 0.6Y` Investment, `I = 1,100 Y`= National income (i) We know that `S = I` Given `S = - 100 + 0.6Y` `rArr I = - 100 + 0.6Y rArr 1,100 = - 100 + 0.6Y` `uarr rArr 1,200 = 0,6Y | Y = 1,200 xx (10)/(6) = 2,000` `:.` Equilibrium level of National Income, `Y = 2,000` (ii) `Y = C + I` `2,000 = C + I rArr C = 2,000 - 1,100 = 900` `:.` Consumption expenditure at equilibrium level = 900 |
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| 49. |
State any two central problems under problem of allocations of resources. |
| Answer» The problem of allocation of resources arises due to the scarcity of resources, and refers to the question of which wants should be satisfied and which should be left unsatisfied. In other words, what to produce and how much to produce. | |
| 50. |
Which is component of Budget Receipt ? (A) Revenue (B) Capital Reciept (C) Bothe (A) and (B) (D) None of the above |
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Answer» (C) Bothe (A) and (B) |
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