Q:

Match the characteristics with their market structure:
(a) Firm has control over quantity of output but it must take into account reactions of competitors.
b) Firm will tend to set output so that it earns maximum profits.

A) (a) Oligopoly, (b) Pure competition	B) (a) Monopolistic competition, (b) Oligopoly
C) (a) Pure Monopoly, (b) Pure competition	D) (a) Oligopoly, (b) Pure Monopoly

Answer & Explanation Answer: D) (a) Oligopoly, (b) Pure Monopoly

Explanation:

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Q:

Which of the following is considered a "diversified" investment?

A) Index Fund	B) Mutual Fund
C) Both of these	D) Neither of these

Answer & Explanation Answer: C) Both of these

Explanation:

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Q:

The account receivable turnover measures

A) How often, on average receivables are received and collected during the period	B) How long it takes to sell accounts receivable to a factor
C) The relation of cash sales to credit sales	D) How long it takes to sell merchandise inventory

Answer & Explanation Answer: A) How often, on average receivables are received and collected during the period

Explanation:

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Q:

What does ‘J’ stand in ‘UJALA’ scheme being undertaken by the Energy Efficiency Services Limited (EESL)?

A) Jeevan	B) Jyoti
C) Jagriti	D) Jagran

Answer & Explanation Answer: B) Jyoti

Explanation:

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Q:

Which of the following countries became the first to withdraw from the International Criminal Court (ICC) with effect from 27 October, 2017?

A) Burundi	B) Syria
C) Russia	D) Ukraine

Answer & Explanation Answer: A) Burundi

Explanation:

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Q:

Which one of the following statements in respect of the States of India is not correct?

A) States in India cannot have their own Constitutions.	B) The State of Jammu and Kashmir has its own Constitution.
C) States in India do not have the right to secede from the Union of India.	D) The maximum number of members in the Council of Ministers of Delhi can be 15 percent of the total number of members in the Legislative Assembly.

Answer & Explanation Answer: B) The State of Jammu and Kashmir has its own Constitution.

Explanation:

There shall be a Council of Ministers consisting of not more than ten per cent (a special provision for Delhi as against the 15 percent clause under 91st Amendment Act)of the total number of members in the Legislative Assembly, with the Chief Minister at the head to aid and advise the Lieutenant Governor in the exercise of his functions in relation to matters with respect to which the Legislative Assembly has power to make laws.

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Q:

What is the present Personal Income Tax exemption limit for male individuals below 60 years of age & HUF (FY 2015-16)?

A) Rs. 2.5 lakhs	B) Rs. 3 lakhs
C) Rs. 1.5 lakhs	D) Rs. 4 lakhs

Answer & Explanation Answer: A) Rs. 2.5 lakhs

Explanation:

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Q:

Energy possessed by an object by its position or configuration is called

A) Kinetic energy	B) Nuclear energy
C) Potential energy	D) Electrical energy

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