Questions

Q:

An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y.

A) same B) higher
C) lower D) minimum
 
Answer & Explanation Answer: A) same

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Q:

First time which year the Railway Budget and the General Budget were presented separately?

A) 1923 B) 1947
C) 1952 D) 1977
 
Answer & Explanation Answer: A) 1923

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Q:

Which of these countries got Independence from United Kingdom?

A) Uzbekistan B) India
C) Venezuela D) South Korea
 
Answer & Explanation Answer: B) India

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Q:

A beedi making workshop can hire 5 women by paying them Rs. 300 per day. The 6th woman demands Rs. 350 per day. If this woman is hired then all other women must be paid Rs. 350. The marginal resource (labour) cost of the 6th woman is

A) Rs. 600 B) Rs. 50
C) Rs. 300 D) Rs. 100
 
Answer & Explanation Answer: A) Rs. 600

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Q:

In which of the following types of economy are the factors of production owned individually?

A) Capitalist B) Socialist
C) Mixed D) Both Capitalist and Socialist
 
Answer & Explanation Answer: A) Capitalist

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Q:

__________ resources are those resources whose quantity is known.

A) Natural resources B) Actual resources
C) Potential resources D) Abiotic resources
 
Answer & Explanation Answer: B) Actual resources

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Q:

If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?

A) 9000 units B) 4500 units
C) 10500 units D) 6000 units
 
Answer & Explanation Answer: D) 6000 units

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Q:

Which of the following animal is not triploblastic?

A) Earthworm B) Ascaris
C) Jelly fish D) Planaria
 
Answer & Explanation Answer: C) Jelly fish

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