Questions

Q:

Which of the following is not an assumption of perfect competition?

A) There are many buyers and sellers B) Average total costs continually decrease.
C) The good sold by all sellers in the market is assumed to be homogeneous. D) Buyers and sellers in the market are assumed to have perfect information.
 
Answer & Explanation Answer: B) Average total costs continually decrease.

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Q:

In perfect competition _____.

A) Products can be similar or different B) Producer can control price by controlling production
C) Demand curve is perfectly elastic D) All firms make economic profit in the long run
 
Answer & Explanation Answer: C) Demand curve is perfectly elastic

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Q:

The demand curve _____.

A) shows that as the price of a good increases, demand for the good will increase B) shows that as the price of a good increases, demand for the good will decrease
C) has a positive gradient D) indicates that there is a direct relationship between quantity demanded and price
 
Answer & Explanation Answer: B) shows that as the price of a good increases, demand for the good will decrease

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

The reason is a fear that we will not ______________ find ourselves in that higher echelon of posts and achievements that get so many likes and reposts, a sign of success and ____________ in our binary outlook. A darker worry also exists at the back _______ our mind. What if we end __________ in the other group, an object of ridicule, derided as another in a long list of failures _________ embarrassments that go viral for all the wrong reasons?

 

we will not ______________ find ourselves in that

 

A) automatically B) automatic
C) automatical D) automation
 
Answer & Explanation Answer: A) automatically

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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

 

Indian corporates are _______________ influenced by the American style of management, including ______________ practices. The recent episodes in a couple of big and reputed corporates in India are prompting many to re-think the kind of compensation strategy that would be __________ for Indian corporates. Should it be more socialistic, as prevalent in Scandinavian, some European and Japanese companies? _______________ there be some law to govern the salary differentials? __________should different functions such as Finance be remunerated substantially higher for equivalent educational degree holders and similar efforts by individuals in other functions?

 

Japanese companies? _______________ there be some

 

 

A) Shall B) Will
C) Should D) What
 
Answer & Explanation Answer: C) Should

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Q:

In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement".

 

Environmental care (had slowly regressing) to the back of our daily requirements

 

A) is slowly regressing   B) were slowly regressing
C) are slowly regress D) no improvement
 
Answer & Explanation Answer: A) is slowly regressing  

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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

 

Your motivational speech(A)/has had the tremendous(B)/effect on my students.(C)/No error(D)

 

A) A B) B
C) C D) D
 
Answer & Explanation Answer: B) B

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Q:

In the following question, a sentence has been given in Active/Passive Voice. Out of the four alternatives suggested, select the one which best expresses the same sentence in Passive/Active Voice.

 

A police constable arrested the burglar just before dawn.

 

A) Just before dawn the burglar is arrested by a police constable. B) The burglar was arrested by a police constable just before dawn.
C) The burglar is arrested by a police constable just before dawn. D) A police constable was arrested by a burglar just before dawn.
 
Answer & Explanation Answer: B) The burglar was arrested by a police constable just before dawn.

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