Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four andindicate it by selecting the appropriate option.

The employee did not _____ to the argument of the manager.

A) precede	B) exceed
C) concede	D) recede

Answer & Explanation Answer: C) concede

Explanation:

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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 asentence is free from error, select 'No Error'.

Internet Service Providers (ISPs) should provide us (1)/ with open networks and should not block or discriminate for (2)/ any application or content that rides overthose networks. (3)/ No error (4)

A) 1	B) 2
C) 3	D) 4

Answer & Explanation Answer: B) 2

Explanation:

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Q:

Which one of the following is not an assumption in the law of demand?

A) There are no changes in the taste and preferences of consumers	B) Income of consumers remains constant
C) Consumers are affected by demonstration effect	D) There are no changes in the price of substitute goods.

Answer & Explanation Answer: C) Consumers are affected by demonstration effect

Explanation:

There are certain assumptions underlying the law of demand, which are as follows:

i. Assumes that the consumer’s income remains same

ii. Assumes that the preferences of consumer remain same.

iii. Considers that the fashion does not show any changes, because if fashion changes, then people would not purchase the products that are out of fashion.

iv. Assumes that there would be no change in the age structure, size, and sex ratio of population. This is because if population size increases, then the number of buyers increases, which, in turn, affect the demand for a product directly.

v. Restricts the innovation and new varieties of products in the market, which can affect the demand for the existing product.

vi. Restricts changes in the distribution of income.

vii. Avoids any type of change fiscal policies of the government of a nation, which reduces the effect of taxation on the demand of product.

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Q:

Rate of the growth of an economy is measured in terms of

A) National income	B) Monthly family income
C) Number of people who have been lifted above the poverty line	D) Industrial Development

Answer & Explanation Answer: A) National income

Explanation:

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Q:

Which of the following is done at a Stock Exchange ?

A) Commodities are bought and sold at wholesale price	B) Commodities are bought and sold at retail price
C) Securities are bought and sold	D) None of these

Answer & Explanation Answer: C) Securities are bought and sold

Explanation:

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Q:

The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function.

A) Price	B) Substitution
C) Supply	D) Demand

Answer & Explanation Answer: D) Demand

Explanation:

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Q:

Full employment is the level at which there is _____.

A) no frictional unemployment	B) no cyclical unemployment
C) no structural unemployment	D) no unemployment

Answer & Explanation Answer: B) no cyclical unemployment

Explanation:

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Q:

What temperature does bacteria grow quickest at

A) 40°F and 140°F	B) 14°C and 90°C
C) 80°F and 140°F	D) None

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