Questions

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’.

 

A business venture or one’s own personal life has greater chances (1)/ of experiencing success and fulfillment, (2)/ if the outlook is more temperate to indifferent or radical. (3)/ No error (4)

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: C) 3

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Filed Under: English
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Q:

Which Indian industrialist who was elected as the Chairman of the International Chamber of Commerce (ICC) in 2016 ?

A) Anil Ambani B) Sunil Mittal
C) Mukesh Ambani D) Lakshmi Mittal
 
Answer & Explanation Answer: B) Sunil Mittal

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Filed Under: General Awareness
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Q:

Who is the author of the book titled "Walking With The Comrades"?

A) Shashi Tharoor B) Arundhati Roy
C) Ramchandra Guha D) Anuradha Roy
 
Answer & Explanation Answer: B) Arundhati Roy

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Filed Under: Books and Authors
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Q:

For each perfectly competitive firm in the long run

A) price = marginal costs = average variable costs B) price = average profit
C) price = marginal costs = minimum average total costs D) price = minimum average variable costs
 
Answer & Explanation Answer: C) price = marginal costs = minimum average total costs

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Q:

The law of demand states that

A) if the price of a good increases, the demand for that good decreases. B) if the price of a good increases, the the demand for that good increases.
C) if the price of a good increases, the quantity demanded of that good decreases. D) if the price of a good increases, the quantity demanded of that good increases.
 
Answer & Explanation Answer: C) if the price of a good increases, the quantity demanded of that good decreases.

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Q:

The demand for a normal good decreases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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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:

_________ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

A) Law of diminishing marginal product B) Law of variable proportions
C) The Short Run D) The Long Run
 
Answer & Explanation Answer: B) Law of variable proportions

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