Questions

Q:

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

A) Law of demand B) Substitution effect
C) Problem of choice D) Optimal choice
 
Answer & Explanation Answer: B) Substitution effect

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Q:

Which of the following sets of taxes belongs to Central Government?

A) Excise duty, Sales tax and Custom duty B) Income tax, Custom duty and House tax
C) Excise duty, Custom duty and Income tax D) Custom duty, Entertainment tax and Income tax
 
Answer & Explanation Answer: C) Excise duty, Custom duty and Income tax

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Q:

Bilateral monopoly situation is

A) when there are only two sellers of a product B) when there are only two buyers of a product
C) when there is only one buyer and one seller of a product D) when there are two buyers and two sellers of a product
 
Answer & Explanation Answer: C) when there is only one buyer and one seller of a product

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Q:

In general, elasticity is a measure of

A) how firms' profits respond to changes in market prices.  B) the extent to which advances in technology are adopted by producers.
C) how much buyers and sellers respond to changes in market conditions. D) the extent to which a market is competitive. 
 
Answer & Explanation Answer: C) how much buyers and sellers respond to changes in market conditions.

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Q:

The famous Golconda Fort is situated in the state of

A) Madhya Pradesh B) Telangana
C) Karnataka D) Bihar
 
Answer & Explanation Answer: B) Telangana

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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 generation gap is another of those characteristic features that set Homo sapiens apart from other animals. It is ______ if ever the most intelligent of apes ever blamed its juniors for their ______ ways! Over the years people have tried to analyse it, explain it, understand it, even ignore it, but it remains, ready to ______ each generation as it tries to ______ its own ______ about life and living.

It is ______ if ever the most intelligent

A) doubtful B) certain
C) sure D) classified
 
Answer & Explanation Answer: A) doubtful

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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.


But what does this enthusiasm for voting actually _____________? One popular theory ____________ that poor people __________ because they are intimidated into doing so. Intimidation occurs for sure but why then, voters in places where there is no intimidation do so? Another theory is that people vote in return for _____________. But recent research across India _________ that those who spend the most do not always win elections and voters do not feel any obligation to vote for those handing out freebies. In fact, they often accept the goodies from allparties but vote for only one.


But recent research across India _________ that those who spend the most do not always win elections

A) show B) has shown
C) had shown D) showed
 
Answer & Explanation Answer: B) has shown

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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'.

 

They will (A)/ leave the office at six and (B)/ reach at home by seven. (C)/ No error (D)

 

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

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