Questions

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:

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:

The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.

A) monotonic B) indifferent
C) market demand D) diminishing
 
Answer & Explanation Answer: C) market demand

Explanation:
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Q:

In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one which best
expresses the same sentence in Indirect/Direct speech.
“Bring me my spectacles,” said grandfather to me.

A) Grandfather ordered me and brought him his spectacles. B) Grandfather ordered me to have brought to him his spectacles.
C) Grandfather ordered me to bring him his spectacles. D) Grandfather ordered myself to bring his spectacles to where he was.
 
Answer & Explanation Answer: C) Grandfather ordered me to bring him his spectacles.

Explanation:
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Q:

Which among the following is NOT same as reproduction?

A) Regeneration B) Budding
C) Vegetative Propagation   D) Spore formation  
 
Answer & Explanation Answer: A) Regeneration

Explanation:
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Filed Under: Biology
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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
 
Answer & Explanation Answer: A) 40°F and 140°F

Explanation:

Most bacteria will grow rapidly between 4°C and 60°C (40°F and 140°F).

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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".

 

People (have got so addict) to their virtual life that they forget there is more to life than just sitting in front of a plastic box.

 

A) have got so addicting B) has got so addicted
C) have got so addicted D) no improvement
 
Answer & Explanation Answer: C) have got so addicted

Explanation:
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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.

 

It is a proverbial ___________, that every one makes his own destiny; and __________ is usually interpreted, that every one, by his wise ______ unwise conduct, preparesgood or evil for himself: but we may also understand it, that whatever it be that he receives _________ the hand of Providence, he may so accommodate __________ toit, that he will find his lot good for him, however much may seem to others to be wanting.

 

It is a proverbial ___________, that every one makes

 

A) say B) said
C) saying D) says
 
Answer & Explanation Answer: C) saying

Explanation:
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