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:

Which of following is true if the Government monetized part of its deficit?

A) Money supply in the economy will increase. B) Interest rate will increase.
C) Government revenue will decrease. D) Government expenditure will increase.
 
Answer & Explanation Answer: A) Money supply in the economy will increase.

Explanation:
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Q:

Osteoporosis is the disease related to

A) Spinal cord B) Heart
C) Kidneys D) Lungs
 
Answer & Explanation Answer: A) Spinal cord

Explanation:
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Q:

Which of the following is a good source of Vitamin A?

A) Cabbage B) Carrot
C) Regular Potato D) Strawberry
 
Answer & Explanation Answer: B) Carrot

Explanation:
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Q:

In which of the following mentioned activities is the potential energy (P.E) converted into kinetic energy(K.E)?

A) The explosion of a fire cracker B) The switching on of a torch
C) The switching off of a torch D) The swinging of a pendulum
 
Answer & Explanation Answer: D) The swinging of a pendulum

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.


The woodpeckers of the West (with one exception) are different _______________ those of the East, and so are the flycatchers, the grosbeaks, the orioles, the tanagers, the humming-birds, _____________ many of the sparrows. ____________ of the purple and bronzed grackles (the latter are _______________ seen on the plains of Colorado, but are not common), the Rockies boast of Brewer's blackbird, ______________ habits are not as prosaic as his name would indicate.

West (with one exception) are different _______________ those of the East

A) for B) from
C) of D) to
 
Answer & Explanation Answer: B) from

Explanation:
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Q:

In the following question the 1st and the last part of the sentence/passage are numbered 1 and 6. The rest of the sentence/ passage is split into four parts and named P, Q, R and S. These four parts are not given in their proper order. Read the sentence/passage and find out which of the four combinations is correct.

 

1. I can't stand here and promise that your future path is going to be wonderful.
P. Whatever one feels like doing today is set up as moral.
Q. People don't even pretend to care about what is right.
R. Instead, it might be very difficult, because our time is different than some other eras in human history.
S. If you look around, you can see that, little by little, it is a path leading to our destruction.
6. I am afraid that this legacy of freedom is facing an uncertain future.

 

A) PSRQ B) RQPS
C) QSRP D) PQRS
 
Answer & Explanation Answer: B) RQPS

Explanation:
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