Questions

When the demand for a good increases with an increase in income, such a good is called_______

In April 2017, N. K. Singh Committee recommended a fiscal deficit of how much percent of GDP by Financial Year 2022-23?

Economic sanctions are mainly used to

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.

Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers.

Who, according to the economists, are the right group of people to set the price of a commodity?

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 and indicate it by selecting the appropriate option.

Time perception raises a number of ______ puzzles, including what it means to say we perceive time.

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

Ignorance is bliss

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.

To sell (stocks or other securities or commodities) in advance of acquiring them, with the aim of making a profit when the price falls.

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 and indicate it by selecting the appropriate option.

Boys and girls ________ enjoy playing with the building blocks.