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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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

In the following question, out of the given four alternatives, select the one which is opposite in meaning of the given word.

Abutting

A) Touching	B) Far
C) Bordering	D) Joining

Answer & Explanation Answer: B) Far

Explanation:

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Filed Under: English
Exam Prep: Bank Exams

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Q:

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

A picture paints a thousand words

A) An image of a subject conveys its meaning more effectively than a description does.	B) No words can do justice to a masterpiece.
C) A great poem or script recreates a complete imagery.	D) Your mind will create fanciful images based on the information that it gets.

Answer & Explanation Answer: A) An image of a subject conveys its meaning more effectively than a description does.

Explanation:

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Filed Under: English
Exam Prep: Bank Exams

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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.

Many persons of good education unconsciously circumscribe themselves ___________ a small vocabulary. They have a knowledge of hundreds of desirable wordswhich they do not put _________ practical use in their speech or writing. Many, too, are conscious __________ a poverty of language, which engenders in them a senseof timidity and self-___________. The method used for building a large vocabulary has __________ been confined to the study of single words.

do not put _________ practical use in their

A) inside	B) inner
C) onto	D) into

Answer & Explanation Answer: D) into

Explanation:

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Filed Under: English
Exam Prep: Bank Exams , GRE , TOEFL

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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.

Worldwide, journalism and the news industry are struggling, in this digital age, to ________________ their relevance and value under profoundly changed and _________________ circumstances. In response ________________ the challenge, a strong view is forming within the profession that one way to ensure that the activities that __________________ journalism will continue to matter is to hone, strengthen, and develop its professional capabilities to perform certain __________________ tasks.

In response ________________ the challenge

A) to	B) of
C) for	D) about

Answer & Explanation Answer: A) to

Explanation:

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Q:

Which Indian-American is the chairman of the prestigious Federal Communications Commission (FCC) of the United States as of March 2018?

A) Neomi Rao	B) Seema Verma
C) Ajit Pai	D) Neil Chatterjee

Answer & Explanation Answer: C) Ajit Pai

Explanation:

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Filed Under: Famous Personalities
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Q:

Who among the following is known as the Father of Civil Services in India?

A) Lord Cornwallis	B) Warren Hastings
C) Lord Wellesley	D) Lord William Bentinck

Answer & Explanation Answer: A) Lord Cornwallis

Explanation:

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Q:

One of the earliest explorers who visited India was Megasthenes. Which country did he hail from?

A) Spain	B) Italy
C) Greece	D) Egypt

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