Questions

Q:

Which of the following is not an assumption of perfect competition?

A) There are many buyers and sellers B) Average total costs continually decrease.
C) The good sold by all sellers in the market is assumed to be homogeneous. D) Buyers and sellers in the market are assumed to have perfect information.
 
Answer & Explanation Answer: B) Average total costs continually decrease.

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Q:

In perfect competition _____.

A) Products can be similar or different B) Producer can control price by controlling production
C) Demand curve is perfectly elastic D) All firms make economic profit in the long run
 
Answer & Explanation Answer: C) Demand curve is perfectly elastic

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Q:

The demand curve _____.

A) shows that as the price of a good increases, demand for the good will increase B) shows that as the price of a good increases, demand for the good will decrease
C) has a positive gradient D) indicates that there is a direct relationship between quantity demanded and price
 
Answer & Explanation Answer: B) shows that as the price of a good increases, demand for the good will decrease

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Q:

If for the year a country's GDP was $990 million, consumer spending was $630 million, investment by businesses was $110 million, exports were $55 million and imports were $45 million, calculate government spending?

A) $260 million B) $240 million
C) $480 million D) $460 million
 
Answer & Explanation Answer: B) $240 million

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Q:

The question below consists of a set of labelled sentences. Out of the four options given, select the most logical order of the sentences to form a coherent paragraph.


P- The aim must be to ensure that our country does not experience either paucity or a-surfeit of trained manpower in any specific segment of our economy.
Q- When we set about the task of higher education, we should be absolutely clear in our perception of the goals of education in the specific context of our nation’s
development.
R- No doubt, one of the important aims of education would be to create the required range and nature of trained manpower assessed to be needed by different
sectors of national growth.
S- The entire educational apparatus must be geared progressively to fulfill the requirements of different phases of our growth in every sector primary, secondary and
tertiary.

A) SQPR B) QRSP
C) SRQP D) PSQR
 
Answer & Explanation Answer: B) QRSP

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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'.

 

He built the theatre as a tribute to his rootings (1)/ and the thought of it outlasting him, (2)/ would surely have given him the greatest joy. (3)/ No error. (4)

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: A) 1

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Q:

In the following question, sentence given with blank to be filled in with an appropriate word(s). Four alternatives are suggested for the question. Choose the correct alternative out of the four and indicate it by selecting the appropriate option.

 

The authorities would not ______ to the strikers' demands.

 

A) accept B) accede
C) accession D) access
 
Answer & Explanation Answer: B) accede

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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.

In view of last year's H1N1 attack and prevailing ________________ weather conditions, the health department officials _______________ that the virus will turn more active by January end. In-charge, Integrated Disease ________________ Programme (IDSP), Dr Shah, said, "Virus is still active, but not in a major way. In coming months, it is likely to become more active. Last year too, virus had claimed lives in January and February. Therefore, we are _____________ as coming months might _________________ a challenge."


In-charge, Integrated Disease ________________ Programme (IDSP)

A) management B) control
C) surveillance D) eradication
 
Answer & Explanation Answer: C) surveillance

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