Questions

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.

Price-fixing is a phenomenon that is normal in -

In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one, which best express the same sentence in Indirect/Direct speech.

I said to my sister, "where were you this evening?"

The Indira Point, the southern point of India, is situated in the ___ tip of Great Nicobar Island.

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’.

The aroma of the invigorate morning cup of tea comes (1)/ wafting up the stairway and soon I am (2)/ sipping it slowly and reverentially without rushing. (3)/ No error (4)

National Income refers to ___________

Stagflation is a period of _______.

The marginal propensity to consume lies between ____________.

Which of the following is NOT considered as Amir Khusro's creation?