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Q:

The law of demand states that

A) if the price of a good increases, the demand for that good decreases. B) if the price of a good increases, the the demand for that good increases.
C) if the price of a good increases, the quantity demanded of that good decreases. D) if the price of a good increases, the quantity demanded of that good increases.
 
Answer & Explanation Answer: C) if the price of a good increases, the quantity demanded of that good decreases.

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Q:

An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y.

A) same B) higher
C) lower D) minimum
 
Answer & Explanation Answer: A) same

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Q:

The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?

A) Macroeconomics B) Econometrics
C) Microeconomics D) Heterodox Economics
 
Answer & Explanation Answer: C) Microeconomics

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Q:

What is the name of the castle that was built in honour of world renowned composer Richard Wagner?

A) Balmoral Castle B) Neuschwanstein Castle
C) Conwy Castle D) Kronborg
 
Answer & Explanation Answer: B) Neuschwanstein Castle

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Q:

Which of the following insecticides' harmful effects came under media attention when health issues in Kerala were publicized?

A) Endosulfan B) Lethal
C) Thimet D) Monocil
 
Answer & Explanation Answer: A) Endosulfan

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Q:

Article 39A of the Indian Constitution "Equal justice and free legal aid" deals with?

A) the State Government B) the directive principles of state policy
C) the Union Government D) the fundamental rights of the Indian Citizen
 
Answer & Explanation Answer: B) the directive principles of state policy

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Q:

Who replaced B.S. Bassi as the Delhi Police Commissioner?

A) Alok Kumar Verma B) Rakesh Maria
C) Dattatray Padsalgikar D) Neeraj Kumar
 
Answer & Explanation Answer: A) Alok Kumar Verma

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Q:

When was the ASLV used in India for the first time?

A) 1980 B) 1987
C) 1994 D) 2000
 
Answer & Explanation Answer: B) 1987

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