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Q:

Which of the following statements is incorrect, if resources were unlimited?

A) there would still be scarcity and opportunity costs B) there would still be scarcity but no opportunity costs
C) there would be no scarcity, but there would be opportunity costs. D) there would neither be scarcity nor opportunity costs
 
Answer & Explanation Answer: C) there would be no scarcity, but there would be opportunity costs.

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Filed Under: Indian Economy
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Q:

Globalization of the economy has

A) decreased regional specialization of production B) decreased investment in less developed countries
C) heightened economic differences among places D) leveled economic differences between places
 
Answer & Explanation Answer: C) heightened economic differences among places

Explanation:

Economic globalization is the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital.

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Q:

___ is used as a stabilizer in ice cream.

A) Gelatin B) Sugar
C) Milk D) Strawberry
 
Answer & Explanation Answer: A) Gelatin

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Filed Under: Chemistry
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Q:

Which State in India has the highest forest cover?

A) Kerala B) Madhya Pradesh
C) Maharashtra D) Bihar
 
Answer & Explanation Answer: B) Madhya Pradesh

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Filed Under: Indian Geography
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Q:

What is the full form of GST?

A) Good and Services Tax B) Goods Sales Tax
C) Grand Sales Tax D) General Sales Tax
 
Answer & Explanation Answer: A) Good and Services Tax

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Q:

The speed of light in vacuum is estimated as ___ meters/second.

A) 3.00 x 108 B) 3.10 x 108
C) 3.12 x 108 D) 3.15 x 108
 
Answer & Explanation Answer: A) 3.00 x 108

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Filed Under: Physics
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Q:

Price elasticity of demand is generally

A) tends to be smaller in the short run than in the long run. B) tends to be smaller in the long run than in the short run.
C) tends to be unrelated to the length of time. D) tends to be larger in the short run than in the long run.
 
Answer & Explanation Answer: A) tends to be smaller in the short run than in the long run.

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Q:

Recession is ___________.

A) reduction in production and employment for want of sufficient demand for goods B) rise in the cost of production, especially because of wage increase
C) increase in money supply without a matching increase in production D) No option is correct
 
Answer & Explanation Answer: A) reduction in production and employment for want of sufficient demand for goods

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