Questions

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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Q:

A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired then all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is _________.

A) Rs 1530 B) Rs 1050
C) Rs 50 D) Rs 1350
 
Answer & Explanation Answer: D) Rs 1350

Explanation:
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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

Arun's financial ______________ has helped him earn a fortune on the stock market.

A) dexterity B) readiness
C) expertise D) knack
 
Answer & Explanation Answer: C) expertise

Explanation:
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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.


The woodpeckers of the West (with one exception) are different _______________ those of the East, and so are the flycatchers, the grosbeaks, the orioles, the tanagers, the humming-birds, _____________ many of the sparrows. ____________ of the purple and bronzed grackles (the latter are _______________ seen on the plains of Colorado, but are not common), the Rockies boast of Brewer's blackbird, ______________ habits are not as prosaic as his name would indicate.

West (with one exception) are different _______________ those of the East

A) for B) from
C) of D) to
 
Answer & Explanation Answer: B) from

Explanation:
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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.

While language as the medium ___________ thought may be compared to air as the medium of the sun's influence, in other _____________ it is like the skin of the body; a scurvy skin shows bad blood within, and a scurvy language shows inaccurate thought ___________ a confused mind. And as a disease once fixed on the skin reacts and poisons the blood in turn as it has first been poisoned by the blood, so careless use of language __________ indulged reacts on the mind to make it permanently and increasingly _____________, illogical, and inaccurate in its thinking.

shows inaccurate thought ___________ a confused mind.

A) and B) but
C) so D) then
 
Answer & Explanation Answer: A) and

Explanation:
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Q:

In the following questions, one part of the sentence may have an error. Find out which part of the sentence has an error and click the button corresponding to it. If the sentence is free from error, click the "No error" option.

As if aware of my condition (A) / the infuriated bird suddenly doubled back on its course (B) / and charged straight after me (C) / No error (D)

A) A B) B
C) C D) D
 
Answer & Explanation Answer: C) C

Explanation:
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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.


And then, a few glorious minutes ______________, it was time to reluctantly head ashore. ____________ time, the strokes were more fluid, the movements more relaxed. I turned back one last time ____________ hello to a clown fish, the reason why I came to the Andamans. As I watched, it played hide-and-seek _________ a sea anemone, before frisking away. Suddenly, I realised a kinship with the blue waters ___________ the Bay of Bengal.


kinship with the blue waters ___________ the Bay of Bengal.

A) for B) from
C) to D) of
 
Answer & Explanation Answer: D) of

Explanation:
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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

 

To understand the nature of electromagnetic radiation, it is imperative that we grasp the _______ nature of light.

A) twice B) dual
C) double D) dichotomous
 
Answer & Explanation Answer: B) dual

Explanation:
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