Questions

Q:

Economics assumes that

A) people have unlimited desires but limited resources B) people have limited desires but unlimited resources
C) allocation of resources if not centrally planned will cause inefficiency D) people are emotional and make irrational decisions
 
Answer & Explanation Answer: A) people have unlimited desires but limited resources

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Q:

Reema wants to buy a certain designer party dress. The shop is offering a discount of 20% on that dress which is marked at Rs 5000. If Reema was willing to pay even Rs 7000 for that dress, Reema's consumer surplus is

A) Rs 3000 B) Rs 2000
C) Rs 1000 D) Rs 7000
 
Answer & Explanation Answer: A) Rs 3000

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Q:

In economic equilibrium _____

A) supply is equal to the demand. B) the surplus is larger than the shortage.
C) elasticity of demand equals elasticity of supply D) price elasticity of demand is unity
 
Answer & Explanation Answer: A) supply is equal to the demand.

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Q:

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.

She said,"We were thinking of selling the house but we had decided not to"

A) She said that they were thinking of selling the house but they decided not to. B) She said that they thought of selling the house but decided not to.
C) She said that they have been thinking of selling the house but decided not to. D) She said that they had been thinking of selling the house but had decided not to.
 
Answer & Explanation Answer: A) She said that they were thinking of selling the house but they decided not to.

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Q:

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.


True, It is the function of the army to maintain law and order in abnormal times. But in normal times there is another force that compels citizens to obey the laws and to act with due regard to the rights of others. The force also protects the lives and the properties of law abiding men. Laws are made to secure the personal safety of its subjects and to prevent murder and crimes of violence. They are made to secure the property of the citizens against theft and damage to protect the rights of communities and castes to carry out their customs and ceremonies, so long as they do not conflict with the rights of others. Now the good citizen, of his own free will obey these laws and he takes care that everything he does is done with due regard to the rights and well-being of others. But the bad citizen is only restrained from breaking these laws by fear of the consequence of his actions. And the necessary steps to compel the bad citizen to act as a good citizen are taken by this force. The supreme control of law and order in a State is in the hands of a Minister who is responsible to the State Assembly and acts through the Inspector General of Police.


Which of the following is not implied in the passage ?

A) Laws protect those who respect it. B) Laws ensure people's religious and social rights absolutely and unconditionally
C) A criminal is detered from committing crimes for fear of the law. D) The forces of law help to transform irresponsible citizens into responsible ones
 
Answer & Explanation Answer: B) Laws ensure people's religious and social rights absolutely and unconditionally

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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 scene will now shift to obtaining __________________ instruments of ratification to bring the agreement into force _________________ 2020, the first year of its________________ implementation. The agreement will enter into force with the ratification of ______________ 55 countries, whose aggregate greenhouse gas (GHG) emissions ________________ at least 55 per cent of global emissions.


The agreement will enter into force with the ratification of ______________ 55 countries

A) partially B) at least
C) slightly D) somewhat
 
Answer & Explanation Answer: B) at least

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Q:

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.

 

He said, "Do as you wish, but don't come and ask me for help if you get into difficulties."

 

A) He told me to do as he wished or he wouldn't come and help me if I got into difficulties. B) He told me to do as I wished, but not to go and ask him for help if I got into difficulties.
C) He ordered me to do as I wished, but not to go and ask him for help if I got into difficulties. D) He told me that unless I did as I wished he would not come and help me if I got into difficulties.
 
Answer & Explanation Answer: B) He told me to do as I wished, but not to go and ask him for help if I got into difficulties.

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Q:

Velocity of a car does not depend on

A) Speedometer B) Change in direction
C) Change in speed D) Change in acceleration
 
Answer & Explanation Answer: A) Speedometer

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