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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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Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1104
Q:

An exculpatory clause is generally unenforceable when

A) it involves public transportation. B) it attempts to release a party from liability for ordinarily negligent behavior.
C) it is written clearly and in bold, large print. D) the affected activity is a recreational activity.
 
Answer & Explanation Answer: A) it involves public transportation.

Explanation:
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Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1104
Q:

ΔABC is right angled at B. BD is the altitude. AD is 8 cm and DC is 50 cm. What is the length of BD?

A) 25 cm B) 20 cm
C) 16 cm D) 15 cm
 
Answer & Explanation Answer: B) 20 cm

Explanation:
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Filed Under: Volume and Surface Area
Exam Prep: Bank Exams

0 1104
Q:

In the following figure, rectangle represents Authors, circle represents Food stylists, triangle represents Potters and square represents Cricketers. Which set of letters represents Authors who are either Food stylists or potters?

 

 

A) ACH   B) AC  
C) CH   D) C
 
Answer & Explanation Answer: A) ACH  

Explanation:
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Filed Under: Image Analysis
Exam Prep: Bank Exams

0 1104
Q:

In the question two statements are given, followed by two conclusions, I and II. You have to consider the statements to be true even if it seems to beat variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements.

 

Statement I: All threads are strings

 

Statement II: All fibres are threads

 

Conclusion I: All strings are fibres

 

Conclusion II: All fibres are strings

 

 

A) Only conclusion I follows B) Only conclusion II follows
C) Both conclusions I and II follow D) Neither conclusion I nor conclusion II follows
 
Answer & Explanation Answer: B) Only conclusion II follows

Explanation:
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Filed Under: Statement and Conclusions
Exam Prep: Bank Exams

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Q:

The pie chart shows the distribution of wealth between 7 children according to their father's will. Study the diagram and answer the following questions.

 

 

The measure of the central angle of the sector representing the share of wealth that D gets is ________ degrees.

 

A) 72 B) 60
C) 50 D) 75
 
Answer & Explanation Answer: A) 72

Explanation:
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Filed Under: Pie Charts
Exam Prep: Bank Exams

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Q:

Consider the given question and decide which of the following statements is sufficient to answer the question.

 

What is the value of 14$20*8#4?

 

Statements :

 

1. $ implies -, * implies +, # implies /

2. 14$20*8 = 25

 

 

A) Both statements 1 and 2 are sufficient B) Statement 1 alone is sufficient while statement 2 alone is insufficient
C) Neither statement 1 or 2 is sufficient D) Statement 2 alone is sufficient while statement
 
Answer & Explanation Answer: B) Statement 1 alone is sufficient while statement 2 alone is insufficient

Explanation:
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Filed Under: Statement and Conclusions
Exam Prep: Bank Exams

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Q:

Consider the given question and decide which of the following statements is sufficient to answer the question.

 

Five people P, Q, R, S and T, are standing in a line, who is in the middle?

 

Statements:

 

1. Q is to the left of T.

2. S is in between P and T.

 

A) 2 alone is sufficient while 1 alone is not sufficient to answer the given question B) 1 alone is sufficient while 2 alone is not sufficient to answer the given question
C) Neither 1 nor 2 is sufficient to answer the given question D) Both 1 and 2 are sufficient to answer the given question
 
Answer & Explanation Answer: C) Neither 1 nor 2 is sufficient to answer the given question

Explanation:
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Filed Under: Statement and Conclusions
Exam Prep: Bank Exams

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