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 Indian Economy Questions

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Q:

Which of the following is not a primary function of a bank?

A) Facilitating import of goods B) Remittance facility
C) Safe custody of articles D) Foreign Exchange
 
Answer & Explanation Answer: A) Facilitating import of goods

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1 1026
Q:

Amartya Sen was awarded the Nobel Prize for his contribution to 

A) Monetary Economics B) Welfare Economics
C) Environmental Economics D) Development Economics
 
Answer & Explanation Answer: B) Welfare Economics

Explanation:

Amartya   Sen,   Indian   economist who  was  awarded  the  1998  Nobel Prize  in  Economic  Sciences  for  his contributions  to  welfare  economics and social choice theory and for his interest    in    the    problems    of society's poorest members

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2 1020
Q:

What does indifference curve represent?

A) Levels of Income and Capital B) Satisfaction derived from two goods
C) Income from two businesses D) Relationship between expenditure and savings
 
Answer & Explanation Answer: B) Satisfaction derived from two goods

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Q:

Which of the following do economists consider to be capital?

A) a construction crane B) a savings account
C) a share of IBM stock D) a pair of stockings
 
Answer & Explanation Answer: A) a construction crane

Explanation:

In economics, there are four factors of production. They are :

1. Land

2. Labour

3. Capital

4. Organization

 

Here in the given options, a construction crane acts like capital.

 

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Q:

In which of the following market forms a firm does not exercise control over price?

A) Mixed Competition B) Monopoly
C) Oligopoly D) Perfect Competition
 
Answer & Explanation Answer: D) Perfect Competition

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Q:

India was ranked at which place among emerging economies on Inclusive Development Index (IDI-2018) released by World Economic Forum (WEF)?

 

A) 26th B) 47th
C) 62nd D) 81st
 
Answer & Explanation Answer: C) 62nd

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1 1010
Q:

A recurring theme in economics is that people:

A) Can increase resources by limiting their economic wants B) Have unlimited resources, but limited economic wants
C) Have unlimited economic wants, but limited resources D) Have limited economic wants and limited resources
 
Answer & Explanation Answer: C) Have unlimited economic wants, but limited resources

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Exam Prep: Bank Exams , CAT

1 1004
Q:

Money market is a market for _______________

A) Short term fund B) Long term fund
C) Negotiable instruments D) Sale of shares
 
Answer & Explanation Answer: A) Short term fund

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