Q:

In which of the following types of economy are the factors of production owned individually?

A) Capitalist	B) Socialist
C) Mixed	D) Both Capitalist and Socialist

Answer & Explanation Answer: A) Capitalist

Explanation:

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Q:

Which among the following does not count in the development expenditure of government?

A) Expenditure on economic services	B) Expenditure on social services
C) Grant to states	D) Defence expenditure

Answer & Explanation Answer: D) Defence expenditure

Explanation:

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Q:

At the equilibrium price

A) quantity demanded is equal to quantity supplied	B) quantity demanded is greater than quantity supplied
C) price elasticity of demand is unity	D) elasticity of demand equals elasticity of supply

Answer & Explanation Answer: A) quantity demanded is equal to quantity supplied

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Q:

Which of the following CANNOT be called a Debt instrument as referred in financial transactions?

A) Certificate of Deposits	B) Bonds
C) Stocks	D) Commercial Papers

Answer & Explanation Answer: C) Stocks

Explanation:

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Q:

Liabilities are generally classified on a balance sheet as

A) small liabilities and large liabilities	B) present liabilities and future liabilities
C) tangible liabilities and intagible liabilities	D) current liabilities and long-term liabilities

Answer & Explanation Answer: D) current liabilities and long-term liabilities

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Q:

If saving exceeds investment, the national income will ___________.

A) fall	B) fluctuate
C) remain constant	D) rise

Answer & Explanation Answer: C) remain constant

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Q:

Involuntary muscles are controlled by the

A) Central nervous system	B) Autonomic nervous system
C) Peripheral nervous system	D) All the above

Answer & Explanation Answer: B) Autonomic nervous system

Explanation:

Involuntary muscles are the muscles which contract without conscious control whereas Voluntary muscles are the muscles that help you walk, talk, pick up things, jump and do all the basic or complex movements you do everyday with your consciousness.

* The contraction in the involuntary muscles is controlled by the autonomic nervous system. These are present in the walls of the digestive system, blood vessels, bronchi, uterus and bladder.

* Voluntary muscles are mostly located in the arms ,legs ,hands, and feet.

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Q:

Sadir is a name of which ancient dance style of India?

A) kathak	B) Odissi
C) Bharatanatyam	D) Mohiniattam

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