Indian Economy Questions Practice Question and Answer
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Q: Diamonds are priced higher than water because–
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60123fc3178b94051cee4ac7- 1consumers do not buy them at lower prices.false
- 2they are sold by selected firms with monopolistic powers.true
- 3their total utility to buyers is higher than that of water.false
- 4their marginal utility to buyers is higher than that of waterfalse
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Answer : 2. "they are sold by selected firms with monopolistic powers."
Q: Externality theory is the basic theory of the following branch of Economics–
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60123f07178b94051cee4942- 1International Economicsfalse
- 2Environomicstrue
- 3Fiscal Economicsfalse
- 4Macro Economicsfalse
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Answer : 2. "Environomics"
Q: Which factor is mainly responsible for increase in demand of natural resources?
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5ff5826a9552896910b446b9- 1Scientific advancementfalse
- 2Use of biodegradable chemicalsfalse
- 3Increasing human populationtrue
- 4Environmental pollutionfalse
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Answer : 3. "Increasing human population"
Q: The Micro, Small and Medium Enterprises Development Act was passed in the year ____.
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5fe2e3034c864b4aa0e43f83- 12002false
- 22006true
- 32004false
- 42008false
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Answer : 2. "2006"
Q: Raw materials and money in hand are called _____.
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5fe1db7ace32c8585c749764- 1Human capitalfalse
- 2Working capitaltrue
- 3Factors of productionfalse
- 4None of the abovefalse
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Answer : 2. "Working capital"
Q: ___________ unemployment happens when people are not able to find jobs during some months of the year.
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5fe1d91492210049c5b1ff90- 1Disguisedfalse
- 2Educatedfalse
- 3Seasonaltrue
- 4None of the abovefalse
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Answer : 3. "Seasonal"
Q: In which account will the expenditure on the installation of new machinery be disbursed?
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5fb7b371e7381019a0b886e8- 1Cash accountfalse
- 2Machinery Accounttrue
- 3Profit or lossfalse
- 4Installation expense accountfalse
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Answer : 2. "Machinery Account"
Q: A discount given for the purpose of increasing sales is called-
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5fb7b2d0e7381019a0b88695- 1Commercial leavetrue
- 2Cash discountfalse
- 3Discount receivedfalse
- 4None of thesefalse
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Answer : 1. "Commercial leave"
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