Questions

Q:

Which of the following e-commerce majors has signed an agreement with NIESBUD for encouraging SMEs to grow profitably online?

A) Amazon B) Flipkart
C) Snapdeal D) eBay
 
Answer & Explanation Answer: A) Amazon

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Q:

If quantity of good X demanded increases from 2300 to 2700 when price of good Y increases from Rs. 45 to Rs. 55, find Arc Cross elasticity of demand?

A) 4 B) 1.25
C) 0.25 D) 0.8
 
Answer & Explanation Answer: D) 0.8

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Q:

Calculate a country's GDP if for the year, consumer spending is $400 million, government spending is $150 million, investment by businesses is $80 million, exports are $35 million and imports are $40 million.

A) $625 million B) $465 million
C) $475 million D) $635 million
 
Answer & Explanation Answer: A) $625 million

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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:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: A) increase; increase

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Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.



Come in handy

 

A) Be that type of a person who loves to work with his hands B) Turn out to be useful.  
C) Always be ready to help strangers in need.   D)  Be always prepared for any kind of hardship.
 
Answer & Explanation Answer: B) Turn out to be useful.  

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Q:

Which Asian city hosted the 2017 Men's Hockey Asia Cup?

A) Dhaka B) Teheran
C) Tokyo D) Singapore
 
Answer & Explanation Answer: A) Dhaka

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Q:

The game of football is also referred to as ___.

A) Rugby B) Poker
C) Soccer D) Ping-Pong
 
Answer & Explanation Answer: C) Soccer

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