Questions

Q:

If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called __________.

A) Law of demand B) Law of supply
C) Law of substitution D) Law of optimal choice
 
Answer & Explanation Answer: A) Law of demand

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Filed Under: Indian Economy
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Q:

­ Inflation exists when

A) there is general increase in the prices over time. B) there are periodic decreases in the price level.
C) there are continuous increases in the output level over time. D) there is rise in the purchasing value of money.
 
Answer & Explanation Answer: A) there is general increase in the prices over time.

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Q:

In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.

A) Monopsony B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: D) Monopolistic Competition

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Q:

The demand curve facing a perfectly competitive firm is

A) downward sloping B) perfectly inelastic
C) a concave curve D) perfectly elastic
 
Answer & Explanation Answer: D) perfectly elastic

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Q:

Metal oxides which react with acids as well as bases are called

A) Amphoteric oxides B) Neutral oxides
C) Basic oxides D) Acidic oxides
 
Answer & Explanation Answer: A) Amphoteric oxides

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Filed Under: Chemistry
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Q:

Who were the first among the following to establish trade relations with India?

A) Dutch B) French
C) English D) Portuguese
 
Answer & Explanation Answer: D) Portuguese

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Filed Under: Indian History
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Q:

Who replaced B.S. Bassi as the Delhi Police Commissioner?

A) Alok Kumar Verma B) Rakesh Maria
C) Dattatray Padsalgikar D) Neeraj Kumar
 
Answer & Explanation Answer: A) Alok Kumar Verma

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Filed Under: Indian Politics
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Q:

The G-20 Summit in November 2015 was organized in which European Country?

A) Germany B) Turkey
C) France D) Spain
 
Answer & Explanation Answer: B) Turkey

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Filed Under: General Awareness
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