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

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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

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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

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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:

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

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

Answer & Explanation Answer: C) Bharatanatyam

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Q:

Name the Russian chemist who stated that the properties of elements are a periodic function of their atomic masses?

A) Markovnikov	B) Zelinsky
C) Mendeleev	D) Zaitsev

Answer & Explanation Answer: C) Mendeleev

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Q:

Among the world oceans, which ocean is having the widest continental shelf ?

A) Antarctic ocean	B) Arctic Ocean
C) Indian Ocean	D) Atlantic ocean

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