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Q:

Which of the following is an example of market failure?

A) Prices do not reflect the full social cost of production B) A firm goes out of business because it cannot find a market for its products
C) Prices rise so that the consumers cannot afford the products they want to buy D) Producer surplus is maximized
 
Answer & Explanation Answer: A) Prices do not reflect the full social cost of production

Explanation:

Prices do not reflect the full social cost of production is an example of Market failure.

 

A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants.

It also occurs if externalities are not accounted for.

If a firm fails to maximize its profits this is not a general market failure.

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Filed Under: Marketing and Sales
Exam Prep: AIEEE , Bank Exams , CAT
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Q:

Statement: The air and rail services have been severely disrupted due to thick fog in the northern part of the country.
Courses of action:
a. The rail and air services should be temporarily suspended in the region.
b. People should be advised to make their travel plan keeping in mind the probable disruption resulting in delay or cancellation of services.
c. The government should immediately install modern machines which will enable itto guide the rail and air services even if the thick fog develops.

A) Only a follows B) a and b follows
C) Only b follows D) a, b & c follows
 
Answer & Explanation Answer: D) a, b & c follows

Explanation:

Keeping in mind the safety and convenience of passengers, both 'a' and 'b' follow. 'c' clearly suggests a remedy to the problem and hence it also follows.

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Filed Under: Statement and Courses of Action
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Q:

Which one of the following places did Mahatma Gandhi first start his Satyagraha in India?

A) Bardoli B) Ahmedabad
C) Kheda D) Champaran
 
Answer & Explanation Answer: D) Champaran

Explanation:

Mahatma Gandhi first start his Satyagraha from Champaran in India.

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Filed Under: Indian History
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Q:

Who is the current Union Minister of Railways in India 2019?

A) Amit Shah B) Arun Jaitley
C) Piyush Goyal D) Nitin Gadkari
 
Answer & Explanation Answer: C) Piyush Goyal

Explanation:

The current Union Minister of Railways in India 2019 is Piyush Goyal. He is also holding the Ministry of Finance for temporary.

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Filed Under: Indian Politics
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Q:

Daisy wheel printer is a type of

A) Impact printer B) Laser printer
C) Manual printer D) Matrix printer
 
Answer & Explanation Answer: A) Impact printer

Explanation:

A daisy-wheel printer works on the same principle as a ball-head typewriter. Daisy wheel printer is a type of impact printer invented in 1969.

Daisy_wheel_printer_is_a_type_of1557315359.jpg image

The daisy wheel is a disk made of plastic or metal on which characters stand out in relief along the outer edge. To print a character, the printer rotates the disk until the desired letter is facing the paper.

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Filed Under: General Science
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Q:

In how many different ways could couples be picked from 6 men and 9 women ?

A) 26 B) 54
C) 52 D) 28
 
Answer & Explanation Answer: B) 54

Explanation:

Number of mens = 8

Number of womens = 5

 

Different ways could couples be picked = C16× 9C1 = 9 x 6 = 54 ways.

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Filed Under: Permutations and Combinations
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Q:

Which state government to install 221-Metre Bronze Statue Of lordRam In Ayodhya?

A) Uttar Pradesh B) Gujarat
C) Uttarakhand D) Himachal Pradesh
 
Answer & Explanation Answer: A) Uttar Pradesh

Explanation:

Uttar Pradesh state government to install 221-Metre Bronze Statue Of lordRam In Ayodhya.

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Filed Under: Indian Geography
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Q:

Production costs to an economist

A) reflect opportunity costs B) consist only of explicit costs
C) always reflect monetary outlays D) never reflect monetary outlays
 
Answer & Explanation Answer: A) reflect opportunity costs

Explanation:

Production costs to an economist reflect opportunity costs.

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Filed Under: Indian Economy
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