Indian Economy Questions

Q:

Which of the following is a risk taken by entrepreneurs in small business?

A) Interference with personal lives B) Psychological stress
C) Social and family pressure D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

Some of the risks faced by entrepreneur of small business are:-


1. Funding of capital.
2. Adequate cashflows.
3. Social and family pressures.
4. Interference with personal lives.
5. psychological pressure.
6.Lack of motivation

 

 

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Q:

The State Financial Corporations have given assistance mainly to develop___________.

A) agriculture farms B) cottage industries
C) medium and small-scale industries D) large scale industries
 
Answer & Explanation Answer: C) medium and small-scale industries

Explanation:
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Q:

An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y.

A) same B) higher
C) lower D) minimum
 
Answer & Explanation Answer: A) same

Explanation:
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Q:

In December 2017, Mid-Term Review of the Foreign Trade Policy (FTP) was released. The review announced how much percent increase each in incentive rates of
Merchandise Exports from India Scheme and Services Export from India Scheme?

A) 5% B) 10%
C) 2% D) 15%
 
Answer & Explanation Answer: C) 2%

Explanation:
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Q:

Calculate the economic profit for a firm if it's total revenues are Rs. 35 crores, explicit costs are Rs. 7 crores, and implicit costs are Rs. 10 crores.

A) Rs. 32 crores B) Rs. 52 crores
C) Rs. 18 crores D) Rs. 38 crores
 
Answer & Explanation Answer: C) Rs. 18 crores

Explanation:
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Q:

The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.

A) monotonic B) indifferent
C) market demand D) diminishing
 
Answer & Explanation Answer: C) market demand

Explanation:
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Q:

Which of the following gulf countries has announced to form new economic and partnership group named 'Joint Cooperation Committee' inDecember 2017?

A) UAE and Saudi Arabia B) Qatar and UAE
C) Bahrain and Kuwait D) Oman and Saudi Arabia
 
Answer & Explanation Answer: A) UAE and Saudi Arabia

Explanation:
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Q:

The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function.

A) Price B) Substitution
C) Supply D) Demand
 
Answer & Explanation Answer: D) Demand

Explanation:
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