Q:

If a perfectly competitive firm can increase its profits by increasing its output, then that firm's product's _____.

A) price exceeds its marginal costs	B) price exceeds its average total costs
C) average variable costs exceed its average total costs	D) fixed costs are zero

Answer & Explanation Answer: A) price exceeds its marginal costs

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Filed Under: Indian Economy
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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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Filed Under: Indian Economy
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Q:

How many union territories does India have as of June 2017?

A) 7	B) 6
C) 5	D) 4

Answer & Explanation Answer: A) 7

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Filed Under: Indian Geography
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Q:

Which of the following scientists gave the law that governs the force of attraction/repulsion between two charged particles?

A) Charles Dufay	B) Michael Faraday
C) Archimedes	D) Charles Coulomb

Answer & Explanation Answer: D) Charles Coulomb

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Filed Under: Chemistry
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Q:

In 1528, __________ defeated the Rajputs at Chanderi.

A) Humayun	B) Akbar
C) Jahangir	D) Babur

Answer & Explanation Answer: D) Babur

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Filed Under: Indian History
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Q:

Who is the current supreme commander of Indian Defense forces?

A) Narendra Modi	B) Sumitra Mahajan
C) Pranab Mukherjee	D) Lt. Gen Dalbir Singh

Answer & Explanation Answer: C) Pranab Mukherjee

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Filed Under: Indian Politics
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Q:

Mechanical energy is the sum of

A) kinetic energy + heat energy	B) kinetic energy + potential energy
C) potential energy + heat energy	D) chemical energy + electrical energy

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