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Q:

In economics, if a good is inelastic,

A) its supply or demand is not sensitive to price changes. B) consumers have lost an interest in purchasing it.
C) producers have lost an interest in manufacturing it. D) its supply or demand is too sensitive to price changes.
 
Answer & Explanation Answer: A) its supply or demand is not sensitive to price changes.

Explanation:

If the percent change in quantity demanded is less than the percent change in price, economists label the demand for the good as inelastic.

A good that is inelastic does not have very stretchy demand. In economic terms, the quantity demanded does not change a lot when the price changes.

 

So, if the price of a good increases by 10 percent and the quantity demanded decreases by only 5 percent or less than 10, that good is said to have inelastic demand.

 

Hence, in this case, consumers are not considered very sensitive, or responsive, to a change in the price of that good.

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Filed Under: Indian Economy
Exam Prep: CAT , Bank Exams , AIEEE
Job Role: Bank PO , Bank Clerk , Analyst

Q:

Effective teamwork and high productivity are good indications of positive

A) productivity goals B) reinforcement
C) horizontal relationships D) socializing
 
Answer & Explanation Answer: A) productivity goals

Explanation:

In general, we know that Effective teamwork yields high productivity which is a good indications of positive productivity goals.

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Filed Under: Manufacturing
Exam Prep: AIEEE , Bank Exams , CAT
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Q:

With an average speed of 40 km/hr, a train reaches its destination in time. If it goes with an average speed of 35 km/hr, it is late by 15 minutes. Find the length of the total journey?

A) 70 kms B) 60 kms
C) 45 kms D) 30 kms
 
Answer & Explanation Answer: A) 70 kms

Explanation:

Let the time taken by train be 't' hrs.

Then,

40t = 35t + 1560

40t = 35t + 35/4

t = 7/4 hrs

Therefore, Required length of the total journey d = s x t

= 40 x 7/4

= 70 kms.

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Filed Under: Time and Distance
Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
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Q:

To buy goods on credit means to

A) promise to pay for goods later. B) pay only a discount price.
C) promise to pay only a sale price. D) pay cash for goods.
 
Answer & Explanation Answer: A) promise to pay for goods later.

Explanation:

If as a business, you buy goods or services on credit from a supplier (accounts payable) then the supplier will supply the goods and business will incur a liability to the supplier for that amount, but no cash will change hands at that stage.

Some of those shop keepers allowed regular "trustworthy" customers to purchase items without having the full payment.

Hence, Buying on credit means that no actual money has changed hands.

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Filed Under: General Awareness
Exam Prep: AIEEE , Bank Exams , CAT
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Q:

Who has launched a survey on the NaMo App, asking people to rate the performance of the government at the Centre and MPs and MLAs in their constituencies recently?

A) Home Minister Rajnath Singh B) HRD Minister Prakash Javadekar
C) Finance Minister Piyush Goyal D) Prime Minister Narendra Modi
 
Answer & Explanation Answer: D) Prime Minister Narendra Modi

Explanation:

Prime Minister Narendra Modi has launched a survey on the NaMo App, asking people to rate the performance of the government at the Centre and MPs and MLAs in their constituencies. He launched the initiative, to mark the completion of four years of the NDA government, which came to power at the Centre in 2014.

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Filed Under: General Awareness
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Q:

A doctor and a bus driver are both in love with the same woman, named Sana. The bus driver had to go on a long bus trip that would last a week. Before he left, he gave Sana seven apples.

 Why?

Answer

We know a proverb that An apple a day keeps the doctor away. To keep the doctor away from her, he gave seven apples, each apple a day.

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Subject: Logic Puzzles Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE , TOEFL
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Q:

When should you stop at green and go at red?

Answer

While eating a watermelon, we all go along the red and stops at green.

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Subject: Logic Puzzles Exam Prep: AIEEE , Bank Exams , CAT , GATE , GRE
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Q:

The main goal for farmers in 1900 was to

A) Force the railroads to lower freight rates B) Enable them to pay back their loans more easily
C) Hold on to political and economic power. D) voters greater direct participation in government
 
Answer & Explanation Answer: C) Hold on to political and economic power.

Explanation:
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Filed Under: Indian History
Exam Prep: AIEEE , Bank Exams
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