Questions

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.

Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers.

Selling a commodity at a price that is not more than that charged by competitors is -

Which of the following is indicated by the colour of a star ?

The BRICS New Development Bank (NDB) has been set up for

Who was the first President of the Indian National Congress?

Find the potential energy gained by a body of mass 50 kg, if it is raised by 10m. (use g = 10 m/s2)

Who is the winner of 2017 Formula One Bahrain Grand Prix?

'Ace Against Odds' is an autobiography of which sports person?

To which ganarajya Gautam Buddha belonged?