Questions

Q:

If price of an article decreases from Rs 800 to Rs 700, quantity demanded increases from Q1 units to 70 units. If point elasticity of demand is -1.333 find Q1?

A) 80 units B) 90 units
C) 60 units D) 50 units
 
Answer & Explanation Answer: C) 60 units

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Q:

If quantity of a good demanded increases from 200 to 250 then the average income of the population increases from Rs 20,000 to Rs 30,000, find Arc Income elasticity of demand?

A) 1.45 B) 0.55
C) 2 D)  1.25
 
Answer & Explanation Answer: B) 0.55

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Q:

Prohibition of discrimination on grounds of religion, race, caste, sex or place of birth comes under which category of Fundamental Rights in Indian Constitution?

 

A) Right to Freedom B) Right to Constitutional Remedies
C) Right to Equality D) Right to Freedom of Religion
 
Answer & Explanation Answer: C) Right to Equality

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Q:

What is the basic unit of classification in taxonomy?

A) Genus B) Species
C) Family D) Order
 
Answer & Explanation Answer: B) Species

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Q:

In October 2017, who launched ‘Sampoorna Bima Gram (SBG) Yojana’, which aims to expand the clientele base of postal life Insurance?

 

A) Manoj Sinha B) Jayant Sinha
C) Arun Jaitley D) Suresh Prabhu
 
Answer & Explanation Answer: A) Manoj Sinha

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Q:

Who won majority of the men's singles tennis grand slam tournaments in 2015?

A) Andy Murray B) Novak Djokovic
C) Roger Federer D) Stanislas Wawrinka
 
Answer & Explanation Answer: B) Novak Djokovic

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Q:

In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement".

 

Data of seizure of tiger body parts reveal that of the 14 cases, five (was reported) inside the reserves.

 

A) was reports   B)  were reported  
C)  is reported   D) no improvement
 
Answer & Explanation Answer: B)  were reported  

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Q:

___________ is an alternative way of representing the production function.

A) The Short Run B) The Long Run
C) Isoquant D) Average product
 
Answer & Explanation Answer: C) Isoquant

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