Q:

Which one of the following is not an assumption in the law of demand?

A) There are no changes in the taste and preferences of consumers	B) Income of consumers remains constant
C) Consumers are affected by demonstration effect	D) There are no changes in the price of substitute goods.

Answer & Explanation Answer: C) Consumers are affected by demonstration effect

Explanation:

There are certain assumptions underlying the law of demand, which are as follows:

i. Assumes that the consumer’s income remains same

ii. Assumes that the preferences of consumer remain same.

iii. Considers that the fashion does not show any changes, because if fashion changes, then people would not purchase the products that are out of fashion.

iv. Assumes that there would be no change in the age structure, size, and sex ratio of population. This is because if population size increases, then the number of buyers increases, which, in turn, affect the demand for a product directly.

v. Restricts the innovation and new varieties of products in the market, which can affect the demand for the existing product.

vi. Restricts changes in the distribution of income.

vii. Avoids any type of change fiscal policies of the government of a nation, which reduces the effect of taxation on the demand of product.

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Filed Under: Indian Economy
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Q:

Which of the following is not an assumption of perfect competition?

A) There are many buyers and sellers	B) Average total costs continually decrease.
C) The good sold by all sellers in the market is assumed to be homogeneous.	D) Buyers and sellers in the market are assumed to have perfect information.

Answer & Explanation Answer: B) Average total costs continually decrease.

Explanation:

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Q:

In March 2016 National Green Tribunal imposed an initial compensation of Rs. 5 crore on ___ for tampering with the Yamuna river's flood plains.

A) Kalki Avatar Foundation	B) Art of Living Foundation
C) Emisaries of Divine Light	D) Sant Nirankari Mission

Answer & Explanation Answer: B) Art of Living Foundation

Explanation:

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Filed Under: General Awareness
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Q:

Which aircraft carrier was formally inducted into the Indian Navy by Prime Minister Narendra Modi in the year 2014?

A) INS Vikrant	B) INS Vikramaditya
C) INS Viraat	D) INS Chakra

Answer & Explanation Answer: B) INS Vikramaditya

Explanation:

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Q:

A body of mass 6 kg accelerates from 6 m/s to 18 m/s in 3 seconds due to the application of a force on it. Calculate the magnitude of this force (in N).

A) 48	B) 60
C) 24	D) 96

Answer & Explanation Answer: C) 24

Explanation:

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Filed Under: Physics
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Q:

What are transition elements?

A) Elements whose two outermost shells are incomplete	B) Elements which possess properties of both, metals and non-metals
C) They have eight electrons in the outermost shell	D) Elements whose three outermost shells are incomplete

Answer & Explanation Answer: A) Elements whose two outermost shells are incomplete

Explanation:

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Filed Under: Chemistry
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Q:

In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives.

In a dynamic society everything is provided for by law and only a few things are __________ to politicians. The universe is governed ________ law. The inverse square law __________ the earth in its orbit and the law of atomic fusion keeps the sun shining ________ the whole earth. Likewise, the law should govern a nation where the judge, the police and the civil servant dispense ___________ to the citizen.

servant dispense ___________ to the citizen.

A) justify	B) justly
C) justice	D) justifies

Answer & Explanation Answer: C) justice

Explanation:

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Filed Under: English
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Q:

With reference to Indian Defence, Arjun Mk1A is a

A) Main Battle Tank	B) Fighter jets
C) Unmanned Aerial Vehicle	D) Anti-tank Guided Missile

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