Questions

Q:

If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called __________.

A) Law of demand B) Law of supply
C) Law of substitution D) Law of optimal choice
 
Answer & Explanation Answer: A) Law of demand

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Q:

_________ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

A) Law of diminishing marginal product B) Law of variable proportions
C) The Short Run D) The Long Run
 
Answer & Explanation Answer: B) Law of variable proportions

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Q:

A growing country is one with ___________ there.

A) rising GNP at constant prices B) rising GNP at current prices
C) constant GNP at constant prices D) No option is correct
 
Answer & Explanation Answer: A) rising GNP at constant prices

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Q:

The question below consists of a set of labelled sentences. Out of the four options given, select the most logical order of the sentences to form a coherent paragraph.


P- The aim must be to ensure that our country does not experience either paucity or a-surfeit of trained manpower in any specific segment of our economy.
Q- When we set about the task of higher education, we should be absolutely clear in our perception of the goals of education in the specific context of our nation’s
development.
R- No doubt, one of the important aims of education would be to create the required range and nature of trained manpower assessed to be needed by different
sectors of national growth.
S- The entire educational apparatus must be geared progressively to fulfill the requirements of different phases of our growth in every sector primary, secondary and
tertiary.

A) SQPR B) QRSP
C) SRQP D) PSQR
 
Answer & Explanation Answer: B) QRSP

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Q:

Article 21 of the Indian Constitution "Protection of life and personal liberty" deals with?

A) the Union Government B) the fundamental rights of the Indian Citizen
C) the State Government D) the directive principles of state policy
 
Answer & Explanation Answer: B) the fundamental rights of the Indian Citizen

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Q:

Which is the largest fresh water lake in the world?

A) Lake victoria B) Lake Erie
C) Lake Superior D) Lake Ontario
 
Answer & Explanation Answer: C) Lake Superior

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Q:

In which year was Facebook started?

A) 2002 B) 2004
C) 2008 D) 2009
 
Answer & Explanation Answer: B) 2004

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Q:

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.

 

an arm and a leg

 

A) a large, possibly exorbitant, amount of money B) a highly motivated person can succeed even with few resources
C) one loves a person so much that one is willing to sacrifice his most precious things for them D) all children are equal for a mother. She can't sacrifice anyone.
 
Answer & Explanation Answer: A) a large, possibly exorbitant, amount of money

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