Questions

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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Q:

In April 2017, Agriculture Ministry Unveiled Model APMC Act. The new Act proposes to put a Cap on Mandi taxes at what rate (in percent) for food grain?

A) 5 B) 1
C) 2.5 D) 8
 
Answer & Explanation Answer: B) 1

Explanation:
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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.

 

Left to itself, then, attention _____________ obeys natural laws and follows the line of least resistance. _______________ far the larger portion of our attention is of this type. Thought often runs on hour after hour when we are neither conscious of effort _____________ struggle to compel us to cease thinking about this thing and begin thinking about _________. Indeed, it may be doubted ___________ this is not the case with some persons for days at a time, instead of hours. The things that present themselves to the mind are the things which occupy it; the character of the thought is determined by the character of our interests.

 

least resistance. _______________ far the larger portion

 

A) By   B) with  
C) Along   D) Such
 
Answer & Explanation Answer: A) By  

Explanation:
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Q:

Which Part of Indian Constitution contains Article 368 that gives power to the Parliament to do constitutional amendments?

 

A) Part XX   B) Part VII
C) Part XXII   D) Part IX
 
Answer & Explanation Answer: A) Part XX  

Explanation:
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Q:

Which of the following languages was not included in the 8th schedule of Indian Constitution through 92nd amendment act?

A) Maithili B) Bodo
C) Santhali D) Kannada
 
Answer & Explanation Answer: D) Kannada

Explanation:
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Q:

In the following question, four groups of three numbers are given. In each group the second and third number are related to the first number by aLogic/Rule/Relation. Three are similar on basis of same Logic/Rule/Relation. Select the odd one out from the given alternatives.

A) (61, 64, 71) B) (57, 60, 69)
C) (75, 78, 85) D) (89, 92, 99)
 
Answer & Explanation Answer: B) (57, 60, 69)

Explanation:
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Q:

In the following question, out of the given four alternatives, select the one which best expresses the meaning of the given word.


Jubilant

 

 

A) Happy   B) Aggressive
C) Ancient   D) Defeat
 
Answer & Explanation Answer: A) Happy  

Explanation:
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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If
a sentence is free from error, select 'No Error'.


From the perspective of positive psychology, mental (1)/ health may include an individual's ability to create a balance (2)/ between life activities and efforts to
achieve psychology resilience. (3)/ No error (4)

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: C) 3

Explanation:
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