Q:

The innovation theory of profit was proposed by

A) Marshall	B) Clark
C) Schumpeter	D) Joan Robbinson

Answer & Explanation Answer: C) Schumpeter

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Q:

Which of the following is done at a Stock Exchange ?

A) Commodities are bought and sold at wholesale price	B) Commodities are bought and sold at retail price
C) Securities are bought and sold	D) None of these

Answer & Explanation Answer: C) Securities are bought and sold

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Q:

In a market system, the central problems regarding how much and what to produce are solved through the coordination of economic activities brought about by ________ signals.

A) Supply	B) Demand
C) Price	D) Stock Market

Answer & Explanation Answer: C) Price

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Q:

In economic equilibrium _____

A) supply is equal to the demand.	B) the surplus is larger than the shortage.
C) elasticity of demand equals elasticity of supply	D) price elasticity of demand is unity

Answer & Explanation Answer: A) supply is equal to the demand.

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Q:

"Residex Index" is associated with which of these?

A) Share Prices	B) Mutual Fund Prices
C) Price Inflation Index	D) Housing Prices

Answer & Explanation Answer: D) Housing Prices

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Q:

In economics secondary effects refer to the

A) best alternative that must be forgone as the result of a choice.	B) immediate and visible intended consequences of a change.
C) impact of the scarcity of resources on the scarcity of the goods that are produced with those resources.	D) unintended consequences of a change that are not immediately identifiable but are felt only with time.

Answer & Explanation Answer: B) immediate and visible intended consequences of a change.

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Q:

In the following question, a sentence has been given in Active/Passive voice. Out of the four alternatives suggested, select the one which best
expresses the same sentence in Passive/Active voice.
The theatre was keeping a seat for you.

A) A seat was being kept for you by the theatre.	B) Keeping of a seat for you has been done by the theatre.
C) The theatre has kept a seat for you.	D) A seat would be kept for you by the theatre.

Answer & Explanation Answer: A) A seat was being kept for you by the theatre.

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Q:

___________ is a collection of architectural astronomical instruments, built by Maharaja Jai Singh II.

A) Jantar Mantar, Delhi	B) Group of Monuments at Hampi
C) Group of Monuments at Pattadakal	D) Nalanda, Bihar

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