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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:

Calculate a country's GDP if for the year, consumer spending is $900 million, government spending is $250 million, investment by businesses is $180 million, exports are $85 million and imports are $100 million.

A) $1345 million B) $1315 million
C) $955 million D) $815 million
 
Answer & Explanation Answer: B) $1315 million

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Q:

Under GST regime, in ‘Composition Scheme’, taxpayers have to fill returns ______.

A) Monthly B) Half-yearly
C) Quarterly D) Bi-Monthly
 
Answer & Explanation Answer: C) Quarterly

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Q:

Which is the form of market where there is lack of competition?

A) Monopoly B) Oligopoly
C) Perfect competition D) Marketisation
 
Answer & Explanation Answer: A) Monopoly

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Q:

Which one of the following statements is not correct?

A) When total utility is maximum, marginal utility is zero B) When total utility is decreasing, marginal utility is negative
C) When total utility is increasing, marginal utility is positive D) When total utility is maximum,marginal and average utility are equal to each other.
 
Answer & Explanation Answer: D) When total utility is maximum,marginal and average utility are equal to each other.

Explanation:

Total utility -It is total psychological satisfaction which a consumer derives from the consumption of a commodity is known as total utility

Marginal utility -It is anaddition made in total utility by consuming and additional unit of a commodity is known as marginal utility.

•When marginal utility is positive,total utility increases

•When marginal utility is zero,total utility is at maximum

•When marginal utility is negative,total utility decreases

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Q:

Which of the following part of plant cell, is selectively permeable?

A) Cell wall B) Cell membrane
C) Cytoplasm D) Nucleus
 
Answer & Explanation Answer: B) Cell membrane

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Q:

The study of Cells is also known as

A) Cytology B) Physiology
C) Nucleology D) Cellology
 
Answer & Explanation Answer: A) Cytology

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Q:

What is organic matter in soil is also called

A) residue B) humus
C) occlusion D) compact
 
Answer & Explanation Answer: B) humus

Explanation:

In soil, organic matter consists of plant and animal material that is in the process of decomposing. When it has fully decomposed it is called humus. Soil organic matter serves as a reservoir of nutrients for crops, provides soil aggregation, increases nutrient exchange, retains moisture, reduces compaction,... 

This humus is important for soil structure because it holds individual mineral particles together in clusters.

 

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