Questions

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:

A hand made paper workshop can hire 8 craftsmen by paying them Rs 400 per person per day. The 9th craftsman demands Rs 450 per day. If this craftsman is hired then all other craftsmen must be paid Rs 450. The marginal resource (labour) cost of the 9th craftsman is

A) Rs 50 B) Rs 850
C) Rs 800 D) Rs 100
 
Answer & Explanation Answer: B) Rs 850

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Q:

Which of the below options is called a laughing gas?

A) N2O B) CO2
C) H2O D) SO2
 
Answer & Explanation Answer: A) N2O

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Q:

Which one of the following is lyophilic colloid?

A) Gold sol B) Smoke
C) Cloud D) Starch aqueous solution
 
Answer & Explanation Answer: D) Starch aqueous solution

Explanation:

Starch aqueous solution is a lyophilic colloidal solution.

 

Lyophilic colloids are liquid loving colloids.  When these colloids are mixed with suitable liquid high force of attraction exists between colloidal particles and liquid.

 

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Q:

An alloy is an example of

A) Colloidal solution B) Emulsion
C) Solid solution D) Heterogenous mixture
 
Answer & Explanation Answer: C) Solid solution

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Q:

Birth rate in a country is defined as

A) Number of births per 100 in 1 year B) Number of births per 1000 in 1 year
C) Number of births per km of area in 1 year D) Number of births per 100 km of area in 1 year
 
Answer & Explanation Answer: B) Number of births per 1000 in 1 year

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Q:

Increase in the demand for a good will cause the equilibrium price of the good to ________ and the equilibrium quantity to _________.

A) increase; increase B) decrease; decrease
C) increase; decrease D) decrease; increase
 
Answer & Explanation Answer: A) increase; increase

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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.

The quest for a _____ life engrosses every human being on this earth. Everyman tends to define a happy life in a _____ individualistic fashion. _____have attempted to define a happy life in various terms. Hedonists have a _____ notion that happiness lies in the _____ of physical appetites.

on this earth. Everyman tends to define a happy life in a _____ individualistic fashion.

A) distinctly B) identically
C) similar D) serious
 
Answer & Explanation Answer: A) distinctly

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