Questions

Q:

Five statements are given below, labelled A, B, C, D and E, among these, four statements are in logical order and form a coherent paragraph/passage. From the given options, choose the option that does not fit into the theme of the passage.

A) This takes us back to John Stuart Mill, the great nineteenth-century economist and philosopher, who believed that nobody can be a good economist if he or she is just an economist. B) To be sure, most academic disciplines have become highly specialized since Mill’s day; and, since the collapse of theology,
C) no field of study has aimed to understand the human condition as a whole. D) The life insurance industry has been destroyed by high and uncertain inflation as well.
 
Answer & Explanation Answer: D) The life insurance industry has been destroyed by high and uncertain inflation as well.

Explanation:

All statements except ‘D’ are based on the economists versus the economy, while sentence D talks about 'The Destructive Power of Inflation'.

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Filed Under: English
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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

Explanation:
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Filed Under: Indian Economy
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Q:

In which market form, a market or an industry is dominated by a single seller?

A) Oligopoly B) Monopoly
C) Duopoly D) Monopolistic Competition
 
Answer & Explanation Answer: B) Monopoly

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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:

In which of the following plants are buds produced in the notches along the leaf margin?

A) Bryophyta B) Banana
C) Rose D) Bryophyllum
 
Answer & Explanation Answer: D) Bryophyllum

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Filed Under: Biology
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Q:

How many union territories does India have as of June 2017?

A) 7 B) 6
C) 5 D) 4
 
Answer & Explanation Answer: A) 7

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Filed Under: Indian Geography
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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:

If price of an article decreases from Rs 600 to Rs 500, when quantity demanded increases from 10000 units to 12000 units. Find point elasticity of demand?

A) -1.2 B) 1.2
C) -1.5 D) 1.5
 
Answer & Explanation Answer: A) -1.2

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