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- Question
Out of the four alternatives, choose the one which can be substituted for the given words/sentences and click the button corresponding to it. One who knows everything.
Options- A. Omniscient
- B. Conscious
- C. Intellectual
- D. Learned
- Correct Answer
- Omniscient
- 1. A price floor is _____.
Options- A. a maximum legal price
- B. a minimum legal price
- C. the price where demand equals supply
- D. the price where elasticity of demand equals elasticity of supply Discuss
- 2. 'Bagh', a village in Gwalior is famous for
Options- A. Sculptures
- B. Architecture
- C. Cave Painting
- D. All of the above Discuss
- 3. If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?
Options- A. 9000 units
- B. 4500 units
- C. 10500 units
- D. 6000 units Discuss
- 4. Micro economics deals with
Options- A. the circular flow of income
- B. the decision making of a single economic variable like demand
- C. understanding unemployment
- D. economic growth Discuss
- 5. The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated _____.
Options- A. Rs 5000 worth of consumer surplus
- B. Rs 8000 worth of consumer surplus
- C. Rs 5000 worth of producer surplus
- D. Rs 8000 worth of producer surplus Discuss
- 6. The world famous Ajanta caves are situated in
Options- A. Orissa
- B. Karnataka
- C. Maharashtra
- D. Madhya Pradesh Discuss
- 7. __________________ is a good whose quantity demanded decreases when consumer income rises.
Options- A. Veblen good
- B. normal good
- C. exclusive good
- D. inferior good Discuss
- 8. The International Rice Research Institute is located in
Options- A. Thailand
- B. Malaysia
- C. Philippines
- D. Indonesia Discuss
- 9. If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is 3.2 findmP1?
Options- A. Rs 85
- B. Rs 80
- C. C)
- D. Rs 95 Discuss
- 10. Which latitude passes through the middle of India?
Options- A. Equator
- B. Arctic Circle
- C. Tropic of Capricorn
- D. Tropic of Cancer Discuss
More questions
Correct Answer: a minimum legal price
Correct Answer: Cave Painting
Correct Answer: 6000 units
Correct Answer: the decision making of a single economic variable like demand
Correct Answer: Rs 5000 worth of producer surplus
Correct Answer: Maharashtra
Correct Answer: inferior good
Correct Answer: Philippines
Correct Answer: Rs 80
Correct Answer: Tropic of Cancer
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