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- Question
The Law of Demand is based on the concept that people _______.
Options- A. buy more of a good as their income increases.
- B. buy more of a good as the price of the good falls.
- C. will spend all of their money on something.
- D. want more of everything even if they have no money to buy anything.
- Correct Answer
- buy more of a good as the price of the good falls.
- 1. The difference between exports and imports is called-?
Options- A. assets and liabilities
- B. balance of payment
- C. GDP
- D. balance of trade Discuss
- 2. Government has announced to fix MSP at a level of at least ________________ per cent of the cost of production for kharif crops 2018-19 which redeems the promise made in the Union Budget for 2018-19.
Options- A. 50 per cent
- B. 250 per cent
- C. 200 per cent
- D. 100 per cent Discuss
- 3. Depreciation is loss in value of ________
Options- A. Final goods
- B. Machinery
- C. Capital stock
- D. Stock of inventory Discuss
- 4. The demand of a commodity is a direct demand but the demand of a factor of production is called a
Options- A. Crossed demand
- B. Joint demand
- C. Derived demand
- D. Independent demand Discuss
- 5. When the demand for a good increases with an increase in income, such a good is called_______
Options- A. Superior good
- B. Giffin good
- C. Inferior good
- D. Normal good Discuss
- 6. What does 'C' stands for 'CAGR', a business specific term for the geometric progression ratio that provides a constant rate over the specific time period?
Options- A. Control
- B. Compound
- C. Credit
- D. Call Discuss
- 7. PMVVY (Pradhan Mantri Vaya Vandana Yojana) pension limit extends to which timeline?
Options- A. March, 2021
- B. March, 2019
- C. March, 2022
- D. March, 2020 Discuss
- 8. The Certificate of Deposit (CD) is a negotiable money market instrument and issued in the form of?
Options- A. Derivative Usance Promissory Note
- B. Usance Promissory Note
- C. Demand Promissory Note
- D. Both a & b Discuss
- 9. A company faces a -2.5 price elasticity of demand for its product. It is presently selling 10,000 units/month. If it wants to increase quantity sold by 6%, it must lower its price by
Options- A. 3.50%
- B. 15%
- C. 2.50%
- D. 2.40% Discuss
- 10. Lowering of value of currency relative to a foreign reference currency is called _________.
Options- A. Devaluation
- B. Revaluation
- C. Down valuation
- D. Negative valuation Discuss
Indian Economy problems
Search Results
Correct Answer: balance of trade
Explanation:
The difference between exports and imports is called the balance of trade. If imports are greater than exports, it is sometimes called an unfavourable balance of trade. If exports exceed imports, it is sometimes called a favourable balance of trade.
Correct Answer:
Explanation:
Government has announced its historic decision on 04.07.2018 to fix MSP at a level of at least 150 per cent of the cost of production for kharif crops 2018-19 which redeems the promise made in the Union Budget for 2018-19.The MSPs fixed by Government, cost and returns over all-India weighted average cost of production of crops for 2017-18 and 2018-19 is at Annexure.Cost of production varies in different states on account of difference in levels of irrigation, resource endowment, farm mechanization, land holding size, yield of crops etc.
Correct Answer: Machinery
Correct Answer: Derived demand
Correct Answer: Superior good
Correct Answer: Compound
Explanation:
CAGR stands for Compound Annual Growth Rate. So, C stands for Compound. Compound annual growth rate (CAGR) is a business and investing specific term for the geometric progression ratio that provides a constant rate of return over the time period.
Correct Answer: March, 2020
Explanation:
PMVVY (Pradhan Mantri Vaya Vandana Yojana) pension limit extends to March, 2020.
The Union Cabinet, chaired by Prime Minister Narendra Modi approved extending the investment limit from Rs 7.5 lakh to Rs 15 lakh under the Pradhan Mantri Vaya Vandana Yojana (PMVVY).
It also extended the last date for a subscription to the scheme till March 31, 2020. The time limit was earlier supposed to end on May 4, 2018.
The PMVVY is being implemented through Life Insurance Corp (LIC) to provide social security during old age and protect the elderly aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme provides an assured pension based on a guaranteed rate of return of 8 percent per annum for 10 years.
Correct Answer: Usance Promissory Note
Explanation:
The Certificate of Deposit (CD) is a negotiable money market instrument and issued in dematerialised form or as a Usance Promissory Note against funds deposited at a bank or other eligible financial institution for a specified time period. (Usance Promissory Note has to be paid after certain time period).
Correct Answer: 2.40%
Correct Answer: Devaluation
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