Discussion
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- Question
The modern economy is NOT characterized by ___________.
Options- A. self-sufficient village system
- B. development of money economy
- C. capital intensive mode of production
- D. production for market
- Correct Answer
- self-sufficient village system
- 1. Goods whose demand is proportional to price are called
Options- A. inferior goods
- B. Veblen goods
- C. normal goods
- D. exclusive goods Discuss
- 2. If demand curve for house cleaning services is D = 45000 - 21P and supply curve is S = 15000 + 9P, find the equilibrium Quantity?
Options- A. 12000 units
- B. 6000 units
- C. 24000 units
- D. 30000 units Discuss
- 3. India was able to achieve the fiscal deficit target for the Financial Year 2016-17. It was how much percent of GDP?
Options- A. 3.50%
- B. 4.20%
- C. 3.00%
- D. 2.50% Discuss
- 4. In which of the following types of economy are the factors of production owned individually?
Options- A. Capitalist
- B. Socialist
- C. Mixed
- D. Both Capitalist and Socialist Discuss
- 5. The average product curve are inverse ____ shaped.
Options- A. X
- B. W
- C. V
- D. U Discuss
- 6. Short run marginal cost curve cuts the average variable cost curve from _______ at the minimum point of average variable cost.
Options- A. top
- B. below
- C. right
- D. left Discuss
- 7. "Forests" is listed in the __________ list given in the Seventh Schedule in the Constitution of India.
Options- A. Union
- B. State
- C. Global
- D. Concurrent Discuss
- 8. Match the characteristics with their market structure: (a) Firm has control over quantity of output but it must take into account reactions of competitors. b) Firm will tend to set output so that it earns maximum profits.
Options- A. (a) Oligopoly, (b) Pure competition
- B. (a) Monopolistic competition, (b) Oligopoly
- C. (a) Pure Monopoly, (b) Pure competition
- D. (a) Oligopoly, (b) Pure Monopoly Discuss
- 9. The short run average cost curve is ____ shaped.
Options- A. U
- B. V
- C. X
- D. W Discuss
- 10. In December 2017, Mid-Term Review of the Foreign Trade Policy (FTP) was released. The review announced how much percent increase each in incentive rates of Merchandise Exports from India Scheme and Services Export from India Scheme?
Options- A. 5%
- B. 10%
- C. 2%
- D. 15% Discuss
Indian Economy problems
Search Results
Correct Answer: Veblen goods
Correct Answer: 24000 units
Correct Answer: 3.50%
Correct Answer: Capitalist
Correct Answer: U
Correct Answer: below
Correct Answer: Concurrent
Correct Answer: (a) Oligopoly, (b) Pure Monopoly
Correct Answer: U
Correct Answer: 2%
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