Question

-1- Iron, Minerals, Coal & Plants are examples of which productive resource?

(a) Land (b) Labour (c) Entrepreneurship (d) Capital

Ques-2- Difference between wants and needs and available resources?

(a) Economy (b) Factors of production (c) Resource (d) Scarcity

Ques-3-What would be the nature of elasticity of demand for "Giffen Goods"?

(a) Positive (b) Negative (c) Neutral (d) None of these

Ques-4- The most widely used monetary policy tool among these is.

(a) Open market operations (b) Issuing of notes (c) Close market operations (d) Discount rate

Ques-5- Which among these is not a monetary tool

(a) SLR (b) Deficit Financing (c) Open market operation (d) CRR

Ques-6- Car and petrol are examples of ______ demand.

(a) Complementary (b) Competitive (c) Substitute (d) Composite

Ques-7- _______ possess general acceptability.

(a) Cheque (b) Money (c) Bank draft (d) Bond

Ques-8 – Under monopoly market a firm / seller has _____

(a) Partial control over price (b) Full control over price

(c) No control over price (d) None of the above

Ques-9- Homogenous products are sold under____

(a) Oligopoly market (b) Monopoly market (c) Perfect market (d) Monopolistic market

Ques-10- HDFC bank is an example of

(a) Foreign Bank (b) Public Bank (c) Private Bank (d) None of these

Ques-11- _____ are people who work for a person or an organization and get paid for that work

(a) Self employed (b) Wage employed (c) Both of the above (d) None of the above

Ques-12- As an entrepreneur you should be ______

(a) Creative (b) Hardworking (c) Decision Maker (d) All of the above

Ques-13- Which supply price increase in the short run the profit of the producer ______

(a) Increase (b) Decreases (c) Remains Constant (d) Decrease Marginally

Ques-14- Land is a _____ factor of production.

(a) Mobile (b) Immobile (c) Temporary (d) Active

Ques-15- Which of the following is not a characteristic of land?

(a) Land is a direct demand (b) Land variers in fertility

(c) Land is limited in supply (d) Land as many uses

Ques-16- Detergent power and detergent cake are example of _______

(a) Substitute goods (b) Complementary goods (c) Jointly demand goods (d) Inferior goods

Ques-17- When the government gives tax ______ then the supply of the goods will increase.

(a) Restriction (b) Imposition (c) Concession (d) Perfection

Ques-18- Demand for goods will increase during ____ period.

(a) Inflation/Boom (b) Deflation (c) Depression (d) Stagnation

Ques-19- _____ of labour is related to division of labour.

(a) Supply (b) Demand (c) Specialization (d) Universalization

Ques-20- A shirt costing Rs300 is ______ function of money

(a) Measure of value (b) Store of value (c) Transfer of value (d) Cognizable value.​

Answer 1

Answer:

Explanation:

1. (a) Land

2. (a) Economy

3. (a) Positive

4. (a) open market operations

5. (b) Deficit Financing

6. (a) Complementary

7. (b) Money

8. (c) No control over price

9.  (b) Monopoly market

10. (c) Private Bank

11. (c) Both of the above

12. (d) All of the above

13. (a) Increase

14. (d) Active

15. (c) Land is limited in supply

16.  (b) Complementary goods

`17. (a) Restriction

18. (a) Inflation/Boom

19. (c) Specialization

20. (a) Measure of value

Answer 2

1. Iron, Minerals, Coal & Plants are examples of land(option a) productive resource
2. Economy(option a)
3. Positive(option a)- A Giffen good is a low-cost, non-luxury item whose demand rises as the price rises, and vice versa
4. Open market operations (option a)- The buying and selling of government securities is known as open market operations. Because open market operations are flexible, they are the most commonly employed monetary policy tool
5. Deficit Financing (option b)- Deficit financing refers to raising funds to cover a deficit caused by an excess of spending over receipts. The shortfall is filled by borrowing from the public, either through bond sales or the creation of fresh money
6. Car and petrol are examples of Complementary (option a) demand
7. Money(option b) possess general acceptability
8. Under monopoly market a firm / seller has full control over price(option b)
9. Homogenous products are sold under monopoly market(option b)
10. HDFC bank is an example of private bank(option c)
11. Wage employed(option b) are people who work for a person or an organization and get paid for that work
12. As an entrepreneur you should be all of the above(option d)
13. Which supply price increase in the short run the profit of the producer increases(option a)
14. Land is a active(option d) factor of production
15. Land is limited in supply (option c) is not a characteristic of land
16. Detergent power and detergent cake are example of Complementary goods(option b)
17. When the government gives tax restriction(option a) then the supply of the goods will increase
18. Demand for goods will increase during Inflation/Boom(option a) period.
19. Specialization(option c) of labour is related to division of labour
20. A shirt costing Rs300 is Measure of value(option a) function of money