CSEET economics and Business environment mcq

ECONOMIC AND BUSINESS ENVIRONMENT

1. From the following information, calculate Personal Income.

Private Income = INR 2000 crore

Undistributed Corporate Profits = INR 500 crore

Taxes on Profits = INR 100 crore

a. INR 2600 crore

b. INR 1400 crore

c. INR 2100 crore

d. INR 2500 crore

2. From the following information compute Private Income

NNP at Factor Cost = INR 5000 crore

Transfer Payments = INR 500 crore

Interest on Public Debt = INR 200 crore

Social Security disbursements = INR 100 crore

Profits and Surpluses of Public Undertakings = INR 400 crore

a. INR 6200 crore

b. INR 5200 crore

c. INR 5400 crore

d. INR 6000 crore

3. From the following information compute Net National Product (NNP) at

market prices.

GNP at Market Prices = INR 600 crore

Depreciation = INR 100 crore

Transfer Payments = INR 200 crore

Subsidies = INR 50 crore

a. INR 950 crore

b. INR 650 crore

c. INR 350 crore

d. INR 500 crore

4. ________________refers to market value of the final goods and services

produced within the domestic territory of a country during a financial year, as

estimated using the current year prices.

a. Real National Product

b. Net Domestic Product

c. Nominal Gross Domestic Product

d. Real Gross Domestic Product

5. Personal income is never equal to the national income, because the former

includes the _________ whereas they are not included in the national income.

a. Factor payments

b. Income payments

c. Transfer payments

d. Foreign payments

6. The proposals of the government for levy of new taxes, modification of the

existing tax structure or continuance of the existing tax structure beyond the

period approved by Parliament are submitted to Parliament through

______________.

a. Finance Bill

b. Ordinary Bill

c. Appropriation Bill

d. Expenditure Bill

7. All receipts and expenditure that liquidate or create an asset would in

general be under__________

a. Current Account

b. Profit & Loss Account

c. Capital Account

d. Revenue Account

8. Detailing of revenue receipts and expenditures is done under which of the

following ?

a. Capital Budget

b. Revenue Budget

c. Master Budget

d. Exports Budget

9. Interest payments on debts, subsidies etc., is covered under which of the

following budgets?

a. Master Budget

b. Exports Budget

c. Capital Budget

d. Revenue Budget

10. Disinvestment receipts is covered under which of the following?

a. Master Budget

b. Capital Budget

c. Revenue Budget

d. Exports Budget

11. Which is / are the function / (s) of the financial system of a country?

a. Allocation and mobilisation of savings

b. Provision of funds

c. Developing financial markets

d. All of the above

12. Which of the following is the correct classification of banks in India?

a. Commercial Banks, Small Finance Banks, Payment Banks and Cooperative

Banks

b. Commercial Banks and Small Finance Banks

c. Payment Banks and Cooperative Banks

d. Commercial Banks, Payment Banks and Cooperative Banks

13. Commercial banks in India comprises of:

a. Only Public Sector Banks

b. Only Public and Private Sector Banks

c. Public Sector Banks, Private Sector Banks and Regional Rural Banks

d. Only Public Sector Banks and Regional Rural Banks

14. Which of the following banks cannot issue credit card?

a. State Bank of India

b. Canara Bank

c. HDFC

d. Paytm Payments Bank

15. In February 2003, following the repeal of the Unit Trust of India Act, 1963,

UTI was bifurcated into two separate entities, viz., the _______________ and

____________ which functions under the SEBI MF Regulations.

a. Specified Undertakings of the Union Territory of India (SUUTI) and UTI Mutual

Fund

b. Specified Undertakings of the Union Trust of India (SUUTI) and UTI Mutual

Fund

c. Specified Undertakings of the Unit Trust of India (SUUTI) and UTI Mutual

Fund

d. Specified Undertakings of the Unit Trust of India (SUUTI) and SBI Mutual Fund

16. Which of the following programmes was launched by the Government of

India with the aim of adding more smartphone components under the Make in

India initiative thereby giving a push to the domestic manufacturing of mobile

handsets?

a. Proper Manufacturing Programme (PMP)

b. Phased Manufacturing Plan (PMP)

c. Phased Manufacturing Process (PMP)

d. Phased Manufacturing Programme (PMP)

17. Which of the following is covered under the tertiary sector?

a. Agriculture

b. Services

c. Manufacturing d. Exports

18. Which of the following has the following three missions?

i) Connect India: Creating robust digital communications infrastructure

ii) Propel India: Enabling next generation technologies and services through

investments, innovation and IPR generation.

iii) Secure India: Ensuring sovereignty, safety and security of digital

communications.

a. National Digital Coordination Policy 2018

b. New Digital Communications Policy 2018

c. National Digital Communications Policy 2018

d. National Digital Comprehensive Policy 2018

19.

Stand-up India scheme is anchored by ________________,

_______________ and _______

a. Department of Financial Services, Ministry of Human Resource Development

and Ministry of Corporate Affairs

b. Department of Financial Services, Ministry of Finance and Government of

India

c. Department of Financial Services, Ministry of Statistics and Programme

Implementation and Government of India

d. Department of Financial Services, Ministry of Home Affairs and Government

of India

20. Pradhan Mantri Kaushal Kendra is offered by which of the following?

a. National Skill Determination Corporation (NSDC)

b. New Skill Development Corporation (NSDC)

c. National Skill Development Corporation (NSDC)

d. National Strategy Development Corporation(NSDC)

21. Registration of the Start-up cannot be done for which of the following type

of company?

a. Partnership firm

b. Limited Liability Partnership firm

c. Private Limited Company

d. Public Limited Company

22. Which of the following is / are the feature / (s) of business environment?

a. Specific and general forces

b. Uncertainty

c. Dynamic

d. All of the above

23. Population demographics, social mobility, income distribution etc. is covered

under which of the following factors of business environment?

a. Technological factors

b. Social factors

c. Legal factors

d. Political factors

24. Interest rates, inflation, business cycles etc. is covered under which of the

following factors of business environment?

a. Economic factors

b. Social factors

c. Legal factors

d. Political factors

25. Which of the following applications have been merged into SPICe (Simplified

Proforma for Incorporating Company electronically)

a. Name Reservation, Company Incorporation, Director Identification Number

(DIN), Permanent Account Number (PAN) and the Tax Deduction / Collection

Account Number (TAN).

b. Name Reservation, Company Incorporation and Director Identification

Number (DIN)

c. Name Reservation, Director Identification Number (DIN), Permanent Account

Number (PAN) and the Tax Deduction / Collection Account Number (TAN).

d. Director Identification Number (DIN), Permanent Account Number (PAN) and

the Tax Deduction / Collection Account Number (TAN).

26. Which of the following is / are the objective / (s) of NITI Aayog?

a. To evolve a shared vision of national development priorities, sectors and

strategies with the active involvement of States.

b. To foster cooperative federalism through structured support initiatives and

mechanisms with the States on a continuous basis, recognizing that Strong

States make a strong nation.

c. To pay special attention to the sections of our society that may be at risk of

not benefitting adequately from economic progress.

d. All of the above.

27. ‘SATH’ is a programme that focuses on two main sectors, i.e., education and

health. What is the long form of SATH?

a. Sustainable Action for Transforming Human Capital

b. Sustainable Activities for Transferring Human Capital

c. Secured Action for Transforming Human Capital d. Sustainable Action for True Human Capital

28. In the backdrop of major failure of non-banking financial institutions,

phenomenon of vanishing companies, plantation companies and stock market

scams, the Government of India set up which of the following organisations?

a. Securities and Exchange Board of India

b. Insolvency and Bankruptcy Board of India

c. Competition Commission of India

d. Serious Fraud Investigation Office

29. One of the Wings of ________________, the ICLS Academy, has the

responsibility for conducting the Induction & Advanced Training for

Probationary Officers (POs) belonging to the Indian Corporate Law Service

recruited through the Common Exam of Civil Services Examination conducted by

UPSC.

a. Indian Institute of Corporate Affairs 

b. Indian Institute of Management

c. Indian Institute of Technology

d. Indian Institute of Foreign Trade

30. Which of the following is not the functions of NCLT?

a. Registration of company

b. Transfer of shares

c. Freezing assets of a company

d. Reduce competition among the companies.

31. Which is / are the factors influencing the elasticity of supply?

a. Price of the Good.

b. Probability that the price would change in future.

c. Conditions regarding cost of production.d. All of the above

32. A commodity with a_____________ has an infinite elasticity.

a. Perfectly Elastic Supply

b. Unitary Elastic Supply

c. Relatively Greater Elastic Supply

d. Relatively Less Elastic Supply

33. When the change in supply is relatively less when compared to the

change in price, it may be stated that the commodity has a____________.

a. Unitary elastic supply

b. Relatively greater elastic supply

c. Relatively less elastic supply

d. Perfectly inelastic supply

34. A service or a commodity has a ____________ if a given quantity of it can

be supplied whatever might be the price.

a. Unitary elastic supply

b. Perfectly inelastic supply

c. Relatively less elastic supply

d. Perfectly inelastic supply

35. When the change in supply is relatively more when compared to the

change in price, it can be stated that the commodity has a ___________

a. Unitary elastic supplyb. Relatively less elastic supply

c. Relatively greater elastic supply

d. Perfectly inelastic supply

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