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Updated: Apr 6, 2023

1. No Change in Consumer’s Income’ is assumption of which of the following laws of economics?

a) Law of Demand

b) Law of Supply

c) Law of Variable Proportion

d) Law of Returns to Scale

2. A service or commodity has a if a given quantity of it can be supplied whatever might be the price.

a) Relatively Less-Elastic Supply

b) Perfectly Inelastic Supply

c) Relatively Greater-Elastic Supply

d) Unitary Elastic Supply

3. Under which of the following methods of computing national income, the production value of following sectors are added up- Agriculture, Manufacturing, Construction, Transport and Communication, Banking, Administration and Defence.

a) Income Method

b) Expenditure Method

c) Value Added Method

d) Profit Method

4. Salaries, subsidies and interest payments of government are covered under which of the following?

a) Capital Expenditure

b) Miscellaneous Expenditure

c) Imputed Expenditure

d) Revenue Expenditure

5. Which of the following does not form part of the Indian financial services sector?

a) Capital markets

b) Insurance sector

c) Non-banking financial companies (NBFCs)

d) Unscrupulous Money lenders

6. When a company situated in one country makes an investment in a company situated abroad, it is known as

a) Foreign Portfolio Investment

b) Foreign Direct Investment

c) Foreign donation

d) Foreign grant

7. Which of the following is / are the bottleneck / (s) for entrepreneurial growth?

a) Inefficient time management

b) Lack of money

c) Too much noise

d) All of the above

8. During recession the consumers tend to spend less on luxury items. This phenomenon is related to which of the following business environment?

a) Political environment

b) Social environment

c) Economic environment

d) Legal environment

9. Which of the following is not the affiliated office of the Ministry of Corporate Affairs?

a) Serious Fraud Investigation Office

b) Competition Commission of India

c) Indian Institute of Corporate Affairs

d) Securities and Exchange Board of India

10. The Central Office of the Reserve Bank of India was initially established in

but was permanently moved to Mumbai in 1937.

a) Kolkata (Erstwhile Calcutta)

b) Chennai (Erstwhile Madras)

c) Coimbatore

d) Ahmedabad

1-a 2-b 3-c 4-d 5-d 6-b 7-d 8-c 9-d 10-a

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