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Updated: Apr 6

1. According to , other things being equal, if price of a commodity falls, the quantity of it will rise, and if price of the commodity rises, its quantity demanded will decline.

a. Law of Demand

b. Law of Variable Proportions

c. Law of Increasing Returns to Scale

d. Law of Diminishing Returns to Scale

2. When a small change in price of a product causes a major change in its demand, it is said to be

a. Perfectly Inelastic Demand

b. Perfectly Elastic Demand

c. Relatively Elastic Demand

d. Relatively Inelastic Demand

3. Wages, Rents, Interest and Profits are variables considered for computing national income under which of the following methods?

a. Product Method

b. xpenditure Method

c. Income Method

d. Turnover Method.

4. All receipts and expenditure that in general do not entail sale or creation of assets are included under the .

a. Cash Account

b. Profit and Loss Account

c. Capital Account

d. Revenue Account

5. Receipts from disinvestments will be covered under which of the following categories of receipts?

a. Capital Receipts

b. Revenue Receipts

c. Cash Receipts

d. Accrued Income Receipts

6. Which of the following is not concerned with the financial system of a country?

a. Allocation and mobilisation of savings

b. Encouraging unscrupulous moneylenders

c. Developing Financial Markets

d. Provision of Legal Financial Structure

7. National Agricultural Policy, 2000 was formulated during which of the following five year plans?

a. Fourth Five Year Plan

b. Fifth Five Year Plan

c. Ninth Five Year Plan

d. Tenth Five Year Plan

8. Pre-Departure Orientation Training (PDOT) was launched by in collaboration with Ministry of Skill Development and Entrepreneurship.

a. Ministry of Human Resource Development

b. Ministry of Finance

c. Ministry of Agriculture

d. Ministry of External Affairs

9. A fashion designer’s business may suffer if he does not change with the changing textile fashion. This development will be covered under which of the following factors?

a. Social

b. Technological

c. Political

d. Economic

10. National Company Law Tribunal (NCLT) is the outcome of the .

a. Uday Kotak Committee

b. Eradi Committee

c. Cadbury Committee

d. NL Mitra Committee

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

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