ECONOMICS AND BUSINESS ENVIRONMENT - CSEET MCQ SERIES 5

1. Economic and Business Environment

is an online procurement platform for government ministries and departments, and the most widely used channel for public procurement in India.

a. Government e Manufacturing Plan

b. Government e Model place

c. Government e Marketplace

d. Government e Manufacturing place

2. The Law of Demand governs the relationship between the and the .

a. Desire and Price

b. Desire and Ability.

c. Quantity demanded and Desire.

d. Quantity demanded and Price.

3. "The Products in the market are homogeneous, i.e., they are completely identical", is an assumption under which of the following forms of market competition?

a. Oligopoly

b. Monopolistic Competition

c. Perfect Competition

d. Duopoly

4. is an index of price changes of goods and services included in GDP.

a. GDP Deflator

b. GDP Inflator

c. GDP Multiplier

d. GDP Accelerator

5. account for flows of those transactions where the government is merely acting as a banker.

a. Consolidated Fund

b. Contingency Fund

c. Public Account

d. None of the above

6. Competition Commission of India is affiliated office of .

a. Ministry of Finance

b. Ministry of Corporate Affairs

c. Ministry of Statistics and Programme Implementation

d. Ministry of Agriculture

7. If ep <1, it signifies:

a. Relatively Inelastic Demand

b. Perfectly Elastic Demand

c. Perfectly Inelastic Demand

d. Unitary Elastic Demand

8. Small Finance Banks are licensed under Section 22 of the

a. Banking Regulation Act, 1949

b. Negotiable Instruments Act, 1881

c. Reserve Bank of India Act, 1935

d. Indian Contract Act, 1872

9. The formula to calculate Personal Income is:

a. National Income – Undistributed Corporate Profits – Profit Taxes – Social Security Contribution + Transfer Payments + Interest on Public Debt

b. National Income – Undistributed Corporate Profits + Profit Taxes – Social Security Contribution – Interest on Public Debt

c. National Income + Undistributed Corporate Profits + Profit Taxes + Social Security Contribution

d. National Income – Undistributed Corporate Profits + Profit Taxes – Social Security Contribution – Transfer Payments

10. If the total expenditure of the government exceeds its total revenue and non-revenue receipts in a financial year, then that gap is the for the financial year.

a. Monetary Deficit

b. Fiscal Deficit

c. Capital Deficit

d. Turnover Deficit

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