ECONOMICS AND BUSINESS ENVIRONMENT - CSEET MCQ SERIES 7

1. 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. Ease of Doing Business Report is prepared by which of the following organisation?

a. United Nations Organisation (UNO)

b. New Development Bank

c. World Bank

d. Asian Development Bank

4. is Gross Domestic Product (GDP) plus net factor income from abroad

a. Net Domestic Product

b. Gross National Product

c. Net National Product

d. Gross Domestic Product

5. The formula to calculate Gross Domestic Product is:

a. Net Domestic Product / Depreciation

b. Net Domestic Product x Depreciation

c. Net Domestic Product - Depreciation

d. Net Domestic Product + Depreciation

6. The is the gross fiscal deficit less net lending of the Central government.

a. Capital Account Deficit

b. Current Account Deficit

c. Gross Fiscal Deficit

d. Net Fiscal Deficit

7. Under Non-Banking Finance Company a / an means any company which is a financial institution carrying on as its principal business the acquisition of securities

a. Investment Company

b. Asset Finance Company

c. Infrastructure Finance Company

d. Loan Company

8. The refers to the amount of a good producers are willing to supply when receiving a certain price

a. Quantity Procured

b. Quantity Stored

c. Quantity Produced

d. Quantity Supplied

9. What is the formula to compute Operating Surplus?

a. Gross Value added at Factor Cost - Compensation of Employees –

Depreciation

b. Gross Value Added at Factor Cost + Compensation of Employees +

Depreciation

c. Gross Value Added at Market Price - Compensation of Employees

d. Gross Value Added at Factor Cost - Compensation of Employees + Depreciation

10. is expenditure incurred on by business firms on a) new plants, b) adding to the stock of inventories and c) on newly constructed houses

a. Investment expenditure

b. None of the above

c. Consumption expenditure

d. Net exports

11. If the demand for a commodity rises more than in proportion to rise in income then the income elasticity of demand will be .

a. Unity

b. Less than zero

c. Greater than unity

d. Greater than zero but less than one

12. National Company Law Tribunal has been constituted under

a. Competition Act, 2002

b. Companies Act, 1956

c. Indian Contract Act, 1872

d. Companies Act, 2013

13. The primary objective of was to meet the challenge of skilling at scale with speed, standard and sustainability

a. National Policy for Skill Development and Earning Capacity

b. National Policy for Skill Determination and Entrepreneurship

c. New Policy for Skill Development and Earning Capacity

d. National Policy for Skill Development and Entrepreneurship

14. The long form of DPIIT is:

a. Department for Promotion of Innovation and International Trade

b. Department for Promotion of Industry and Internal Trade

c. Department for Proliferation of Innovation and Internal Trade

d. Department for Promotion of Industry and International Trade

15. The latin phrase ‘Ceteris Paribus’ means:

a. Other things are beyond imagination

b. Other things remaining the same

c. No presence of any factors

d. Other things being changeable

16. The Revenue Budget records all and

a. Revenue receipts and Revenue expenditure

b. Revenue receipts and Capital expenditure

c. Revenue expenditure and Capital expenditure

d. Revenue receipts and Capital receipts

17. Which of the following is not a bottleneck in entrepreneurial growth?

a. Proper Planning

b. A small or non existent network

c. Too much noise

d. Lack of Money

18. Commercial banks are regulated under the

a. Negotiable Instruments Act, 1881

b. Indian Companies Act, 2013

c. Indian Contract Act, 1872

d. Banking Regulation Act, 1949

19. “The products in the market are homogenous, i.e. they are completely identical”, is the assumption of which form of market competition?

a. Duopoly

b. Monopoly

c. Monopolistic Competition

d. Perfect Competition

20. National Skill Development Corporation was set up by

a. Ministry of Finance

b. Ministry of Statistics and Programme Implementation

c. Ministry of Agriculture

d. Ministry of Human Resource Development

21. ‘No change in consumers’ income’, is the assumption of which of the following laws of Economics?

a. Law of Supply

b. Law of Increasing Returns to Scale

c. Law of Diminishing Returns to Scale

d. Law of Demand

22. If ep = 0, then it signifies:

a. Perfectly Elastic Demand

b. Perfectly Inelastic Demand

c. Relatively Inelastic Demand

d. Unitary Elastic Demand

23. In 1978, UTI was de-linked from the RBI and the took over the regulatory and administrative control place in place of RBI.

a. Small Industries Development Bank of India

b. Industrial Finance Corporation of India

c. Industrial Development Bank of India

d. National Bank for Agriculture and Rural Development

24. From the following information calculate Gross National Product at Market Price.

GDP at Factor Cost = INR 1000 Crore GDP at Market Price = INR 2000 Crore Net Income from Abroad =INR 100 Crore

a. INR 900 Crore

b. INR 1100 Crore

c. INR 1900 Crore

d. INR 2100 Crore

25. Salaries, subsidies and interest payments are part of in union budget.

a. Revenue Expenditure

b. Indirect Expenditure

c. Direct Expenditure

d. Capital Expenditure

26. Consumer spending less on luxury items like car due to recession will fall under which of the following business environment?

a. Political Environment

b. Social Environment

c. Technological Environment

d. Economic Environment

27. if any, must be deducted from the value added while

calculating national income as per the Product Method, as it does not result into real increase in output.

a. Stock Depreciation

b. Stock Loss due to theft

c. Stock Appreciation

d. Stock Insured

28. From the following information compute Private Income NNP at Factor Cost = INR 5000 crore

Transfer Payments = INR 400 crore Interest on Public Debt = INR 100 crore

Social Security disbursements = INR 100 crore

Profits and Surpluses of Public Undertakings = INR 300 crore

a. INR 6200 crore

b. INR 5100 crore

c. INR 5400 crore

d. INR 6000 crore

29. From the following information compute Net National Product (NNP) at market prices. GNP at Market Prices = INR 500 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 400 crore

30. 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

31. 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

32. 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

33. 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

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

a. Master Budget

b. Capital Budget

c. Revenue Budget

d. Exports Budget

35. 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

6 c 26 c

7 d 27 a

8 d 28 d

9 b 29 b

10 b 30 c

11 a

12 a

13 d

14 d

15 a

16 d

17 b

18 c

19 d

20 a

1 d 21 d

2 a 22 c

3 d 23 b

4 a 24 d

5 a 25 c