mock test in General Economics

Economics is the study of

The opportunity cost of a good is

A market can accurately be described as

In a free market __________ ___________

In the mixed economy—

Normative economics forms ___________ based on _____________

Microeconomics is concerned with————-

Macroeconomics is the study of ___________________

A real value can be derived from a nominal value by—-

The equilibrium price clears the market; it is the price at which ________

When a market is in equilibrium——-

________ and ________ do not directly affect the demand curve

If price increase of good A increases the quantity demanded of good B, then good B is a——-

An increase in consumer income will increase demand for a _______ but decrease
demand for a _________

What is the best indicator of economic development of any country?

Who is called the father of Operation Flood in India?

Which of the following is not a Kharif Crop?

The concept of Economic Planning in India is derived from?

Which round of discussion replaced the GATT by World Trade Organisation (WTO)?

Which of the following is known as narrow money?

Which of the following is a direct tax?

During the pre-reform period, the banking sector:

What is the meaning of Fiscal policy?

When AR = Rs. 10 and AC = Rs. 8 the firm makes ___________.

Which bank among the following is responsible for issuing currency notes in India?

The unsustainable levels of government deficits in the late 1980’s increased because of:

Relationship between AR, MR and Price elasticity of demand is—–

Which of the following sector does not comes under the service sector in India?

Since when the service tax is being imposed in India?

Balance of payment consists of:

What is the meaning of GILT- EDGED market?

Devaluation of a currency means:

Who is the father of green revolution in India?

Which of the following is not a part of Fiscal policy?

Which sector provides largest employment in India?

Which of the following banks introduced ATM in India?

In which year did India adopt liberal and free market policies?

When was Value added Tax introduced in India?

National Income is equal to :

In macro- economics, disposable income refers to:

In the Industrial Policy of 1991, how many industries were reserved only for Public Sector?

142. In an oligopolistic market, firms do not raise their prices because even a small price
increase will lose many customers. Which among the following is the most suitable terms
used for this concept ?

About 96 percent of the sick units in India are _______ units.

India’s present population in 2010 is:

Which of the following statement is correct?

For inferior commodities, income effect is—

“Human Welfare is the subject of Economics.” This statement is associated with the name of which of the economists?

The Slope of Indifference Curve indicates—

In perfect competition the firm’s _________ above AVC has the identical shape of the
firm’s supply curve

Model of Monopolistic Competition (i.e. Imperfect competition) is characterized by