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1
What does demand for a commodity refer to?
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Answer - C) Amount of the commodity demanded at a particular price and at a particular time
2
If the demand for a good is inelastic, what will an increase in its price cause the total expenditure of the consumers of the good to do?
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3
What does income elasticity of demand measure?
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Answer - A) Quantity demanded to a change in income
4
What does the supply of a good refer to?
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Answer - D) Quantity of the good offered for sale at a particular price per unit of time
5
In the short run, what happens to the average fixed cost of a firm when its output increases?
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6
What is the cost of one thing in terms of the alternative given up called?
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Answer - D) Opportunity cost
7
In which of the following market structures is the degree of control over the price of its product by a firm very large?
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8
What type of demand is the demand for factors of production?
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Answer - A) Derived demand
9
The producers demand for a factor of production is governed by the ___ of that factor.
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Answer - B) Marginal productivity
10
Who is the lender of the last resort in the banking structure of India?
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Answer - B) Reserve Bank of India
11
What is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks?
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12
Which among the following is a function of the Reserve Bank of India?
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Answer - B) Collecting and compilation of statistical information relating to banking & other financial sectors
13
Among the following, which is a direct tax?
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14
What is the cause of inflation?
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Answer - A) Deficit financing
15
What is the capital that is consumed by an economy or a firm in the production process known as?
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16
Which of the following is also known as the International Bank for Reconstruction and Development?
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17
How does a change in fiscal policy affect the balance of payments?
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Answer - C) Both the current account and capital account
18
What does fiscal policy mean?
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Answer - C) Policy relating to government spending, taxation, and borrowing
19
Which of the following is NOT an objective of the fiscal policy of the government of India?
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Answer - C) Regulation of inter-state trade
20
Who implements monetary policy in India?
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Answer - D) Reserve Bank of India
21
What is the most simple and popular method of measuring economic development?
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Answer - B) Constant prices
22
How can the growth rate of an economy be accelerated?
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Answer - C) Investment in human capital formation
23
What is it called when national income is calculated with reference to a base year?
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Answer - C) Real national income
24
Which market structure symbolizes the existence of few sellers?
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25
What factors determine the national income of a country?
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Answer - D) All of the above
26
What kind of process is management considered to be?
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27
What type of strategies do professional managers help organizations in formulating?
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28
At which level of the organization does management exist?
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Answer - D) All of the above
29
Management is said to be a combination of what?
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Answer - A) Arts, science, and profession
30
What is supposed to be immutable, unchanging, and eternal?
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31
What does positive motivation make people willing to do, and what does it improve?
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32
What is the objective in corporate governance?
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Answer - D) All of the above
33
What is the heart of administration?
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34
Which function is direction, and who performs it in the organization?
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35
What is considered a tool for corporate governance?
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Answer - C) Communication
36
Which internal environmental factor influences management?
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Answer - D) All of the above
37
Management is said to be the combination of three factors: arts, science, and the third is?
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38
What is one of the popular forecasts?
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39
What is a limitation of business planning?
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Answer - D) All of the above
40
In the management process, which word is the most misinterpreted?
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41
What is management as a discipline a function of?
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42
Which word denotes a function, a task, a discipline?
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43
What is the overriding factor determining the extent of decentralization?
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44
What is considered a tool for corporate governance?
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Answer - B) Communication
45
According to the statement, what relationship is described between an employees level and job satisfaction?
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46
What kind of process is management considered to be?
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47
Who said, Economics is a study of wealth (Assets)?
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48
In the concept of Economics, what does Macro mean?
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49
In the concept of Economics, what does Micro mean?
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50
What is the term for the quantity of a product people are willing to buy at a certain price?
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51
What is the term for the quantity of a certain goods producers are willing to supply when receiving a certain price?
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52
What is the term for a point where the quantity of goods being supplied is exactly the same as the quantity of goods being demanded?
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53
What does it mean when it is said that if all other factors remain equal, the higher the price of a good, the fewer people will demand that good?
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Answer - A) The law of demand
54
Why do producers supply more at a higher price?
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Answer - B) The law of supply
55
What are the factors of production?
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Answer - D) All of the above
56
What are the stages of the law of variable proportions?
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Answer - D) All of the above
57
What are the stages of the law of returns to scale?
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Answer - D) All of the above
58
Which of the following is not a part of cost?
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Answer - C) Changeable Cost
59
Which concept is used to find out the cut-off production volume where there is no profit and no loss?
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Answer - B) Break-Even Analysis
60
What does Total Cost equal to?
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Answer - A) Total cost = total fixed cost + total variable cost
61
Where does the exchange of goods and services take place?
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62
What is the type of market that includes Monopoly, Oligopoly, and Perfect competition?
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Answer - D) All of the above
63
What does Monopoly refer to in the context of a market?
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64
What does GNP stand for?
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Answer - D) Gross National Product
65
What does GDP stand for?
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Answer - A) Gross Domestic Products
66
What is Disposable Personal Income (DPI)?
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Answer - A) DPI = PI – Income Tax paid
67
What does Poverty refer to?
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68
What is the term for a situation in which a person is jobless?
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69
What are the types of unemployment?
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Answer - D) All of the above
70
How is inflation defined?
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71
What is an economic good that acts as a medium of exchange in transactions?
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72
What is one of the functions of money?
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Answer - D) All of the above
73
What is known as plastic money?
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Answer - C) Credit or Debit cards
74
Which policy involves the government adjusting its spending levels and tax rates to monitor and influence a nations economy?
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Answer - A) Fiscal policy
75
What do you call the financial activities done by banks?
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76
What are the functions of a bank?
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77
Which institution in India controls the monetary policy of the Indian rupee?
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78
What are the functions of RBI (Reserve Bank of India)?
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Answer - D) All of the above
79
What is described as both a science and an art?
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80
What are the types of management?
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Answer - D) All of the above
81
What is the ultimate source of authority?
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Answer - A) Top management
82
What are the skills of management?
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Answer - D) All of the above
83
What are the principles of management?
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Answer - D) All of the above
84
What are the functions of management?
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Answer - D) All of the above
85
What is considered a function of management?
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86
What is an organized group of people with a particular purpose?
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87
What is a characteristic of an organization?
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Answer - D) All of the above
88
What is the function of an organization?
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Answer - D) All of the above
89
What are the types of organization?
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Answer - D) All of the above
90
When power and authority are kept under top management, what is it known as?
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Answer - A) Centralization
91
What is a characteristic of corporate social responsibility (CSR)?
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Answer - D) All of the above
92
What is an advantage of corporate social responsibility (CSR)?
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Answer - D) All of the above
93
What is the term for the total demand for goods and services in an economy?
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Answer - A) Aggregate demand
94
What is a recession?
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Answer - B) A period during which aggregate output declines
95
What does macroeconomics deal with?
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Answer - A) The economy as a whole
96
What is the practice of using fiscal and monetary policy to stabilize the economy known as?
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Answer - A) Fine Tuning of Demand
97
According to the classical economists, what is the nature of the economy?
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Answer - D) Is self-correcting
98
What are the three motives of money demand?
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Answer - B) Speculative, Transaction, Precautionary
99
What is the rate at which the central bank lends to commercial banks known as?
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Answer - B) Discount Rate
100
What can an expansionary fiscal policy do?
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Answer - A) Raise the national debt