Utility means

(a)

Equilibrium point at which demand and supply are equal

(b)

Want - satisfying capacity of goods and services

(c)

Total value of commodity

(d)

Desire for goods and services

_____have exchange value and their ownership rights can be established and exchanged

(a)

Goods

(b)

Services

(c)

Markets

(d)

Revenue

The scarcity of a commodity is only in relation to its

(a)

Supply

(b)

Demand

(c)

Choice

(d)

None

The General theory of Employment, Interest and Money published by

(a)

A.C. Pigou

(b)

J.M. Keynes

(c)

Marshall

(d)

Lionel Robbins

When marginal utility reaches zero, the total utility will be

(a)

Minimum

(b)

Maximum

(c)

Zero

(d)

Negative

Given potential price is Rs. 250 and the actual price is Rs. 200. Find the consumer surplus.

(a)

375

(b)

175

(c)

200

(d)

50

The indifference curve approach is based on the concept

(a)

Diminishing marginal rate of substitution

(b)

The law of maximum satisfaction

(c)

Single mode commodity

(d)

All the above

Demand curve in general cases slopes____________.

(a)

upward towards left

(b)

vertical and parallel to Y axis

(c)

downward from left to right

(d)

horizontal and parallel to X axis

Which factor is called the changing agent of the Society

(a)

Labourer

(b)

Land

(c)

Organizer

(d)

Capital

Name the returns to scale when the output increases by more than 5%, for a 5% increase in the inputs,

(a)

Increasing returns to scale

(b)

Decreasing returns to scale

(c)

Constant returns to scale

(d)

All of the above

At the point of inflexion, the marginal product is ______________

(a)

Increasing

(b)

Decreasing

(c)

Maximum

(d)

Negative

_________ is the result of Cooperation of four factors of production.

(a)

Production

(b)

Distribution

(c)

Exchange

(d)

Trade

The cost that remains constant at all levels of output is _____ cost.

(a)

fixed

(b)

variable

(c)

real

(d)

social

Long-run average cost curve is also called as _____ curve.

(a)

demand

(b)

planning

(c)

production

(d)

sales

Find total cost where TFC = 200 and TVC = 150

(a)

300

(b)

350

(c)

200

(d)

150

MC curve is a ____ shaped curve.

(a)

V

(b)

L

(c)

A

(d)

U

Another name of price is _________

(a)

Average Revenue

(b)

Marginal Revenue

(c)

Total Revenue

(d)

Average cost

In monopolistic competition, the essential feature is ____________

(a)

Same product

(b)

Selling cost

(c)

Single seller

(d)

Single buyer

Under perfect competition, there is ___________  price prevails in the market.

(a)

High price

(b)

Low price

(c)

Uniform price

(d)

None of these

TR = P x Q.

(a)

True

(b)

False

(c)

Partially true

(d)

None of these

Quasi-rent arises in

(a)

Man-made appliances

(b)

Homemade items

(c)

Imported items

(d)

None of these

"Wages as a sum of money are paid under contract by an employer to a worker for services rendered" - Who said this?

(a)

Benham

(b)

Marshall

(c)

Walker

(d)

J.S.Mill

Interest is the reward for ___________.

(a)

Land

(b)

Labour

(c)

Capital

(d)

Organisation

Profits are the reward for____________.

(a)

land

(b)

capital

(c)

labour

(d)

organisation

Mixed economy means ______

(a)

Private sectors and banks

(b)

Co-existence of Public and Private sectors

(c)

Public sectors and banks

(d)

Public sectors only

Who among the following propagated Gandhian Economic thinkings.

(a)

Jawaharlal Nehru

(b)

VKRV Rao

(c)

JC Kumarappa

(d)

A.K.Sen

There are only _____ main gold mine regions.

(a)

three

(b)

two

(c)

one

(d)

none of the above

Human Development Index was developed by the Indian economist ______

(a)

Marshall

(b)

Mahbub ul Haq

(c)

J.M. Keynes

(d)

Amartya Sen

The Planning Commission was setup in the year ____________

(a)

1950

(b)

1955

(c)

1960

(d)

1952

According to HDR (2016), India ranked __ out of 188 countries.

(a)

130

(b)

131

(c)

135

(d)

145

The British capitalists who established __ in Bengal.

(a)

Thread Mills

(b)

Cotton Mills

(c)

Rice Mills

(d)

Jute Mills

There is a great demand for __________ in developed countries.

(a)

consumer goods

(b)

capital goods

(c)

handicraft goods

(d)

intermediate goods

Expansion of FDI____

(a)

Foreign Private Investment

(b)

Foreign Portfolio

(c)

Foreign Direct Investment

(d)

Forex Private Investment

The Goods and Services Tax Act come into effect on ______

(a)

1^st July 2017

(b)

1^st July 2016

(c)

1^st January 2017

(d)

1^st January 2016

EPZ indicates______.

(a)

Export Product Zone

(b)

Export Processing Zone

(c)

Export Price Zone

(d)

Export Zone

India Shares______ percent of the total world population

(a)

17.5

(b)

20.5

(c)

35.6

(d)

10.5

Which is considered as the basic unit for rural areas?

(a)

Panchayat

(b)

Village

(c)

Town

(d)

Municipality

Identify the year of launch of MUDRA Bank?

(a)

1995

(b)

2000

(c)

2010

(d)

2015

____________ is an important component for ensuring better quality of life

(a)

Health

(b)

Technology

(c)

Jewellery

(d)

None of these

_____________ is also called disguised unemployment.

(a)

Concealed unemployment

(b)

Under employment

(c)

Open unemployment

(d)

Technical unemployment

Which Union Territory has the highest sex ratio?

(a)

Chandigarh

(b)

Pondicherry

(c)

Lakshadeep

(d)

Andaman Nicobar

The largest contribution to GSDP in Tamil Nadu comes from

(a)

agriculture

(b)

industry

(c)

mining

(d)

services

Coimbatore is also referred to as ________.

(a)

The pump city

(b)

Detroit of Tamil Nadu

(c)

Gateway of Tamil Nadu

(d)

Little Japan

____ International Airport is currently the third largest airport in India after Mumbai and Delhi.

(a)

Chennai

(b)

Kolkata

(c)

Madurai

(d)

Coimbatore

Differentiation of constant term gives

(a)

one

(b)

zero

(c)

infinity

(d)

non-infinity

The first differentiation of Total Revenue function gives

(a)

Average Revenue

(b)

Profit

(c)

Marginal Revenue

(d)

Zero

________ methods are helpful for achieving the objectives of the economic analysis.

(a)

Inductive method

(b)

Deductive method

(c)

Mathematical methods

(d)

Statistical methods

\(M={1/2-Y_1\over X_2-X_1}\)gives the

(a)

Slope

(b)

Straight line

(c)

Variant

(d)

Constant