"Economics is a science" The basis of this statement is ______

(a)

Relation between cause and effect

(b)

Use of deductive method and inductive method for the formations of laws

(c)

Experiments

(d)

All of the above

Which one of the following is not a point in the Welfare Definition of Economics?

(a)

Study of an ordinary man

(b)

Economics does not focus on wealth alone

(c)

Economics is the study of material welfare

(d)

Economics deals with unlimited wants and limited means

Identify the correct characteristics of utility

(a)

It is equivalent to 'usefulness'

(b)

It has moral significance

(c)

It is same as pleasure

(d)

It depends upon consumer's mental attitude

______means using up of goods and services

(a)

Production

(b)

Consumption

(c)

Distribution

(d)

Exchange

Micro Economics covers

(a)

Value theory

(b)

Theory of economic welfare

(c)

Both 'a' and 'b'

(d)

Income theory

__________ are transferable and value in exchange.

(a)

Trade

(b)

Goods

(c)

Business

(d)

None

Pick the odd one out

(a)

Luxuries

(b)

Comforts

(c)

Necessaries

(d)

Agricultural goods

The chief exponent of the cardinal utility approach was

(a)

J.R. Hicks

(b)

R.G.D. Allen

(c)

Marshall

(d)

Stigler

In case of relatively more elastic demand the shape of the curve is

(a)

Horizontal

(b)

Vertical

(c)

Steeper

(d)

Flatter

The concept of consumers surplus was introduced by ____

(a)

Alfred Marshall

(b)

J.R. Hicks

(c)

A.C. Pigon

(d)

J.K. Easthan

Utility is a ____________ .

(a)

Social concept

(b)

Subjective / Psychological concept

(c)

Political concept

(d)

Scientific concept

In the absence of consumption there can be no_________.

(a)

Consumption

(b)

Production

(c)

Service

(d)

None

The law of Diminishing Marginal utility called as

(a)

Gossen's first Law of Consumption

(b)

Law of Demand

(c)

Law of Substitution

(d)

The law of Maximum Satisfaction

Demand for a commodity is a function of _________ .

(a)

Wealth

(b)

Price

(c)

Both

(d)

Taste and preference

Which factor is called the changing agent of the Society

(a)

Labourer

(b)

Land

(c)

Organizer

(d)

Capital

The functional relationship between "inputs" and "outputs" is called as

(a)

Consumption Function

(b)

Production Function

(c)

Savings Function

(d)

Investment Function

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

In the first stage of law of variable proportions, total product increases at an _______________

(a)

Decreasing rate

(b)

Increasing rate

(c)

Constant rate

(d)

Both (a) and (b)

The __________ is an important component in analysing producer's behaviour.

(a)

Iso-quant curve

(b)

Iso-cost line

(c)

Production function

(d)

Elasticity of supply

Large scale production implies ____________ leads to specialization to increase production.

(a)

Division of Labour

(b)

Labourer

(c)

Labour

(d)

None

The tendency of total product to increase at an increasing rate stops at a point and it begins to increase at a decreasing rate. This point is known as____________

(a)

Point of inflexion

(b)

Point of intersection

(c)

Point of inference

(d)

Point of survival

The costs of self-owned resources are termed as ____ cost.

(a)

real

(b)

explicit

(c)

money

(d)

implicit

The cost incurred by producing one more unit of output is _____  cost.

(a)

variable

(b)

fixed

(c)

marginal

(d)

total

Wage is an example for _____ cost of the production.

(a)

fixed

(b)

variable

(c)

marginal

(d)

opportunity

Revenue received from the sale of additional unit is termed as _____ revenue.

(a)

profit

(b)

average

(c)

marginal

(d)

total

Profit = ____.

(a)

Total Revenue - Total Cost

(b)

Total Revenue + Total Cost

(c)

Total Revenue x Total Cost

(d)

Total Revenue / Total Cost

Find total cost where TFC = 200 and TVC = 150

(a)

300

(b)

350

(c)

200

(d)

150

The functional relationship between cost and output is expressed as _____.

(a)

Production function

(b)

Consumption function

(c)

Cost function

(d)

Distribution function

Revenue means _________ revenue.

(a)

Marginal

(b)

Average

(c)

Sales

(d)

None

In which type of market, AR and MR are equal _______

(a)

Duopoly

(b)

Perfect competition

(c)

Monopolistic competition

(d)

Oligopoly

Perfect competition assumes ____________

(a)

Luxury goods

(b)

Producer goods

(c)

Differentiated goods

(d)

Homogeneous goods

In monopolistic competition, the essential feature is ____________

(a)

Same product

(b)

Selling cost

(c)

Single seller

(d)

Single buyer

The average revenue curve under monopolistic competition will be ____________

(a)

Perfectly inelastic

(b)

Perfectly elastic

(c)

Relatively

(d)

Unitary elastic

Group of the firm is known as _________

(a)

Firm

(b)

Industry

(c)

Market

(d)

None of these

Degrees of Price Discrimination given by ________ .

(a)

A.C. Pigou

(b)

J.M. Keynes

(c)

Joan Robinson

(d)

Edward Chamberlin

In Economics, distribution of income is among the

(a)

factors of production

(b)

Individual

(c)

firms

(d)

traders

Theory of distribution is popularly known as,

(a)

Theory of product-pricing

(b)

Theory of factor-pricing

(c)

Theory of wages

(d)

Theory of interest

According to the Loanable Funds Theory, supply of loanable funds is equal to

(a)

S + BC + DH + DI

(b)

I + DS + DH + BM

(c)

S + DS + BM + DI

(d)

S + BM + DH + DS

Loanable Funds Theory of Interest is called as

(a)

Classical Theory

(b)

Modern Theory

(c)

Traditional Theory

(d)

Neo-Classical Theory

The American economist ____________ modified and gave a new theory called time preference theory.

(a)

Alfred Marshall

(b)

Irving Fisher

(c)

Prof. Knight

(d)

Bohm Bawerk

The minimum payment made to a particular factor of production to retain in its present use is known as ___________.

(a)

Actual earnings

(b)

Transfer earnings

(c)

Surplus earnings

(d)

All the above

Standard of living determines___________.

(a)

Wages

(b)

Interest

(c)

Income

(d)

All of these

The measure of economic growth of a country is indicated by ____________.

(a)

GNP

(b)

GDP

(c)

NNP

(d)

Per capita income

A scientific study of the characteristics of population is _____

(a)

Topography

(b)

Demography

(c)

Geography

(d)

Philosophy

Density of population =

(a)

Land area / Total Population

(b)

Land area / Employment

(c)

Total Population / Land area of the region

(d)

Total Population / Employment

The problem studied by Ambedkar in the context of Indian Economy is ______________

(a)

Small land holdings and their remedies

(b)

Problem of Indian Currency

(c)

Economics of socialism

(d)

All of them

Human Development Index was developed by the Indian economist ______

(a)

Marshall

(b)

Mahbub ul Haq

(c)

J.M. Keynes

(d)

Amartya Sen

____________has low density of population of only 17 persons.

(a)

West Bengal

(b)

Bihar

(c)

Kerala

(d)

Arunachala pradesh

V.K.R.V. Rao founded the 'Institute for Social and Economic change' at __________ 

(a)

Delhi

(b)

Bangalore

(c)

Bombay

(d)

Chandigarh

The father of Green Revolution in India was __________

(a)

M.S. Swaminathan 

(b)

Gandhi

(c)

Visweswaraiah

(d)

N.R. Viswanathan

In the first five year plan, the top priority was given to ______ Sector.

(a)

Service

(b)

Industrial

(c)

Agriculture

(d)

Bank

The PQLI was developed by _________

(a)

Planning Commission

(b)

Nehru

(c)

Morris

(d)

Morris D. Biswajeet

Mahalwari System was introduced in ______

(a)

1820

(b)

1800

(c)

1993

(d)

1793

Industries were classified into __ groups.

(a)

One

(b)

Two

(c)

Three

(d)

Four

Steel Authority of India Ltd (SAIL) was established in __

(a)

1864

(b)

1854

(c)

1818

(d)

1974

The paper industry in India is ranked among the ___ top global paper industries.

(a)

10

(b)

15

(c)

20

(d)

25

India is the____________________ largest country in the world in producing natural silk.

(a)

second

(b)

fourth

(c)

sixth

(d)

first

_______________________five year plan aimed to double the per capita income of India.

(a)

second

(b)

Tenth

(c)

Elevanth

(d)

Sixth

The First Indianmodernised cotton cloth mill was established at Fort Gloaster, near Calcutta in __________

(a)

1810

(b)

1812

(c)

1816

(d)

1818

Agricultural Produce Market Committee is a _____.

(a)

Advisory body

(b)

Statutory body

(c)

Both a and b

(d)

None of these

Financial sector reforms mainly related to____

(a)

Insurance sector

(b)

Banking sector

(c)

Both a and b

(d)

Transport sector

The new economic policy is concerned with the following

(a)

Foreign investment

(b)

Foreign technology

(c)

Foreign trade

(d)

All the above

'The Hindu Rate of Growth' coined by Raj Krishna refers to

(a)

Low rate of economic growth

(b)

High proportion of Hindu population

(c)

Stable GDP

(d)

None

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

The Chelliah Committee's report had suggested drastic reduction in______.

(a)

import duties

(b)

export duties

(c)

both (a) and (b)

(d)

none of the above

EPZ indicates______.

(a)

Export Product Zone

(b)

Export Processing Zone

(c)

Export Price Zone

(d)

Export Zone

SEZ covers

(a)

Agriculture

(b)

Industrial parks

(c)

Forestry

(d)

Industrial parks and high tech zones.

Value Added Tax is ________ .

(a)

Multipoint tax

(b)

Single point tax

(c)

Direct tax

(d)

All the above

As per the Special Economic Zones Act of 2005, the number of zones so far notified by the Government is about_______________

(a)

300

(b)

400

(c)

500

(d)

600

Which is considered as the basic unit for rural areas?

(a)

Panchayat

(b)

Village

(c)

Town

(d)

Municipality

What percentage of the total population live in rural area, as per 2011 censes?

(a)

40

(b)

50

(c)

60

(d)

70

How do you term people employed in excess of the requirements?

(a)

Unemployment

(b)

Underemployment or Disguised Unemployment

(c)

Full employment

(d)

Self-employment

Identify an example for rural industries?

(a)

Sugar factory

(b)

Mat making industry

(c)

Cement industry

(d)

Paper industry

In which year, Regional Rural Banks came into existence?

(a)

1965

(b)

1970

(c)

1975

(d)

1980

___________ is one of the basic needs of every family

(a)

Gold

(b)

Silver

(c)

House

(d)

Diamond

The _________ forces the farmers to borrow for consumption as well as for cultivation.

(a)

Poverty Line

(b)

Vicious Circle of Poverty

(c)

Unemployment

(d)

None of these

Small Scale Industrial Units with a Capital investment of not more than Rs. ___________ Lakhs.

(a)

Rs.7.50 Lakhs

(b)

Rs.6.50 Lakhs

(c)

Rs.1 Lakh

(d)

Rs.2 Lakhs

India is the home to ____________ of the world's poor.

(a)

11%

(b)

22%

(c)

33%

(d)

10%

Application of economic principles in rural areas known as__________economics.

(a)

Fiscal

(b)

Monetary

(c)

Rural

(d)

None

Poverty is deepest among members of _____________ in the rural areas.

(a)

Scheduled castes and Tribes

(b)

Most Backward caste

(c)

Backward caste

(d)

All the above

Which of the following cities does not have international airport?

(a)

Madurai

(b)

Tiruchirappalli

(c)

Paramakudi

(d)

Coimbatore

Largest area of land is used in the cultivation of

(a)

Paddy

(b)

Sugarcane

(c)

Groundnut

(d)

Coconut

In investment proposals filed by MSMEs, TN ranks

(a)

I

(b)

II

(c)

III

(d)

IV

Which district has the lowest child sex ratio?

(a)

Madurai

(b)

Theni

(c)

Ariyalur

(d)

Cuddalore

The Headquarters of Southern Railway is at

(a)

Tiruchirappalli

(b)

Chennai

(c)

Madurai

(d)

Coimbatore

_________ is the India's first biggest producer of rice.

(a)

Tamil Nadu

(b)

Kerala

(c)

West Bengal

(d)

Maharastra

The major contribution of the Tertiary Sector GSDP in Tamil Nadu.

(a)

63.70%

(b)

61%

(c)

62.70%

(d)

70%

___________ is the cloth market in South India for both retail and wholesale market.

(a)

Karur

(b)

Coimbatore

(c)

Erode

(d)

Trippur

Tamil Nadu accounts for leather exports and production about ___________ in the country.

(a)

60%

(b)

80%

(c)

50%

(d)

70%

The Asia's largest eco-friendly paper mill is____________.

(a)

National Paper Mills

(b)

International Paper APPM Limited

(c)

Subbu Paper Mills

(d)

TNPL

A statement of equality between two quantities is called

(a)

Inequality

(b)

Equality

(c)

Equations

(d)

Functions

Suppose determinant of a matrix Δ = 0, then the solution

(a)

Exists

(b)

Does not exist

(c)

is infinity

(d)

is zero

Fixed cost is the _____ term in cost function represented in mathematical form

(a)

Middle

(b)

Price

(c)

Quantity

(d)

Constant

The first differentiation of Total Revenue function gives

(a)

Average Revenue

(b)

Profit

(c)

Marginal Revenue

(d)

Zero

Integration is the reverse process of

(a)

Difference

(b)

Mixing

(c)

Amalgamation

(d)

Differentiation

______ declared that he wanted to reduce political and economic matters in terms of number, weight and measure

(a)

Sir William Petty

(b)

G. Cramex

(c)

J.M. Keynes

(d)

Marshall

A new slide can be inserted by 'click' on icon new slide' or using short cut key ____

(a)

Ctrl + M

(b)

Ctrl + Z

(c)

Ctrl + S

(d)

Ctrl + C

lCT stands for ______

(a)

Information and communication Technology

(b)

Indian council for Technology

(c)

International communication Technology

(d)

Information course for Technique

If X = -50 + 10P, then it is a _________ function

(a)

demand

(b)

supply

(c)

Identity

(d)

constant

The first known Economist to apply mathematical method to economic problems was____________.

(a)

J.M. Keynes

(b)

Adam Smith

(c)

JS.Mill

(d)

Giovanni Ceva