McqMate
| 1. |
Demand for a commodity refers to: |
| A. | Need for the commodity |
| B. | Desire for the commodity |
| C. | Amount of the commodity demanded at a particular price and at a particular time |
| D. | Quantity demanded of that commodity |
| 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, an increase in its price will cause the total expenditure of the consumers of the good to: |
| A. | Increase |
| B. | Decrease |
| C. | Remain the same |
| D. | Become zero |
| Answer» A. Increase | |
| 3. |
Income elasticity of demand is defined as the responsiveness of: |
| A. | Quantity demanded to a change in income |
| B. | Quantity demanded to a change in price |
| C. | Price to a change in income |
| D. | Income to a change in quantity demanded |
| Answer» A. Quantity demanded to a change in income | |
| 4. |
The supply of a good refers to: |
| A. | Stock available for sale |
| B. | Total stock in the warehouse |
| C. | Actual Production of the goo |
| D. | D. Quantity of the good offered for sale at a particular price per unit of time |
| Answer» D. D. Quantity of the good offered for sale at a particular price per unit of time | |
| 5. |
In the short run, when the output of a firm increases, its average fixed cost: |
| A. | Remains constant |
| B. | Decreases |
| C. | Increases |
| D. | First decreases and then rises |
| Answer» B. Decreases | |
| 6. |
The cost of one thing in terms of the alternative given up is called: |
| A. | Real cost |
| B. | Production cost |
| C. | Physical cost |
| D. | Opportunity cost |
| Answer» D. Opportunity cost | |
| 7. |
In which of the following market structure is the degree of control over the price of its product by a firm very large? |
| A. | Imperfect competition |
| B. | Perfect competition |
| C. | Monopoly |
| D. | In A and B both |
| Answer» C. Monopoly | |
| 8. |
Demand for factors of production is: |
| A. | Derived demand |
| B. | Joint demand |
| C. | Composite deman |
| D. | D None of the above |
| Answer» A. Derived demand | |
| 9. |
The producer’s demand for a factor of production is governed by the ___ of that factor. |
| A. | Price |
| B. | Marginal productivity |
| C. | Availability |
| D. | Profitability |
| Answer» B. Marginal productivity | |
| 10. |
Who is the ‘lender of the last resort’ in the banking structure of India? |
| A. | State Bank of India |
| B. | Reserve Bank of India |
| C. | EXIM Bank of India |
| D. | Union Bank of India |
| Answer» B. Reserve Bank of India | |
| 11. |
____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks. |
| A. | Repo rate |
| B. | Bank rate |
| C. | Prime lending rate |
| D. | Reverse repo rate |
| Answer» B. Bank rate | |
| 12. |
Which among the following is a function of the Reserve Bank of India? |
| A. | Bank issues the letters of credit to their customers certifying their creditability |
| B. | Collecting and compilation of statistical information relating to banking & other financial sectors |
| C. | Banks under write the securities issued by public or private organizations |
| D. | Accepting deposits from the public |
| Answer» B. Collecting and compilation of statistical information relating to banking & other financial sectors | |
| 13. |
The following is the direct tax among: |
| A. | House tax |
| B. | Entertainment tax |
| C. | Service tax |
| D. | Value added tax |
| Answer» A. House tax | |
| 14. |
Which among the following is a cause of inflation? |
| A. | Deficit financing |
| B. | Rise in external loans |
| C. | Unfavorable balance of payment |
| D. | A hike in the CRR by the central bank of the country |
| Answer» A. Deficit financing | |
| 15. |
The capital that is consumed by an economy or a firm in the production process is known as: |
| A. | Capital loss |
| B. | Production cost |
| C. | Dead-weight loss |
| D. | Depreciation |
| Answer» D. Depreciation | |
| 16. |
Which of the following is also known as International Bank for Reconstruction and Development? |
| A. | Asian Development Bank |
| B. | World Bank |
| C. | Reserve Bank of India |
| D. | International Monetary Fund |
| Answer» B. World Bank | |
| 17. |
A change in fiscal policy affects the balance of payments through: |
| A. | The current account only |
| B. | The capital account only |
| C. | Both, the current account and capital account |
| D. | Neither current account nor capital account |
| Answer» C. Both, the current account and capital account | |
| 18. |
Fiscal Policy means: |
| A. | Policy relating to money and banking in a country |
| B. | Policy relating to non-banking financial institutions |
| C. | Policy relating to government spending’ taxation and borrowing |
| D. | Policy relating to financial matters of international trade |
| Answer» C. Policy relating to government spending’ taxation and borrowing | |
| 19. |
Which one of the following is NOT the objective of fiscal policy of government of India? |
| A. | Full employment |
| B. | Price stability |
| C. | Regulation of inter-state trade |
| D. | Economic growth |
| Answer» C. Regulation of inter-state trade | |
| 20. |
Monetary policy is implemented by in India. |
| A. | The Ministry of Finance |
| B. | Planning Commission |
| C. | The Parliament |
| D. | Reserve Bank of India |
| Answer» D. Reserve Bank of India | |
| 21. |
The most simple and popular method of measuring economic development is to calculate the trend of gross national product (GNP) at __________ |
| A. | Current prices |
| B. | Constant prices |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Constant prices | |
| 22. |
By __ growth rate of an economy can be speeded up. |
| A. | Investment in share market |
| B. | Investment abroad |
| C. | Investment in human capital formation |
| D. | Investment in primary sector |
| Answer» C. Investment in human capital formation | |
| 23. |
When national income is calculated with reference to a base year, it is called: |
| A. | Nominal national income |
| B. | Net national income |
| C. | Real national income |
| D. | Gross national income |
| Answer» C. Real national income | |
| 24. |
Which market structure symbolizes the existence of ‘few sellers’? |
| A. | Oligopoly |
| B. | Monopoly |
| C. | Monopolistic competition |
| D. | Perfect competition |
| Answer» A. Oligopoly | |
| 25. |
Which among the following are the factors that determine the national income of a country? |
| A. | Quantity and Quality of factors of production |
| B. | The state of technical knowledge |
| C. | Economic and political stability |
| D. | All of the above |
| Answer» D. All of the above | |
| 26. |
Management is a creative and ________ process. |
| A. | Continuous |
| B. | Technical |
| C. | Democratic |
| D. | None of the above |
| Answer» A. Continuous | |
| 27. |
Which type of strategies do professional managers help organizations in chalking out? |
| A. | Multi-disciplinary |
| B. | Corporate |
| C. | Managerial |
| D. | All of the above |
| Answer» B. Corporate | |
| 28. |
Management exists at the ______ level of the organization. |
| A. | Lower |
| B. | Middle |
| C. | Top |
| D. | All of the above |
| Answer» D. All of the above | |
| 29. |
Management is said to be the combination of |
| A. | Arts, science and profession |
| B. | Arts, science and engineering |
| C. | Arts, commerce and science |
| D. | Arts, commerce and engineering |
| Answer» A. Arts, science and profession | |
| 30. |
______ is supposed to be immutable, unchanging and eternal. |
| A. | Policy |
| B. | Vision |
| C. | Mission |
| D. | All of the above |
| Answer» A. Policy | |
| 31. |
Positive motivation makes people willing to do their work in the best way they can and improve their ________. |
| A. | Productivity |
| B. | Personality |
| C. | Performance |
| D. | All of the above |
| Answer» C. Performance | |
| 32. |
The objective in corporate governance is |
| A. | Shareholder value maximization |
| B. | Growth |
| C. | Stability |
| D. | All of the above |
| Answer» D. All of the above | |
| 33. |
The heart of administration is the _____ function. |
| A. | Directing |
| B. | Organizing |
| C. | Controlling |
| D. | Cooperating |
| Answer» A. Directing | |
| 34. |
Direction is a ________ function performed by all the managers at all levels of the organization. |
| A. | Managerial |
| B. | Organizational |
| C. | Both A and B |
| D. | None of the above |
| Answer» A. Managerial | |
| 35. |
_______ is a tool for corporate governance. |
| A. | Training |
| B. | Recruitment |
| C. | Communication |
| D. | Consulting |
| Answer» C. Communication | |
| 36. |
The internal environment factor that influence management is |
| A. | Labor |
| B. | Machines |
| C. | Place |
| D. | All of the above |
| Answer» D. All of the above | |
| 37. |
Management is said to be the combination of three factors, arts, science and the third is |
| A. | Profession |
| B. | Authority |
| C. | Communication |
| D. | None of the above |
| Answer» A. Profession | |
| 38. |
One of the popular forecast is |
| A. | Technological |
| B. | Economi |
| C. | C Deman |
| D. | D None of the above |
| Answer» C. C Deman | |
| 39. |
Limitation of business planning is |
| A. | Time consuming |
| B. | Expensive device |
| C. | Heavy cost of planning |
| D. | All of the above |
| Answer» D. All of the above | |
| 40. |
In management process, the most misinterpreted word is |
| A. | Organizing |
| B. | Delegating |
| C. | Controlling |
| D. | Planning |
| Answer» A. Organizing | |
| 41. |
Management as a discipline is the function of ____. |
| A. | Science |
| B. | Art |
| C. | Creativity |
| D. | All of the above |
| Answer» C. Creativity | |
| 42. |
The word _______ denotes a function, a task, a discipline. |
| A. | Management |
| B. | Leadership |
| C. | Motivation |
| D. | None of the above |
| Answer» A. Management | |
| 43. |
Costliness of the ________ is the overriding factor determining the extent of decentralization. |
| A. | Decision |
| B. | Staffing |
| C. | Controlling |
| D. | Managing |
| Answer» A. Decision | |
| 44. |
______ is a tool for corporate governance. |
| A. | Management |
| B. | Communication |
| C. | Coordination |
| D. | All of the above |
| Answer» B. Communication | |
| 45. |
The higher the ________ level of the employee, the lower the job satisfaction. |
| A. | Managerial |
| B. | Educational |
| C. | Satisfaction |
| D. | None of the above |
| Answer» B. Educational | |
| 46. |
Management is a creative and ________ process. |
| A. | Systematic |
| B. | Continuous |
| C. | Long |
| D. | None of the above |
| Answer» B. Continuous | |
| 47. |
Economics is a study of wealth(Assets) said by _____. |
| A. | Adam smith |
| B. | Alfred marshall |
| C. | Lionel robbins |
| D. | None of the above |
| Answer» A. Adam smith | |
| 48. |
In concept of Economics, Macro means _____. |
| A. | Small |
| B. | Large |
| C. | Middle |
| D. | All of the above |
| Answer» B. Large | |
| 49. |
In concept of Economics, Micro means _____. |
| A. | Small |
| B. | Large |
| C. | Middle |
| D. | All of the above |
| Answer» A. Small | |
| 50. |
Quantity of a product people are willing to buy at a certain price is known as ______. |
| A. | Supply |
| B. | Supply relationship |
| C. | Deman |
| D. | D Demand relationship |
| Answer» C. Deman | |
| 51. |
Quantity of a certain goods producers are willing to supply when receiving a certain price is known as ______. |
| A. | Supply |
| B. | Supply relationship |
| C. | Deman |
| D. | D Demand relationship |
| Answer» A. Supply | |
| 52. |
A point where the quantity of goods being supplied is exactly the same as the quantity of goods being demanded is known as _______ |
| A. | Demand quantity |
| B. | Supply Quantity |
| C. | Both A and B |
| D. | Equilibrium |
| Answer» D. Equilibrium | |
| 53. |
If all other factors remain equal, the higher the price of a good, the fewer people will demand that good means what? |
| A. | The law of demand |
| B. | The law of supply |
| C. | All A and B |
| D. | None of the above |
| Answer» A. The law of demand | |
| 54. |
Producers supply more at a higher price because selling more quantity at higher price increase revenue means what? |
| A. | The law of demand |
| B. | The law of supply |
| C. | All A and B |
| D. | None of the above |
| Answer» B. The law of supply | |
| 55. |
Which are the factors of production? |
| A. | Land |
| B. | Labor |
| C. | Capital |
| D. | All of the above |
| Answer» D. All of the above | |
| 56. |
Which is the stages of law of variable proportions? |
| A. | Increasing returns |
| B. | Decreasing returns |
| C. | Negative Marginal returns |
| D. | All of the above |
| Answer» D. All of the above | |
| 57. |
Which is the stages of law of returns to scale? |
| A. | Increasing returns to scale |
| B. | Constant returns to scale |
| C. | Diminishing returns to scale |
| D. | All of the above |
| Answer» D. All of the above | |
| 58. |
Which is not a part of cost? |
| A. | Total Cost |
| B. | Average cost |
| C. | Changeable Cost |
| D. | Sunk Cost |
| Answer» C. Changeable Cost | |
| 59. |
To find out cut-off production volume means no profit no loss which concept is used? |
| A. | Law of variable proportion |
| B. | Break-Even Analysis |
| C. | Law of returns to scale |
| D. | None of the above |
| Answer» B. Break-Even Analysis | |
| 60. |
Total Cost equals to ______. |
| A. | Total cost = total fixed cost + total variable cost |
| B. | Total cost = total fixed cost + total marginal cost |
| C. | Total cost = total variable cost + total marginal cost |
| D. | None of the above |
| Answer» A. Total cost = total fixed cost + total variable cost | |
| 61. |
Where is exchange of goods and services take place? |
| A. | Company |
| B. | Production |
| C. | Market |
| D. | None of the above |
| Answer» C. Market | |
| 62. |
Which is the type of market? |
| A. | Monopoly |
| B. | Oligopoly |
| C. | Perfect competition |
| D. | All of the above |
| Answer» D. All of the above | |
| 63. |
_______ refers to a market with a single seller. |
| A. | Monopoly |
| B. | Oligopoly |
| C. | Perfect competition |
| D. | All of the above |
| Answer» A. Monopoly | |
| 64. |
Full form of GNP. |
| A. | Gross Natural Price |
| B. | Global Natural Product |
| C. | Global National Price |
| D. | Gross National Product |
| Answer» D. Gross National Product | |
| 65. |
Full form of GDP. |
| A. | Gross Domestic Products |
| B. | Global Domestic Products |
| C. | Gross Domestic Price |
| D. | Global Domestic Price |
| Answer» A. Gross Domestic Products | |
| 66. |
What is Disposable Personal Income? |
| A. | DPI = PI – Income Tax paid |
| B. | DPI = Income Tax paid – PI |
| C. | DPI = PI – PI |
| D. | None of the above |
| Answer» A. DPI = PI – Income Tax paid | |
| 67. |
_______ is about not having enough money to meet basic needs including Food, Clothing and Home. |
| A. | Poverty |
| B. | Labor |
| C. | Unemployment |
| D. | None of the above |
| Answer» A. Poverty | |
| 68. |
A situation in which a person is jobless is knows as _____. |
| A. | Poverty |
| B. | Labor |
| C. | Unemployment |
| D. | None of the above |
| Answer» C. Unemployment | |
| 69. |
Which is the types of unemployment? |
| A. | Cyclical unemployment |
| B. | Structural unemployment |
| C. | Seasonal unemployment |
| D. | All of the above |
| Answer» D. All of the above | |
| 70. |
______ is defined as a continuous increase in the general level of prices for goods and services |
| A. | Poverty |
| B. | Inflation |
| C. | Unemployment |
| D. | None of the above |
| Answer» B. Inflation | |
| 71. |
_______ is an economic good that acts as a medium of exchange in transaction. |
| A. | Money |
| B. | Production |
| C. | Equipment |
| D. | None of the above |
| Answer» A. Money | |
| 72. |
Identify the function of money. |
| A. | Medium of exchange |
| B. | Measure of value |
| C. | Store of value |
| D. | All of the above |
| Answer» D. All of the above | |
| 73. |
Which one is known as plastic money? |
| A. | Coin |
| B. | Printed currency note |
| C. | Credit or Debit cards |
| D. | All of the above |
| Answer» C. Credit or Debit cards | |
| 74. |
From which policy government adjusts its spending levels and tax rates to monitor and influence a nation’s economy. |
| A. | Fiscal policy |
| B. | Government policy |
| C. | RBI policy |
| D. | None of the above |
| Answer» A. Fiscal policy | |
| 75. |
Financial activities done by bank is called _____. |
| A. | Transaction |
| B. | Operation |
| C. | Banking |
| D. | None of the above |
| Answer» C. Banking | |
| 76. |
Which is the function of bank? |
| A. | Acceptance of Deposits |
| B. | Advances of Loans |
| C. | Both A and B |
| D. | None of the above |
| Answer» C. Both A and B | |
| 77. |
______ is India’s central banking institution, which controls the monetary policy of the Indian rupee. |
| A. | RBI |
| B. | CBI |
| C. | SBI |
| D. | All of the above |
| Answer» A. RBI | |
| 78. |
Which is the function of RBI? |
| A. | Issue of currency notes |
| B. | Banker to government |
| C. | Controller of credit |
| D. | All of the above |
| Answer» D. All of the above | |
| 79. |
________ is a science as well as an art. |
| A. | Management |
| B. | Production |
| C. | Banking |
| D. | None of the above |
| Answer» A. Management | |
| 80. |
Which is types of Management? |
| A. | Top management |
| B. | Middle level management |
| C. | Lower level management |
| D. | All of the above |
| Answer» D. All of the above | |
| 81. |
______ is the ultimate source of authority. |
| A. | Top management |
| B. | Middle level management |
| C. | Lower level management |
| D. | All of the above |
| Answer» A. Top management | |
| 82. |
Which is the skills of management? |
| A. | Conceptual skills |
| B. | Human skills |
| C. | Technical skill |
| D. | All of the above |
| Answer» D. All of the above | |
| 83. |
Which is the principles of management? |
| A. | Division of work |
| B. | Authority and responsibility |
| C. | Unity of Direction |
| D. | All of the above |
| Answer» D. All of the above | |
| 84. |
Which is the function of management? |
| A. | Planning |
| B. | Organizing |
| C. | Staffing |
| D. | All of the above |
| Answer» D. All of the above | |
| 85. |
_______ is function of management. |
| A. | Production |
| B. | Staffing |
| C. | Transaction |
| D. | None of the above |
| Answer» B. Staffing | |
| 86. |
______ is an organized group of people with a particular purpose. |
| A. | Organization |
| B. | Management |
| C. | Company |
| D. | None of the above |
| Answer» A. Organization | |
| 87. |
Which one is the characteristics of organization? |
| A. | Assigning the duties |
| B. | Division of work |
| C. | Coordination |
| D. | All of the above |
| Answer» D. All of the above | |
| 88. |
Function of organization is _________. |
| A. | Specialization |
| B. | Coordination |
| C. | Efficient functioning |
| D. | All of the above |
| Answer» D. All of the above | |
| 89. |
Which is the types of organization? |
| A. | Line organization |
| B. | Staff organization |
| C. | Committee organization |
| D. | All of the above |
| Answer» D. All of the above | |
| 90. |
Power and authority is kept under top management is known as? |
| A. | Centralization |
| B. | Decentralization |
| C. | Both A and B |
| D. | None of the above |
| Answer» A. Centralization | |
| 91. |
Which is the characteristics of corporate social responsibility(CSR) |
| A. | Continuous process |
| B. | Two-way process |
| C. | Concerned with social prestige |
| D. | All of the above |
| Answer» D. All of the above | |
| 92. |
Which is the advantages of corporate social responsibility(CSR) |
| A. | Satisfied employees |
| B. | Commitment with stakeholders |
| C. | Costs reductions |
| D. | All of the above |
| Answer» D. All of the above | |
| 93. |
The total demand for goods and services in an economy is known as |
| A. | Aggregate demand |
| B. | National demand |
| C. | Gross national product |
| D. | Economy wide demand |
| Answer» A. Aggregate demand | |
| 94. |
A Recession is ______ |
| A. | A period of declining prices |
| B. | A period during which aggregate output declines |
| C. | A period of declining unemployment |
| D. | A period of falling trade volumes |
| Answer» B. A period during which aggregate output declines | |
| 95. |
Macroeconomics Is The Branch Of Economics That Deals With |
| A. | The Economy As A Whole |
| B. | Imperfectly Competitive Markets |
| C. | Only The Long Run Adjustments To Equilibrium In The Economy |
| D. | None of the above |
| Answer» A. The Economy As A Whole | |
| 96. |
The Practice Of Using Fiscal And Monetary Policy To Stabilize The Economy Is Known as |
| A. | Fine Tuning Of Demand |
| B. | Monetarism |
| C. | Laissez Faire Economics |
| D. | Supply Side Economics |
| Answer» A. Fine Tuning Of Demand | |
| 97. |
According To The Classical Economists, The Economy |
| A. | Requires Fine Tuning To Reach Full Employment |
| B. | Should Not Be Left To Market Forces |
| C. | Will Never Be At Full Employment |
| D. | Is Self-Correcting |
| Answer» D. Is Self-Correcting | |
| 98. |
Identify The Three Motives Of Money Demand: |
| A. | Accumulative, Speculative, Precautionary |
| B. | Speculative, Transaction, Precautionary |
| C. | Precautionary Special, Transaction |
| D. | None |
| Answer» B. Speculative, Transaction, Precautionary | |
| 99. |
The Rate At Which Central Bank Lends To Commercial Banks Is Known As: |
| A. | Reserve Rate |
| B. | Discount Rate |
| C. | Open Market Operation |
| D. | None |
| Answer» B. Discount Rate | |
| 100. |
An Expansionary Fiscal Policy Can: |
| A. | Raise The National Debt |
| B. | Decrease The National Debt |
| C. | Have No Effect On National Debt |
| D. | None of the above |
| Answer» A. Raise The National Debt | |
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