QUIZ 6 :- ECONOMICS

Question No.:- 1 In India, the first bank of limited liability managed by Indians and founded in 1881 was:
A)Hindustan Commercial Bank
B)Oudh Commercial Bank
C)Punjab National Bank
D)Punjab and Sind Bank



Question No.:- 2 Dumping' in the context of international trade refers to:
A)exporting goods at prices below the actual cost of production
B)exporting goods without paying the appropriate taxes in the receiving country
C)exporting goods of inferior quality
D)exporting goods only to re-import them at cheaper rates



Question No.:- 3 The standard of living in a country is represented by its:
A)national income
B)per capita income
C)poverty ratio
D)unemployment rate



Question No.:- 4 The main argument advanced in favour of small scale and cottage industries in India is that:
A)cost of production is low
B)they require small capital investment
C)they advance the goal of equitable distribution of wealth
D)they generate a large volume of employment



Question No.:-5 Which one of the following is the most important item of non-plan expenditure?
A)Interest payment      
B)Defence
C)Fertilizer subsidies    
D)Loans to public enterprises



Question No.:- 6 An indifference curve for an individual consumer represents graphically  
A)the quantities of one good which are equal to quantities of another good
B)the way in which a consumer spends his income on two goods
C)the possible combination of two goods which he can buy with his income.
D)Combinations of two goods which have the same marginal utility



Question No.:- 7 Which of the following businesses would probably find it easiest to borrow money from complete strangers? 
A)A private joint stock company
B)A public joint stock company
C)A partnership of 50 years standing
D)Any partnership



Question No.:- 8 Gross profit is:
A)excess of sales over cost of goods sold
B)sales less purchases
C)cost of goods sold + opening stock
D)net profit less expenses of the period



Question No.:- 9 A public enterprise is distin­guished from a private enterprise by whether it:
A)is making a loss on its trading account
B)is owned by the government
C)is owned by more than seven persons
D)has issued shares to the general public



Question No.:- 10 Devaluation of currency by a country is meant to lead to:
1. expansion of import trade    2. promotion of import substitution   
3. expansion of export trade
A)1 only
B)2 and 3
C)1 and 2                     
D)1 and 4


NJOY...
THIS QUIZ IS LIL BIT TRICKY....