'Economics is a study of mankind in the ordinary business of life' - It is the statement of

(a)

Adam Smith

(b)

Lionel Robbins

(c)

Alfred Marshall

(d)

Samuelson

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

Total revenue is equal to total output sold multiplied by

(a)

Price

(b)

Total cost

(c)

Marginal revenue

(d)

Marginal cost

'Nomos' means

(a)

Police

(b)

Management

(c)

Household

(d)

None of these

________are transferable

(a)

Goods

(b)

Products

(c)

Commodities

(d)

All of these

______means using up of goods and services

(a)

Production

(b)

Consumption

(c)

Distribution

(d)

Exchange

Macro Economics is concerned with

(a)

The theory as a whole

(b)

Different sectors of an economy

(c)

The Study of individual economic behaviour

(d)

The interactions within the entire economy

The book "An essay on the Nature and significance of economic science" writen by.

(a)

Samuelson

(b)

Lional Robbins

(c)

Adam Smith

(d)

Marshall

The scarcity of a commodity is only in relation to its

(a)

Supply

(b)

Demand

(c)

Choice

(d)

None

Choice is always constrained or limited by the _______ of our resources.

(a)

Scarcity

(b)

Supply

(c)

Demand

(d)

Abundance

The basis for the law of demand is related to

(a)

Law of Diminishing Marginal Utility

(b)

Law of Supply

(c)

Law of Equi-Marginal Utility

(d)

Gossen's Law

A consumer is in equilibrium when marginal utilities from two goods are

(a)

Minimum

(b)

Inverse

(c)

Equal

(d)

Increasing

The concept of consumers surplus was introduced by ____

(a)

Alfred Marshall

(b)

J.R. Hicks

(c)

A.C. Pigon

(d)

J.K. Easthan

_____ of the following constitute 'demand' in economics

(a)

A desire to buy

(b)

A decision to buy

(c)

The purchasing power

(d)

All the above

The indifference curve are

(a)

vertical

(b)

horizontal

(c)

positive sloped

(d)

Negatively sloped

__ is a powerful factor that influence demand.

(a)

Expenses

(b)

Price

(c)

Income

(d)

Cominodity

Human wants are classified in to

(a)

Necessaries and Laxuries

(b)

Luxuries and comforts

(c)

Necessaries and comforts

(d)

Necessaries and Luxuries

Giffen goods are classified in to ________and___________ goods.

(a)

Superior

(b)

Inferior

(c)

Both (a) and (b)

(d)

None of the above

"Consumption is the sole end and object of economic activity" defined by

(a)

J.M. Keynes

(b)

Marshall

(c)

Jevons

(d)

J.R.Hicks

The man-made physical goods used to produce other goods and services are referred to as

(a)

Land

(b)

Labour

(c)

Capital

(d)

Organization

Mention the economies reaped from inside the firm

(a)

financial

(b)

technical

(c)

managerial

(d)

all of the above

The relationship between the price of a commodity and the supply of commodity is

(a)

Negative

(b)

Positive

(c)

Zero

(d)

Increase

Education and training given to labour is _____________

(a)

money capital

(b)

human capital

(c)

physical capital

(d)

none of the these

Land is subject to _____________

(a)

Law of Demand

(b)

Law of Variable Proportion

(c)

Law of Diminishing Returns

(d)

Law of Returns to Scale

Production refers to

(a)

Destruction of utility

(b)

Creation of utility

(c)

Exchange value

(d)

None

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

(a)

fixed

(b)

variable

(c)

real

(d)

social

The cost per unit of output is denoted by _____ cost.

(a)

average

(b)

marginal

(c)

variable

(d)

total

When price remains constant, AR will be _____ MR.

(a)

equal to

(b)

greater than

(c)

less than

(d)

not related to

A shop keeper sold 20 bags with the price of Rs. 100 each. The total revenue of the seller is Rs.

(a)

200

(b)

20

(c)

2000

(d)

1500

AC = 

(a)

AFC-AVC

(b)

AFC+AVC

(c)

AFC x AVC

(d)

AFC/AVC

MC curve always cuts AC in its ____________ point from below.

(a)

maximum

(b)

minimum

(c)

zero

(d)

none

Which of the following is a feature of monopolistic competition?

(a)

One seller

(b)

Few sellers

(c)

Product differentiation

(d)

No entry

Perfect competition assumes ____________

(a)

Luxury goods

(b)

Producer goods

(c)

Differentiated goods

(d)

Homogeneous goods

In which market form, does absence of competition prevail?

(a)

Perfect competition

(b)

Monopoly

(c)

Duopoly

(d)

Oligopoly

Very short period is also called ________ period

(a)

Long Period

(b)

Short Period

(c)

Market Period

(d)

None of these

These are _____ degrees of price discrimination.

(a)

One degree

(b)

Two degrees

(c)

Three degrees

(d)

Four degrees

A firm under monopoly faces a _______ sloping demand curve.

(a)

Upward

(b)

Downward

(c)

"U" shape

(d)

Vertical

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

Money wages are also known as

(a)

real wages

(b)

nominal wages

(c)

original wages

(d)

transfer wages

The distribution of income or wealth of a country among the individuals are

(a)

Functional distribution

(b)

Personal distribution

(c)

Goods distribution

(d)

Services distribution

Abstinence Theory of Interest was propounded by

(a)

Alfred Marshall

(b)

N.W. Senior

(c)

Bohm-Bawerk

(d)

Knut Wicksell

VMP= ____________.

(a)

MPP + Price

(b)

MPP x Price

(c)

MPP + Price

(d)

MPP - Price

Wages are divided into ___________ types.

(a)

One

(b)

Two

(c)

Three

(d)

Four

Organization is done by.

(a)

J.M.Keynes

(b)

Entrepreneur

(c)

Profit

(d)

Labour

_________ leads to reduction in the cost and bring profit to an entrepreneur.

(a)

Risk

(b)

Innovation

(c)

Change

(d)

Uncertainty

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

(a)

GNP

(b)

GDP

(c)

NNP

(d)

Per capita income

The year 1961 is known as ______

(a)

Year of small divide

(b)

Year of Population Explosion

(c)

Year of Urbanisation

(d)

Year of Great Divide

Gandhian Economics is based on the Principle

(a)

Socialistic idea

(b)

Ethical foundation

(c)

Gopala Krishna Gokhale

(d)

Dadabhai Naoroji

Natural resources are _____

(a)

Renewable resources

(b)

Non renewable resources

(c)

Land resources

(d)

All the above

_____ is the most densely populated state in the country.

(a)

Uttar Pradesh

(b)

Andra Pradesh

(c)

Bihar

(d)

Kerala

Give an example for Renewable Resources _______

(a)

Forests

(b)

Wild life

(c)

Biomass

(d)

Hydro energies

(e)

All the above.

Around_______________ of the people in India depend upon agriculture for thier livelihood.

(a)

60%

(b)

60.5%

(c)

55.5%

(d)

50%

In 1614 Sir Thomas Roe was successful in getting permission from

(a)

Akbar

(b)

Shajakan

(c)

Jahangir

(d)

Noorjakhan

The father of Green Revolution in India was __________

(a)

M.S. Swaminathan 

(b)

Gandhi

(c)

Visweswaraiah

(d)

N.R. Viswanathan

Annual plans formed in the year _________ .

(a)

1989 - 1991

(b)

1990 - 1992

(c)

2000 - 2001

(d)

1981 - 1983

Example for cash crops __

(a)

Sugarcane

(b)

Cotton and Jute

(c)

Oil seeds and potatoes

(d)

All of these

The aim of Securities and Exchange Board India is__________

(a)

To protect consumers

(b)

To protect people

(c)

To promote weaker sections

(d)

To protect the interest of investors

Steel Authority of India Ltd. (SAIL) was established in the year

(a)

1974

(b)

1970

(c)

1972

(d)

1971

The Arguments against LPG relate to ________

(a)

Economic growth

(b)

More investment

(c)

Disparities among people and regions

(d)

Modernization

Financial sector reforms mainly related to____

(a)

Insurance sector

(b)

Banking sector

(c)

Both a and b

(d)

Transport sector

______prices estimated by the Indian council of Agricultural Research.

(a)

Wholesale

(b)

Retail

(c)

Market

(d)

All the above

FDI is a

(a)

Foreign Direct Investment

(b)

Food Development Investment

(c)

Foreign Domestic Investment

(d)

None

In which year the MRTP Act was passed?

(a)

1965

(b)

1969

(c)

1962

(d)

1960

Identify the feature of rural economy.

(a)

Dependence on agriculture

(b)

High population density

(c)

Low level of population

(d)

Low level of inequality

___________ are inter related problems of an economy.

(a)

Unemployment

(b)

Poverty

(c)

Inequality

(d)

All the above

___________ is the backbone of India.

(a)

Industry

(b)

Agriculture

(c)

Mining

(d)

Manufacturing

Which of the following is wrongly matched?

(a)

Gateway of Tamil Nadu - Thoothukudi

(b)

Home textile city - Erode

(c)

Steel city - Salem

(d)

Pump city - Coimbatore

The TICEL park is

(a)

Rubber park

(b)

Textile park

(c)

Food park

(d)

Bio park

________ tyre manufacturer is located in Chennai and preambular.

(a)

MRF

(b)

TVS

(c)

Sri Chakra

(d)

TRW Rane

In population Tamil Nadu ranks

(a)

Second

(b)

Fifth

(c)

Sixth

(d)

Fourth

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

(a)

Exists

(b)

Does not exist

(c)

is infinity

(d)

is zero

The command Ctrl +M is applied for

(a)

Saving

(b)

Copying

(c)

Getting new slide

(d)

Deleting a slide

Formula for calculating consumer surplus ______

(a)

Q_d = Q_s

(b)

\(n_0{-P\over x}{dx\over dp}\)

(c)

\(CS=\left[\int_0^{x0}(x)dx \right]-xopo\)

(d)

\(P_S=xopo-\int_0^{xo}g(x)dx\)

The intersection of rows and columns is termed as ______

(a)

Table

(b)

Bar

(c)

Cell

(d)

Square

In a matrix, if the number of rows and columns are equal, it is called________ matrix.

(a)

null

(b)

identity

(c)

singular

(d)

square