"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

A market is

(a)

Only a place to buy things

(b)

Only a place to sell things

(c)

Only a place where prices adjust

(d)

A system where persons buy and sell goods directly or indirectly

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

What is the name for money Income.

(a)

Nominal Income

(b)

Real Income

(c)

Both

(d)

None

A good consumed by a single person.

(a)

Free Goods

(b)

Public good

(c)

Private good

(d)

None

Which of the following is covered in micro economics?

(a)

Consumer behaviour

(b)

External value of money

(c)

Employment and economic growth

(d)

National income

The movement on or along the given demand curve is known as ______

(a)

Extension and contraction of demand

(b)

shifts in the demand

(c)

increase and decrease in demand

(d)

all the above

The locus of the points which gives same level of satisfaction is associated with

(a)

Indifference Curves

(b)

Cardinal Analysis

(c)

Law of Demand

(d)

Law of Supply

Ordinal Utility can be measured by

(a)

Ranking

(b)

Numbering

(c)

Wording

(d)

None of these

__________ means using up goods & services.

(a)

Consumption

(b)

Production

(c)

Selling

(d)

Buying

The shape of unitary elastic demand (E_p = 1) curve is a ________.

(a)

Vertical line

(b)

Horizontal straight line

(c)

Rectangular hyberbola

(d)

Steeply sloping

The degree of responsiveness of a change in demand for a product due to the change in the income is known as __________

(a)

Price elasticity of demand

(b)

Income elasticity of demand

(c)

Cross elasticity of demand

(d)

Advertising elasticity of demand

In case of expansion of demand, the quantity demanded_____________.

(a)

increases

(b)

decreases

(c)

becomes zero

(d)

becomes constant

Indifference curves never intersect each other due to_______________.

(a)

different levels of satisfaction

(b)

same levels of satisfaction

(c)

convex to the origin

(d)

concave to the origin

Who said, that one of the key of an entrepreneur is "uncertainty-bearing".

(a)

J.B. Clark

(b)

Schumpeter

(c)

Knight

(d)

Adam Smith

Cobb - Douglas production function assumes

(a)

Increasing returns to scale

(b)

Diminishing returns to scale

(c)

Constant returns to scale

(d)

All of the above

Product obtained from additional factors of production is termed as

(a)

Marginal product

(b)

Total product

(c)

Average product

(d)

Annual product

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)

_____________ creates utility.

(a)

Consumption

(b)

Production

(c)

Distribution

(d)

Exchange

The two words 'ISO' and 'quant' are derived from ____________ language.

(a)

Latin

(b)

French

(c)

Greek

(d)

All the above

___________is the addition made to total product by an additional unit of input of the variable factors.

(a)

Total product

(b)

Average product

(c)

Marginal product

(d)

All of these

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

(a)

real

(b)

explicit

(c)

money

(d)

implicit

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

(a)

fixed

(b)

variable

(c)

real

(d)

social

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

(a)

variable

(b)

fixed

(c)

marginal

(d)

total

When price remains constant, AR will be _____ MR.

(a)

equal to

(b)

greater than

(c)

less than

(d)

not related to

The objective of a firm is to earn ___________ .

(a)

profit

(b)

loss

(c)

factors of production

(d)

market

A cost incurred in the past and cannot be recovered in future.

(a)

Money cost

(b)

Social cost

(c)

Fixed cost

(d)

Sunk cost

Identify the formula of estimating total cost.

(a)

TC/Q

(b)

TFC + TVC

(c)

TVC/Q

(d)

AFC/Q

All expenses that are directly associated with business activities but not with asset creation are known as______________

(a)

Floating cost

(b)

Fixed cost

(c)

Variable cost

(d)

Average cost

There is no excess capacity under _________

(a)

Monopoly

(b)

Monopolistic competition

(c)

Oligopoly

(d)

Perfect competition

Monopolistic competition is a form of __________

(a)

Oligopoly

(b)

Duopoly

(c)

Imperfect competition

(d)

Monopoly

Price leadership is the attribute of ________

(a)

Perfect competition

(b)

Monopoly

(c)

Oligopoly

(d)

Monopolistic competition

In which market form, does absence of competition prevail?

(a)

Perfect competition

(b)

Monopoly

(c)

Duopoly

(d)

Oligopoly

____________ lead to high cost to consumer under monopolistic competition.

(a)

Price

(b)

Product

(c)

Advertisement

(d)

Market-profit

The market structure in which there is only one buyer of a good is called_____________.

(a)

Monopoly

(b)

Duopoly

(c)

Oligopoly

(d)

Monopsony

The reward for labour is

(a)

rent

(b)

wage

(c)

profit

(d)

interest

Keynesian Theory of interest is popularly known as

(a)

Abstinence Theory

(b)

Liquidity Preference Theory

(c)

Loanable Funds Theory

(d)

Agio Theory

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

"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

Who is the author of the rent theory of profit?

(a)

Ricardo

(b)

Profit - Walker

(c)

Howlay

(d)

Walker

Organization is done by.

(a)

J.M.Keynes

(b)

Entrepreneur

(c)

Profit

(d)

Labour

___________side of factor is operating the marginal productivity theory.

(a)

Supply

(b)

Demand

(c)

Production

(d)

Investment

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

The weakness of Indian Economy is _____

(a)

Economic disparities

(b)

Mixed economy

(c)

Urbanisation

(d)

Adequate employment opportunities

The number of deaths per thousand of population is called as ______

(a)

Crude Death Rate

(b)

Crude Birth Rate

(c)

Crude Infant Rate

(d)

Maternal Mortality Rate

Who introduced the National Development Council in India?

(a)

Ambedkar

(b)

Jawaharlal Nehru

(c)

Radhakrishnan

(d)

V.K.R. V. Rao

The major deposit of magnetite iron is available

(a)

Madhya Pradesh

(b)

Uttar Pradesh

(c)

Western coast of Karnataka

(d)

All the above

____________ is a key ingredient of the growth of any economy.

(a)

Urbanization

(b)

Rural development

(c)

Village cluster

(d)

All the above

Much of the work done by Ambedkar during his stay abroad was in the field of _____________.

(a)

Law

(b)

Medicine

(c)

Political Science

(d)

Finance Economics

In 1614 Sir Thomas Roe was successful in getting permission from

(a)

Akbar

(b)

Shajakan

(c)

Jahangir

(d)

Noorjakhan

The power for governance of India was transferred from the East India Company (EIC) to the British crown in

(a)

1758

(b)

1858

(c)

1958

(d)

1658

How many commercial banks were nationalised in 1969?

(a)

10

(b)

12

(c)

14

(d)

16

Tenth five year plan period was ___________ .

(a)

1992 - 1997

(b)

2002 - 2007

(c)

2007 - 2012

(d)

1997 - 2002

The main theme of the Twelth Five Year Plan

(a)

faster and more inclusive growth

(b)

growth with social Justice

(c)

socialistic pattern of society

(d)

faster, more inclusive and sustainable growth

__ introduced 'permanent settlement Act'.

(a)

 Lord Cornwallis

(b)

Lord William Bentinck

(c)

Jahangir

(d)

Visweswaraiah

Public Sector banks are classified into __________ categories.

(a)

One

(b)

Two

(c)

Three

(d)

Four

In Indian nearly _____ of population lived in rural areas.

(a)

60%

(b)

70%

(c)

80%

(d)

65%

Oil and Natural Gas Commission (ONGC) was established_______

(a)

1950

(b)

1952

(c)

1954

(d)

1956

The investment in equipment of Micro service Enterprises does not exceed__________.

(a)

20 Lakhs

(b)

10 Lakhs

(c)

5 Lakhs

(d)

25 Lakhs

Expansion of FDI____

(a)

Foreign Private Investment

(b)

Foreign Portfolio

(c)

Foreign Direct Investment

(d)

Forex Private Investment

Agricultural Produce Market Committee is a _____.

(a)

Advisory body

(b)

Statutory body

(c)

Both a and b

(d)

None of these

Goods and Services Tax is _____

(a)

a multi point tax

(b)

having cascading effects

(c)

like Value Added Tax

(d)

a single point tax with no cascading effects

The farmers have access to credit under Kisan credit card scheme through the following except

(a)

Co-operative banks

(b)

RRBs

(c)

Public sector banks

(d)

all the above

The first ever SEZ in India was set up at

(a)

Mumbai

(b)

Chennai

(c)

Kandla

(d)

Cochin

Indian economy has achieved a remarkable rate of growth in ______.

(a)

Industry

(b)

Service

(c)

(a) only

(d)

Both

At present, 100 percent FDI is allowed in______________.

(a)

Defence

(b)

Drugs and pharmaceuticals

(c)

Banks

(d)

Insurance

Vishesh Krishi Upaj Yojana has been started for____________.

(a)

Agricultural export

(b)

Export of services

(c)

Export of handlooms and handicrafts

(d)

Export of gems and jewellery

DFEC stands for_____________.

(a)

Direct Foreign Exchange Control

(b)

Direct Finance Exchange Control

(c)

Duty Free Export Credit

(d)

Duty Free Exchange Credit

FPI stands for____________.

(a)

Foreign Private Investment

(b)

Foreign Public Investment

(c)

Foreign Portfolio Investment

(d)

None of these

Which feature is identified with rural areas?

(a)

Low population density

(b)

High population density

(c)

Low natural resources

(d)

Low human resources

What is the other name for concealed unemployment?

(a)

Open

(b)

Disguised

(c)

Seasonal

(d)

Rural

Identify an example for rural industries?

(a)

Sugar factory

(b)

Mat making industry

(c)

Cement industry

(d)

Paper industry

Identify the advantages of rural roads.

(a)

Rural marketing

(b)

Rural employment

(c)

Rural development

(d)

All the above

"An Indian farmer is born in debt, lives in debt, dies in debt and bequeaths debt" - who said this?

(a)

Adam Smith

(b)

Gandhi

(c)

Amartya sen

(d)

Sir Malcolm Darling

Self - Help Groups (SHGs)

(a)

Informal voluntary association

(b)

Formal voluts

(c)

None of these

(d)

All the above

"One side villages are empty, on the otherside towns are congested" ______who said this?

(a)

Nehru

(b)

Alfred Marshall

(c)

Amartyasen

(d)

Schumacher

____________should minimise the gap between rural and urban areas.

(a)

Rural Development

(b)

Agrian Development

(c)

Industrial Development

(d)

None

_______________Prevalent in the society in crease unproductive expenditure.

(a)

Social Evils

(b)

Housing

(c)

Health

(d)

Industry

Rural people are forced to migrate from villages to urban areas in order to seek gainful ___________

(a)

Political power

(b)

recreation

(c)

employment

(d)

married life

Frictional unemployment is a ________ phenomenon.

(a)

permanent

(b)

temporary

(c)

long term

(d)

none of these

In literacy rate, TN ranks

(a)

second

(b)

fourth

(c)

sixth

(d)

eighth

Which district in TN has the highest sex ratio?

(a)

Nagapattinam

(b)

Nilgiris

(c)

Tiruchirappalli

(d)

Thanjavur

Which Union Territory has the highest sex ratio?

(a)

Chandigarh

(b)

Pondicherry

(c)

Lakshadeep

(d)

Andaman Nicobar

In human development index, TN is ranked

(a)

second

(b)

fourth

(c)

sixth

(d)

seventh

SPIC is located in

(a)

Chennai

(b)

Madurai

(c)

Tuticorin

(d)

Pudukkottai

Tamil Nadu has __ major international airports.

(a)

One

(b)

Two

(c)

Three

(d)

Four

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

(a)

Chennai

(b)

Kolkata

(c)

Madurai

(d)

Coimbatore

The total length of the mettur dam is ___ meters.

(a)

1600 m

(b)

1700 m

(c)

1800 m

(d)

1500 m

The per capita GSDP of Tamil Nadu is_______________.

(a)

$2500

(b)

$2200

(c)

$2000

(d)

$1670

Which state is third rank in Cement Production in India?

(a)

Karnataka

(b)

Kashmir

(c)

Tamil Nadu

(d)

Gujarat

The first person used the mathematics in Economics is

(a)

Sir William Petty

(b)

Giovanni Ceva

(c)

Adam Smith

(d)

Irving Fisher

A statement of equality between two quantities is called

(a)

Inequality

(b)

Equality

(c)

Equations

(d)

Functions

Suppose D = 50 - 5P. When D is zero then

(a)

P is 10

(b)

P is 20

(c)

P is 5

(d)

P is -10

Differentiation of constant term gives

(a)

one

(b)

zero

(c)

infinity

(d)

non-infinity

If x+y = 5 and x-y = 3 then, value of x

(a)

4

(b)

3

(c)

16

(d)

8

Functions, with more or equal to two independent variables, are called________ functions.

(a)

Simple Univariate functions

(b)

Multivariable functions

(c)

Both 'a' and 'b'

(d)

None of these

lCT stands for ________

(a)

Information and Communication Technology

(b)

Indian Council for Technology

(c)

International Communication Technology

(d)

Information Course for Technique

Suppose D = 200 - 40P. When D is zero then

(a)

P is 10

(b)

P is 5

(c)

P is -5

(d)

P is -10

If AB = BA = | A | If then the matrix B is __________

(a)

inverse of A

(b)

the transpose of A

(c)

the adjoint of A

(d)

2A

The rank of zero matrix is _______

(a)

0

(b)

1

(c)

-1

(d)

∞