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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q1. Economics is a science because</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Systematised study</p>
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<p style="margin-top: 0; margin-bottom: 0;">Scientific laws</p>
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<p style="margin-top: 0; margin-bottom: 0;">Has its own methodlogy</p>
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<p style="margin-top: 0; margin-bottom: 0;">All the above</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q2. Positive statement concern what is normative statements concern</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">What was</p>
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<p style="margin-top: 0; margin-bottom: 0;">What is the normal situation</p>
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<p style="margin-top: 0; margin-bottom: 0;">What will be</p>
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<p style="margin-top: 0; margin-bottom: 0;">what ought to be</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q3. The objective of macro economics is to study:</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Problems , principles and policies relating to full employment of available resources</p>
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<p style="margin-top: 0; margin-bottom: 0;">Problems, Principles and policies , relating to optimum allocation of resources</p>
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<p style="margin-top: 0; margin-bottom: 0;">Growth of resources</p>
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<p style="margin-top: 0; margin-bottom: 0;">Both (a) and (c)</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q4. Micro Economics covers the study of</p>
<p style="margin-top: 0; margin-bottom: 0;">(i)Consumers behaviour (ii) Producers equilibrium (iii) Fiscal system of an economy</p>
<p style="margin-top: 0; margin-bottom: 0;">(iv) Factor pricing</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">(i) and (iii)</p>
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<p style="margin-top: 0; margin-bottom: 0;">(ii) and (iv)</p>
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<p style="margin-top: 0; margin-bottom: 0;">(i), (ii) and (iii)</p>
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<p style="margin-top: 0; margin-bottom: 0;">(i), (ii)and (iv)</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q5. “ During the boom periods when aggregate demand , national income and prices are high , entrepreneurs tend to make high pofits”. This statement shows:</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Effect of micro- economic variables on macro varaibles</p>
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<p style="margin-top: 0; margin-bottom: 0;">Effect of macro- economic variables on micro variables</p>
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<p style="margin-top: 0; margin-bottom: 0;">Inter-dependence of micro and macro economics</p>
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<p style="margin-top: 0; margin-bottom: 0;">Both (b) and (c)</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q6. Which of the following is not a feature of socialist economy?</p>
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<p style="margin-top: 0; margin-bottom: 0;">3</p>
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<p style="margin-top: 0; margin-bottom: 0;">Economic planning</p>
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<p style="margin-top: 0; margin-bottom: 0;">Social welfare</p>
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<p style="margin-top: 0; margin-bottom: 0;">Private ownership of productive resources</p>
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<p style="margin-top: 0; margin-bottom: 0;">Economic equalities</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q7. Economics is an art as</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">it teaches us to do</p>
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<p style="margin-top: 0; margin-bottom: 0;">it provides pratical solutions to various economic problems</p>
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<p style="margin-top: 0; margin-bottom: 0;">it is practice of knowelede</p>
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<p style="margin-top: 0; margin-bottom: 0;">all the above</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q8. Framing suitable policies to solve inequalities of income demotes that economics is</p>
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<p style="margin-top: 0; margin-bottom: 0;">2</p>
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<p style="margin-top: 0; margin-bottom: 0;">a science</p>
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<p style="margin-top: 0; margin-bottom: 0;">an art</p>
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<p style="margin-top: 0; margin-bottom: 0;">both a science and an art</p>
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<p style="margin-top: 0; margin-bottom: 0;">neither a science nor an art</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q9. Which one of the following statement is incorrect?</p>
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<p style="margin-top: 0; margin-bottom: 0;">3</p>
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<p style="margin-top: 0; margin-bottom: 0;">Business economics is normative in nature</p>
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<p style="margin-top: 0; margin-bottom: 0;">Business economics is closely related with statistics</p>
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<p style="margin-top: 0; margin-bottom: 0;">Business economics only considers micro variables</p>
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<p style="margin-top: 0; margin-bottom: 0;">Business economics is also called Manegerial economics</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q10. All of the following are within the scope of Business Economics except:</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Capital budgeting</p>
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<p style="margin-top: 0; margin-bottom: 0;">Risk analysis</p>
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<p style="margin-top: 0; margin-bottom: 0;">Business cycles</p>
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<p style="margin-top: 0; margin-bottom: 0;">Accounting standards</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q11. The term economics is derived from acient greek word “ OIKONOMIA “ which means:</p>
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<p style="margin-top: 0; margin-bottom: 0;">1</p>
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<p style="margin-top: 0; margin-bottom: 0;">Rules of household</p>
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<p style="margin-top: 0; margin-bottom: 0;">Art of living</p>
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<p style="margin-top: 0; margin-bottom: 0;">Science of good governance</p>
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<p style="margin-top: 0; margin-bottom: 0;">Law of rational behaviour</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q12. _______ is known as father of Economics</p>
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<p style="margin-top: 0; margin-bottom: 0;">1</p>
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<p style="margin-top: 0; margin-bottom: 0;">Adam Smith</p>
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<p style="margin-top: 0; margin-bottom: 0;">Fedrick taylor</p>
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<p style="margin-top: 0; margin-bottom: 0;">Alfred marshall</p>
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<p style="margin-top: 0; margin-bottom: 0;">J.R. Hicks</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q13. ______ defines economics – as – an enquiry into the cause and wealth of nation.</p>
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<p style="margin-top: 0; margin-bottom: 0;">2</p>
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<p style="margin-top: 0; margin-bottom: 0;">FA walker</p>
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<p style="margin-top: 0; margin-bottom: 0;">Adam Smith</p>
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<p style="margin-top: 0; margin-bottom: 0;">Robbins</p>
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<p style="margin-top: 0; margin-bottom: 0;">JE carines</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q14. The famous book” An enquiry into the nature and causes of wealth of nation” was published in ______</p>
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<p style="margin-top: 0; margin-bottom: 0;">1</p>
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<p style="margin-top: 0; margin-bottom: 0;">1776</p>
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<p style="margin-top: 0; margin-bottom: 0;">1750</p>
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<p style="margin-top: 0; margin-bottom: 0;">1850</p>
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<p style="margin-top: 0; margin-bottom: 0;">1886</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q15. Modern economists define economics as :</p>
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<p style="margin-top: 0; margin-bottom: 0;">1</p>
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<p style="margin-top: 0; margin-bottom: 0;">Science of growth and efficiency</p>
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<p style="margin-top: 0; margin-bottom: 0;">Art understanding consumer behaviour</p>
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<p style="margin-top: 0; margin-bottom: 0;">Art of taking rational decesions</p>
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<p style="margin-top: 0; margin-bottom: 0;">Science of rational behavuiour</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q16. _____ defined Economics as the study of how people and society and up choosing , with or without the use of money , to employ scarce productive resources that could have alternative uses, to produce various commodities and distribute them for consumption now or in future among various persons and groups in society</p>
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<p style="margin-top: 0; margin-bottom: 0;">3</p>
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<p style="margin-top: 0; margin-bottom: 0;">Adam Smith</p>
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<p style="margin-top: 0; margin-bottom: 0;">Malthus</p>
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<p style="margin-top: 0; margin-bottom: 0;">Paul Sameulson</p>
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<p style="margin-top: 0; margin-bottom: 0;">JB Say</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q17. 25 points radiation in CRR has increased money supply is a __________ statement</p>
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<p style="margin-top: 0; margin-bottom: 0;">3</p>
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<p style="margin-top: 0; margin-bottom: 0;">Subjective</p>
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<p style="margin-top: 0; margin-bottom: 0;">Negative</p>
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<p style="margin-top: 0; margin-bottom: 0;">Positive</p>
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<p style="margin-top: 0; margin-bottom: 0;">Normative</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q18. ___________ is a positive statement.</p>
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<p style="margin-top: 0; margin-bottom: 0;">2</p>
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<p style="margin-top: 0; margin-bottom: 0;">to check inflation public spending should be controlled</p>
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<p style="margin-top: 0; margin-bottom: 0;">price control has led to artificial shortage of edible oil</p>
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<p style="margin-top: 0; margin-bottom: 0;">minimum wage rate should be fixed to avoid exploitation of workers</p>
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<p style="margin-top: 0; margin-bottom: 0;">government should enforce Social Security laws strictly</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q19. Senior citizens deserve hike in pension and better medical care This is a_______ statement</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Subjective</p>
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<p style="margin-top: 0; margin-bottom: 0;">Negative</p>
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<p style="margin-top: 0; margin-bottom: 0;">Positive</p>
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<p style="margin-top: 0; margin-bottom: 0;">normative</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q20. To reduce pollution government should impose heavy penalty on pollution vechiles this is _____ and a_______ statement</p>
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<p style="margin-top: 0; margin-bottom: 0;">2</p>
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<p style="margin-top: 0; margin-bottom: 0;">Subjective</p>
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<p style="margin-top: 0; margin-bottom: 0;">Negative</p>
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<p style="margin-top: 0; margin-bottom: 0;">Positive</p>
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<p style="margin-top: 0; margin-bottom: 0;">Normative</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q21. The difference between the positive and normative approach in economics is that ______</p>
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<p style="margin-top: 0; margin-bottom: 0;">2</p>
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<p style="margin-top: 0; margin-bottom: 0;">positive economic start with statement in affirmative mode whereas normative in negative mode</p>
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<p style="margin-top: 0; margin-bottom: 0;">positive economic concerns matters of fact where normative concerns matters of opinion</p>
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<p style="margin-top: 0; margin-bottom: 0;">in the in positive economic answer is yes areas whereas normative there is no answer to the problem</p>
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<p style="margin-top: 0; margin-bottom: 0;">all the three</p>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<p style="margin-top: 0; margin-bottom: 0;">Q22. _______ is that branch of economy that concerns how individual households and firms takes economic decisions to allocate resources</p>
</td>
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<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
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<td>
<p style="margin-top: 0; margin-bottom: 0;">Macroeconomics</p>
</td>
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<td>
<p style="margin-top: 0; margin-bottom: 0;">Microeconomics</p>
</td>
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<td>
<p style="margin-top: 0; margin-bottom: 0;">positive economics</p>
</td>
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<td>
<p style="margin-top: 0; margin-bottom: 0;">normative economics</p>
</td>
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<p style="margin-top: 0; margin-bottom: 0;">4</p>
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<td>
<p style="margin-top: 0; margin-bottom: 0;">Q23. The focus of microeconomic policy is on _______</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">price discrimination in specific markets</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">structure and conduct of market operations</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">addressing the problems of unemployment and inflation</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">equity and efficiency</p>
</td>
</tr>
</table>
<p> </p>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q24. The study of impact increase in money supply on journal price level and level of employment is the subject matter of _______</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">normative economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">positive economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Macroeconomics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">microeconomics</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q25. Which of these is a normative statement</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">forwarding trading is commodity market has led to inflated inflationary conditions in food grains</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">providing trading in commodities or to be banned to crab rising prices</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">export of onions are created shortage or domestic supply of onions</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">None</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q26. The government does not interfere in the process of decision-making under</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">market economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">centrally planned economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">mixed economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">all of these</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q27. Due to scarcity of resources one must__________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">take rational economic decisions</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">trade of between different alternative use of resources</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">use of resources efficiently</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">all the three</p>
</td>
</tr>
</table>
<p> </p>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q28. Scarcity of resources can be addressed by __________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">better allocation of resources</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">reduction of consumption</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">check environment pollution</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">change in education policy</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q29. The basic economic question that every society must address include _____________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">what, how, and from whom</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">where, when and why</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">which, why, and what</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">when, how, and which</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q30. In addition to three central problems of economic the additional problems raised by modern economics is /are ___________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Are the resources fully utilised or not</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">How efficient is the production and distribution system</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Whether the capacity to produce or grow is increasing or is static</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">All the three</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q31. From whom to produce means ___________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Consumer having demand backed by purchasing power</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Affiliate group of population</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Consumer desiring to have</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">High net worth individual</p>
</td>
</tr>
</table>
<p> </p>
<p> </p>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q32. The three basic economic question do not include____________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">What</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">for whom</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Where</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">how</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q33. The question like what how and for whom arise due to existence of __________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Scarcity of resources</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Capitalism</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">government control</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">inequality of income distribution</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q34. ____________ guide a capitalist economy to decide what to produce</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Market survey</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">economic models</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">intensity of consumer demand</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">cost of production</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q35. __________ guide a market economy to resolve the problem of for whom to produce</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Government regulations</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">purchasing power</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">commodity index</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">trade associations decision baby</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q36. In a centrally regulated economy the central problem facing society is solved by __________</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Market forces or price mechanism</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">central planning committee</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">central bank</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">parliament</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q37. In a socialist economy ___________ mechanism is found</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Dual price system</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">market driven price system private</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">administrative price control</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">None</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q38. In free economy the decision about investment saving and conception are decided by_______</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Price mechanism</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">central bank</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Planning Commission</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">finance budget</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q39. Which of the following is the demerit of capitalism</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">There is predictions of property rights over human rights</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">It functions in a domestic framework</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">High degree of operative efficiency</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">None of above.</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q40. Which of the following is included in study of micro-economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Product pricing</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">factor pricing</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">both A and B</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">none of these</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q41. Scarcity definition in economics is given by</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Lipsy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Adam Smith</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">J B Say</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Robinson</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q42. The industrialization and economic development of the USA Great Britain and other western European countries here taken place under the condition of</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Capitalization and lessees fair</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">mixed economic structure</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">socialism and plannned structure</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">none of these</p>
</td>
</tr>
</table>
<p> </p>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q43. In the beginning economic’s was named as</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">political economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Welfare economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">economics of wealth</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">none of these</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q44. Which of the following is not a characteristic so capitalistic economic</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">right to private property</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">freedom of enterprise</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">consumers sovereignty</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">combined sector</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q45. Business economics is a</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Normative science</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Interdisciplinary</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Pragmatic</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">all of these</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q46. Scarcity of resources has to be dealt in</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">capitalistic economic</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">socialist economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">mixed economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">all of these</p>
</td>
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<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q47. Larger number of __________ goods would be good and lead to higher production in future</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">capital goods</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">public goods</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">consumer goods</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">none of these</p>
</td>
</tr>
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<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
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<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q48. Allocation all resources is dealt in</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Macroeconomic</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Microeconomics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">public finance</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">none of these</p>
</td>
</tr>
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<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q49. Business decision making involves -</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Whether the Firm has to make the companies or buy the components?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Whether the firm has to shut down or Create in the business?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">What mix of debt and equity should the firm use?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">All of the above</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q50. Integration of Economic theory with business practice is called-</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Managerial Economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Business Economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Aplied Economics</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">All of above</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q51. The emphasis of Business Economics is more on</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Normative theory only</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Positive theory only</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">More Normative than Positive theory</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">More Positive than Normative theory</p>
</td>
</tr>
</table>
<p> </p>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q52. Who among the following gave the definition of Economics as the “Science which deals with wealth”?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">J.M. Keynes</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">H.C. Dickinson</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Henry Smith</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">J. B. Say</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q53. Definition of economic given by Robbins does not deal with one of the following aspect. Indicate that aspect.</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Scare means </p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Limited ends</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Alternative uses</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Economics is a science</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q54. Economics, according to Lionel Robbins, is a</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">3</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">normative science</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">applied science</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">positive science</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">experimental science</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q55. Who gave the positive aspect of science?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Alfred Marshall</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">A.C. Pigou</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Adam smith</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Robbins</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q56. In capitalistic economy and will be more</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Inequalities, exploitation</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Exploitation, equalities</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Equalities, non-exploitation</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Non exploitation, inequalities</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q57. The economic system in which production and distribution of goods are aimed at maximizing the welfare of the community as whole is known as:</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">2</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Capitalism</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Socialism</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Mixed Economy</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Communist Economy</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q58. Which of the following is correct?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">1</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Mixed economy is not always a ‘golden path‘ between capitalism and socialism.</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Socialistic economy is not always a ‘golden path’ between mixed and capitalism.</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Capitalist economy is not always a ’golden path’ between mixed and socialism.</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Mixed economy is always a ’golden path between capitalism and socialism.</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q59. The concept of socialist economy was propounded by:</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Karl Marx and Adam Smith</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Federic Engels and Adam Smith</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Frederic Engels</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Karl Marx and Frederic Engels..</p>
</td>
</tr>
</table>
<p> </p>
<table class="TableGrid">
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Q60. The ‘Central Economics Problem’ does not deal with which of the following economic problems?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">4</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">What to produce?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">How to produce?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">For whom to produce?</p>
</td>
</tr>
<tr>
<td>
<p style="margin-top: 0; margin-bottom: 0;">Where to produce?</p>
</td>
</tr>
</table>
<p> </p>
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