1).The cost that changes in proportion to the goods or services that a business produces is termed as________.
a) Opportunity cost
b) Average cost
c) Variable cost
d) Marginal cost
2).Which of the following is NOT a potential gain from increased market competition?
a) Improvements in technology
b) A better variety of products
c) A faster pace of invention and innovation
d) Higher price for consumers
3).Who among the following was a German philosopher, economist and revolution socialist?
a) David Ricardo
b) Karl Marx
c) Adam Smith
d) John Maynard Keynes
4).The existence of Parallel Economy refers to the existence of ________.
a) Foreign investment
b) Call money
c) Hot money
d) Block money
5).The availability of goods and services in the marketplace at any given point in time is defined as____________.
6).The speaker of the Lok Sabha appoints who among the following?
a) Leader of Opposition
b) Prime minister
c) Two members of the Anglo-Indian community
d) Deputy Speaker of the Lok Sabha
7).The current President of India is Pranab Mukherjee, who is the ______.
a) 10th President of India
b) 12th President of India
c) 13th President of India
d) 14th President of India
8).The ‘Provision of States’ incorporated in the Constitution of India was borrowed from the Constitution of________.
9).Who among the following non-members has the right to participate in the proceedings of the Parliament, through not to vote?
a) RBI Governor
b) CBI chief
c) Attorney General
d) Chief Justice of India
10).Part XV ( Article 324-329 ) of the Indian Constitution deal with which of the following?
c) Official Language
1). c) 2). d) 3). b) 4). d) 5). c) 6). a) 7). c) 8). b) 9). c) 10). a)
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