Economics and Commerce –GK Quiz for SSC/FCI Exam Set-28:
List of Important GK questions from Economics and Commerce for SSC exam were given here. Candidates those who are all preparing for SSC, FCI Exam and all other competitive exams can use this material.
1). A want can be satisfied by two or more goods
which are ………..
a)
Substitute
b)
Complementary
c)
Competitive
d)
None
of these
2).The
present Indian monetary system is based on
………
a)
Minimum
Reserve System
b)
Proportion
Reserve System
c)
Convertible
Currency System
d)
Gold
Reserve System
3). Marshallian
utility analysis is based on ……….
a)
Cardinal
b)
Ordinal
c)
Inductive
d)
None
of these
4). Those
goods and services which are not essential for living but which are required
for happy living are called ………….
e)
Luxuries
f)
Comforts
g)
Necessaries
h)
None
of these
5).The chief
exponent of the cardinal utility approach was ……….
a)
J.
R. Hicks
b)
R.
G. D. Allen
c)
Alfred
Marshall
d)
Adam
Smith
6). MUn is
equal to …………
a)
TUn
– TUn-1
b)
TUn
– TUn+1
c)
TUn
+ TUn+1
d)
TUn
+ TUn-1
7). ……….. law is known as Gossen’s first law.
a)
Law
of equi_marginal utility
b)
Law
of diminishing marginal utility
c)
Law
of demand
d)
None
of these
8). …………. is the
foundation for various other economic laws
a)
Law
of diminishing marginal utility
b)
Law
of demand
c)
Law
of supply
d)
Law
of equi_marginal utility
9). …………. is the
foundation for the law of demand
a)
Law
of diminishing marginal utility
b)
Law
of equi_marginal utility
c)
Law
of supply
d)
None
of these
10)…………. was
the first economist to mention the law of equi-marginal utility
a)
Marshall
b)
Gossen
c)
Adam
Smith
d)
None
of these
Answers:
1).b) 2). a) 3).a) 4).b) 5).c) 6).a) 7).
b) 8).a) 9).
a) 10).b)
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