Quiz – Prelims Round 2

The value of the Gross Domestic Product (GDP) of India is published by PIB in

• US Dollar   

• Yen 

• Yuan

• 1.      Indian Rupee

  Individual Ownership is called as?

• Joint Trade Business

• Sole Proprietorship

• Co-Operative Society

• Partnership

In a Socialist Economy, all the factors of production are owned and controlled by -

• The public          

• The producers  

• The state

• The labour-unions

Which one of the following is a characteristic of oligopolistic industries?

• Product differentiation                

• Homogeneous goods

• Price rigidity                      

• Price discrimination

In India, liquid funds are regulated by –

• SEBI                      

• IRDA     

• RBI                        

• NSE

The three fundamental economic problems of what, how, and for whom are solved by

• Supply

• Demand

• Consumption

• Markets

The central role of markets is to determine the

• quality of goods

• quantity of goods

• level of income                 

• price of goods

Whose property is not liable for the debts of a company?

• Owner

• Shareholders    

• Employee           

• Minor Partner

Membership in a Co-Operative Society is?

• Voluntary

• Compulsory       

• Not Essential

• None of the above

Who is considered the founder of modern Macroeconomics?

• Adam Smith

• John Keynes  

• Friedrich Hayek                

• Milton Friedman