GK Quiz 54: Economics Quiz for SSC and other exams

General Awareness Quiz – Indian Polity

General Awareness Quiz Set 54 for SSC CGL, SSC CHSL and Railways exams. Economics Quiz for SSC CGL, SSC CHSL, Railways etc.

Topic: Economics

  1. Which of the following subjects does not configure in Concurrent List of our Constitution?
    A) Protection of Wild Animals and Birds.

    B) Stock Exchange and Trade Markets.
    C) Trade Unions
    D) Forests
    View answer
      Option B.
    Explanation: Stock Exchange and Trade Markets.
  2. Extreme forms of markets are?
    A) Oligopoly: Monopoly

    B) Perfect Competition: Monopoly
    C) Perfect Competition: Monopolistic Competition
    D) Perfect Competition: Oligopoly
    View answer
      Option B.
    Explanation: Perfect Competition: Monopoly.
  3. Marginal Cost equals
    A) Total Cost divided by the total benefits for the last unit produced.

    B) Total Cost minus total benefits for the last unit produced.
    C) Total Cost divided by quantity.
    D) Change in Total Cost divided by the change in quantity.
    View answer
    Option D.
    Explanation:
    Change in Total Cost divided by the change in quantity.  
  4. Variation in Cash Reserve Ratio and Open Market Operations are instruments of?
    A) Budgetary Policy

    B) Trade Policy
    C) Monetary Policy
    D) Fiscal Policy
    View answer
    Option C.
    Explanation: Monetary Policy.
  5. Goods which are meant either for Consumption or Investment are called as?
    A) Final Goods

    B) Giffen Goods
    C) Inferior Goods
    D) Intermediate Goods
    View answer
    Option A.
    Explanation: Final Goods.
  6. The famous three P’s of Environmental Awareness are?
    A) People, Poverty and Politics.

    B) Power, Production and Pollution.
    C) Population, Politics and Price.
    D) Population, Povert and Pollution.
    View answer
    Option C.
    Explanation: Population, Politics and Price.
  7. A supply function express the relationship between
    A) Price and Selling Output

    B) Price and Output
    C) Price and Consumption
    D) Price and Demad
    View answer
    Option B.
    Explanation: Price and Output.
  8. The non expenditure cost which arises when the producing firm itself owns and supplies certains factors of production are?
    A) Replacement Costs

    B) Explicit Costs
    C) Original Costs
    D) Implicit Costs
    View answer
    Option D.
    Explanation: Implicit Costs.
  9. A part of National Debt known as External Debt is the amount?
    A) Lent by its Citizens to Foreign Government.

    B) Amount borrowed by its citizens from abroad.
    C) Lent by its Government to the foreign Government.
    D) Borrowed by its Government from abroad.
    View answer
    Option D.
    Explanation:
    Borrowed by its Government from abroad.
  10. Which one of the following is not the method for Computing GNP?
    A) Expenditure Approach

    B) Income Approach
    C) Suppliers’ Preferences
    D) Consumer Preferences
    View answer
    Option B.
    Explanation: Income Approach.

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