Basic Concepts and Structure of Indian Economy

Basic Concepts and Structure of the Indian Economy
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Basic Concepts and Structure of Indian Economy
1. Barter Transaction means. [SSC 2016]
(a) goods are exchanged with gold
(b) coins are exchanged for good’s
(c) money act as a medium of exchange
(d) goods are exchanged with goods
2. Who is renowned as ‘Father of Modern
Economics’? [MPPSC (Pre) 2010]
(a) Adam Smith (b) Marshal
(c) Keynes (d) Robins
3. Who is the writer of book ‘Wealth of
Nations’? [SSC 2015]
(a) Adam Smith (b) Marshal
(c) Pigow (d) Keynes
4. The main emphasis of Keynesian
economics is on [SSC CGL 2014]
(a) expenditure (b) exchange
(c) foreign trade (d) taxation
5. Who coined the concept of ‘Paradox of
Thrift’? [Astt. Comm. 2019]
(a) Adam Smith
(b) Alfred Marshall
(c) John Maynard Keynes
(d) Paul A Samuelson
6. According to Simple Keynesian theory,
the slope of the aggregate
consumption curve against income is
[Astt. Comm. 2019]
(a) Positive (b) Negative
(c) Zero (d) Infinity
7. John Maynard Keynes, best known for
his economic theory (Keynesian
economics), hailed from which country?
[SSC CGL 2019]
(a) Sweden (b) Denmark
(c) Australia (d) England
Basic Concepts and Structure of Indian Economy
8. The price of a commodity is the same
as [SSC 2017]
(a) average revenue (b) total cost
(c) average cost (d) total revenue
9. Income and consumption are
(a) inversely related [SSC 2012]
(b) directly related
(c) partially related
(d) unrelated related
10. Minimum payment of the factor of
production is called [SSC 2014]
(a) quasi rent (b) rent
(c) wages (d) transfer payments
11. The demand in economics means
(a) aggregate demand [SSC 2013]
(b) market demand
(c) individual demand
(d) demand backed by purchasing power.
12. Equilibrium price is the price when
[SSC 2011]
(a) supply is greater than demand.
(b) supply is less than demand.
(c) demand is very high.
(d) supply is equal to demand.
13. According to the law of diminishing
marginal utility, as the amount of a good
consumed increases, the marginal
utility of that good tends to [CDS 2018]
(a) improve
(b) diminish
(c) remain constant
(d) first diminish and then improve
14. The value of the slope of a normal
demand curve is [CDS 2019]
(a) positive (b) negative
(c) zero (d) infinity
15. Which of the following deals with
microeconomics analysis?
(a) General price level
(b) General supply
(c) Market demand
(d) Consumer demand
16. Private ownership of the means of
production is a feautre of a …………
economy. [SSC CGL 2019]
(a) capitalist (b) socialist
(c) mixed (d) dual
Basic Concepts and Structure of Indian Economy
17. A growth of resources in an economy is
shown in Production Possibility by
[SSC CGL 2012]
(a) Leftward shift
(b) Rightward shift
(c) Unchanged
(d) None of the above
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