National Insurance Awareness Day was observed on which day?
(A) 26 June
(B) 27 June
(C) 28 June
(D) 29 June
What is the number of sellers in a monopolistic market structure?
(A) very few
(B) very much
(C) one
(D) two
In monopolistic competition, you can find two and more sellers that compete with each other, whereas in a monopoly, there is only one seller.
What is a market with a small number of large firms called?
(A) Dual rights
(B) Competition
(C) Oligopoly
(D) Monopoly
An oligopoly refers to a market structure that consists of a small number of firms, who together have substantial influence over a certain industry or market. While the group holds a great deal of market power, no one company within the group has enough sway to undermine the others or steal market share.
Who developed the innovative theory of profit?
(A) Walker
(B) Clarke
(C) Knight
(D) Schumpeter
The 'Innovation Theory of Profit' was proposed by Joseph. A. Schumpeter who believed that an entrepreneur can earn economic profits by introducing successful innovations.
What else is micro economics called?
(A) Income theory
(B) Principle of investment
(C) Theory of price
(D) Principle of Expenditure
Micro economics is also known as Price theory because it takes into account the demand and supply of individual units and thus aims to determine the price of a product using the factors of production.
Camera_object is in the hands of a professional photographer.
(A) Free
(B) Intermediate
(C) Consumer
(D) Capital
Camera, in photography, a device for recording an image of an object on a light-sensitive surface; It is essentially a light-tight box with a hole to admit light that is focused onto a sensitive film or plate. 35 mm single-lens reflex (SLR) camera.
Who was the proponent of the dynamic theory of profit?
(A) Clarke
(B) Schumpeter
(C) Knight
(D) Halli
Dynamic theory of profit was advocated by J.B Clark. He stated that profits rise in that of type of economy where the things change. No profits will be generated n the static economy, where everything remains constant.
Which of the following may be called a fiscal deficit?
(A) Revenue expenditure − Revenue receipts
(B) Capital expenditure – Capital receipts
(C) Total expenditure – Total receipts other than borrowings
(D) Revenue expenditure + Capital expenditure − Revenue receipts
Fiscal Deficit is the difference between the total income of the government (total taxes and non-debt capital receipts) and its total expenditure. It occurs when the government's expenditure exceeds its income.
In which of the following market structures, there is a variable demand curve?
(A) Perfect competition
(B) Monopoly
(C) Oligpoly
(D) Monopolistic competition
There is freedom of entry and exit. Sellers have perfect knowledge about the market conditions. They are price taker. Price Elasticity of Demand of a firm is Infinite which means demand curve for Perfect competition is a Perfectly Elastic.
The foreign exchange reserves in India crossed the landmark of ___________ in June 2021.
(A) US$ 900 trillion
(B) US$ 600 trillion
(C) US$ 600 billion
(D) US$ 900 billion
Correct answer is US$ 600 billion. In June 2021, India crossed the 600 Billion USD mark for the first time. India has large foreign-exchange reserves; holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India's national currency, the Indian rupee.
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