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G.K. Practice Test: Question Set - 01

1. Recent industrial development of India is largely due to
    (A) Rationalization of raw materials
    (B) Availability of skilled manpower
    (C) Liberalization of government policies
    (D) Increase in market demand

2. Elasticity of demand is a tendency of demand to
    (A) Increase or decrease on the change of price
    (B) Increase on the rising of price
    (C) Decrease on the falling on price
    (D) Consistency of demand on rising and falling prices

3. Shares with a fixed rate of dividend that entitle their holders to priority payment over those who hold ordinary shares of a company are called
    (A) Preference shares
    (B) Bull
    (C) Bear
    (D) Shareholder

4. Ten-rupee note contains the signature of
    (A) Finance Secretary, Government of India
    (B) Chairman, Reserve Bank of India
    (C) Finance Minister, Government of India
    (D) Governor, Reserve Bank of India

5. Modvat is
    (A) Modified value added
    (B) A term used in excise which is a new scheme of indirect taxes
    (C) Scheme which allows a manufacturer to claim instant reimbursement of the excise duty paid on the raw materials used for the production of the final good
    (D) All of the above

6. The market condition when goods and services are not freely available and thus the prices are relatively high is called
    (A) Rights issue
    (B) Sinking fund
    (C) Seller’s market
    (D) Recession

7. What is ‘Estate Duty’?
    (A) Duty to one’s motherland
    (B) Duty to one’s home and property
    (C) A kind of tax
    (D) None of these

8. Population Explosion in a country means
    (A) High birth rate and high death rate
    (B) High birth rate and low death rate
    (C) Low birth rate and high death rate
    (D) Low birth rate and low death rate

9. The company that has acquired interest in different industries by taking over or merging with other companies, is called
    (A) Collateral
    (B) Coalition
    (C) Conglomerate
    (D) None of the above

10. In India, while defining an urban area, the most important consideration besides the size of its population is that it should have
    (A) Half of its male working in non-primary sector
    (B) A police station, a telegraph office and telephone facility
    (C) A police station, a college and a hospital
    (D) Three-fourth of its male working on non-agricultural pursuits

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Economics and Indian Economy:
  Set 01      Set 02      Set 03      Set 04      Set 05      Set 06      Set 07      Set 08      Set 09
  Set 10      Set 11

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