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I am going to post some Business Knowledge and GK. Please add your answer for the given questions, and if you like it, then please add your GMAIL ID. I will send you the answer on the same.
If you have more questions like that, then send them to me, and I will add it here.
Hello all CHR,
Please try to give the answer first by yourself. After that, ask for answers to the questions.
Career Launcher, Online CAT, CAT Online, MBA Coaching, CAT Preparation, IIM-CAT, MBA Entrance, CAT IIM, CAT Papers, CAT Coaching
Career Launcher or CL is Asia's leading education services company offering test preparation (for exams like MBA/CAT - online CAT, Engg/IIT JEE, Law/CLAT, BBA, etc.), vocational education, schools, playschools, and management education.
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IMS India assists/trains/coaches MBA aspirants to prepare for the Indian B School/IIM/MBA entrance exams such as CAT, XAT, GMAT, FMS. Coaching through Classroom courses and correspondence distance learning preparation options are available. The IMS faculty comprises graduates from top B Schools such as the Indian Institute of Management, Ahmedabad, IIM Calcutta, IIM Bangalore. This year IMS students have received calls over 2479 calls from IIMs alone. For the Fall '06 cycle of MBA abroad, IMS helped students get admits to Tuck, Sloan, Wharton, Insead, LBS, and a host of top B schools in the US and UK. IMS admission consultancy services have helped get over Rs. 4.5 crore scholarships for IMS students.
PT education - CAT, MBA, IIM, XAT, XLRI, No.1 Institute in India, Top CAT coaching, CAT solutions, CAT coaching in India, Coaching for CAT, Coaching for CAT 2009, CAT 2009 key and solutions, CAT2008, CAT 2009, CAT MBA, MBA Training, Management Training in India, CAT coaching
CAT coaching in India, No.1 Institute in India, coaching for CAT 2009, IIT-JEE 2009, IIT JEE 2009 solutions, IIT JEE 2009 key and solutions, CAT, ICET, GRE, CAT2008, CAT 2009, CAT MBA, XAT, XLRI, IITJEE, IIT Foundation, BIT, BITS, Birla Institute of Technology and Sciences, lani, bitsat, bitsat online, bitsat online practice test, bitsat test, bitsat practice test in India, Management Training in India
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7I am going to post some Business Knowledge and GK. Please add your answer for the given questions, and if you like it, then please add your GMAIL ID. I will send you the answer on the same.
If you have more questions like that, then send them to me, and I will add it here.
Hello all CHR,
Please try to give the answer first by yourself. After that, ask for answers to the questions.
Career Launcher, Online CAT, CAT Online, MBA Coaching, CAT Preparation, IIM-CAT, MBA Entrance, CAT IIM, CAT Papers, CAT Coaching
Career Launcher or CL is Asia's leading education services company offering test preparation (for exams like MBA/CAT - online CAT, Engg/IIT JEE, Law/CLAT, BBA, etc.), vocational education, schools, playschools, and management education.
Endeavor - One-stop solution for CAT MBA MCA GRE GMAT aspirants coaching needs.
CAT coaching, IIMs, MBA Entrance Coaching, GRE GMAT coaching, CAT Coaching Ahmedabad, MBA Entrance Ahmedabad, Endeavor Careers Pvt. Ltd., Endeavor, Endeavor Careers, CAT
IIM A, IIM C, IIM B, IIM L, MBA, Ahmedabad, Bangalore, Calcutta, Kolkatta, Calicut, Kozhikode, Indore, Lucknow, FMS, S P Jain, CAT, XAT, IIFT, XLRI, XIM, Jamnalal Bajaj, SCMHRD, Symbiosis, GMAT, GRE, SAT, TOEFL, USA, India, MBA Abroad, CAT training, CAT coaching
IMS India assists/trains/coaches MBA aspirants to prepare for the Indian B School/IIM/MBA entrance exams such as CAT, XAT, GMAT, FMS. Coaching through Classroom courses and correspondence distance learning preparation options are available. The IMS faculty comprises graduates from top B Schools such as the Indian Institute of Management, Ahmedabad, IIM Calcutta, IIM Bangalore. This year IMS students have received calls over 2479 calls from IIMs alone. For the Fall '06 cycle of MBA abroad, IMS helped students get admits to Tuck, Sloan, Wharton, Insead, LBS, and a host of top B schools in the US and UK. IMS admission consultancy services have helped get over Rs. 4.5 crore scholarships for IMS students.
PT education - CAT, MBA, IIM, XAT, XLRI, No.1 Institute in India, Top CAT coaching, CAT solutions, CAT coaching in India, Coaching for CAT, Coaching for CAT 2009, CAT 2009 key and solutions, CAT2008, CAT 2009, CAT MBA, MBA Training, Management Training in India, CAT coaching
CAT coaching in India, No.1 Institute in India, coaching for CAT 2009, IIT-JEE 2009, IIT JEE 2009 solutions, IIT JEE 2009 key and solutions, CAT, ICET, GRE, CAT2008, CAT 2009, CAT MBA, XAT, XLRI, IITJEE, IIT Foundation, BIT, BITS, Birla Institute of Technology and Sciences, lani, bitsat, bitsat online, bitsat online practice test, bitsat test, bitsat practice test in India, Management Training in India
CAT, ICET, GRE, CAT2008, CAT2009, CAT MBA, XAT, XLRI, IITJEE, IIT Foundation, BITSAT Online Practice Tests
From India, Ahmadabad
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Q. 37. Which of the following company uses the tagline of Applying Thought :
A. Godrej Locks
B. Xerox
C. Singapore Airlines
D. Wipro
Q. 38. The word ‘demat’ is associated with
A. Share market
B. Bullion market
C. Commodity market
D. Money market
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A. Godrej Locks
B. Xerox
C. Singapore Airlines
D. Wipro
Q. 38. The word ‘demat’ is associated with
A. Share market
B. Bullion market
C. Commodity market
D. Money market
From India, Ahmadabad
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Q. 37. Which of the following companies uses the tagline of Applying Thought:
A. Godrej Locks
B. Xerox
C. Singapore Airlines
D. Wipro
Q. 38. The word 'demat' is associated with
A. Share market
B. Bullion market
C. Commodity market
D. Money market
Q. 39. What is the premise behind the time value of money?
A. An investor prefers to receive money in the future, rather than the same amount today (all else being equal)
B. An investor prefers to receive money today, rather than the same amount in the future (all else being equal)
C. An investor is indifferent to whether they receive money today, or the same amount in the future (all else being equal)
D. None of these
Q. 40. Which company built the Gateway of India?
A. East India Engineering Company
B. Larsen and Toubro Ltd
C. Gammon (Bombay) Pvt. Ltd.
D. None of these
Q. 41. In which country did the world's first paper money appear?
A. China
B. The Netherlands
C. Canada
D. Japan
Q. 42. Who was the first Governor of the Reserve Bank of India?
A. Sir Osborne Smith
B. Sir James Braid Taylor
C. Sir Chintaman D Deshmukh
D. Bimal Jain
Q. 43. Which was the first bank in India?
A. General Bank of India
B. Bank of Bengal
C. Bank of Bombay
D. Central Bank of India
Q. 44. Which of the following is not a function of money?
A. Medium of exchange
B. Increasing the purchasing power
C. Standard measure of value
D. Hedge against inflation
Q. 45. A current account deficit is a symptom of:
A. A government budget deficit and/or low levels of domestic saving
B. A government budget surplus and/or high levels of domestic saving
C. A government budget deficit and/or high levels of domestic saving
D. A government budget surplus and/or low levels of domestic saving
Q. 46. The financial market where medium- and long-term debt instruments (such as bonds and shares of businesses and public authorities) are traded is called
A. Money market
B. Capital market
C. Capital mortgage
D. Capital ratio
Q. 47. Soumya is always the life of the party. He loves being the center of attention. According to Eysenck, Soumya is an
A. Introvert
B. Extrovert
C. Psychotic
D. Neurotic
Q. 48. Who among the following is called the Father of Scientific Management?
A. Eric Tryst
B. Elton Mayo
C. F.W. Taylor
D. Douglas Mc Gregor
Q. 49. An employee in an organization tries to impersonate his manager's way of getting the work done. Learning by observing and imitating others' behavior is called
A. Observational learning
B. Vicarious learning
C. Operant learning
D. Experiential learning
Q. 50. Professor Kramer recently published an article in a scientific journal entitled, "The development of prejudices among recent immigrants." Which type of psychologist is Professor Kramer?
A. Social
B. Experimental
C. Clinical
D. Developmental
Q. 51. According to Weber, the goal of the Confucian is to:
A. Seize the means of production
B. Smash the state
C. Make capitalism more productive and efficient
D. Maintain the status quo
From India, Ahmadabad
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A. Godrej Locks
B. Xerox
C. Singapore Airlines
D. Wipro
Q. 38. The word 'demat' is associated with
A. Share market
B. Bullion market
C. Commodity market
D. Money market
Q. 39. What is the premise behind the time value of money?
A. An investor prefers to receive money in the future, rather than the same amount today (all else being equal)
B. An investor prefers to receive money today, rather than the same amount in the future (all else being equal)
C. An investor is indifferent to whether they receive money today, or the same amount in the future (all else being equal)
D. None of these
Q. 40. Which company built the Gateway of India?
A. East India Engineering Company
B. Larsen and Toubro Ltd
C. Gammon (Bombay) Pvt. Ltd.
D. None of these
Q. 41. In which country did the world's first paper money appear?
A. China
B. The Netherlands
C. Canada
D. Japan
Q. 42. Who was the first Governor of the Reserve Bank of India?
A. Sir Osborne Smith
B. Sir James Braid Taylor
C. Sir Chintaman D Deshmukh
D. Bimal Jain
Q. 43. Which was the first bank in India?
A. General Bank of India
B. Bank of Bengal
C. Bank of Bombay
D. Central Bank of India
Q. 44. Which of the following is not a function of money?
A. Medium of exchange
B. Increasing the purchasing power
C. Standard measure of value
D. Hedge against inflation
Q. 45. A current account deficit is a symptom of:
A. A government budget deficit and/or low levels of domestic saving
B. A government budget surplus and/or high levels of domestic saving
C. A government budget deficit and/or high levels of domestic saving
D. A government budget surplus and/or low levels of domestic saving
Q. 46. The financial market where medium- and long-term debt instruments (such as bonds and shares of businesses and public authorities) are traded is called
A. Money market
B. Capital market
C. Capital mortgage
D. Capital ratio
Q. 47. Soumya is always the life of the party. He loves being the center of attention. According to Eysenck, Soumya is an
A. Introvert
B. Extrovert
C. Psychotic
D. Neurotic
Q. 48. Who among the following is called the Father of Scientific Management?
A. Eric Tryst
B. Elton Mayo
C. F.W. Taylor
D. Douglas Mc Gregor
Q. 49. An employee in an organization tries to impersonate his manager's way of getting the work done. Learning by observing and imitating others' behavior is called
A. Observational learning
B. Vicarious learning
C. Operant learning
D. Experiential learning
Q. 50. Professor Kramer recently published an article in a scientific journal entitled, "The development of prejudices among recent immigrants." Which type of psychologist is Professor Kramer?
A. Social
B. Experimental
C. Clinical
D. Developmental
Q. 51. According to Weber, the goal of the Confucian is to:
A. Seize the means of production
B. Smash the state
C. Make capitalism more productive and efficient
D. Maintain the status quo
From India, Ahmadabad
Acknowledge(0)Amend(0)
1. SEWA Bank is:
(a) An exclusive bank for women in informal employment
(b) An urban cooperative bank
(c) The rural branch of Bank of India
(d) An association of self-help organizations
2. The World Bank is located in:
(a) Geneva (b) Rome
(c) Washington (d) New York
3. The World Bank was started to:
(a) Monitor the credit flows of banks in developing countries
(b) Monitor the credit flows of banks in all countries
(c) Provide soft loans for development
(d) Regulate international credit
4. The World Bank was established:
(a) By the USA to help developing countries
(b) By the USA to help Europe recover from World War Two
(c) By the International Monetary Fund to provide loans for development
(d) By the Bretton Woods conference
5. The International Monetary Fund is:
(a) A fund created to regulate balance of payments
(b) A fund created by the UN to help poorer countries get foreign aid
(c) A body that regulates the internal economic policies of countries with foreign loans
(d) A fund that regulates balance of credits
6. World Trade Organization was earlier known as:
(a) International Alliance for Trade
(b) General Agreement on Trade and Travel
(c) General Agreement on Trade and Tariffs
(d) International Agreement on Trade and Tariffs
7. Which of the Indian Universities celebrated their sesquicentennial year in 2007?
(a) Mumbai University, Chennai University, Kolkata University
(b) Mumbai University, Madras University, Calcutta University
(c) Benares Hindu University, Delhi University, Aligarh Muslim University
(d) Mumbai University, Delhi University, Kolkata University
8. UNCTAD stands for:
(a) United Nations Council for Total Aid
(b) United Nations Conference on Trade and Development
(c) United Nations Council on Trade and Development
(d) United Nations Conference on Tourism and Development
9. The World Economic Forum is located in:
(a) Geneva (b) Washington
(c) Nairobi (d) Davos
10. Thomas Friedman is the author of:
(a) The Flat World
(b) Fortune at the Bottom of the Pyramid
(c) The World is Flat
(d) The BPO Revolution
11. SEZ stands for:
(a) Special Economic Zone (b) Special Export Zone
(c) Special Environment Zone (d) Special Export Promotion Zone
12. The number of SEZs sanctioned so far is:
(a) 7 (b) 126
(c) 226 (d) 15
13. The World Social Forum is:
(a) A general forum to represent anti-globalization policies
(b) A forum initiated by the World Economic Forum to discuss social aspects of development
(c) A forum started by the World Bank to discuss aspects of global poverty
(d) A forum to discuss problems of developing countries
14. Which of the following is an Indian retail chain?
(a) Wal-Mart (b) Bharti
(c) Pantaloons (d) Tesco
15. Wall Street is located in:
(a) New York (b) Washington
(c) Tokyo (d) Hong Kong
16. Outsourcing is:
(a) Sub-contracting work using individuals or companies from within the organization
(b) Sub-contracting work using individuals or companies from outside the organization
(c) A unit located within the company that helps to farm out contracts
(d) A company that allows its employees to work in other similar companies
17. The first trade union federation in India was:
(a) Indian National Trade Union Congress
(b) Independent Trade Union Federation
(c) All India Trade Union Congress
(d) Trade Union Congress
18. Which of the following is NOT registered as a trade union?
(a) Confederation of Indian Industries
(b) Federation of Indian Chambers of Commerce and Industry
(c) Self-Employed Women's Association
(d) Bharatiya Mazdoor Sangh
19. When workers in a company are asked to retire prematurely with extra compensation it is known as:
(a) Compulsory Retirement Scheme (b) Superannuation
(c) Voluntary Retirement Scheme (d) Exit Policy
20. The Informal Sector is also known as:
(a) Unprotected sector
(b) A sector doing informal activities
(c) A sector where workers have flexible specialization.
(d) Sector that operates illegally
21. The International Labour Organization is a representation of
(a) Trade unions
(b) Trade unions and governments
(c) Trade unions, government and employers
(d) Trade unions and Employers
22. The International Labour Organization is located in:
(a) Geneva (b) Brussels
(c) New York (d) Washington
23. Which of the following countries registered the highest inflation rate in 2007?
(a) Kenya (b) South Africa
(c) Zimbabwe (d) Namibia
24. Which country is NOT a member of ASEAN?
(a) Malaysia (b) Bangkok
(c) Singapore (d) Burma
25. The Commonwealth countries are:
(a) Developing countries that want to share resources for development
(b) Former colonies
(c) Former colonies of European countries
(d) Former colonies of Great Britain
26. NAFTA stands for?
(a) North Atlantic Free Trade Association
(b) North Atlantic Free Trade Agreement
(c) North American Free Trade Association
(d) North American Free Trade Agreement
27. SAP stands for
(a) Structural and Analytical Processing
(b) Structural Adjustment Programme
(c) Special Assistance Programme
(d) Structural Allocation Programme
28. Which country is NOT in G20?
(a) Brazil (c) Pakistan
(b) Japan (d) India
29. The Magsaysay Award is granted by
(a) Sweden (b) Switzerland
(c) Malaysia (d) Philippines
30. International Monetary Fund was created for:
(a) Providing loans for improving infrastructure
(b) To stabilize global standards
(c) To regulate monetary transactions between countries
(d) To help in balance of trade
31. The term 'decent work' was coined by
(a) Mohammed Yunus (b) Nelson Mandela
(c) ILO (d) World Bank
From India, Ahmadabad
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(a) An exclusive bank for women in informal employment
(b) An urban cooperative bank
(c) The rural branch of Bank of India
(d) An association of self-help organizations
2. The World Bank is located in:
(a) Geneva (b) Rome
(c) Washington (d) New York
3. The World Bank was started to:
(a) Monitor the credit flows of banks in developing countries
(b) Monitor the credit flows of banks in all countries
(c) Provide soft loans for development
(d) Regulate international credit
4. The World Bank was established:
(a) By the USA to help developing countries
(b) By the USA to help Europe recover from World War Two
(c) By the International Monetary Fund to provide loans for development
(d) By the Bretton Woods conference
5. The International Monetary Fund is:
(a) A fund created to regulate balance of payments
(b) A fund created by the UN to help poorer countries get foreign aid
(c) A body that regulates the internal economic policies of countries with foreign loans
(d) A fund that regulates balance of credits
6. World Trade Organization was earlier known as:
(a) International Alliance for Trade
(b) General Agreement on Trade and Travel
(c) General Agreement on Trade and Tariffs
(d) International Agreement on Trade and Tariffs
7. Which of the Indian Universities celebrated their sesquicentennial year in 2007?
(a) Mumbai University, Chennai University, Kolkata University
(b) Mumbai University, Madras University, Calcutta University
(c) Benares Hindu University, Delhi University, Aligarh Muslim University
(d) Mumbai University, Delhi University, Kolkata University
8. UNCTAD stands for:
(a) United Nations Council for Total Aid
(b) United Nations Conference on Trade and Development
(c) United Nations Council on Trade and Development
(d) United Nations Conference on Tourism and Development
9. The World Economic Forum is located in:
(a) Geneva (b) Washington
(c) Nairobi (d) Davos
10. Thomas Friedman is the author of:
(a) The Flat World
(b) Fortune at the Bottom of the Pyramid
(c) The World is Flat
(d) The BPO Revolution
11. SEZ stands for:
(a) Special Economic Zone (b) Special Export Zone
(c) Special Environment Zone (d) Special Export Promotion Zone
12. The number of SEZs sanctioned so far is:
(a) 7 (b) 126
(c) 226 (d) 15
13. The World Social Forum is:
(a) A general forum to represent anti-globalization policies
(b) A forum initiated by the World Economic Forum to discuss social aspects of development
(c) A forum started by the World Bank to discuss aspects of global poverty
(d) A forum to discuss problems of developing countries
14. Which of the following is an Indian retail chain?
(a) Wal-Mart (b) Bharti
(c) Pantaloons (d) Tesco
15. Wall Street is located in:
(a) New York (b) Washington
(c) Tokyo (d) Hong Kong
16. Outsourcing is:
(a) Sub-contracting work using individuals or companies from within the organization
(b) Sub-contracting work using individuals or companies from outside the organization
(c) A unit located within the company that helps to farm out contracts
(d) A company that allows its employees to work in other similar companies
17. The first trade union federation in India was:
(a) Indian National Trade Union Congress
(b) Independent Trade Union Federation
(c) All India Trade Union Congress
(d) Trade Union Congress
18. Which of the following is NOT registered as a trade union?
(a) Confederation of Indian Industries
(b) Federation of Indian Chambers of Commerce and Industry
(c) Self-Employed Women's Association
(d) Bharatiya Mazdoor Sangh
19. When workers in a company are asked to retire prematurely with extra compensation it is known as:
(a) Compulsory Retirement Scheme (b) Superannuation
(c) Voluntary Retirement Scheme (d) Exit Policy
20. The Informal Sector is also known as:
(a) Unprotected sector
(b) A sector doing informal activities
(c) A sector where workers have flexible specialization.
(d) Sector that operates illegally
21. The International Labour Organization is a representation of
(a) Trade unions
(b) Trade unions and governments
(c) Trade unions, government and employers
(d) Trade unions and Employers
22. The International Labour Organization is located in:
(a) Geneva (b) Brussels
(c) New York (d) Washington
23. Which of the following countries registered the highest inflation rate in 2007?
(a) Kenya (b) South Africa
(c) Zimbabwe (d) Namibia
24. Which country is NOT a member of ASEAN?
(a) Malaysia (b) Bangkok
(c) Singapore (d) Burma
25. The Commonwealth countries are:
(a) Developing countries that want to share resources for development
(b) Former colonies
(c) Former colonies of European countries
(d) Former colonies of Great Britain
26. NAFTA stands for?
(a) North Atlantic Free Trade Association
(b) North Atlantic Free Trade Agreement
(c) North American Free Trade Association
(d) North American Free Trade Agreement
27. SAP stands for
(a) Structural and Analytical Processing
(b) Structural Adjustment Programme
(c) Special Assistance Programme
(d) Structural Allocation Programme
28. Which country is NOT in G20?
(a) Brazil (c) Pakistan
(b) Japan (d) India
29. The Magsaysay Award is granted by
(a) Sweden (b) Switzerland
(c) Malaysia (d) Philippines
30. International Monetary Fund was created for:
(a) Providing loans for improving infrastructure
(b) To stabilize global standards
(c) To regulate monetary transactions between countries
(d) To help in balance of trade
31. The term 'decent work' was coined by
(a) Mohammed Yunus (b) Nelson Mandela
(c) ILO (d) World Bank
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32. The World Development Report is published by:
(a) United Nations
(b) International Monetary Fund
(c) UNDP
(d) World Bank
33. Which is the largest democracy in the world?
(a) USA
(b) China
(c) India
(d) Brazil
34. The Vice President of India is:
(a) Chairman of Rajya Sabha
(b) Leader of the majority group in Rajya Sabha
(c) Not a member of either house of Parliament
(d) Deputy Chief of Armed Forces
35. The Mandal Commission recommended reservations in jobs and educational institutions for:
(a) Backward Classes
(b) Other Backward Classes
(c) Other Backward Castes
(d) Backward Castes
36. Who is the author of the book "Globalisation and its Discontents"?
(a) Norman Mailer
(b) Joseph Stiglitz
(c) David Harvey
(d) Saskia Sassen
37. What does LPG stand for?
(a) Liquid Petroleum Gas
(b) Liberalisation, Privatisation, and Government
(c) Liberalisation, Privatisation, and Globalisation
(d) Labour, Privatisation, and Globalisation
38. Trade unions are:
(a) Organizations of workers with different trades
(b) Organizations of traders to protect their interests
(c) Organizations of self-employed individuals to become traders
(d) Organizers of workers to protect their interests
39. Street vendors can be described as:
(a) Those engaged in illegal trade on the street
(b) Micro-entrepreneurs
(c) People who work on streets
(d) Those operating with licenses
40. The Constitution describes India as:
(a) Democratic Republic
(b) Sovereign, Democratic Republic
(c) Sovereign, Socialist, Secular, Democratic Republic
(d) Secular Republic
41. The pass known as part of the historic silk route that connected China with India, West Asia, and Europe is:
(a) Khyber
(b) Resham
(c) Mal Mal
(d) Nathu La
42. Ban Ki-Moon, who took over from Kofi Annan belongs to:
(a) Japan
(b) North Korea
(c) South Korea
(d) China
43. "Freedom From Fear and other Writings" is authored by:
(a) Rajmohan Gandhi
(b) Aung San Su Kyi
(c) Nelson Mandela
(d) Jawaharlal Nehru
44. Green Initiative for the Future Transport (GIFT) is related to:
(a) Environment Impact Assessment
(b) Hydrocarbon Vision 2020 EIA
(c) H2 Energy in motor vehicle
(d) Biodiesel
45. Which of the following is not a member of G-20?
(a) Brazil
(b) China
(c) Pakistan
(d) Japan
46. Which is the only religion that lays more stress on one's deeds than on God?
(a) Shintoism
(b) Taoism
(c) Buddhism
(d) Vaishnavism
47. Jyotiba Phule was known as:
(a) A peasant leader
(b) Leader of Dalits in Maharashtra
(c) Leader of armed insurrection against British rule
(d) A social reformer who sought an alliance between oppressed castes
48. Scheduled Castes are:
(a) Dalits
(b) Castes having special privileges
(c) Castes named in a list of the Constitution
(d) Castes that have been declared by the government
49. Dr. Mohammad Yunus is known as the founder of:
(a) Rural Bank of Bangladesh
(b) Grameen Bank
(c) Grameen Mahila Bank
(d) Grameen Cooperative Bank
50. Self-help groups are:
(a) Groups organizing for micro-credit
(b) Groups that believe that helping each other is a new movement
(c) Groups that are organized around common issues
(d) Groups that carry out diverse activities relating to economic benefit
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(a) United Nations
(b) International Monetary Fund
(c) UNDP
(d) World Bank
33. Which is the largest democracy in the world?
(a) USA
(b) China
(c) India
(d) Brazil
34. The Vice President of India is:
(a) Chairman of Rajya Sabha
(b) Leader of the majority group in Rajya Sabha
(c) Not a member of either house of Parliament
(d) Deputy Chief of Armed Forces
35. The Mandal Commission recommended reservations in jobs and educational institutions for:
(a) Backward Classes
(b) Other Backward Classes
(c) Other Backward Castes
(d) Backward Castes
36. Who is the author of the book "Globalisation and its Discontents"?
(a) Norman Mailer
(b) Joseph Stiglitz
(c) David Harvey
(d) Saskia Sassen
37. What does LPG stand for?
(a) Liquid Petroleum Gas
(b) Liberalisation, Privatisation, and Government
(c) Liberalisation, Privatisation, and Globalisation
(d) Labour, Privatisation, and Globalisation
38. Trade unions are:
(a) Organizations of workers with different trades
(b) Organizations of traders to protect their interests
(c) Organizations of self-employed individuals to become traders
(d) Organizers of workers to protect their interests
39. Street vendors can be described as:
(a) Those engaged in illegal trade on the street
(b) Micro-entrepreneurs
(c) People who work on streets
(d) Those operating with licenses
40. The Constitution describes India as:
(a) Democratic Republic
(b) Sovereign, Democratic Republic
(c) Sovereign, Socialist, Secular, Democratic Republic
(d) Secular Republic
41. The pass known as part of the historic silk route that connected China with India, West Asia, and Europe is:
(a) Khyber
(b) Resham
(c) Mal Mal
(d) Nathu La
42. Ban Ki-Moon, who took over from Kofi Annan belongs to:
(a) Japan
(b) North Korea
(c) South Korea
(d) China
43. "Freedom From Fear and other Writings" is authored by:
(a) Rajmohan Gandhi
(b) Aung San Su Kyi
(c) Nelson Mandela
(d) Jawaharlal Nehru
44. Green Initiative for the Future Transport (GIFT) is related to:
(a) Environment Impact Assessment
(b) Hydrocarbon Vision 2020 EIA
(c) H2 Energy in motor vehicle
(d) Biodiesel
45. Which of the following is not a member of G-20?
(a) Brazil
(b) China
(c) Pakistan
(d) Japan
46. Which is the only religion that lays more stress on one's deeds than on God?
(a) Shintoism
(b) Taoism
(c) Buddhism
(d) Vaishnavism
47. Jyotiba Phule was known as:
(a) A peasant leader
(b) Leader of Dalits in Maharashtra
(c) Leader of armed insurrection against British rule
(d) A social reformer who sought an alliance between oppressed castes
48. Scheduled Castes are:
(a) Dalits
(b) Castes having special privileges
(c) Castes named in a list of the Constitution
(d) Castes that have been declared by the government
49. Dr. Mohammad Yunus is known as the founder of:
(a) Rural Bank of Bangladesh
(b) Grameen Bank
(c) Grameen Mahila Bank
(d) Grameen Cooperative Bank
50. Self-help groups are:
(a) Groups organizing for micro-credit
(b) Groups that believe that helping each other is a new movement
(c) Groups that are organized around common issues
(d) Groups that carry out diverse activities relating to economic benefit
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36. Which of the following is mismatched
a. Godavari - Maharashtra
b. Cauvery – Karnataka
c. Ganga – Himachal Pradesh
d. Haldia - Bihar
37. The Armed Forces (Special Powers) act of 1958 is in force in
a. Manipur, Nagaland and Mizoram
b. Assam, Tripura and Mehalaya
c. All of the above
d. None of the above
38. Who among the following has not won the ‘Bharat Ratna’?
a. Lata Mangeshkar
b. Marudhur Gopalan Ramachandran
c. Dr. Nelson Rohilhlahla Mandela
d. Nandamuri Taraka Ramarao
39. The National programme of Nutritional Support to Primary education was
launched
a. 1995
b. 1996
c. 2004
d. 2005
40. The constitution has
a. 12 schedules, 395 articles, 22 parts
b. 12 schedules, 375 articles, 20 parts
c. 12 schedules, 394 articles, 22 parts
d. 12 schedules, 395 articles, 21 parts
41. Which of the following is incorrectly matched?
a. Bhakranangal – Haryana
b. Srisailam – Andhrapradesh
c. Gandhisagar – Madhya Pradesh
d. Sardar Sarovar - Gujarat
42. Which of the following is not one of the socio – demographic goals of the
National Population Policy - 2000
a. Make school education up to age 14 free and compulsory, and reduce drop
outs at primary and secondary school levels to below 20 percent for both boys
and girls.
b. Achieve universal immunization of children against all vaccine preventable
diseases.
c. Promote delayed marriage for girls, not earlier than age 18 and preferably after
20 years of age.
d. None of the above
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a. Godavari - Maharashtra
b. Cauvery – Karnataka
c. Ganga – Himachal Pradesh
d. Haldia - Bihar
37. The Armed Forces (Special Powers) act of 1958 is in force in
a. Manipur, Nagaland and Mizoram
b. Assam, Tripura and Mehalaya
c. All of the above
d. None of the above
38. Who among the following has not won the ‘Bharat Ratna’?
a. Lata Mangeshkar
b. Marudhur Gopalan Ramachandran
c. Dr. Nelson Rohilhlahla Mandela
d. Nandamuri Taraka Ramarao
39. The National programme of Nutritional Support to Primary education was
launched
a. 1995
b. 1996
c. 2004
d. 2005
40. The constitution has
a. 12 schedules, 395 articles, 22 parts
b. 12 schedules, 375 articles, 20 parts
c. 12 schedules, 394 articles, 22 parts
d. 12 schedules, 395 articles, 21 parts
41. Which of the following is incorrectly matched?
a. Bhakranangal – Haryana
b. Srisailam – Andhrapradesh
c. Gandhisagar – Madhya Pradesh
d. Sardar Sarovar - Gujarat
42. Which of the following is not one of the socio – demographic goals of the
National Population Policy - 2000
a. Make school education up to age 14 free and compulsory, and reduce drop
outs at primary and secondary school levels to below 20 percent for both boys
and girls.
b. Achieve universal immunization of children against all vaccine preventable
diseases.
c. Promote delayed marriage for girls, not earlier than age 18 and preferably after
20 years of age.
d. None of the above
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43. Which among these has not won the Nobel Prize:
a. C.V. Raman
b. R.K. Pachauri
c. Abdul Kalam
d. Amartya Sen
44. The current contribution of Nuclear power to total energy production in India is:
a. > 20%
b. 15-20%
c. > 15%
d. < 5%
45. The literacy rate for females in India according to the census of 2001 is:
a. 50-55%
b. 45-55%
c. 40-45%
d. 55-60%
46. Which of the following is not a poet:
a. M.F. Hussain
b. Kaifi Azmi
c. Makhdoom Mohiuddin
d. Sahir Ludhianvi
47. Gitanjali was originally written in:
a. Hindi
b. Sanskrit
c. Bengali
d. English
48. P.C. Mahalanobis is associated with:
a. Agriculture
b. Statistics
c. Medicine
d. Geology
49. Which of the following diseases does a mosquito not spread:
a. Dengue
b. Malaria
c. Filaria
d. Cholera
50. I.C.D.S provides:
a. Financial support to mothers
b. Nutrition to children
c. Subsidies to B.P.L. families
d. Micro credit
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a. C.V. Raman
b. R.K. Pachauri
c. Abdul Kalam
d. Amartya Sen
44. The current contribution of Nuclear power to total energy production in India is:
a. > 20%
b. 15-20%
c. > 15%
d. < 5%
45. The literacy rate for females in India according to the census of 2001 is:
a. 50-55%
b. 45-55%
c. 40-45%
d. 55-60%
46. Which of the following is not a poet:
a. M.F. Hussain
b. Kaifi Azmi
c. Makhdoom Mohiuddin
d. Sahir Ludhianvi
47. Gitanjali was originally written in:
a. Hindi
b. Sanskrit
c. Bengali
d. English
48. P.C. Mahalanobis is associated with:
a. Agriculture
b. Statistics
c. Medicine
d. Geology
49. Which of the following diseases does a mosquito not spread:
a. Dengue
b. Malaria
c. Filaria
d. Cholera
50. I.C.D.S provides:
a. Financial support to mothers
b. Nutrition to children
c. Subsidies to B.P.L. families
d. Micro credit
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Glossary of Economic Terms and Concepts
Absolute advantage - The ability to produce something with fewer resources than other producers would use to produce the same thing.
Alternatives - Options among which to make choices.
Balance of trade - The part of a nation's balance of payments that deals with merchandise (or visible) imports or exports.
Bank, commercial - A financial institution that accepts checking deposits, holds savings, sells traveler's checks, and performs other financial services.
Barter - The direct trading of goods and services without the use of money.
Benefit - The gain received from voluntary exchange.
Bond - A certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturity date.
Business (firm) - Private profit-seeking organizations that use resources to produce goods and services.
Capital - All buildings, equipment, and human skills used to produce goods and services.
Capital resources - Goods made by people and used to produce other goods and services. Examples include buildings, equipment, and machinery.
Change in demand - see Demand decrease and Demand increase.
Change in supply - see Supply decrease and Supply increase.
Choice - What someone must make when faced with two or more alternative uses of a resource (also called economic choice).
Circular flow of goods and services (or Circular flow of economic activity) - A model of an economy showing the interactions between households and business firms as they exchange goods and services and resources in markets.
Collateral - Anything of value that is acceptable to a lender to guarantee repayment of a loan.
Command economy - A mode of economic organization in which the key economic functions—what, how, and for whom—are principally determined by government directive. Sometimes called a "centrally planned economy."
Comparative advantage - The principle of comparative advantage states that a country will specialize in the production of goods in which it has a lower opportunity cost than other countries.
Competition - The effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.
Complements - Products that are used with one another, such as hamburger and hamburger buns.
Consumers - People whose wants are satisfied by consuming a good or a service.
Consumption - In macroeconomics, the total spending, by individuals or a nation, on consumer goods during a given period. Strictly speaking, consumption should apply only to those goods totally used, enjoyed, or "eaten up" within that period. In practice, consumption expenditures include all consumer goods bought, many of which last well beyond the period in question—e.g., furniture, clothing, and automobiles.
Consumer spending - The purchase of consumer goods and services.
Corporation - A legal entity owned by stockholders whose liability is limited to the value of their stock.
Costs - See Opportunity Cost.
Costs of production - All resources used in producing goods and services, for which owners receive payments.
Craftsperson - A worker who completes all steps in the production of a good or service.
Credit - (1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
Criteria - Standards or measures of value that people use to evaluate what is most important.
Decision making - Choosing from alternatives the one with the greatest benefit net of costs.
Deflation - A sustained and continuous decrease in the general price level.
Demand - A schedule of how much consumers are willing and able to buy at all possible prices during some time period.
Demand decrease - A decrease in the quantity demanded at every price; a shift to the left of the demand curve.
Demand increase - An increase in the quantity demanded at every price; a shift to the right of the demand curve.
Determinants of demand - Factors that influence consumer purchases of goods, services, or resources.
Determinants of supply - Factors that influence producer decisions about goods, services, or resources.
Distribution - The manner in which total output and income are distributed among individuals or factors (e.g., the distribution of income between labor and capital).
Division of labor - The process whereby workers perform only a single or a very few steps of a major production task (as when working on an assembly line).
Durables - Consumer goods expected to last longer than three years.
Earn - Receive payment (income) for productive efforts.
Economic growth - An increase in the total output of a nation over time. Economic growth is usually measured as the annual rate of increase in a nation's real GDP.
Economic system - The collection of institutions, laws, activities, controlling values, and human motivations that collectively provide a framework for economic decision-making.
Economic wants - Desires that can be satisfied by consuming a good or a service. Some economic wants range from things needed for survival to things that are nice to have.
Employment - See Full employment.
Entrepreneur - One who organizes, manages, and assumes the risks of a business or enterprise.
Entrepreneurship - The human resource that assumes the risk of organizing other productive resources to produce goods and services.
Equilibrium price - The market clearing price at which the quantity demanded by buyers equals the quantity supplied by sellers.
Exchange - Trading goods and services with others for other goods and services or for money (also called trade). When people exchange voluntarily, they expect to be better off as a result.
Exchange rates - The rate or price at which one country's currency is exchanged for the currency of another country.
Excise Tax - Taxes imposed on specific goods and services, such as cigarettes and gasoline.
Exports - Goods or services produced in one nation but sold to buyers in another nation.
Factors of production - Resources used by businesses to produce goods and services.
Federal Reserve System - The central bank and monetary authority of the United States.
Final goods - Products that end up in the hands of consumers.
Fiscal policy - A government's program with respect to (1) the purchase of goods and services and spending on transfer payments, and (2) the amount and type of taxes.
Functions of money - The roles played by money in an economy. These roles include medium of exchange, standard of value, and store of value.
Full employment - A term that is used in many senses. Historically, it was taken to be that level of employment at which no (or minimal) involuntary unemployment exists. Today economists rely upon the concept of the natural rate of unemployment to indicate the highest sustainable level of employment over the long run.
Goods - Objects that can satisfy people's wants.
Government - National, state, and local agencies that use tax revenues to provide goods and services for their citizens.
Gross domestic product (GDP) - The value, expressed in dollars, of all final goods and services produced in a year.
Gross domestic product (GDP), real - GDP corrected for inflation.
Households - Individuals and family units which, as consumers, buy goods and services from firms and, as resource owners, sell or rent productive resources to business firms.
Human capital - The health, strength, education, training, and skills which people bring to their jobs.
Human resources - The quantity and quality of human effort directed toward producing goods and services (also called labor).
Incentives - Factors that motivate and influence the behavior of households and businesses. Prices, profits, and losses act as incentives for participants to take action in a market economy.
Imports - Goods or services bought from sellers in another nation.
Income - The payments made for the use of borrowed or loaned money.
Increase in productivity - When the same amount of output can be produced with fewer inputs; more output can be produced with the same amount of inputs; or a combination of the two.
Inflation - A sustained and continuous increase in the general price level.
Interdependence - Dependence on others for goods and services; occurs as a result of specialization.
Interest rates - The price paid for borrowing money for a period of time, usually expressed as a percentage of the principal per year.
Investment in capital goods - Occurs when savings are used to increase the economy's productive capacity by financing the construction of new factories, machines, means of communication, and the like.
Investment - The purchase of a security, such as a stock or bond.
Investment in capital resources - Business purchases of new plant and equipment.
Investment in human capital - An action taken to increase the productivity of workers. These actions can include improving skills and abilities, education, health, or mobility of workers.
Labor force - That group of people 16 years of age and older who are either employed or unemployed.
Labor market - A setting in which workers sell their human resources and employers buy human resources.
Labor union - A group of employees who join together to improve their terms of employment.
Land - Natural resources or gifts of nature that are used to produce goods and services.
Law of demand - The principle that price and quantity demanded are inversely related.
Law of supply - The principle that price and quantity supplied are directly related.
Loss - A business situation in which the total cost of production exceeds total revenue; negative profit.
Market - A setting where buyers and sellers establish prices for identical or very similar products, and exchange goods and/or services.
Market economy - An economic system where most goods and services are exchanged through transactions by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets.
Medium of exchange - One of the functions of money whereby people exchange goods and services for money and in turn use money to obtain other goods and services.
Mixed economy - The dominant form of economic organization in non-communist countries. Mixed economies rely primarily on the price system for their economic organization but use a variety of government interventions (such as taxes, spending, and regulation) to handle macroeconomic instability and market failures.
Monetary policy - The objectives of the central bank in exercising its control over money, interest rates, and credit conditions. The
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Absolute advantage - The ability to produce something with fewer resources than other producers would use to produce the same thing.
Alternatives - Options among which to make choices.
Balance of trade - The part of a nation's balance of payments that deals with merchandise (or visible) imports or exports.
Bank, commercial - A financial institution that accepts checking deposits, holds savings, sells traveler's checks, and performs other financial services.
Barter - The direct trading of goods and services without the use of money.
Benefit - The gain received from voluntary exchange.
Bond - A certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturity date.
Business (firm) - Private profit-seeking organizations that use resources to produce goods and services.
Capital - All buildings, equipment, and human skills used to produce goods and services.
Capital resources - Goods made by people and used to produce other goods and services. Examples include buildings, equipment, and machinery.
Change in demand - see Demand decrease and Demand increase.
Change in supply - see Supply decrease and Supply increase.
Choice - What someone must make when faced with two or more alternative uses of a resource (also called economic choice).
Circular flow of goods and services (or Circular flow of economic activity) - A model of an economy showing the interactions between households and business firms as they exchange goods and services and resources in markets.
Collateral - Anything of value that is acceptable to a lender to guarantee repayment of a loan.
Command economy - A mode of economic organization in which the key economic functions—what, how, and for whom—are principally determined by government directive. Sometimes called a "centrally planned economy."
Comparative advantage - The principle of comparative advantage states that a country will specialize in the production of goods in which it has a lower opportunity cost than other countries.
Competition - The effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.
Complements - Products that are used with one another, such as hamburger and hamburger buns.
Consumers - People whose wants are satisfied by consuming a good or a service.
Consumption - In macroeconomics, the total spending, by individuals or a nation, on consumer goods during a given period. Strictly speaking, consumption should apply only to those goods totally used, enjoyed, or "eaten up" within that period. In practice, consumption expenditures include all consumer goods bought, many of which last well beyond the period in question—e.g., furniture, clothing, and automobiles.
Consumer spending - The purchase of consumer goods and services.
Corporation - A legal entity owned by stockholders whose liability is limited to the value of their stock.
Costs - See Opportunity Cost.
Costs of production - All resources used in producing goods and services, for which owners receive payments.
Craftsperson - A worker who completes all steps in the production of a good or service.
Credit - (1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
Criteria - Standards or measures of value that people use to evaluate what is most important.
Decision making - Choosing from alternatives the one with the greatest benefit net of costs.
Deflation - A sustained and continuous decrease in the general price level.
Demand - A schedule of how much consumers are willing and able to buy at all possible prices during some time period.
Demand decrease - A decrease in the quantity demanded at every price; a shift to the left of the demand curve.
Demand increase - An increase in the quantity demanded at every price; a shift to the right of the demand curve.
Determinants of demand - Factors that influence consumer purchases of goods, services, or resources.
Determinants of supply - Factors that influence producer decisions about goods, services, or resources.
Distribution - The manner in which total output and income are distributed among individuals or factors (e.g., the distribution of income between labor and capital).
Division of labor - The process whereby workers perform only a single or a very few steps of a major production task (as when working on an assembly line).
Durables - Consumer goods expected to last longer than three years.
Earn - Receive payment (income) for productive efforts.
Economic growth - An increase in the total output of a nation over time. Economic growth is usually measured as the annual rate of increase in a nation's real GDP.
Economic system - The collection of institutions, laws, activities, controlling values, and human motivations that collectively provide a framework for economic decision-making.
Economic wants - Desires that can be satisfied by consuming a good or a service. Some economic wants range from things needed for survival to things that are nice to have.
Employment - See Full employment.
Entrepreneur - One who organizes, manages, and assumes the risks of a business or enterprise.
Entrepreneurship - The human resource that assumes the risk of organizing other productive resources to produce goods and services.
Equilibrium price - The market clearing price at which the quantity demanded by buyers equals the quantity supplied by sellers.
Exchange - Trading goods and services with others for other goods and services or for money (also called trade). When people exchange voluntarily, they expect to be better off as a result.
Exchange rates - The rate or price at which one country's currency is exchanged for the currency of another country.
Excise Tax - Taxes imposed on specific goods and services, such as cigarettes and gasoline.
Exports - Goods or services produced in one nation but sold to buyers in another nation.
Factors of production - Resources used by businesses to produce goods and services.
Federal Reserve System - The central bank and monetary authority of the United States.
Final goods - Products that end up in the hands of consumers.
Fiscal policy - A government's program with respect to (1) the purchase of goods and services and spending on transfer payments, and (2) the amount and type of taxes.
Functions of money - The roles played by money in an economy. These roles include medium of exchange, standard of value, and store of value.
Full employment - A term that is used in many senses. Historically, it was taken to be that level of employment at which no (or minimal) involuntary unemployment exists. Today economists rely upon the concept of the natural rate of unemployment to indicate the highest sustainable level of employment over the long run.
Goods - Objects that can satisfy people's wants.
Government - National, state, and local agencies that use tax revenues to provide goods and services for their citizens.
Gross domestic product (GDP) - The value, expressed in dollars, of all final goods and services produced in a year.
Gross domestic product (GDP), real - GDP corrected for inflation.
Households - Individuals and family units which, as consumers, buy goods and services from firms and, as resource owners, sell or rent productive resources to business firms.
Human capital - The health, strength, education, training, and skills which people bring to their jobs.
Human resources - The quantity and quality of human effort directed toward producing goods and services (also called labor).
Incentives - Factors that motivate and influence the behavior of households and businesses. Prices, profits, and losses act as incentives for participants to take action in a market economy.
Imports - Goods or services bought from sellers in another nation.
Income - The payments made for the use of borrowed or loaned money.
Increase in productivity - When the same amount of output can be produced with fewer inputs; more output can be produced with the same amount of inputs; or a combination of the two.
Inflation - A sustained and continuous increase in the general price level.
Interdependence - Dependence on others for goods and services; occurs as a result of specialization.
Interest rates - The price paid for borrowing money for a period of time, usually expressed as a percentage of the principal per year.
Investment in capital goods - Occurs when savings are used to increase the economy's productive capacity by financing the construction of new factories, machines, means of communication, and the like.
Investment - The purchase of a security, such as a stock or bond.
Investment in capital resources - Business purchases of new plant and equipment.
Investment in human capital - An action taken to increase the productivity of workers. These actions can include improving skills and abilities, education, health, or mobility of workers.
Labor force - That group of people 16 years of age and older who are either employed or unemployed.
Labor market - A setting in which workers sell their human resources and employers buy human resources.
Labor union - A group of employees who join together to improve their terms of employment.
Land - Natural resources or gifts of nature that are used to produce goods and services.
Law of demand - The principle that price and quantity demanded are inversely related.
Law of supply - The principle that price and quantity supplied are directly related.
Loss - A business situation in which the total cost of production exceeds total revenue; negative profit.
Market - A setting where buyers and sellers establish prices for identical or very similar products, and exchange goods and/or services.
Market economy - An economic system where most goods and services are exchanged through transactions by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets.
Medium of exchange - One of the functions of money whereby people exchange goods and services for money and in turn use money to obtain other goods and services.
Mixed economy - The dominant form of economic organization in non-communist countries. Mixed economies rely primarily on the price system for their economic organization but use a variety of government interventions (such as taxes, spending, and regulation) to handle macroeconomic instability and market failures.
Monetary policy - The objectives of the central bank in exercising its control over money, interest rates, and credit conditions. The
From India, Ahmadabad
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Absolute advantage - The ability to produce something with fewer resources than other producers would use to produce the same thing.
Alternatives - Options among which to make choices.
Balance of trade - The part of a nation's balance of payments that deals with merchandise (or visible) imports or exports.
Bank, commercial - A financial institution that accepts checking deposits, holds savings, sells traveler's checks, and performs other financial services.
Barter - The direct trading of goods and services without the use of money.
Benefit - The gain received from voluntary exchange.
Bond - A certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturity date.
Business (firm) - Private profit-seeking organizations that use resources to produce goods and services.
Capital - All buildings, equipment, and human skills used to produce goods and services.
Capital resources - Goods made by people and used to produce other goods and services. Examples include buildings, equipment, and machinery.
Change in demand - see Demand decrease and Demand increase.
Change in supply - see Supply decrease and Supply increase.
Choice - What someone must make when faced with two or more alternative uses of a resource (also called economic choice).
Circular flow of goods and services (or Circular flow of economic activity) - A model of an economy showing the interactions between households and business firms as they exchange goods and services and resources in markets.
Collateral - Anything of value that is acceptable to a lender to guarantee repayment of a loan.
Command economy - A mode of economic organization in which the key economic functions—what, how, and for whom—are principally determined by government directive. Sometimes called a "centrally planned economy."
Comparative advantage - The principle of comparative advantage states that a country will specialize in the production of goods in which it has a lower opportunity cost than other countries.
Competition - The effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.
Complements - Products that are used with one another such as hamburger and hamburger buns.
Consumers - People whose wants are satisfied by consuming a good or a service.
Consumption - In macroeconomics, the total spending, by individuals or a nation, on consumer goods during a given period. Strictly speaking, consumption should apply only to those goods totally used, enjoyed, or "eaten up" within that period. In practice, consumption expenditures include all consumer goods bought, many of which last well beyond the period in question—e.g., furniture, clothing, and automobiles.
Consumer spending - The purchase of consumer goods and services.
Corporation - A legal entity owned by stockholders whose liability is limited to the value of their stock.
Costs - See Opportunity Cost.
Costs of production - All resources used in producing goods and services, for which owners receive payments.
Craftsperson - A worker who completes all steps in the production of a good or service.
Credit - (1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
Criteria - Standards or measures of value that people use to evaluate what is most important.
Decision-making - Choosing from alternatives the one with the greatest benefit net of costs.
Deflation - A sustained and continuous decrease in the general price level.
Demand - A schedule of how much consumers are willing and able to buy at all possible prices during some time period.
Demand decrease - A decrease in the quantity demanded at every price; a shift to the left of the demand curve.
Demand increase - An increase in the quantity demanded at every price; a shift to the right of the demand curve.
Determinants of demand - Factors that influence consumer purchases of goods, services, or resources.
Determinants of supply - Factors that influence producer decisions about goods, services, or resources.
Distribution - The manner in which total output and income are distributed among individuals or factors (e.g., the distribution of income between labor and capital).
Division of labor - The process whereby workers perform only a single or a very few steps of a major production task (as when working on an assembly line).
Durables - Consumer goods expected to last longer than three years.
Earn - Receive payment (income) for productive efforts.
Economic growth - An increase in the total output of a nation over time. Economic growth is usually measured as the annual rate of increase in a nation's real GDP.
Economic system - The collection of institutions, laws, activities, controlling values, and human motivations that collectively provide a framework for economic decision-making.
Economic wants - Desires that can be satisfied by consuming a good or a service. Some economic wants range from things needed for survival to things that are nice to have.
Employment - See Full employment.
Entrepreneur - One who organizes, manages, and assumes the risks of a business or enterprise.
Entrepreneurship - The human resource that assumes the risk of organizing other productive resources to produce goods and services.
Equilibrium price - The market clearing price at which the quantity demanded by buyers equals the quantity supplied by sellers.
Exchange - Trading goods and services with others for other goods and services or for money (also called trade). When people exchange voluntarily, they expect to be better off as a result.
Exchange rates - The rate, or price, at which one country's currency is exchanged for the currency of another country.
Excise Tax - Taxes imposed on specific goods and services, such as cigarettes and gasoline.
Exports - Goods or services produced in one nation but sold to buyers in another nation.
Factors of production - Resources used by businesses to produce goods and services.
Federal Reserve System - The central bank and monetary authority of the United States.
Final goods - Products that end up in the hands of consumers.
Fiscal policy - A government's program with respect to (1) the purchase of goods and services and spending on transfer payments, and (2) the amount and type of taxes.
Functions of money - The roles played by money in an economy. These roles include medium of exchange, standard of value, and store of value.
Full employment - A term that is used in many senses. Historically, it was taken to be that the level of employment at which no (or minimal) involuntary unemployment exists. Today economists rely upon the concept of the natural rate of unemployment to indicate the highest sustainable level of employment over the long run.
Goods - Objects that can satisfy people's wants.
Government - National, state, and local agencies that use tax revenues to provide goods and services for their citizens.
Gross domestic product (GDP) - The value, expressed in dollars, of all final goods and services produced in a year.
Gross domestic product (GDP), real - GDP corrected for inflation.
Households - Individuals and family units that, as consumers, buy goods and services from firms and, as resource owners, sell or rent productive resources to business firms.
Human capital - The health, strength, education, training, and skills which people bring to their jobs.
Human resources - The quantity and quality of human effort directed toward producing goods and services (also called labor).
Incentives - Factors that motivate and influence the behavior of households and businesses. Prices, profits, and losses act as incentives for participants to take action in a market economy.
Imports - Goods or services bought from sellers in another nation.
Income - The payments made for the use of borrowed or loaned money.
Increase in productivity - When the same amount of an output can be produced with fewer inputs; more output can be produced with the same amount of inputs; or a combination of the two.
Inflation - A sustained and continuous increase in the general price level.
Interdependence - Dependence on others for goods and services; occurs as a result of specialization.
Interest rates - The price paid for borrowing money for a period of time, usually expressed as a percentage of the principal per year.
Investment in capital goods - Occurs when savings are used to increase the economy's productive capacity by financing the construction of new factories, machines, means of communication, and the like.
Investment - The purchase of a security, such as a stock or bond.
Investment in capital resources - Business purchases of new plant and equipment.
Investment in human capital - An action taken to increase the productivity of workers. These actions can include improving skills and abilities, education, health, or mobility of workers.
Labor force - That group of people 16 years of age and older who are either employed or unemployed.
Labor market - A setting in which workers sell their human resources and employers buy human resources.
Labor union - A group of employees who join together to improve their terms of employment.
Land - Natural resources or gifts of nature that are used to produce goods and services.
Law of demand - The principle that price and quantity demanded are inversely related.
Law of supply - The principle that price and quantity supplied are directly related.
Loss - Business situation in which the total cost of production exceeds total revenue; negative profit.
Market - A setting where buyers and sellers establish prices for identical or very similar products, and exchange goods and/or services.
Market economy - An economic system where most goods and services are exchanged through transactions by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets.
Medium of exchange - One of the functions of money whereby people exchange goods and services for money and in turn use money to obtain other goods and services.
Mixed economy - The dominant form of economic organization in non-communist countries. Mixed economies rely primarily on the price system for their economic organization but use a variety of government interventions (such as taxes, spending, and regulation) to handle macroeconomic instability and market failures.
Monetary policy - The objectives of the central bank in exercising its control over money, interest rates, and credit conditions. The instruments of monetary policy are primarily open
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Alternatives - Options among which to make choices.
Balance of trade - The part of a nation's balance of payments that deals with merchandise (or visible) imports or exports.
Bank, commercial - A financial institution that accepts checking deposits, holds savings, sells traveler's checks, and performs other financial services.
Barter - The direct trading of goods and services without the use of money.
Benefit - The gain received from voluntary exchange.
Bond - A certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturity date.
Business (firm) - Private profit-seeking organizations that use resources to produce goods and services.
Capital - All buildings, equipment, and human skills used to produce goods and services.
Capital resources - Goods made by people and used to produce other goods and services. Examples include buildings, equipment, and machinery.
Change in demand - see Demand decrease and Demand increase.
Change in supply - see Supply decrease and Supply increase.
Choice - What someone must make when faced with two or more alternative uses of a resource (also called economic choice).
Circular flow of goods and services (or Circular flow of economic activity) - A model of an economy showing the interactions between households and business firms as they exchange goods and services and resources in markets.
Collateral - Anything of value that is acceptable to a lender to guarantee repayment of a loan.
Command economy - A mode of economic organization in which the key economic functions—what, how, and for whom—are principally determined by government directive. Sometimes called a "centrally planned economy."
Comparative advantage - The principle of comparative advantage states that a country will specialize in the production of goods in which it has a lower opportunity cost than other countries.
Competition - The effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms.
Complements - Products that are used with one another such as hamburger and hamburger buns.
Consumers - People whose wants are satisfied by consuming a good or a service.
Consumption - In macroeconomics, the total spending, by individuals or a nation, on consumer goods during a given period. Strictly speaking, consumption should apply only to those goods totally used, enjoyed, or "eaten up" within that period. In practice, consumption expenditures include all consumer goods bought, many of which last well beyond the period in question—e.g., furniture, clothing, and automobiles.
Consumer spending - The purchase of consumer goods and services.
Corporation - A legal entity owned by stockholders whose liability is limited to the value of their stock.
Costs - See Opportunity Cost.
Costs of production - All resources used in producing goods and services, for which owners receive payments.
Craftsperson - A worker who completes all steps in the production of a good or service.
Credit - (1) In monetary theory, the use of someone else's funds in exchange for a promise to pay (usually with interest) at a later date. The major examples are short-term loans from a bank, credit extended by suppliers, and commercial paper. (2) In balance-of-payments accounting, an item such as exports that earns a country foreign currency.
Criteria - Standards or measures of value that people use to evaluate what is most important.
Decision-making - Choosing from alternatives the one with the greatest benefit net of costs.
Deflation - A sustained and continuous decrease in the general price level.
Demand - A schedule of how much consumers are willing and able to buy at all possible prices during some time period.
Demand decrease - A decrease in the quantity demanded at every price; a shift to the left of the demand curve.
Demand increase - An increase in the quantity demanded at every price; a shift to the right of the demand curve.
Determinants of demand - Factors that influence consumer purchases of goods, services, or resources.
Determinants of supply - Factors that influence producer decisions about goods, services, or resources.
Distribution - The manner in which total output and income are distributed among individuals or factors (e.g., the distribution of income between labor and capital).
Division of labor - The process whereby workers perform only a single or a very few steps of a major production task (as when working on an assembly line).
Durables - Consumer goods expected to last longer than three years.
Earn - Receive payment (income) for productive efforts.
Economic growth - An increase in the total output of a nation over time. Economic growth is usually measured as the annual rate of increase in a nation's real GDP.
Economic system - The collection of institutions, laws, activities, controlling values, and human motivations that collectively provide a framework for economic decision-making.
Economic wants - Desires that can be satisfied by consuming a good or a service. Some economic wants range from things needed for survival to things that are nice to have.
Employment - See Full employment.
Entrepreneur - One who organizes, manages, and assumes the risks of a business or enterprise.
Entrepreneurship - The human resource that assumes the risk of organizing other productive resources to produce goods and services.
Equilibrium price - The market clearing price at which the quantity demanded by buyers equals the quantity supplied by sellers.
Exchange - Trading goods and services with others for other goods and services or for money (also called trade). When people exchange voluntarily, they expect to be better off as a result.
Exchange rates - The rate, or price, at which one country's currency is exchanged for the currency of another country.
Excise Tax - Taxes imposed on specific goods and services, such as cigarettes and gasoline.
Exports - Goods or services produced in one nation but sold to buyers in another nation.
Factors of production - Resources used by businesses to produce goods and services.
Federal Reserve System - The central bank and monetary authority of the United States.
Final goods - Products that end up in the hands of consumers.
Fiscal policy - A government's program with respect to (1) the purchase of goods and services and spending on transfer payments, and (2) the amount and type of taxes.
Functions of money - The roles played by money in an economy. These roles include medium of exchange, standard of value, and store of value.
Full employment - A term that is used in many senses. Historically, it was taken to be that the level of employment at which no (or minimal) involuntary unemployment exists. Today economists rely upon the concept of the natural rate of unemployment to indicate the highest sustainable level of employment over the long run.
Goods - Objects that can satisfy people's wants.
Government - National, state, and local agencies that use tax revenues to provide goods and services for their citizens.
Gross domestic product (GDP) - The value, expressed in dollars, of all final goods and services produced in a year.
Gross domestic product (GDP), real - GDP corrected for inflation.
Households - Individuals and family units that, as consumers, buy goods and services from firms and, as resource owners, sell or rent productive resources to business firms.
Human capital - The health, strength, education, training, and skills which people bring to their jobs.
Human resources - The quantity and quality of human effort directed toward producing goods and services (also called labor).
Incentives - Factors that motivate and influence the behavior of households and businesses. Prices, profits, and losses act as incentives for participants to take action in a market economy.
Imports - Goods or services bought from sellers in another nation.
Income - The payments made for the use of borrowed or loaned money.
Increase in productivity - When the same amount of an output can be produced with fewer inputs; more output can be produced with the same amount of inputs; or a combination of the two.
Inflation - A sustained and continuous increase in the general price level.
Interdependence - Dependence on others for goods and services; occurs as a result of specialization.
Interest rates - The price paid for borrowing money for a period of time, usually expressed as a percentage of the principal per year.
Investment in capital goods - Occurs when savings are used to increase the economy's productive capacity by financing the construction of new factories, machines, means of communication, and the like.
Investment - The purchase of a security, such as a stock or bond.
Investment in capital resources - Business purchases of new plant and equipment.
Investment in human capital - An action taken to increase the productivity of workers. These actions can include improving skills and abilities, education, health, or mobility of workers.
Labor force - That group of people 16 years of age and older who are either employed or unemployed.
Labor market - A setting in which workers sell their human resources and employers buy human resources.
Labor union - A group of employees who join together to improve their terms of employment.
Land - Natural resources or gifts of nature that are used to produce goods and services.
Law of demand - The principle that price and quantity demanded are inversely related.
Law of supply - The principle that price and quantity supplied are directly related.
Loss - Business situation in which the total cost of production exceeds total revenue; negative profit.
Market - A setting where buyers and sellers establish prices for identical or very similar products, and exchange goods and/or services.
Market economy - An economic system where most goods and services are exchanged through transactions by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets.
Medium of exchange - One of the functions of money whereby people exchange goods and services for money and in turn use money to obtain other goods and services.
Mixed economy - The dominant form of economic organization in non-communist countries. Mixed economies rely primarily on the price system for their economic organization but use a variety of government interventions (such as taxes, spending, and regulation) to handle macroeconomic instability and market failures.
Monetary policy - The objectives of the central bank in exercising its control over money, interest rates, and credit conditions. The instruments of monetary policy are primarily open
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1. "'Everyone is a changemaker' is written by (A) Bill Clinton (B) Bill Gates, (C) Bill Drayton, (D) Bill Bradson.
2. What is the most important social component in Social Entrepreneurship? (A) Social work, (B) Social Movement, (C) Social value, (D) Social Change.
3. The term 'Entrepreneurship' is introduced by (A) Jean Baptiste Say, (B) Schumpeter, (C) J. Gregory Dees, (D) Milton Keynes.
4. "The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." Who says it? (A) Karl Marx, (B) Jean Baptiste Say, (C) Schumpeter, (D) Amartya Sen.
5. Social Enterprises are (A) NGOs, (B) For-Profit Organizations, (C) Not-For-Profit Organizations, (D) having no unique legal structure.
6. Attribute is (A) a variate, (B) a qualitative variable, (C) a quantitative variable, (D) None of the above.
From India, Ahmadabad
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2. What is the most important social component in Social Entrepreneurship? (A) Social work, (B) Social Movement, (C) Social value, (D) Social Change.
3. The term 'Entrepreneurship' is introduced by (A) Jean Baptiste Say, (B) Schumpeter, (C) J. Gregory Dees, (D) Milton Keynes.
4. "The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." Who says it? (A) Karl Marx, (B) Jean Baptiste Say, (C) Schumpeter, (D) Amartya Sen.
5. Social Enterprises are (A) NGOs, (B) For-Profit Organizations, (C) Not-For-Profit Organizations, (D) having no unique legal structure.
6. Attribute is (A) a variate, (B) a qualitative variable, (C) a quantitative variable, (D) None of the above.
From India, Ahmadabad
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