GK Practice Question and Answer
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Q: Production function expresses
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638f111a58400a550dc7fb8a- 1technological relationship between physical inputs and outputtrue
- 2financial relationship between physical inputs and outputfalse
- 3relationship between finance and technologyfalse
- 4relationship between factors of productionfalse
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Answer : 1. "technological relationship between physical inputs and output"
Q: In the law of demand, the statement “Other things remain constant” means
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638f109434f83f147296ab4d- 1income of consumer should not changefalse
- 2price of other goods should not changefalse
- 3taste of consumer should not changefalse
- 4All of the abovetrue
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Answer : 4. "All of the above"
Q: One of the essential conditions of Monopolistic competition is
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638f101a9ebad6607ba162b9- 1Many buyers but one sellerfalse
- 2Price discriminationfalse
- 3Product differentiationtrue
- 4Homogeneous productfalse
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Answer : 3. "Product differentiation "
Q: The ‘break-even point’ is where
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638f0f98d319b37ca1813bd2- 1marginal revenue equals marginal costfalse
- 2average revenue equals average costtrue
- 3total revenue equals total costfalse
- 4None of thesefalse
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Answer : 2. "average revenue equals average cost"
Q: When marginal utility is zero, the total utility is
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638f0eef34f83f147296a590- 1Minimumfalse
- 2Increasingfalse
- 3Maximumtrue
- 4Decreasingfalse
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Answer : 3. "Maximum "
Q: Average Revenue means
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638f0e92d319b37ca1812928- 1the revenue per unit of commodity soldtrue
- 2the revenue from all commodities soldfalse
- 3the profit realised from the marginal unit soldfalse
- 4the profit realised by sale of all commoditiesfalse
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Answer : 1. "the revenue per unit of commodity sold"
Q: The theory of distribution relates to which of the following?
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638f0de39ebad6607ba13684- 1The distribution of assetsfalse
- 2The distribution of incomefalse
- 3The distribution of factor paymentsfalse
- 4Equality in the distribution of the income and wealthtrue
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Answer : 4. "Equality in the distribution of the income and wealth"
Q: Which one of the following in the atmosphere is mainly responsible for absorbing terrestrial radiation?
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638e24ba34f83f147292039c- 1Oxygenfalse
- 2Ozonefalse
- 3Carbon dioxidetrue
- 4Nitrogenfalse
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Answer : 3. "Carbon dioxide"
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