demand & supply, profit loss, inflation & price index section 2 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 21 [CDS-2015-II]

What is meant by ‘Public Good’?

a) A commodity whose benefits are indivisibly spread among the entire community

b) A Government scheme that benefits the poor households

c) A commodity produced by the Government

d) Any commodity that is very popular among general public

Question : 22 [CDS-2013-I]

Which one among the following is a fixed cost to a manufacturing firm in the short run?

a) Overtime payment to worker

b) Cost of energy

c) Insurance on buildings

d) Cost of raw materials

Question : 23

In an economy a condition of lack of money supply in comparison to the supply of the goods services, will lead to:

a) Hyperinflation

b) Inflation

c) Deflation

d) Devaluation

Question : 24

Disinvestment is :

a) Increase in investment.

b) Offloading of shares of private companies to government.

c) Off-loading of government shares to private companies.

d) Closing down of business concerns.

Question : 25 [UPSC (Mains) 2012]

RESIDEX, an index of residential prices in India, was launched in the year

a) 2007

b) 2008

c) 2001

d) 2004