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Free gk questions Online Test - MeritNotes
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No. of Questions :10
Remaining Time :
1. The changing agent of the society is called _____
(a)
Woman
(b)
Man
(c)
Organizer
(d)
Labour
2. _____ refers to all those natural resources or gifts of nature which are provided free to man.
(a)
Organization
(b)
Capital
(c)
Labour
(d)
Land
3. According Ricardo rent is the payment made for the use of land for its _____ powers.
(a)
Material
(b)
Perishable
(c)
Destructible
(d)
Original
4. _____ referred by ‘rent’ to the payment made for the use of agricultural land.
(a)
Robbins
(b)
Ricardo
(c)
Malthus
(d)
Marshall
5. If total outlay falls for a fall in price such elasticity is called _____
(a)
Perfectly inelastic demand
(b)
Elastic demand
(c)
Inelastic demand
(d)
Unitary elastic
6. At the point of equilibrium _____
(a)
At the point of equilibrium
(b)
Quantity demanded = quantity supplied
(c)
Only one price prevails
(d)
All the above
7. The factors used in production have to be rewarded on the basis for their _____
(a)
Cost of production
(b)
Productivity
(c)
Supply
(d)
Demand
8. The shape of the exception to the law of demand is _____
(a)
Vertical
(b)
Horizontal
(c)
Upward sloping
(d)
Downward sloping
9. All desires, takes and motives of human begins are called _____ in economics.
(a)
Wants
(b)
Utility
(c)
Demand
(d)
Consumption
10. Co-existence of public and private sector is called _____ economy.
(a)
Capitalist
(b)
Traditional
(c)
Socialist
(d)
Mixed