ECONOMICS AND BUSINESS ENVIRONMENT - CSEET MCQ SERIES 3

1. Giffins Goods, Articles of Snob Appeal, Speculation and Consumer’s Psychological Bias or Illusion are covered under which of the following?

a. Exceptions to the Law of Demand

b. Exceptions to the Law of Supply

c. Exceptions to the Law of Variable Proportions

d. Exceptions to the Law of Returns to Scale.

2. From the following information calculate price elasticity of demand. Quantity demanded = 100 units

Price = INR 10 / unit

When price increased to INR 20 / unit, the quantity demanded fell to 80 units. a. 1.2

b. 0.2

c. 1.5

d. 2.5

3. From the following information calculate national income. Consumption expenditure = INR 1000 Crore.

Investment Expenditure = INR 800 Crore. Government Expenditure = INR 1200 Crore Net Exports = INR 400 Crore.

a. INR 2200 Crore.

b. INR 1800 Crore

c. INR 3000 Crore

d. INR 3400 Crore

4. takes into account the flows for those transactions where the government is merely acting as a banker.

a. Profit and Loss Account

b. Consolidated Fund

c. Public Account

d. Revenue Account

5. Bank of Bengal, Bank of Bombay and Bank of Madras where were later merged and called Imperial Bank was taken over by the .

a. Bank of Baroda

b. Canara Bank

c. Punjab National Bank

d. State Bank of India

6. A / An is a company which is a financial institution carrying on as its principal business the financing of physical assets supporting productive / economic activity, like automobiles, tractors, lathe machines etc.

a. Asset Finance Company

b. Investment Company

c. Loan Company

d. Infrastructure Finance Company

7. Support for International Patent Protection in Electronics & Information Technology is managed by .

a. Ministry of Finance

b. Ministry of Agriculture

c. Ministry of Electronics & Information Technology

d. Ministry of Skill Development and Entrepreneurship

8. Which of the following may not be considered as need for promoting entrepreneurship in India?

a. Entrepreneurship promote capital formation by mobilising the idle saving of the people.

b. Entrepreneurship helps in reducing the concentration of economic power.

c. Entrepreneurship promote the equitable redistribution of wealth and income in the interest of the country

d. Entrepreneurship encourages mal practices in business.

9. If a business organisation is sued for data breach of confidential information, then this matter will be covered under which of the following as per PESTLE ?

a. Social Factors

b. Political Factors

c. Legal Factors

d. Economic Factors

10. Indian Financial Technology and Allied Services (IFTAS) is a fully owned subsidiary of:

a. Reserve Bank of India

b. State Bank of India

c. Punjab National Bank

d. HDFC Bank

Answers

1-a 2-b 3-d 4-c 5-d

6-a 7-c 8-d 9-c 10-a