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GK - Economics Test - 01

1. A firm is said to be of optimum size when

a. average total cost is at a minimum

b. marginal cost is at a minimum

c. marginal cost is equal to marginal revenue

d. the firm is maximising its profit

2. Which one of the following is not a flow concept ?

a. Production

b. Capital

c. Investment

d. Consumption

3. Slationalisation or public control of an industry is often supported by economists because

a. if has been making excessive losses

b. it has been making continuous profits

c. it is a natural monopoly

d. similar industries in another country have been nationalised

4. The slope of an indifference curve represents the

a. elasticity of demand for a good

b. marginal rate of substitution between two goods

c. ratio of the prices of two goods

d. position of consumer equilibrium

5. Under perfect competition and liorl run, a firm would continue to produce, provided

a. it is able to recover its variable costs

b. it is able to recover its total cost

c. its loss does not exceed a specified amount

d. it is able to recover its fixed costs

6. An upward and leftward movement of an upward-sloping supply curve for a commodity could be caused by all of the following, except

a. the imposition of an excise tax

b. a shift of tastes in favour of the product

c. a fall in productivity

d. a rise in production costs

7. If the elasticity of demand for a good is equal to (-)2 then a 1 percent price rise will

a. raise the quantity demanded by 2 percent

b. raise the total revenue by 1 percent

c. lower the quantity demanded by 2 percent

d. lower the quantity demanded by 1 percent

8. The open market operations refer to the sale and purchase by the RBI of

a. foreign exchange

b. gold

c. government securities

d. all of these

9. Disguised unemployment is the prominent feature of

a. tertiary sector

b. secondary sector

c. primary sector

d. all of the above

10. Perfect competition is said to exist if

a. firms are not independent of each other

b. each firm in the industry accepts the market price because it has to

c. the industry consists of a small number of firms

d. the demand curve for the industry is perfectly elastic

General Knowledge

1. World Geography -Test-01

2. World Geography -Test-02

3. World Geography -Test-03

4. Geography of India -Test-01

5. Geography of India -Test-02

6. Geography of India -Test-03

7. Geography of India -Test-04

8. Geography of India -Test-05

9. History of India - Test - 01

10. History of India - Test - 02

11. History of India - Test - 03

12. History of India - Test - 04

13. History of India - Test - 05

14. History of India - Test - 06

15. History of India - Test - 07

16. INM-Test-01

17. INM-Test-02

18. INM-Test-03

19. INM-Test-04

20. INM-Test-05

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Valentines Day Dessert Recipes

Banana cake with peanut butter frosting

A re organized recipes page and a re vamped resources for food bloggers page. An amazing video from my friends Alex and Sonja about how to make homemade pizza dough. Someday when I get a stand mixer, or become more sophisticated, or fall out of love with Dominos cheese pizza and breadsticks, I will make this homemade pizza dough and it will be awe some.

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