G.K. Practice Test: Question Set - 01
1. Recent industrial development of India is largely due to
- (A) Rationalization of raw materials
- (B) Availability
of skilled manpower
- (C) Liberalization of government policies
- (D) Increase
in market demand
2. Elasticity of demand is a tendency of demand to
- (A) Increase or
decrease on the change of price
- (B) Increase
on the rising of price
- (C) Decrease
on the falling on price
- (D) Consistency
of demand on rising and falling prices
3. Shares with a fixed rate of dividend that entitle their holders to priority payment over those who hold ordinary shares of a company are called
- (A) Preference
shares
- (B) Bull
- (C) Bear
- (D) Shareholder
4. Ten-rupee note contains the signature of
- (A) Finance
Secretary, Government of India
- (B) Chairman,
Reserve Bank of India
- (C) Finance
Minister, Government of India
- (D) Governor,
Reserve Bank of India
5. Modvat is
- (A) Modified
value added
- (B) A term used
in excise which is a new scheme of indirect taxes
- (C) Scheme which
allows a manufacturer to claim instant reimbursement of the excise duty paid on
the raw materials used for the production of the final good
- (D) All of the
above
6. The market condition when goods and services are not freely available and thus the prices are relatively high is called
- (A) Rights issue
- (B) Sinking fund
- (C) Seller’s
market
- (D) Recession
7. What is ‘Estate Duty’?
- (A) Duty
to one’s motherland
- (B) Duty to
one’s home and property
- (C) A kind of
tax
- (D) None of
these
8. Population Explosion in a country means
- (A) High birth
rate and high death rate
- (B) High
birth rate and low death rate
- (C) Low birth
rate and high death rate
- (D) Low birth
rate and low death rate
9. The company that has acquired interest in different industries by taking over or merging with other companies, is called
- (A) Collateral
- (B) Coalition
- (C) Conglomerate
- (D) None of the
above
10. In India, while defining an urban area, the most important consideration besides the size of its population is that it should have
- (A) Half of its
male working in non-primary sector
- (B) A
police station, a telegraph office and telephone facility
- (C) A police
station, a college and a hospital
- (D) Three-fourth
of its male working on non-agricultural pursuits
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