Science Stream Topics
Undergraduate level — Science Stream
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quiz Questions
Q141
A market situation with single seller is called
Revenue deficit
Fiscal deficit
Primary deficit
Monopoly
Explanation
Monopoly refers to one seller and many buyers.
Q142
A market with many buyers and many sellers is
Fiscal deficit
Perfect competition
Primary deficit
Revenue deficit
Explanation
Perfect competition has numerous buyers and sellers with homogeneous product.
Q143
Price elasticity of demand measures responsiveness of
Primary deficit
Fiscal deficit
Revenue deficit
Demand to price changes
Explanation
PED shows percentage change in quantity demanded due to price change.
Q144
National income in India is measured mainly by
Revenue deficit
Fiscal deficit
Central Statistics Office
Primary deficit
Explanation
MoSPI through National Statistical Office compiles national accounts.
Q145
GDP stands for
Primary deficit
Fiscal deficit
Gross Domestic Product
Revenue deficit
Explanation
GDP is total value of final goods and services produced within a country.
Q146
GNP is GDP plus
Primary deficit
Fiscal deficit
Revenue deficit
Net factor income from abroad
Explanation
GNP includes income residents earn from abroad net of payments out.
Q147
Inflation means sustained rise in
Fiscal deficit
General price level
Revenue deficit
Primary deficit
Explanation
Inflation is persistent increase in overall price level.
Q148
Deflation means
Fiscal deficit
Primary deficit
Sustained fall in general price level
Revenue deficit
Explanation
Deflation is opposite of inflation.