General Knowledge Topics
Undergraduate level — General Knowledge
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quiz Questions
Q41
A market situation with single seller is called
Fiscal deficit
Primary deficit
Revenue deficit
Monopoly
Explanation
Monopoly refers to one seller and many buyers.
Q42
A market with many buyers and many sellers is
Perfect competition
Primary deficit
Revenue deficit
Fiscal deficit
Explanation
Perfect competition has numerous buyers and sellers with homogeneous product.
Q43
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.
Q44
National income in India is measured mainly by
Fiscal deficit
Primary deficit
Central Statistics Office
Revenue deficit
Explanation
MoSPI through National Statistical Office compiles national accounts.
Q45
GDP stands for
Gross Domestic Product
Fiscal deficit
Revenue deficit
Primary deficit
Explanation
GDP is total value of final goods and services produced within a country.
Q46
GNP is GDP plus
Net factor income from abroad
Fiscal deficit
Revenue deficit
Primary deficit
Explanation
GNP includes income residents earn from abroad net of payments out.
Q47
Inflation means sustained rise in
Primary deficit
General price level
Revenue deficit
Fiscal deficit
Explanation
Inflation is persistent increase in overall price level.
Q48
Deflation means
Fiscal deficit
Sustained fall in general price level
Primary deficit
Revenue deficit
Explanation
Deflation is opposite of inflation.
Q49
SI unit of force is
Joule
Newton
Pascal
Watt
Explanation
Force is measured in newton in SI system.
Q50
SI unit of work is
Joule
Watt
Pascal
Newton
Explanation
Work and energy are measured in joule.