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Home General Awareness SSC CGL Economy Quiz: 1st May

SSC CGL Economy Quiz: 1st May

Dear Readers, GA section is taken on the light note but plays a vital role in achieving the score required to cross the cut off marks. We are providing important Economy Questions for this, it will help you to score well in GA section if you regularly follow the contents provided on scaffold website and Adda247 app regarding general knowledge important questions. We wish you the best wishes for all the upcoming exams.

Q1. Operating Surplus arises in the-
ऑपरेटिंग अधिशेष किस में आता है?
(a) Government Sector/ सरकारी क्षेत्र
(b) Production for self-consumption/ स्वयं उपभोग के लिए उत्पादन
(c) Subsistence farming / उपउत्पाद कृषि
(d) Enterprise Sector/ उद्यम क्षेत्र

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S1. Ans.(d)
Sol. The operating surplus of an enterprise measures the difference between revenue and expenditure – i.e. the surplus or deficit – accruing from production.

Q2. Cost of production of the producer is given by-
निर्माता के उत्पादन की लागत किसके द्वारा दी जाती है?
(a) Sum of wages paid to labourers/ मजदूरों को उनके वेतन के योग का भुगतान
(b) Sum of wages and interest paid on capital/ पूंजी पर मजदूरी और ब्याज के योग का भुगतान
(c) Sum of wages, interest rent and supernormal profit/ मजदूरी, ब्याज किराया और असाधारण लाभ का योग
(d) Sum of wages, interest, rent and normal profit/ मजदूरी, ब्याज, किराया और सामान्य लाभ का योग

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S2. Ans.(d)
Sol. The concept of cost of production is very significant in economics because it influences the production, supply, sales and the determination of price in the market.

Q3. Production refers to-
उत्पादन का अर्थ है?
(a) Destruction of utility / उपयोगिता का विनाश
(b) Creation of utilities/ उपयोगिता का निर्माण
(c) Exchange value / विनिमय मूल्य
(d) Use of a product/ उत्पाद का उपयोग

Show Answer
S3. Ans.(b)
Sol. Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output). It is the act of creating output, a good or service which has value and contributes to the utility of individuals.

Q4. Selling cost means-
बिक्री लागत का अर्थ है?
(a) Cost of selling a product/ एक उत्पाद को बेचने की लागत
(b) Cost incurred in transportation/ परिवहन में किया गया खर्च
(c) Cost Incurred in advertisement/ विज्ञापन में खर्च लागत
(d) Cost Incurred on factors of production/ उत्पादन के साधन पर खर्च लागत

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S4. Ans.(c)
Sol. Selling costs: Expenses incurred in the marketing and distribution of a product.
Q5. Prime cost is equal to-
मूल लागत किस के बराबर है?
(a) Variable cost plus administrative cost/ परिवर्तनीय लागत जमा प्रशासनिक लागत
(b) Variable cost plus fixed cost/ परिवर्तनीय लागत जमा निश्चित लागत
(c) Variable cost only/ केवल परिवर्तनीय लागत
(d) Fixed cost only/ केवल निश्चित लागत
Show Answer
S5. Ans.(c)
Sol. A variable cost is a corporate expense that changes in proportion with production output.Prime costs are all of the costs that are directly attributed to the production of each product.

Q6. The tragedy of the commons is a term coined by?
‘कॉमन्स की त्रासदी’ टर्म किसके द्वारा दिया गया है?
(a) Garett Hardin / गैरेट हार्डिन
(b) Seligman/ सेलिग्मन
(c) Adolph Wagner / एडॉल्फ वाग्नेर
(d) A.P Lernier/ ए.पी. लर्नर

Show Answer
S6. Ans.(a)
Sol. The tragedy of the commons is a term coined by scientist Garrett Hardin in 1968 describing what can happen in groups when individuals act in their own best self interests and ignore what’s best for the whole group.

Q7. In Economics the capital mainly owned by the government that is the basic infrastructure facilities and services needed for the functioning of a community or society is known as-
अर्थशास्त्र में, सरकार के मुख्य रूप से स्वामित्व वाली वह पूंजी, जो आधारभूत बुनियादी सुविधाएं और सेवाएं किसी समुदाय या समाज के कामकाज के लिए आवश्यक हो, क्या कहलाते है?
(a) Human capital / मानव पूंजी
(b) Physical capital/ भौतिक पूँजी
(c) Social overheads capital/ सामाजिक उपरिव्यय पूंजी
(d) Working capital/ कार्यशील पूंजी

Show Answer
S7. Ans.(c)
Sol. A Social Overhead Capital (SOC) is the social capital mainly owned by the government that is the basic facilities and services needed for the functioning of a community or society, such as transportation (roads), education and health (schools, public libraries, and hospitals), communications and utilities (telephones, water, electricity), etc. The SOC term can be used as the economic overhead facilities and economic infrastructure.

Q8. The economies which occur to the firm itself when it expands its output are called as? –
जो अर्थव्यवस्थाएं स्वयं व्यवसाय के रूप में अस्तित्व में आती हैं और इनका उत्पादन विकसित होता है, क्या कहलाती हैं?
(a) Internal Economies/ आंतरिक अर्थव्यवस्थाएं
(b) External Economies / बाह्य अर्थव्यवस्थाएं
(c) Closed Economies/ बंद अर्थव्यवस्थाएं
(d) None of these/ इनमें से कोई नहीं

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S8. Ans.(a)
Sol. Internal economies are those economies in production which occur to the firm itself when it expands its output or enlarge its scale of production.

Q9. The situation to make someone better-off without making someone worse-off in terms of economics is called?
अर्थशास्त्र के संदर्भ में, किसी को खराब किए बिना बेहतर बनाने की स्थिति को क्या कहा जाता है?
(a) Pareto efficiency / पारेटो दक्षता
(b) Efficient/ दक्षता
(c) Optimal / सर्वोत्कृष्ट
(d) Inefficient/ अयोग्यता

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S9. Ans.(a)
Sol. Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

Q10. In economics, a good whose demand decreases when consumer income rises is called?
अर्थशास्त्र में, उपभोक्ता की आय बढ़ने पर वस्तु की मांग में कमी होती है, उसे क्या कहा जाता है ?
(a) Veblen good / वेबलेन वस्तु
(b) Normal good/ सामान्य वस्तु
(c) Exclusive good/ विशिष्ट वस्तु
(d) Inferior good/ निचली वस्तु

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S10. Ans.(d)
Sol. In economics, an inferior good is a good whose demand decreases when consumer income rises (or demand increases when consumer income decreases), unlike normal goods, for which the opposite is observed.

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