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Home General Awareness SSC CGL Economy Quiz: 3rd April April| Watch LIVE Discussion

SSC CGL Economy Quiz: 3rd April April| Watch LIVE Discussion

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 good 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.

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Q1. Average Revenue means:
औसत राजस्व का अर्थ है-
(a) the profit realised from the marginal unit sold/ बेची गयी सीमांत इकाई से अर्जित लाभ
(b) the profit realised by sale of all commodities/ सभी वस्तुओं की बिक्री से हुआ लाभ
(c) the revenue per unit of commodity sold/ बेची गई वस्तु का प्रति इकाई राजस्व
(d) the revenue generated per month / प्रति माह अर्जित राजस्व

Show Answer
S1. Ans.(c)
Sol. Average revenue is the revenue generated per unit of output sold. It plays a role in the determination of a firm’s profit. Per unit profit is average revenue minus average (total) cost.

Q2. Which of the following is one of the essential conditions of perfect competition market :
निम्नलिखित में से कौन सा योग्य प्रतिदवंद्दी बाजार की आवश्यक शर्तों में से एक है:
(a) product differentiation/उत्पाद विभेदीकरण
(b) multiplicity of prices for identical products at any one time./ किसी एक समय में समान उत्पादों के लिए कीमतों की बहुलता
(c) many sellers and a few buyers./ कई विक्रेता और कुछ खरीदार
(d) Only one price for identical goods at any one time./ किसी एक समय में समान वस्तुओं के लिए केवल एक मूल्य

Show Answer
S2. Ans.(d)
Sol. A Perfect Competition market is that type of market in which the number of buyers and sellers is very large, all are engaged in buying and selling a homogeneous product without any artificial restrictions and possessing perfect knowledge of the market at a time. There is always one price of the commodity available in the market.

Q3. If the income of buyers falls the demand of an inferior good-
यदि खरीदारों की आय में गिरावट होती है, इन्फीरियर गुड की मांग-
(a) rises/ बढ़ेगी
(b) falls/ घटेगी
(c) remains constant/ समान रहेगी
(d) None of the above/ इनमें से कोई नहीं

Show Answer
S3. Ans.(a)
Sol. An inferior good is one whose consumption decreases when income increases and rises when income falls. The demand curve for an inferior good shifts out when income decreases and shifts in when income increases.

Q4. The income elasticity of demand is neagtive, the commodity must be
मांग की आय लोचन नकारात्मक होता है, वस्तु क्या होगा?
(a) a necessity/ आवश्यक
(b) a luxury/लक्ज़री
(c) an inferior good/ इन्फीरियर गुड
(d) None of these/इनमें से कोई नहीं

Show Answer
S4. Ans.(c)
Sol. Inferior goods have a negative income elasticity of demand; as consumers’ income rises, they buy fewer inferior goods. A typical example of such type of product is margarine, which is much cheaper than butter.

Q5. The measure of a worker’s real wage is
एक श्रमिक की वास्तविक मजदूरी का माप क्या है?
(a) The change in his productivity over a given time/ एक निश्चित समय में उनकी उत्पादकता में बदलाव
(b) His earnings after deduction at source/ स्रोत पर कटौती के बाद उनकी कमाई
(c) His daily earnings/ उसकी रोज की कमाई
(d) The purchasing power of his earnings/ उसकी कमाई की क्रय शक्ति

Show Answer
S5. Ans.(d)
Sol. The real wage represents the purchasing power of wages that is, the quantity of goods the wages will purchase

Q6. When marginal utility is zero, the total utility is
जब सीमांत उपयोगिता शून्य है, तो कुल उपयोगिता क्या होगी?
(a) Minimum / न्यूनतम
(b) Decreasing/घटेगी
(c) Maximum /अधिकतम
(d) None of these/इनमें से कोई नहीं

Show Answer
S6. Ans.(c)
Sol. Marginal utility is the additional bit of satisfaction, or amount of utility, gained from each extra unit of consumption. For example, from eating just one more cookie.Total utility is maximum when marginal utility is zero. It is based in the law of diminishing marginal utility.

Q7. In perfect competition at a point where market demands will be equal to market supply, this state is known as-
एक बिंदु पर योग्य प्रतिदवंद्दी में जहां बाजार की मांग बाजार की आपूर्ति के बराबर होगी, इस अवस्था को किस रूप में जाना जाता है?
(a) Disequilibrium/ असंतुलन
(b) Super profit/ सुपर लाभ
(c) Equilibrium/ संतुलन
(d) Normal profit/ सामान्य लाभ

Show Answer
S7. Ans.(c)
Sol. Equilibrium in perfect competition is the point where market demands will be equal to market supply. A firm’s price will be determined at this point. In the short run, equilibrium will be affected by demand. In the long run, both demand and supply of a product will affect the equilibrium in perfect competition.

Q8. In the law of demand, the statement “Other things remain constant” means
मांग के कानून में, “अन्य चीजें स्थिर रहती हैं” कथन का अर्थ है
(a) taste of consumer should not change/ उपभोक्ता की पसंद नहीं बदलनी चाहिए
(b) price of other goods should not change/ अन्य वस्तुओं की कीमत नहीं बदलनी चाहिए
(c) income of consumer should not change/ उपभोक्ता की आय में बदलाव नहीं होना चाहिए
(d) All of the above/इनमें से कोई नहीं

Show Answer

S8. Ans.(d)
Sol. The law of demand states that other factors being constant (cetris peribus), price and quantity demand of any good and service are inversely related to each other. When the price of a product increases, the demand for the same product will fall.

Q9. In Economics, production means
अर्थशास्त्र में, उत्पादन का अर्थ है?
(a) manufacturing/ विनिर्माण
(b) making/ बनाना
(c) creating utility/ उपयोगिता का निर्माण
(d) farming / खेती

Show Answer

S9. Ans.(c)
Sol. The essential characteristics of the business firm is that it purchases factors of production such as land, labour, capital, intermediate goods, and raw material from households and other business firms and transforms those resources into different goods or services which it sells to its customers, other business firms and various units of the government as also to foreign countries.

Q10. Total profit at the break-even point is-
ब्रेक-ईवन बिंदु पर कुल लाभ क्या होगा?
(a) Negative/ नकारात्मक
(b) zero/शून्य
(c) More than one/एक से अधिक
(d) None of these/इनमें से कोई नहीं

Show Answer

S10. Ans.(b)
Sol. The break-even point (BEP) or break-even level represents the sales amount—in either unit (quantity) or revenue (sales) terms—that is required to cover total costs, consisting of both fixed and variable costs to the company. Total profit at the break-even point is zero.


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