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Target SSC CGL | 10,000+ Questions | Economics Questions For SSC CGL: Day 137

Dear aspirants,

This is the new year with new goals, new experiences and lots of exams to be scheduled soon. SSC CGL has recently released the exam dates so now it is time to gear up your preparations and try hard to get success. ADDA247 never fails to deliver something new and fruitful for you all. This time also we are providing you the best study plan as well as a study material. We are here going to prepare your General Awareness section for the SSC CGL. In this article, we are providing you the details that how we are going to help you to clear the examination this year. We ADDA247 is going to provide you daily tests for all the subjects. The topic-wise quiz will be done from January till May. This will help you to get a deeper knowledge of all the topics and will prepare you thoroughly.

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Q1. Under which market condition do firms have excess capacity?
(a) perfect competition.
(b) monopolistic competition.
(c) Duopoly.
(d) oligopoly.

Q2. When there is only one buyer and one seller of product, it is called_____ situation?
(a) public monopoly.
(b) Bilateral monopoly.
(c) Franchised monopoly.
(d) monopsony.

Q3. Externality theory is the basic theory of the following branch of economics?
(a) Environomics .
(b) Fiscal Economics.
(c) unrestricted exchange.
(d) Trade free of duty.

Q4. The word Oikonomia means?
(a) Household management.
(b) Individual management.
(C) Political management.
(d) Fiscal management.

Q5. The goods which people consume more , when their price rises are called?
(a) essential goods.
(b) capital goods.
(C) veblen goods .
(d) giffen goods.

Q6. Who benefits the most during the inflationary period?
(a) corporate servants.
(b) creditors.
(c) entrepreneurs.
(d) government servants.

Q7. What is moderate degree of controlled inflation called as?
(a) Reflation.
(b) stagflation.
(c) Hyper inflation.
(d) Disinflation.

Q8. The basis of determining dearness allowance to employees in india is?
(a) national income.
(b) consumer price index,
(c) standard of living.
(d) Inflation rate.

Q9. The world wide great depression took place in?
(a) 1936.
(b) 1929.
(c) 1928.
(d) 1930.

Q10. IN which city is India’s first Post office ATM opened?
(a) Chennai.
(b) New Delhi.
(C) Hyderabad.
(d) Mumbai.

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Solutions
S1. (b)
Sol-
• Under monopolistic competition firm produces in excess capacity due to differentiated features of product.
S2. (b)
• Bilateral monopoly:—- one seller and one buyer.
S3. (a)
• Externality theory forms the basis for the theory of environmental economics.
• Externality is realisation of benefit or loss resulting from activity which affects on otherwise involved party.
S4. (a)
• Oikonomia means household management.
S5. (d)
• Giffen goods are those goods whose demand increases with Increase in their price.
S6.(c)
• Inflation affects the nature of wealth distribution.
• Entrepreneurs gain more than fixed cost in production during inflation due to increase in price.
S7. (a)
• Reflation is a government policy to reduce burden of deflation.
• It includes reducing taxes, increasing money supply, lowering interest rates etc.
S8. (d)
• Dearness allowance is certain percentage of salary to mitigate the impact of inflation calculated as a percentage of salary.
S9. (b)
• Great depression was depression in economic activities all around the world.
• It is originated in United States with severe fall in price of stock later it spread all over the world.
• It occurred in 1929.
S10. (a)
• India’s first post office ATM was opened in Chennai in the year 2014.

 

In the last month i.e. in May daily we will provide you with a test of the previous years’ question papers, this will increase your confidence of solving the real exam and will make you familiar with the real-time exam.

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