1. Marx belonged to
(a) Germany
(b) Holland
(c) France
(d) Britain
The Correct option is – (a) Germany
2. Which one of the following is the guardian of Fundamental Rights?
(a) Legislature
(b) Executive
(c) Political parties
(d) Judiciary
The Correct option is – (d) Judiciary
3. Sarkaria Commission was concerned with
(a) Administrative Reforms
(b) Electoral Reforms
(c) Financial Reforms
(d) Centre-State relations
The Correct option is – (d) Centre- State relations
4. The Speaker of the Lok-Sabha has to address his/her letter of resignation to
(a) Prime Minister of India
(b) President of India
(c) Deputy Speaker of Lok Sabha
(d) Minister of Parliamentary Affairs
The Correct option is – (c) Deputy Speaker of Lok Sabha.
5. A want becomes a demand only when it is backed by the
(a) Ability to purchase
(b) Necessity to buy
(c) Desire to buy
(d) Utility of the product
The Correct option is – (d) Utility of the product.
6. The terms “Micro Economics” and “Macro Economics” were coined by
(a) Alfred Marshall
(b) Ragner Nurkse
(c) Ragner Frisch
(d) J.M. Keynes
The Correct option is – (d) J.M keynes
7. During periods of inflation, tax rates should
(a) increase
(b) decrease
(c) remain constant
(d) fluctuate
The Correct option is – (a) increase
8. Which is the biggest tax paying sector in India?
(a) Agriculture sector
(b) Industrial sector
(c) Transport sector
(d) Banking sector
The Correct option is -(b) industrial sector
9. “Economics is what it ought to be” – This statement refers to
(a) Normative economics
(b) positive economics
(c) Monetary economics
(d) Fiscal economics
The Correct option is – (a) Normative economics
10. The excess of price a person is to pay rather than forego the consumption of the commodity is called
(a) Price
(b) Profit
(c) Producers’ surplus
(d) Consumer’s surplus
The Correct option is – (c) producer’s Surplus
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