General Knowledge Question Answer: Business And Economics GK Questions and Answers

General Knowledge Business And Economics Questions, Business And Economics Quiz for Competitive Exams, Important Business And Economics MCQs for GK

Q. Which of the following statements is correct about circular economy?
1) Reusing waste back into the production cycle to produce new products
2) Circulation of national income through all segments of the economy
3) Working of economy under zero base budgeting
4) Giving high priority to informal sector

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Q. Interest rate on Public Provident Fund is determined by the -
1) Ministry of Finance
2) Reserve Bank of India
3) Employees Provident Fund Organisation
4) Respective Commercial Banks

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Q. The term bootstrapping is often associated with -
1) Start-ups
2) Mutual Funds
3) Venture Capital Funds
4) Advertising Agencies

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Q. The Employees State Insurance Act is applicable to all those factories which employ -
1) 5 or more employees
2) 10 or more employees
3) 15 or more employees
4) 20 or more employees

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Q. Which of the following statements is correct about Micro, Small and Medium Enterprises sector of Indian economy?
1) There are an estimated 2.6 crore MSMEs in the country as on March 2019
2) MSME sector provides employment to six crore persons
3) MSMEs sector contributes 45 per cent to the manufacturing sector's output and 40 per cent to the nation's exports
4) All of the above

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Q. Sub-prime crisis is a term associated with which one of the following events?
1) Economic recession
2) Political instability
3) Structural adjustment programmes
4) Growing social inequality

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Q. Which one of the following canons of taxation was not advocated by Adam Smith?
1) Canon of equality
2) Canon of certainty
3) Canon of convenience
4) Canon of fiscal adequacy

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Q. Consider the following statements about a joint-stock company -
1. It has a legal existence.
2. There is limited liability of share holders.
3. It has a democratic management.
4. It has a collective ownership.
Which of the statements given above are correct?

1) 1 and 2 only
2) 1, 2 and 3 only
3) 3 and 4 only
4) 1, 2, 3 and 4

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Q. The monetary policy in India uses which of the following tools ?
1. Bank rate
2. Open market operations
3. Public debt
4. Public revenue
Select the correct answer using the code given below -

1) 1 and 2 only
2) 2 and 3 only
3) 1 and 4 only
4) 1, 2, 3 and 4

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Q. Devaluation of currency will be more beneficial if prices of -
1) domestic goods remain constant
2) exports become cheaper to importers
3) imports remain constant
4) exports rise proportionately

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