#1
What is the basic economic problem?
Scarcity
Abundance
Inflation
Unemployment
#2
In commerce, what does the term 'ROI' stand for?
Return on Investment
Risk of Inflation
Rate of Interest
Revenue from Operations
#3
What is the law of diminishing marginal utility in economics?
The more you consume, the greater the satisfaction
The less you consume, the greater the satisfaction
The satisfaction remains constant with increased consumption
The satisfaction decreases with each additional unit consumed
#4
What is the primary goal of monetary policy?
Stabilizing employment
Controlling inflation
Promoting economic growth
Equal distribution of wealth
#5
What is the role of the World Trade Organization (WTO) in international trade?
Setting interest rates
Promoting fair and open trade practices
Issuing global currency
Regulating national budgets
#6
Which of the following is a microeconomic concept?
Gross Domestic Product (GDP)
Price Elasticity of Demand
National Income
Inflation Rate
#7
What is the formula for calculating Gross Domestic Product (GDP)?
Consumption + Investment + Government Spending + (Exports - Imports)
Consumption + Investment + Government Spending
Consumption + Savings + Taxes
Consumption + Investment - Government Spending
#8
Which of the following is a function of central banks in the financial system?
Providing consumer loans
Regulating commercial banks
Issuing stocks and bonds
Managing retail transactions
#9
What is the purpose of a SWOT analysis in business?
Forecasting stock prices
Assessing internal strengths and weaknesses
Calculating inflation rates
Measuring GDP growth
#10
What is the primary function of the Securities and Exchange Board of India (SEBI)?
Regulating the stock market
Managing foreign exchange rates
Issuing currency notes
Controlling inflation
#11
In accounting, what does the term 'depreciation' refer to?
Increase in the value of assets
Allocation of the cost of an asset over its useful life
Decrease in the value of liabilities
Recording revenue in advance
#12
Which economic system relies on the forces of supply and demand to determine prices and allocate resources?
Command Economy
Mixed Economy
Market Economy
Traditional Economy
#13
What is the Phillips Curve in economics used to analyze?
Unemployment and Inflation
Price and Quantity
Consumer Surplus
Elasticity of Demand
#14
What is the concept of 'opportunity cost' in economics?
The cost of an opportunity
The value of the best alternative forgone
The total cost of production
The cost of raw materials
#15
In international trade, what does the term 'balance of payments' refer to?
The trade balance between two countries
The overall financial position of a country with the rest of the world
The exchange rate between two currencies
The balance between imports and exports
#16
What is the concept of 'elasticity' in economics?
The responsiveness of quantity demanded to a change in price
The total revenue of a firm
The equilibrium point in a market
The government's fiscal policy
#17
In commerce, what is the role of a 'merchandiser'?
Providing financial advice
Buying and selling goods for profit
Managing human resources
Auditing financial statements