Welcome to Online General Knowledgesection in Affairs cloud, which is important for all the competitive exams. We have created Some questions related to Indian GK(Indian Economy) !!!
- Who developed the innovation theory of Profit ?
5.None of theseAnswer – 1.Schumpeter
The innovation theory of a trade cycle is propounded by J.A. Schumpeter. He regards innovations as the originating cause of trade cycles. The term “innovation” should not be confused with inventions
- ………………. is an active factor of production
5.None of theseAnswer – 2.Labour
Some of the important factors of production are: (i) Land (ii) Labour (iii) Capital (iv) Enterprnuer. Land is a passive factor whereas labour is an active factor of production
- When total utility becomes maximum, then marginal utility will be
3.Either maximum or minimum
5.None of theseAnswer – 4.Zero
When total utility is maximum at the 5th unit, marginal utility is zero
- Revealed Preference Theory was propounded by ………………..
5.None of theseAnswer – 3.Samuelson
Revealed preference theory, pioneered by American economist Paul Samuelson, is a method of analyzing choices made by individuals
- ‘Supply creates its own demand’ said by ………….
5.None of theseAnswer – 2.J.B.Say
French Economist, J.B. Say, enunciated the proposition that “supply creates its own demand
- Open Market Operation is used in which sector of economy ?
5.None of theseAnswer – 3.Banking
Open market operations (OMO) refers to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system, facilitated by the Federal Reserve (Fed).
- Which of the following is the first Public Sector Corporation of Independent India ?
1.Dedicated Freight Corridor Corporation of India
4.Damodar Valley Corporation
5.None of theseAnswer – 4.Damodar Valley Corporation
The Damodar Valley Corporation is Public company which operates several power stations in the Damodar River area of West Bengal and Jharkhand states of India.
- Indian Institute of Foreign Trade is located in ………………….
5.None of theseAnswer – 2.New Delhi
The Indian Institute of Foreign Trade has extended beyond Delhi and has chosen West Bengal as the region to establish its first ever campus outside Delhi.
- The Board of Industrial and Financial Reconstruction(BIFR) came into existence in which year ?
5.None of theseAnswer – 1.1987
The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The board was set up in January 1987 and became functional as of 15 May 1987
- Which Committee was set up to suggest change in Companies Act ?
1.Naresh Chandra Committee
3.JJ Irani Committee
4.Deepak Parikh Committee
5.None of theseAnswer – 3.JJ Irani Committee
Committee under the Chairmanship of Dr. J.J. Irani formed to suggest a body set up under a under a 2002 amendment to the Companies Act currently faces.