Q1.Which of the following statements regarding utility is not true?
Answer : Option DExplaination / Solution:
Utility is a subjective concept and varies from person to person, at different times and at different places. There cannot be a standardised measure for utility. Therefore, the point that utility always measurable is not true.
Answer : Option CExplaination / Solution:
It is the highest banking authority in an economy. Therefore, it is also known as apex body in banking sector.
Q5.The stock of skill, ability, expertise, education and knowledge in a nation at a point of time known as
Answer : Option DExplaination / Solution:
This definition states what human capital means. Human capital refers to the skills, knowledge and experience of an individual or a population at large.
Q6.________ of the data refers to the arrangement of figures in such a form that comparison of the mass of similar data may be facilitated and further analysis may be possible
Answer : Option AExplaination / Solution:
The data information collected through different sources should be organized. The information arranged in an ascending order is known as the array of data. The set of information related to specific entity is called the field.
Q7.___________ is a situation of persistent and appreciable rise in prices, leading to fall in purchasing power of money
Answer : Option CExplaination / Solution:
Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling.
Q9.Which of the following economist estimated per capita income during colonial period
Answer : Option DExplaination / Solution:
India’s per capita income during colonial period was estimated by some individual. Among the notable estimators — Dadabhai Naoroji, William Digby, Findlay Shirras.
Q10.___________ means exhibition of data in such a clear and attractive manner that these are easily understood and analyzed
Answer : Option AExplaination / Solution:
Presentation of data involves presenting raw facts and figures in the form of tables, charts and diagrams which is easy to understand for the users of data.
Total Question/Mark :
Scored Mark :
Mark for Correct Answer : 1
Mark for Wrong Answer : -0.5
Mark for Left Answer : 0