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Static GK Quiz for SSC and SBI - Part 31

1. Who is called the 'Father of Economics'?
a. Max Muller
b. Karl Marx
c. Adam Smith
d. None of these

2. Who has given scarcity definition of economics?
a. Adam Smith
b. Marshall
c. Robbins
d. Robertson

3. Marginal utility is equal to average utility at that time when average utility is
a. Increasing
b. Maximum
c. Falling
d. Minimum

4. At point of satiety, marginal utility is:
a. Zero
b. Positive
c. Maximum
d. Negative

5. Which of hte following is the second law of Grossen?
a. Law of equi-marginal utility
b. Law of equi-product
c. Theory of indifference curve
d. Law of diminishing marginal utility

6. Total utility of a commodity is measured by which price of that commodity?
a. Value in use
b. Value in exchange
c. Both of above
d. None of above

7. The concept of Five year Plans in India was introduced by
a. Lord Mountbatten
b. Jawaharlal Nehru
c. Indira Gandhi
d. Lal Bahadur Shastri

8. India has:
a. Socialistic economy
b. Gandhian economy
c. Mixed economy
d. Free economy

9. The contribution of agriculture to India's' economy is:
a. increasing
b. decreasing
c. constant
d. None of these

10. National Development Council was set up in:
a. 1948
b. 1950
c. 1951
d. 1952

11. For internal financing to Five Year Plans, the government depends on:
a. taxation only
b. taxation and public borrowing
c. public borrowing and deficit financing
d. taxation, public borrowing and deficit financing

12. A tax burden of which increases as income increases is called:
a. Regressive Tax
b. Income Tax
c. Higher Tax
d. Progressive Tax

13. More than 65% of working population of India is engaged in:
a. public sector
b. primary sector
c. secondary sector
d. tertiary sector

14. Economic survey is published by :(IAS 1998)
a. Ministry of Finance
b. Planning Commission
c. Govt of India
d. Indian Statistical Institute

15. Who is the Deputy Chairman of Planning Commission?
a. Prime Minister
b. Finance Minister
c. Commerce Minister
d. None of the above  
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