tnpsc economy Interview Questions and Answers
Ques:- In the short period, _____ plays an important role in the market.
A. Price
B. Saving
C. Supply
D. Demand
Ques:- Consumer surplus is _____
A. Potential price+ Actual price
B. Demand= Supply
C. Potential price- Actual price
D. None
Ques:- Demand for a commodity depends on _____
A. Income
B. Price of related goods
C. Price of that commodity
D. All the above
Ques:- The segment of a demand curve between two points is called _____ elasticity of demand.
A. Relatively elastic
B. Unitary elastic
C. Perfectly elastic
D. Perfectly inelastic
Ques:- The basic force that drives the capitalist economy is _____
A. Profit-motive
B. Government
C. Technology
D. Planning
Ques:- Increase in demand is shown by _____
A. Lowest point on the demand curve
B. The highest point on the demand curve
C. Shifts of the demand curve
D. Movement along the same demand curve
Ques:- _____ method is used to measure price elasticity of demand at a point on the demand curve.
A. Percentage
B. Point
C. Total outlay
D. Arc
Ques:- Single commodity consumption mode is _____
A. Law of diminishing marginal utility
B. Law of supply
C. Law of equi marginal utility
D. Production possibility curve
Ques:- In _____ period, demand increases supply making price also increase.
A. Long period
B. Short period
C. Market period
D. Very long period
Ques:- Difficulty in management, size of the firm increased is the example for _____ of scale.
A. Internal economies
B. External economies
C. External diseconomies
D. Internal diseconomies
Ques:- _____ is means and consumption is the end.
A. Distribution
B. Public finance
C. Exchange
D. Production
Ques:- _____ means combination of two factors of production, which will be given equal of output.
A. Law of variable proportions
B. Returns to scale
C. Iso-cost
D. Iso-product
Ques:- The author of wealth definition is
A. Adam Smith
B. Samuelson
C. Lionel Robbins
D. Alfred Marshall
Ques:- According to _____, the level of wages in an industry depends on the bargaining strength of the trade union concerned.
A. The bargaining theory of wages
B. Residual claimant theory of wages
C. Recent theories of wages
D. The market theory of wages
Ques:- Necessaries, comforts and luxuries are _____
A. Classification of utility
B. Classification of wants
C. Classification of goods and services
D. None of the above