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Economics Previous Questions from PSC, UPSC and SSC

Real cost of production is the
Asked : TNPSC Assistant director of handloom and textiles 2017
ASacrifices of owner

BHappiness
CDepreciation
DRaw material cost

The price for the services of an entrepreneur in a firm is
Asked : TNPSC Assistant director of handloom and textiles 2017
ARent
BWage
CInterest
DProfit

Break Even Point arrives where
Asked : TNPSC Assistant director of handloom and textiles 2017
ATR = TC and total profit is zero

BMR = MC
CAR = AC
DTFC = TVC

Under the preview of ESI Act, 1948, ESI Corporation was set up during the year
Asked : TNPSC Assistant director of handloom and textiles 2017
A24th Dec 1949
B24th Feb 1956
C24th Feb 1951
D24th Feb 1952

Which of the following is not part of the taxes levied and collected by the Union but assigned to the states
Asked : TNPSC Assistant director of handloom and textiles 2017
AEstate duty in respect of property other than Agricultural Land
BTaxes on Railway fares and freights
CStamp duties

DTaxes on transaction in Stock Exchange

Each seller determines his price on the assumption that his rival will keep his price constant under ................
Asked : TNPSC Assistant director of handloom and textiles 2017
ABertrand's model

BCournots duopoly model
CEdgeworth model
DPrice leadership

Perfect competition is said to prevail when there is a large number of producers producing .............. product.
Asked : TNPSC Assistant director of handloom and textiles 2017
ATechnology
BSubstitute
CHomogenous

DHetrogenous

The formula for measurement of monopoly power is
Asked : TNPSC Assistant director of handloom and textiles 2017
AP-AC/P
BP-MC/P

CP-AR/P
DP-TC/P

The curve shows the combinations of two factors, a firm can buy
Asked : TNPSC Assistant director of handloom and textiles 2017
ADemand curve
BSupply curve
CIsoquant curve
DIsocost curve

Who said Law of Diminishing returns applicable especially to agriculture
Asked : TNPSC Assistant director of handloom and textiles 2017
AAlfred Marshall

BGeorge Stigler
CDr. S. Sankaran
DSamuelson

The shape of Iso-quant curves are ................... to the origin,
Asked : TNPSC Assistant director of handloom and textiles 2017
Aconcave
Btangent
Cconvex

Dbegins from origin

TPP refers to
Asked : TNPSC Assistant director of handloom and textiles 2017
ATotal Price Penetration
BTotal Physical Product

CTotal Profit Product
DTotal Physical Profit

The Constant Elasticity of Substitution (CES) is expressed in the form of
Asked : TNPSC Assistant director of handloom and textiles 2017
Aσ = 1/1+θ
BQ = A [2C^-θ+(1-2)L^-θ]^-1/8

CQ=AL²K^1-2
DQ=nQ

Identify the human factor which influence the economic growth from the list, and choose the correct answer from the correct answer from the codes given below.
1. Research on population control
2. Political stability.
3. Labour productivity.
4. Social attitudes.
Asked : TNPSC Assistant director of handloom and textiles 2017
A1 and 2
B3 and 4
C2 and 4
D1 and 3

The investment strategy for Indian Economic Development formulated by Prof. Mahalanobis was
Asked : TNPSC Assistant director of handloom and textiles 2017
ASupporting Small-Scale industries
BSupporting Heavy Industries

CSupporting Medium-Scale Industries
DSupporting Agro-Based Industries

The Ryotwari Tenure settlement was first made in the year ............... in ................
Asked : TNPSC Assistant director of handloom and textiles 2017
A1967 - Madurai
B1970 - Delhi
C1972 - Madras

D1975 - Mumbai

In which Five Year Plan, the agriculture and irrigation were given top priority
Asked : TNPSC Assistant director of handloom and textiles 2017
ASecond Five Year Plan
BFirst Five Year Plan

CThird Five Year Plan
DFourth Five Year Plan

The total outlay of First Five Year Plan was
Asked : TNPSC Assistant director of handloom and textiles 2017
A1590 crores
B1690 crores
C1960 crores

D1760 crores

Agricultural production during 11th Five Year Plan is given below. Match the crops with its production (Average Production in Million Units) :

Crop Production

a) Rice 1. 325.8

b) Wheat 2. 15.9

c) Pulses 3. 84.4

d) Sugarcane 4. 97.3
Asked : TNPSC Assistant director of handloom and textiles 2017
AA-2, B-3, C-1, D-4
BA-4, B-3, C-2, D-1

CA-1, B-2, C-4, D-3
DA-3, B-4, C-2, D-1

Match the following A with B and select the correct response :

A B

a) National Arbitration Promotion Board 1. 1926

b) Trade Union Act 2. 1969

c) National Commission of Labour 3. 1958

d) The code of Discipline 4. 1967
Asked : TNPSC Assistant director of handloom and textiles 2017
AA-4, B-1, C-3, D-2
BA-4, B-1, C-2, D-3

CA-1, B-3, C-4, D-2
DA-1, B-4, C-2, D-3

Identify the benefits which is not part of Maternity Benefits Act 1961 and its amendments
Asked : TNPSC Assistant director of handloom and textiles 2017
ASix weeks leave with wages in case of Medical Termination of Pregnancy (MTP)
BGrant of leave with wages for a maximum period of one month in case of illness arising out of MTP or tubectomy.
C8 months of leave after delivery with full pay

DTwo weeks leave with wages to women workers who under go tubectomy operation

Match the following A with B and select the correct response.

A B

a) Employee's State Insurance Act 1. 1971

b) Maternity Benefit Act 2. 1972

c) Family Pension Scheme 3. 1948

d) Payment of Gratuity Act 4. 1961

a
Asked : TNPSC Assistant director of handloom and textiles 2017
AA-3, B-4, C-1, D-2

BA-3, B-1, C-2, D-4
CA-3, B-2, C-1, D-4
DA-3, B-4, C-2, D-1

Which of the following is not the objective of fiscal policy
Asked : TNPSC Assistant director of handloom and textiles 2017
AFull employment
BEconomic growth
CEconomic stabilisation
DPoverty

Match List I and List II and select the correct answer :

List I	List II
a) Expenditure on defence service	1. Non-development expenditure
b) Running of Government Department	2. Development expenditure
c) Expenditure on public health	3. Revenue expenditure
d) Expenditure on external affairs	4. Capital expenditure

Asked : TNPSC Assistant director of handloom and textiles 2017
AA-4, B-3, C-2, D-1

Which one of the following is not under the functions of State Government
Asked : TNPSC Assistant director of handloom and textiles 2017
APublic health
BForests
CPolice
DDefence

The classical theory of public debt assumed
Asked : TNPSC Assistant director of handloom and textiles 2017
AFull employment and unproductiveness of public expenditure

BFull employment and productiveness of public expenditure
CUnemployment and productiveness of public expenditure
DUnemployment and unproductiveness of public expenditure

A tax imposed in one person and the real burden is also borne by him is
Asked : TNPSC Assistant director of handloom and textiles 2017
AProgressive tax
BDirect tax

CIndirect tax
DValue added tax

Which one of the following is not a method of debt redemption
Asked : TNPSC Assistant director of handloom and textiles 2017
ARepudiation
BRefunding
CConversion
DCredit creation

Which authority is responsible for framing the budget of the Union Government
Asked : TNPSC Assistant director of handloom and textiles 2017
AReserve Bank of India
BPlanning Commission
CFinance Ministry

DFinance Commission

The expenditures incurred out of the proceeds of taxes and other revenue receipts
Asked : TNPSC Assistant director of handloom and textiles 2017
AExpenditure on capital account
BExpenditure on revenue account

CExpenditure on central plans
DCentral assistance for the plans of the state and union territories

Economics Previous Question Answers PSC, UPSC, SSC, IBPS

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