The document contains multiple choice questions about economics topics such as factors of production, theories of supply and demand, the establishment of the WTO, approaches to measuring utility, types of markets, laws of production functions, the launch date of an Indian financial daily, terms related to prices, effects of inflation, balance of payments, and the definition of credit.

1. Economics

2. Which of the following is not the
factor of Production???
• Land
• Labour
• Raw Material
• Capital

3. Raw Material

4. Who said Supply Creates its own
Demand???
• J.M. Kenys
• Ricardo
• J.B. Say
• Adam Smith

5. J.B.SAY

6. IN WHICH YEAR THE WTO WAS
CREATED???
• 1943
• 1945
• 1995
• 1947

7. 1995,
Before WTO, GATT (General
Agreement on Tariffs and Trade)
was the official agreement of free
trade between countries but it's not
an organisation.

8. Two types of approaches are
widely used when it comes to the
problem of measurement of ‘utility’.
What are those two approaches
known as?

9. CARDINAL & ORDINAL

10. In which type of Market, there is no
difference between Firm and
Industry???

11. MONOPOLY

12. Name the both laws of Production
Functions?

13. Law of Variable Proportion &
Returns to Scale

14. In which year India’s first financial
daily The Economic Times was
launched???
1982
1921
1961
1971

15. 1961

16. The term Inflation is used when
the prices are increasing, what is
the term which is used when the
prices are decreasing???

17. Deflation

18. What is the effect of inflation
on the value of money???

19. Inflation will decrease the
value of money.

20. The difference between
Export and Import is known
as???

21. BoP

22. Increase in the overall level
of prices over an extended
period of time is known
as???

23. Inflation

24. The giving of goods and
services in return for the
promise of payment at a
future time. The payment
usually has interest
attached, this is known
as….

25. Credit