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Economics

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Question : The central problem in economics is that of

Option 1: comparing the success of command versus market economies.

Option 2: guaranteeing that production occurs in the most efficient manner.

Option 3: guaranteeing a minimum level of income for every citizen.

Option 4: allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied in the best possible manner.

Team Careers360 18th Jan, 2024

Correct Answer: allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied in the best possible manner.


Solution : The correct answer is (d) allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied in the best possible manner.

The

6 Views

Question : Which of the following statements is an example of positive economics?

Option 1: The government should regulate the banking sector to prevent financial crises.

Option 2: Tax cuts for corporations will stimulate economic growth.

Option 3: Wealth redistribution is necessary for a just society.

Option 4: Economic efficiency should be prioritized over equity.

Team Careers360 19th Jan, 2024

Correct Answer: Tax cuts for corporations will stimulate economic growth.


Solution : The correct answer is (b) Tax cuts for corporations will stimulate economic growth.

Tax cuts for corporations will stimulate economic growth is an example of positive economics because it presents a cause-and-effect relationship based on empirical evidence and

3 Views

Question : The analysis of the interrelationship between the economy and the environment in the economic environmental accounting system was forwarded by_____.

Option 1: Central Statistical Office

Option 2: National Environmental Engineering Institute

Option 3: Directorate of Economics and Statistics

Option 4: United Nations Statistical Office

Team Careers360 21st Jan, 2024

Correct Answer: United Nations Statistical Office


Solution : The correct answer is the United Nations Statistical Office.

Formerly known as the United Nations Statistical Office, the United Nations Statistics Division (UNSD), under the Department of Economic and Social Affairs (DESA) of the UN Secretariat, is responsible for providing the

16 Views

Question : Of the three fundamental questions in economics, the "distribution" question has to do
with

Option 1: Who will receive the output

Option 2: How the output will be shipped from the place of production to the consumer

Option 3: How economic resources are distributed to producers

Option 4: What products will be produced

Team Careers360 18th Jan, 2024

Correct Answer: Who will receive the output


Solution : The correct answer is (a) Who will receive the output.

The distribution question in economics pertains to how the produced goods and services are allocated among individuals or groups in society. It involves determining who will receive the output of the

10 Views

Question : Which objective of government budget is highlighted here?
High amount of taxation is imposed on rich class and more welfare is given to poor.
 

Option 1: Reallocation of resources
 

Option 2: Reducing income inequalities
 

Option 3: Economic stability
 

Option 4: Economics growth
 

Team Careers360 22nd Jan, 2024

Correct Answer: Reducing income inequalities
 


Solution : Under reducing inequalities of income and wealth, Government high amount of taxation is imposed on rich class and more welfare is given to poor.
Hence Option B is correct.

27 Views

Question : Which of the following is an example of positive economics?

Option 1: Increasing the minimum wage will reduce poverty rates.

Option 2: The government should prioritize environmental sustainability over economic growth.

Option 3: Free trade improves overall economic welfare.

Option 4: The distribution of wealth in society is unjust.

Team Careers360 24th Jan, 2024

Correct Answer: Increasing the minimum wage will reduce poverty rates.


Solution : The correct answer is (a) Increasing the minimum wage will reduce poverty rates

Positive economics involves analyzing economic data and facts to provide objective analysis and understanding of how the economy functions. The statement about increasing the minimum

12 Views

Question : Directions: In the following question, from the given alternative words, select the word that cannot be formed using the letters of the given word.
POLYTHEISM

Option 1: HOTELS

Option 2: SMITH

Option 3: PISTOL

Option 4: THESIS

Team Careers360 18th Jan, 2024

Correct Answer: THESIS


Solution : Given:
POLYTHEISM

Now, let's compare all the option words with the word POLYTHEISM –
First option: HOTELS; All the letters of HOTELS are present in the word POLYTHEISM.
Second option: SMITH; All the letters of SMITH are present in the word POLYTHEISM.
Third option: PISTOL;

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