Economics
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If you are planning to pursue BSc in Economics from college other than DU, then you won't face any issue as other colleges don't have the eligibility criteria to have maths as a subject in class 12th but if you are planning to pursue from Delhi University or colleges
Question : Comprehension:
In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.
Globalisation is not a new (1)_______. Traders travelled vast distances in ancient times to buy commodities that were (2) ______and expensive for sale in their homelands. The Industrial Revolution brought (3)_________ in transportation and communication in the 19th century that eased trade across borders. The think tank, Peterson Institute for International Economics (PIIE), states globalisation (4)________after World War I and nations moved toward (5)________ as they launched import taxes to more closely guard their industries in the aftermath of the conflict.
Select the most appropriate option to fill in the blank number 5.
Option 1: protectionism
Option 2: integration
Option 3: liberalisation
Option 4: diversification
Correct Answer: protectionism
Solution : The correct choice is the first option.
The sentence talks about nations moving towards something after World War I as they launched import taxes to more closely guard their industries. The term that best fits the context is protectionism. It refers to the policy or
Question : What is the distance between the goal line and the penalty spot in football?
Option 1: 11 yards
Option 2: 12 yards
Option 3: 10 yards
Option 4: 9 yards
Correct Answer: 12 yards
Solution : The correct answer is 12 yards.
The distance between the goal line and the penalty spot in football is 12 yards. Football is a team sport in which two teams of eleven players each compete.
Question : Which law of economics states, "Bad money drives out good money"?
Option 1: Baxter's Law
Option 2: Ohm's Law
Option 3: Gresham's Law
Option 4: Gauss's Law
Correct Answer: Gresham's Law
Solution : The correct option is Gresham's Law.
Gresham's law is an economic principle that states that bad money drives out good money. It is a monetary principle that can be applied to the currency markets. Good money means any currency or coin whose legal
Question : Bearing in mind the assertion that economics is a "positive" and not a "normative" science, with which of the following problems would an economist be concerned? I. The unfairness of the distribution of wealth II. The effect on prices due to speculation in raw materials III. The results of union pressure for increased wages IV. The rights and wrongs of exaggerated advertising claims
Option 1: I only
Option 2: II, III
Option 3: I, III
Option 4: I, II, III, IV
Correct Answer: II, III
Solution : The correct answer is (b) II, III
An economist, as a practitioner of positive economics, would primarily focus on objective analysis and explaining economic phenomena as they are, rather than making subjective value judgments. Based on this understanding, an economist would typically be concerned
Question : In terms of economics, if it is possible to make someone better off without making someone worse off, then the situation is
Option 1: inefficient
Option 2: efficient
Option 3: optimal
Option 4: pareto-superior
Correct Answer: pareto-superior
Solution : The correct answer is Pareto-superior.
In economics, if it is achievable to make one person better off without making another person worse off, the scenario is referred to as a Pareto improvement or efficiency. A Pareto improvement happens when the well-being or utility of
Question : Direction: Select the segment of the sentence that contains the grammatical error. If there is no error, mark 'No error' as your answer.
The commander-in-chiefs of (A) / all the three forces are (B) / coming for the ceremony. (C)/ No error (D)
Option 1: A
Option 2: B
Option 3: C
Option 4: D
Correct Answer: A
Solution : The correct answer is option 1
Explanation:
Question : Positive economics involves:
Option 1: Assessing the impact of economic policies on societal well-being
Option 2: Conducting experiments to test economic theories
Option 3: Evaluating the ethical implications of economic decisions
Option 4: Analyzing economic data to understand cause and effect relationships
Correct Answer: Analyzing economic data to understand cause and effect relationships
Solution : The correct answer is (d) Analyzing economic data to understand cause and effect relationships.
Positive economics involves analyzing economic data to understand cause and effect relationships. It focuses on providing objective analysis and understanding of how the
Globalisation is not a new (1)_______. Traders travelled vast distances in ancient times to buy commodities that were (2) ______and expensive for sale in their homelands. The Industrial Revolution brought (3)_________ in transportation and communication in the 19th century that eased trade across borders. The think tank, Peterson Institute for International Economics (PIIE), states globalisation (4)________after World War I and nations moved toward (5)________ as they launched import taxes to more closely guard their industries in the aftermath of the conflict. Select the most appropriate option to fill in the blank number 1.
Option 1: power
Option 2: variation
Option 3: design
Option 4: concept
Correct Answer: concept
Solution : The correct choice is the fourth option.
In this context, the sentence discusses the historical aspects of globalisation, suggesting that it's not a new idea or concept. The word, concept refers to an abstract idea or a general notion that has existed over time.
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