Economics
Question : Statement 1: Positive economics aims to determine how changes in the price of a good affect its quantity demanded.
Statement 2: Normative economics focuses on analyzing the impact of government policies on consumer behavior.
Option 1: Statement 1 is true, and statement 2 is false.
Option 2: Statement 1 is false, and statement 2 is true.
Option 3: Both statements 1 and 2 are true.
Option 4: Both statements 1 and 2 are false.
Correct Answer: Statement 1 is true, and statement 2 is false.
Solution : The correct answer is (a) Statement 1 is true, and statement 2 is false.
Statement 1 is true: Positive economics aims to determine how changes in the price of a good affect its quantity demanded. It focuses
Question : The following bar diagram shows the number of students who opted for different subjects in the year 2020 and 2021. Find the ratio of students opting for Economics to students opting for Physical Education in 2020.
Option 1: 3 : 7
Option 2: 3 : 5
Option 3: 5 : 9
Option 4: 5 : 7
Correct Answer: 3 : 5
Solution : Students opting for Economics in 2020 = 75 Students opting for Physical Education in 2020 = 125 Required ratio = 75 : 125 = 3 : 5 Hence, the correct answer is 3 : 5.
Question : Which objective of government budget is highlighted here? Government imposes heavy taxation to discourage the consumption of harmful consumption goods like liquor, cigarettes, etc.
Option 1: Reallocation of resources
Option 2: Reducing income inequalities
Option 3: Economic stability
Option 4: Economics growth
Correct Answer: Reallocation of resources
Solution : Under allocation of resources Government imposes heavy taxation to discourage the consumption of harmful consumption goods like liquor, cigarettes, etc. It is a part of tax concessions or subsidies under allocation of resources. Hence Option A is correct.
Hello,
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
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