Economics
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
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.
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.
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
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
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;
Question : Direction: Study the bar diagram and answer the following question. The bar diagram shows the number of bicycles parked in the parking space of a hall at various points in time. The charge for parking is INR 1 per hour. What will be the total collection from 9 am to 7 pm?
Option 1: INR 625
Option 2: INR 635
Option 3: INR 685
Option 4: INR 695
Correct Answer: INR 695
Solution : Given: The parking costs equal INR 1 each hour. The number of cycles parked between 9 am and 7 pm = 95 + 75 + 85 + 65 + 75 + 55 + 65 + 45 + 55 + 35 + 45 = 695
Question : Choose the correctly spelt word?
Option 1: Emmbroidery
Option 2: Embrodery
Option 3: Embroidary
Option 4: Embroidery
Correct Answer: Embroidery
Solution : Option 4 is the correct answer.
.Embroidery is the needlework on cloth to decorate with designs.
For Example.
Reena is very good at embroidery,
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 3.
Option 1: chaos
Option 2: advances
Option 3: issues
Option 4: a decline
Correct Answer: advances
Solution : The correct choice is the second option.
The sentence talks about the changes that occurred during the 19th century in transportation and communication that eased trade across borders. The term, advances fits contextually as it refers to improvements or developments in transportation and communication technologies.
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.
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.
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