RRB Group D Exam | Collection of 25 important questions related to economics, read

Economics Related Questions for RRB Group D Exam : Indian Railway Recruitment Board (RRB) has started the recruitment process for Group D posts. There is a provision to complete this examination in several phases, and the first phase examination will be conducted from 17 August to 25 August and the second phase examination will run from 26 August to 8 September. will be held till It is worth mentioning that now the candidate will have to give only one examination and on the basis of that the candidates will be selected and the vacant posts will be filled.

In such a situation, 25 important questions and answers of economics related to Group D exam have been included in front of you through this article. Practice these questions before going to the exam and strengthen your preparation.

Economics Related Questions for RRB Group D Exam
Economics Related Questions for RRB Group D Exam

Economics Related Questions for RRB Group D Exam

Question. Monopolistic competition is an essential condition.

  • many buyers but one seller
  • price differential
  • product differentiation
  • homogeneous product

Answer: 3

Question. The production function expresses:

  • Technological relationship between material investment and production
  • Financial relationship between physical investment and production
  • relationship between finance and technology
  • relationship between factors of production

Answer 1

Question. The law of demand expresses

  • effect of a change in the price of a commodity on its demand
  • Effect of change in demand of a commodity on its price
  • Effect of a change in the demand for a commodity on the supply of its substitute
  • none of the above

Answer 1

Question. One of the essential conditions of perfect competition is

  • differentiation in products
  • Variety of prices for similar products at any one time
  • More sellers but fewer buyers
  • the same price for similar goods at any one time

Answer: 4

Question. At the equilibrium-level point, which of the following happens?

  • Loss
  • no loss no gain
  • revenue
  • the gain

Answer: 2

Question. If the change in demand causes the demand curve to shift to the first price on the right, the quantity demanded

  • will decrease
  • will remain the same
  • will increase
  • will be compressed

Answer: 3

Question. The demand curve shows how the price and quantity demanded

  • only direct relationship
  • There is a directly proportional relationship and also directly related.
  • There is an inverse relation and also an inverse relation.
  • there is only inverse relation

Answer: 3

Question. When the substitute price of a commodity X falls, the demand for X

  • climbs up
  • descends
  • no change
  • any one of the above

Answer: 2

Question. Selling cost means:

  • selling cost of a product
  • cost of transportation
  • advertising cost
  • cost of production factors

Answer: 3

Question. The price under full cost pricing is determined by which of the following?

  • Adding falls to average cost
  • By comparing marginal cost and marginal revenue
  • Adding ordinary profit to marginal cost
  • by total cost of production

Answer 1

Question. The firm has to measure the amount of monopoly power

  • as the general benefit of
  • as the general advantage of
  • as both normal and supernormal benefits of
  • as the selling price of

Answer: 2

Question. Firms which make payments to outsiders for their goods and services are called

  • actual cost
  • economic cost
  • clear cost
  • underlying cost

Answer: 3

Question. in perfect competition

  • Marginal income is less than average income
  • average income is less than marginal income
  • Average income equals marginal income
  • average income is more than marginal income

Answer: 3

Question. Consumption function means

  • relationship between income and job
  • relationship between saving and investment
  • relationship between output and input
  • relationship between income and consumption

Answer: 4

Question. Marginal cost means.

  • cost of production a unit of production
  • cost of producing an additional unit of output
  • total cost of production
  • cost of producing a given level of output

Answer: 2

Question. Demand elasticity measures the responsiveness of the quantity demanded of a commodity to

  • change in price of a commodity
  • change in the price of the substituted item
  • change in the price of the complementary commodity
  • Change in the price of combined products

Answer 1

Question. Which of the following is not a fixed cost?

  • salary of administrative staff
  • factory building rent
  • property taxes
  • electric charge

Answer 1

Question. Which of the following is an inverted ‘U’ shaped curve?

  • average cost
  • Marginal cost
  • total cost
  • fixed cost

Answer 1

Question. Which of the following statement is correct?

  • The value of an item depends on its price.
  • The value of an item depends entirely on the substitute goods.
  • A thing will have value (importance) only when someone wants to take it.
  • A commodity will have value only when it is scarce than demand.

Answer: 4

Question. Which of the following factors does not shift the demand curve for a product to the right?

  • to advertise successfully
  • Fall in the price of its supplements
  • increase in the price of its substitutes
  • fall in the price of the product itself

Answer: 2

Question. When do markets fail?

  • When they equalize the surpluses of all consumers and producers
  • when they increase the surplus of all consumers and producers
  • When they are unable to maximize the surplus of all consumers and producers
  • When they maximize the surplus of all consumers and producers.

Answer: 3

Question. The cost of advertising is called

  • implicit cost
  • surplus cost
  • fixed cost
  • selling cost

Answer: 4

Question. Name the curve which shows the quantity of products that a seller wants to sell at a given price level.

  • demand curve
  • price curve
  • supply curve
  • none of these

Answer: 2

Question. On what does the supply of labor in the economy depend?

  • Population
  • National income
  • per capita income
  • natural resources

Answer 1

Question. Car and diesel are examples of what?

  • demand
  • supply
  • joint supply
  • joint demand

Answer: ?

What would be the correct answer to this question? Do give us your answer in the comment section.

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