RRB Group D Exam Practice Set 02

Economics Related Questions for RRB Group D Exam Practice Set 02 : 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 Practice Set 02
Economics Related Questions for RRB Group D Exam Practice Set 02

Economics Related Questions for RRB Group D Exam Practice Set 02

Question. What is the meaning of demand in economics?

  • aggregate demand
  • market demand
  • individual demand
  • purchasing power demand

Answer: 4

Question. Who was the proponent of dynamic theory of profit?

  • clark
  • Schumpeter
  • knight
  • Hali

Answer 1

Question. The camera is a …… object in the hands of a professional photographer.

  • free
  • intermediate
  • consumer
  • capital

Answer: 4

Question. In which case consumer surplus is maximum?

  • durable goods
  • luxury
  • rest
  • Requirements

Answer: 4

Question. Who is the price taker in perfect competition?

  • industry
  • government
  • Firm
  • buyer

Answer: 3

Question. What is microeconomics called?

  • income theory
  • investment theory
  • price theory
  • principle of expenditure

Answer: 3

Question. What is a market with a small number of large firms called?

  • bi-right
  • Competition
  • oligopoly
  • monopoly

Answer: 3

Question. What is the elasticity (e) given by the formula 1 > e > 0?

  • completely elastic
  • relatively elastic
  • completely unpredictable
  • relatively unpredictable

Answer: 4

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Question. Who developed the innovative theory of profit?

  • walker
  • clark
  • Schumpeter
  • knight

Answer: 3

Question. Production function refers to the functional relationship between the input and what?

  • product
  • produce
  • Output
  • Service

Answer: 3

Question. What are the requirements of demand?

  • flexible
  • completely inescapable
  • indescribable
  • fully flexible

Answer: 3

Question. If a commodity has a negative income elasticity of demand and a positive price elasticity of demand, what kind of commodity is it?

  • substandard goods
  • great stuff
  • general cargo
  • substandard goods

Answer 1

Question. When the percentage change in demand of a commodity is less than the percentage change in its price, then what is its demand called?

  • highly elastic
  • Beloch
  • relatively elastic
  • completely inelastic

Answer: 2

Question. The profitability of an organization depends on

  • On the quality of the trust processed
  • on the amount of trust processed
  • on the speed of processing of the trust
  • on both (1) and (3)

Answer: 4

Question. Which market condition does bilateral monopoly represent?

  • two sellers, two buyers
  • one seller and two buyers
  • two sellers and one buyer
  • one seller and one buyer

Answer: 4

Question. What is the opportunity cost of the factor of production?

  • that is being earned in its present use
  • that can be earned in the long run
  • to be paid for to be put in current use
  • that can be acquired in some other use

Answer: 4

Question. What is the demand for labor called?

  • market demand
  • derived demand
  • direct demand
  • factory requisition

Answer: 2

Question. What are the extreme forms of markets?

  • perfect competition; oligopoly
  • oligopoly; monopoly
  • perfect competition; monopoly
  • perfect competition; monopolistic competition

Answer: 3

Question. What is the reward of mana?

  • eternal/timeless phenomenon
  • directionless phenomenon
  • short term phenomenon
  • long term phenomenon

Answer: 4

Question. What does an increase in the quantity supplied represent?

  • leftward shift of the supply curve
  • upward trend of the supply curve
  • downward trend of the supply curve
  • right wing shift of the supply curve

Answer: 4

Question. The third condition of the law of variable proportions is called

  • negative consideration
  • positive consideration
  • proportionate return
  • increasing returns

Answer 1

Question. Those non-expenditure costs, which arise when a producing firm owns itself and supplies certain things of production, are called?

  • express costs
  • original cost
  • implicit costs
  • replacement cost

Answer: 3

Question. A supply function expresses the relationship between

  • price and production
  • price and selling price
  • price and demand
  • price and consumption

Answer 1

Question. Price and product are the determinants in a market structure without

  • monopoly
  • perfect competition
  • oligopoly
  • a copyright

Answer: 2

Question. If a firm is running at a loss in the short run under perfect competition:

  • It should increase its production and prices.
  • It should reduce its production and prices.
  • It should continue till its variable cost is met.
  • He should be shut down and the industry should be abandoned.

Answer: ?

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

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