Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of the following is an example of an intermediate goods?

  1. A Tata Indica sold by a dealer of second hand cars

  2. Steel and cement used to construct a flyover

  3. Farming crop purchased by FCI

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Intermediate goods are used as inputs in the production of other goods. Steel and cement used in construction are inputs for the final structure (the flyover).

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

The value of plant and machinery used and worn out in the manufacturing of goods and services is known as _______.

  1. transfer payment

  2. intermediate goods

  3. depreciation

  4. gross block
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Depreciation refers to the loss in value of fixed capital assets due to wear and tear, obsolescence, or passage of time during the production process.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

 __________ are financial assets which are not a medium of exchange but are a close substitute for a transaction of business. 

  1. Equivalent money

  2. FIAT money

  3. Token money

  4. Near money
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Near money refers to highly liquid financial assets that are not legal tender (like currency) but can be easily converted into cash, such as savings accounts or treasury bills.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of these is not a feature of a Capitalist economy?

  1. Right of private property

  2. Social justice

  3. Profit maximization

  4. Consumer sovereighty
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A capitalist economy is characterized by private property, profit motive, and consumer sovereignty. Social justice is typically a goal of socialist or mixed economies, not a defining feature of pure capitalism.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

A refrigerator operating in a chemist's shop is an example of ______________.

  1. free good

  2. final good

  3. intermediate good

  4. consumer good
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A refrigerator in a chemist's shop is used as a capital good to store medicines for business purposes, making it an intermediate good in the context of the shop's operations.