{"id":900,"date":"2023-06-18T22:30:51","date_gmt":"2023-06-18T17:00:51","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=900"},"modified":"2023-06-19T13:14:08","modified_gmt":"2023-06-19T07:44:08","slug":"demand-and-supply-profit-loss-inflation-and-price-index","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/demand-and-supply-profit-loss-inflation-and-price-index\/","title":{"rendered":"Demand and Supply Profit Loss Inflation and Price Index &#8211; Indian Economy GK MCQ"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/demand-and-supply-profit-loss-inflation-and-price-index\/#Demand_and_Supply_Profit_Loss_Inflation_and_Price_Index_%E2%80%93_Indian_Economy_GK_MCQ_%E0%A4%AE%E0%A4%BE%E0%A4%82%E0%A4%97_%E0%A4%94%E0%A4%B0_%E0%A4%86%E0%A4%AA%E0%A5%82%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%BF_%E0%A4%B2%E0%A4%BE%E0%A4%AD_%E0%A4%B9%E0%A4%BE%E0%A4%A8%E0%A4%BF_%E0%A4%AE%E0%A5%81%E0%A4%A6%E0%A5%8D%E0%A4%B0%E0%A4%BE%E0%A4%B8%E0%A5%8D%E0%A4%AB%E0%A5%80%E0%A4%A4%E0%A4%BF_%E0%A4%94%E0%A4%B0_%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF_%E0%A4%B8%E0%A5%82%E0%A4%9A%E0%A4%95%E0%A4%BE%E0%A4%82%E0%A4%95\" >Demand and Supply  Profit Loss Inflation and Price Index &#8211; Indian Economy GK MCQ ( \u092e\u093e\u0902\u0917 \u0914\u0930 \u0906\u092a\u0942\u0930\u094d\u0924\u093f \u0932\u093e\u092d \u0939\u093e\u0928\u093f \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0914\u0930 \u092e\u0942\u0932\u094d\u092f \u0938\u0942\u091a\u0915\u093e\u0902\u0915 )<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/demand-and-supply-profit-loss-inflation-and-price-index\/#Demand_and_Supply_Profit_Loss_Inflation_and_Price_Index_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\" >Demand and Supply Profit Loss Inflation and Price Index  &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/demand-and-supply-profit-loss-inflation-and-price-index\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Demand_and_Supply_Profit_Loss_Inflation_and_Price_Index_%E2%80%93_Indian_Economy_GK_MCQ_%E0%A4%AE%E0%A4%BE%E0%A4%82%E0%A4%97_%E0%A4%94%E0%A4%B0_%E0%A4%86%E0%A4%AA%E0%A5%82%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%BF_%E0%A4%B2%E0%A4%BE%E0%A4%AD_%E0%A4%B9%E0%A4%BE%E0%A4%A8%E0%A4%BF_%E0%A4%AE%E0%A5%81%E0%A4%A6%E0%A5%8D%E0%A4%B0%E0%A4%BE%E0%A4%B8%E0%A5%8D%E0%A4%AB%E0%A5%80%E0%A4%A4%E0%A4%BF_%E0%A4%94%E0%A4%B0_%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF_%E0%A4%B8%E0%A5%82%E0%A4%9A%E0%A4%95%E0%A4%BE%E0%A4%82%E0%A4%95\"><\/span>Demand and Supply  Profit Loss Inflation and Price Index &#8211; Indian Economy GK MCQ ( \u092e\u093e\u0902\u0917 \u0914\u0930 \u0906\u092a\u0942\u0930\u094d\u0924\u093f \u0932\u093e\u092d \u0939\u093e\u0928\u093f \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0914\u0930 \u092e\u0942\u0932\u094d\u092f \u0938\u0942\u091a\u0915\u093e\u0902\u0915 )<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Deepen your understanding of demand, supply, profit, loss, inflation, and price index with a comprehensive collection of Multiple Choice Questions (MCQs) sourced from previous year papers of various competitive exams, including UPSC IAS. Test your knowledge, enhance your problem-solving skills, and stay updated with key concepts in economics.<\/p>\n\n\n\n<p>Brief: Are you searching for a reliable resource to strengthen your understanding of demand, supply, profit, loss, inflation, and price index? Look no further! Our MCQs page offers an extensive array of questions sourced from previous year papers of various competitive exams, including UPSC IAS and more.<\/p>\n\n\n\n<p>Immerse yourself in a stimulating learning experience as you explore this repository of MCQs. By attempting these questions, you can assess your knowledge, identify areas for improvement, and sharpen your understanding of these crucial economic concepts.<\/p>\n\n\n\n<p>Our MCQs cover a wide range of topics related to demand, supply, profit, loss, inflation, and price index. Whether you are a student preparing for a competitive exam or an individual interested in economics, this resource is a valuable tool. Engage with the questions sourced from previous year papers to stay updated with the latest theories, trends, and applications in these areas.<\/p>\n\n\n\n<p>By practicing with these MCQs, you can enhance your problem-solving skills, critical thinking abilities, and decision-making prowess in the context of economic analysis. Develop a comprehensive understanding of the factors influencing demand and supply, profit and loss calculations, inflationary trends, and price index methodologies.<\/p>\n\n\n\n<p>Maximize the utility of this page to excel in your exams. Dive into focused study sessions, reinforce your knowledge, and boost your confidence in tackling questions related to demand, supply, profit, loss, inflation, and price index.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Demand_and_Supply_Profit_Loss_Inflation_and_Price_Index_%E2%80%93_Indian_Economy_GK_MCQ_%E2%80%93_Previous_Year_Questions\"><\/span>Demand and Supply Profit Loss Inflation and Price Index  &#8211; Indian Economy GK MCQ &#8211; Previous Year Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In a perfectly competitive economy production and consumption will both be Pareto optimal, if the economy operates at a point where<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66947\"> output levels are above equilibrium<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66947\"> there is general equilibrium<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66947\"> output levels are below equilibrium<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66947\">consumption is less than output<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who among the following has suggested migration to accrual accounting system from cash based accounting system in India?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66950\">D.N. Ghosh<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66950\">R.H. Patil<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66950\">C. Rangarajan<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66950\"> I.V. Reddy<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following terms is used in Economics to denote a technique for avoiding risk by making a counteracting transaction?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66954\"> Hedging<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66954\">Discounting<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66954\">Deflating<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66954\">Dumping<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Inflation is caused by<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66956\">Decrease in money supply<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66956\"> Increase in supply of goods<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66956\"> Increase in cash with the government<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66956\"> Increase in money supply<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The price at which the Government purchase foodgrains for maintaining the public distribution system and for building up buffer stocks are known as<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66959\"> Procurement prices<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66959\">Issue prices<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66959\">Minimum support prices<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66959\"> Coiling prices<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The production function of a firm will change whenever<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66961\">the firm increases its level of output<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66961\">input price changes<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66961\">the firm employs more of any input<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66961\">the relevant technology changes<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following fixed the four percent inflation target in India with tolerance level of +\/\u20132 percent for the period 2016 to 2021?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66965\"> NITI Aayog<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66965\"> Fourteenth Finance Commission<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66965\"> Reserve Bank of India<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66965\">Government of India<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A \u2018closed economy\u2019 is an economy in which<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66968\">only exports take place.<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66968\"> the money supply is fully controlled.<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66968\"> deficit financing takes place.<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66968\"> neither exports nor imports take places.<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The income elasticity of demand for inferior goods is<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66972\">less than zero<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66972\"> equal to one<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66972\"> less than one<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66972\">greater than one<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Consider the following factors regarding an industry :\r\n\r\nCapital Investment\r\nBusiness Turnover\r\nLabour Force\r\nPower Consumption\r\nWhich of these determine the nature and size of the industry?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66975\">2, 3 and 4<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66975\"> 1, 3 and 4<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66975\"> 1, 2 and 4<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66975\">2 and 3<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following statements is an appropriate description of deflation?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66978\"> It is a persistent fall in the general price level of goods and services<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66978\"> It is a fall in the rate of inflation over a period of time<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66978\">It is a sudden fall in the value of a currency against other currencies<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66978\">It is persistent recession in both the financial and real sectors of economy<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who recommends the MSP and issue prices?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66982\">Planning commission<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66982\">Commission for Agricultural Costs and Prices<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66982\">Ministry of agriculture<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66982\">NABARD<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is not a \u2018Public Good\u2019?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66983\"> National Defence<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66983\">Light House<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66983\"> Electricity<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66983\"> Public Parks<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A rapid increase in the rate of inflation is sometimes attributed to the \u2018base effect\u2019. What \u2018base effect\u2019?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66986\"> It is the impact of the price levels of previous year on the calculation of inflation rate<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66986\">None of the statements (A), (B) and (C) given above is correct in this content<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66986\">It is the impact of drastic deficiency in supply due to failure of crops<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66986\">It is the impact of the surge in demand due to rapid economic growth<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In India, in the overall Index of Industrial Production, the indices of eight core industries have a combined weight of 37-90%. Which of the following are among those eight core industries?\r\n\r\nCement\r\nFertilisers\r\nNatural gas\r\nRefinery products\r\nTextiles\r\nSelect the correct answer using the codes given below.<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66989\"> Only 1, 2, 3 and 4<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66989\">1, 2, 3, 4 and 5<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66989\">Only 1 and 5<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66989\">Only 2, 3 and 4<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The acronym SRO, being used in the capital market for various market participants, stands for which one of the following?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66992\"> Securities Roll-back Operators<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66992\">Self Regulatory Organisations<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66992\"> Small Revenue Operators<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66992\">Securities Regulatory Organisations<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">What is meant by price discrimination?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66995\"> A situation where the same product is sold to different consumers for different prices<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66995\"> Subsidization of a product by the Government to sell it at a lower price<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66995\">Increase in price of a commodity over time<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66995\">General decrease in price of a commodity over time<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following is the act of stimulating the economy by increasing the money supply or by reducing taxes ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_66999\">Inertial inflation<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_66999\"> Disinflation<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_66999\"> Reflation<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_66999\">Inflation hedge<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following would cause the aggregate demand curve to shift to the right?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67002\"> an increase in real interest rates<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67002\">an appreciation of the American dollar<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67002\"> an increase in purchases by the federal government<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67002\">a decrease in the money supply<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">With reference to India, consider the following statements.\r\n\r\nThe Wholesale Price Index (WPI) in India is available on a monthly basis only.\r\nAs compared on Consumers Price Index for Industrial Workers [CPI(IW)] the WPI gives less weight to food articles.\r\nWhich of the following statement(s) given above is\/are correct?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_67005\"> Both 1 and 2<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_67005\"> Neither 1 nor 2<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_67005\">Only 1<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_67005\"> Only 2<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script src=\"https:\/\/code.jquery.com\/jquery-3.6.0.min.js\"><\/script>\r\n<script>\r\n$(document).ready(function() {\r\n  $('.show-answer').click(function() {\r\n    var answer = $(this).data('answer');\r\n    $(this).siblings('.answer-box').html('The correct answer is: ' + answer).slideDown();\r\n    $(this).hide();\r\n  });\r\n});\r\n<\/script>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Links\"><\/span>Some Important Links <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/geography\/\" target=\"_blank\" rel=\"noreferrer noopener\">Geography MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/state-gk-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">State GK MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/current-affairs-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs MCQs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" style=\"display:block\" data-ad-format=\"autorelaxed\" data-ad-client=\"ca-pub-6643489308705072\" data-ad-slot=\"2759669284\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Demand and Supply Profit Loss Inflation and Price Index &#8211; Indian Economy GK MCQ ( \u092e\u093e\u0902\u0917 \u0914\u0930 \u0906\u092a\u0942\u0930\u094d\u0924\u093f \u0932\u093e\u092d \u0939\u093e\u0928\u093f \u092e\u0941\u0926\u094d\u0930\u093e\u0938\u094d\u092b\u0940\u0924\u093f \u0914\u0930 \u092e\u0942\u0932\u094d\u092f \u0938\u0942\u091a\u0915\u093e\u0902\u0915 ) Deepen your understanding of demand, supply, profit, loss, inflation, and price index with a comprehensive collection of Multiple Choice Questions (MCQs) sourced from previous year papers of various competitive exams, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[75],"tags":[109,786,788,787,784,91,589,785,782,783,590],"class_list":["post-900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-economy","tag-competitive-exams","tag-demand","tag-economic-concepts","tag-inflation","tag-loss","tag-mcqs","tag-previous-year-papers","tag-price-index","tag-profit","tag-supply","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=900"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/903"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}