List of practice Questions

Which of the following means of exchange has universal acceptance?
What would be the change in demand for money for transaction purposes due to rise in prices?
Of the alternative measures of supply of money by Reserve Bank of India which is the correct component of M1?
Who demands the factors of production in the circular flow of income of a simple economy?
In an economy what is the expenditure made by household sector called?
What kind of goods does a firm consume during the process of production?
In Gross value added - A = Net value added, what is A?
Nominal gross domestic product is measured at which prices?
If consumer price index for 2023 is being prepared in which prices would be compared with 2010 prices, then what are 2023 and 2010 respectively?
In which economy are the resources allocated for happiness and prosperity of the whole economy?
In the equation of the budget line \( p_1x_1 + p_2x_2 = M \), what are \( p_1, p_2 \)?
Which of the following variables is defined for a time period?
Which of the following is capital of economy?
What is the adjustment for routine wear and tear of capital goods called?
Who purchases capital goods?
From where does a man get the ability to purchase goods?
What is 'Allocation of limited resources'?
Which of the following is termed as economic cost?
Who decides 'what to produce' in a market economy?
What do we mean by the word 'market'?
What type of economy is in India?
Under which of the following is the price determination of goods by demand and supply studied?
When will the entry and exit of firms in the market stop?
The minimum support price policy gives rise to which problem?
What is the market where both consumer and firms are price takers called?