Which of the following is an economic activity?
A. Medical facilities rendered by a charitable dispensary B. Teaching one’s own child at home
C. A housewife doing household duties D. Listening to music on the radio
Which of the following is closest to the concept of economic production?
A. Sale of goods and services for profit B. Manufacture of goods
C. Addition to the value of commodities D. Addition to the stock of goods and services for future use
Which of the following is a characteristic feature of a modern economy?
A. Predominance of agriculture B. Self-sufficient village economy
C. Diversity in production of commodities D. Static technology
Identify economic stock from among the following:
A. Depreciation of machinery B. Production of food grains during the Kharif season
C. Purchase of food grains by a household D. Bank deposit of a household
Which of the following is an economic flow?
A. National capital B. Demand for machinery
C. Current account of a household in a bank
A closed economy is one which:
A. Does not trade with other countries B. Does not possess any means of international transport
C. Does not have a coastal line D. Is not a member of the United Nations Organisation
The traditional economy is characterised by:
A. Division of labour and specialisation B. Organisation of production for self-consumption
C. Capital-intensive process of production D. Increasing state intervention
Who among the following is a non-resident of India?
A. A person of Indian origin working at the World Bank, Washington, DC B. A person of Indian origin employed in the UNO office at New Delhi
C. The Indian manager of the Punjab National Bank branch office in London D. An Indian tourist in Europe
Purchase of a ceiling fan by a household is treted in national income accounting as a part of:
A. Capital formation B. Consumption over a long period of time
C. Consumption at the time of its purchase D. Intermediate consumption
Corporate enterprises refer to:
A. Business houses maintaining a separate profit and loss account B. Business houses that obtain loans from a bank
C. Business houses that obtain loans from the public D. Business houses that are independent of their owners