Quiznetik

Economics and Banking for Tourism Management | Set 1

1. Who is the father of economics

Correct : D. Adam smith

2. Which of the following is not an example of macro economics

Correct : C. Salary of a policeman

3. TR and TC are in Trade off with one another when___________________

Correct : C. TR=TC

4. ‘How to produce ‘ is a ____________ economic problem

Correct : B. Micro

5. Profit is the difference between total cost and ___________________

Correct : A. Total revenue

6. The law of demand can be illustrated through______________________

Correct : D. None of these

7. Giffen goods are _____________________

Correct : B. Interior goods

8. Which of the following is not an example for complementary goods

Correct : A. Tea and coffee

9. Salt is an example for ______________goods

Correct : B. Prestige

10. Expand PIN

Correct : C. Personal identification

11. Who is the Governor of RBI

Correct : A. Raghuram Rajah

12. The RBI was established in_____________________

Correct : C. 1935

13. Commercial banks grant____________________loans

Correct : C. Short term

14. Which is known as the central bank of India

Correct : A. RBI

15. Exchange control department of the RBI was constituted in

Correct : C. 1939

16. IFCI is a __________________ bank

Correct : C. Foreign bank

17. Which is the first development bank in India

Correct : B. IFCI

18. Unit Trust of India was set up in ____________________

Correct : A. 1964

19. Which bank concentrates on export promotion]

Correct : A. EXIM

20. Cost theory explains the relationship between cost &_________________

Correct : B. Output

21. Alternative cost is also known as a ____________________

Correct : C. Opportunity cost

22. Out of pocket cost are _______________ cost

Correct : D. Full

23. The contribution is the difference between total revenue and ___________________

Correct : B. Variable cost

24. The difference between break even sales and actual sales is known as _________________

Correct : A. Margin of safety

25. Break – even point is the point where________________________

Correct : B. TR=TC

26. The shape of average cost curve is ______________

Correct : C. U – Shaped

27. In the long – run there is no _______________ cost

Correct : B. Fixed Cost

28. Which is the first derivative of the TC function.

Correct : B. MC

29. TC=a+bQ is a ________________ Cost function

Correct : C. Linear

30. When AC increases MC will___________________

Correct : A. increase

31. Which of the following is not an example for durable goods

Correct : D. Food

32. Autonomans demand is also known as __________________ demand

Correct : D. Direct

33. When tax rate increase the supply of products _______________

Correct : A. Decreases

34. The shape of a demand curve is _________________

Correct : D. Downward slopping

35. The demand curve for inferior good is ____________________

Correct : B. Negatively slaped

36. Where is the Head – qusrters of RBI located

Correct : B. Mumbai

37. In which year was RBI nationalized?

Correct : D. 1949

38. Unitary elasticity of demand is

Correct : B. Equal to one

39. Which one is not an exception to the Law of Demand

Correct : A. Normal good

40. When the demand curve is a rectangular hyperbola, it represents

Correct : B. Unitary elastic demand

41. The horizontal demand curve represents

Correct : A. Perfectly elastic demand

42. Who is the present governor of RBI?

Correct : D. Raghu Ram Rajan

43. What do you call the cost incurred in past?

Correct : B. Historical cost

44. Who is the lender of the last resort?

Correct : C. Reserve Bank

45. Which bank is called Banker’s Bank?

Correct : A. RBI

46. Which is the system followed by RBI with regard to note issue?

Correct : C. Fixed minimum Reserve System

47. Which bank introduced credit card for the first time in India

Correct : A. Central Bank of India

48. What you call the cost incurred in producing an additional unit of output

Correct : B. Marginal cost

49. Which is the biggest public sector Bank in India

Correct : A. SBI

50. What is the name of the bank account opened by non-resident Indians

Correct : A. NRI a/c

51. Which is called Bank of India

Correct : D. RBI

52. The want satisfying power of a commodity is known as______________

Correct : B. Utility

53. An organization which accepts deposit that can be withdrawn as demark is known as_______

Correct : C. A bank

54. Who is an employee of a bank who deals directly with most customers

Correct : A. Teller

55. The rate at which the RBI lends short term money to the banks

Correct : B. Repo rate

56. The rate at which banks park their short term excess liquidity with the RBI is known as

Correct : B. Reverse repo rate

57. Bank rate is also known as ______________________

Correct : A. Discount rate

58. An ATM card is a ________________card?

Correct : B. Debit Card

59. Expand PIN

Correct : B. Personal Identification Number

60. Which device sorts and counts coins at the same time

Correct : A. Coin Counter

61. Which device sorts random collection of coins into separate bins for different dinominations

Correct : A. Coin sorter

62. Break – even analysis is a technique of ____________________

Correct : B. Profit Planning

63. In the long-run total cost is equal to ______________

Correct : B. TVC

64. Which costs are made once and for all and cannot be altered by varying the rate of output

Correct : A. Sunk cost

65. Break-even analysis is also known as ______________

Correct : B. Profit contribution analysis

66. All material things which posses utility are called ________________

Correct : B. Goods

67. Those goods which posses utility,scarcity and transferability are called __________

Correct : B. Economic goods

68. Capital goods are also known as ______________________

Correct : A. Producer’s goods

69. At the point where MC is equal to AC, average cost is ________________

Correct : B. Minimum

70. When the marginal ccost is rising the total cost is ______________

Correct : A. Increasing

71. An example for variable cost is

Correct : D. Wages to casual laboures

72. Increase in demand due to change in price is known as ________________

Correct : B. Expansion in demand