Tag: social science

Questions Related to social science

Match the items of List-I with the items of List-II and select the correct answer using the codes given below the lists.

List-I List-II
(a) Rural Industries Programme (i) Meant for various target groups like Rural youth, Ex-serviceman, women and Scheduled Castes/ Tribes
(b) Mahila Vikas Nidhi Scheme (ii) Aim at ensuring flow of credit to the dis-advantaged sections of the society
(c) Enterpreneur-ship Development Programme (iii) Commercial exploitation of local resources
(d) Micro Credit Scheme (iv) Provides assistance to voluntary organizations for the benefit of women
social science rural development in india credit and banking in rural areas rural activities credit

  1. $(a) - (i), (b) - (iii), (c) - (ii), (d) - (iv)$

  2. $(a) - (ii), (b) - (iv), (c) - (i), (d) - (iii)$

  3. $(a) - (iv), (b) - (ii), (c) - (iii), (d) - (i)$

  4. $(a) - (iii), (b) - (iv), (c) - (i), (d) - (ii)$

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Correct Option: D

NABARD was established on the recommendation of ___________.

social science rural development in india credit and banking in rural areas rural activities credit

  1. Public Account Committee

  2. Shivaraman Committee

  3. Narshimhan Committee

  4. None of these

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Correct Option: B
Explanation:

NABARD is an apex development financial institution in India,headquarters in Mumbai.

It was established on the recommendations of B Sivaraman Committee on July 12, 1982, to implement the National Bank for Agriculture and Rural Development Act 1981.

_______ refers to the importance of a commodity due to its usefulness whereas _______ refers to the capacity of a commodity to command or obtain other goods in exchange.

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. Value in use, value in exchange

  2. Value in exchange, value in use

  3. Price, value in exchange

  4. Price, value

Show answer
Correct Option: A
Explanation:

Power of commodity which can command to exchange itself with the other good is called the Value of product. It refers to the importance of a commodity due to its usefulness. Usually a product is valued by the money. Capacity of a commodity to command or obtain other goods in exchange is called value of exchange.

______ can be defined as the power of a commodity to command other commodities in its exchange.

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. Value

  2. Utility

  3. Goods

  4. Price

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Correct Option: A
Explanation:

Power of commodity which can command to exchange itself with the other good is called the Value of product. Usually a product is valued by the money. 

___________ refers to the amount of money which must be exchanged for a unit of a commodity.

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. Value

  2. Utility

  3. Price

  4. Goods

Show answer
Correct Option: C
Explanation:

Power of commodity which can command to exchange itself with the other good is called the Value of product. Usually a product is valued by the money. And this money with which a product is valued is called its price.

Which of the following can be used as collateral in Indian banks to borrow money?

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. Bank passbook

  2. Credit card

  3. Own House

  4. Passport

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Correct Option: C

Demand price is identical with __________.

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. AR

  2. MR

  3. TR

  4. MC

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Correct Option: A
Explanation:

Average revenue refers to the revenue per unit of output sold. It is obtained by dividing the total revenue by the number of units. AR is equal to per unit sale receipts and price is always per unit. Since sellers receive revenue according to the price, price and AR are one and the same thing.

TR= Quantity * Price

AR= TR/ Quantity

AR= (Quantity * price)/ quantity

AR= Price

When price discrimination extends to two or more countries it is called __________.

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. dumping

  2. differentiation

  3. dual pricing

  4. price preference

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Correct Option: A
Explanation:

Dumping is, in general, a situation of international price discrimination where the price of a product which is sold to the importing country is less than the price of the same product when sold in the market of the exporting country. It is generally perceived that dumping would result in unfair trade.

Long run determinant of price, is equal to ______.

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. marginal utility

  2. market forces

  3. cost of production

  4. brand value

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Correct Option: C
Explanation:

It is believed in long run production function,total revenue is equal to total cost . There is no extra normal profit or abnormal loss.Thus , in long run price of the product is equal to the cost of production.

Attainment of equilibrium in a market is dependent on which basic component?

social science prices and cost of living value and price utility, value and price price rise/inflation

  1. Firm

  2. Industry

  3. Price

  4. All of the above

Show answer
Correct Option: C
Explanation:

Price determination is an essential component of the market. Hence, price is the key feature of the market. A market can expand or contract depending on the price of the product.