Placement Paper |   10351

Placement Paper

SAMPLE BITS OF BSNL DGM PART-A , ECONOMICS. BSNL Management trainee,JTO officer recruitment test procedure and previous years solved questions with answers

Q)        Positive economics explains economic phenomena according to?

Ans) Their causes and effects

Q)        A positive statement is based on facts. A normative statement involves________________?

Ans) ethical values.

Q)         Microeconomics is sometimes referred to as________________?

Ans) Price Theory.

Q)         In a Free market economydemand and supply determine_______________?

Ans)The allocation of resources.

Q)         In a Free Market economy If demand for a product is high and supply is less than the demand, its price will________________?

Ans) Increase.

Q)         In _________________ economy consumers and producers make their choices based on the market forces of demand and supply, as reflected in prices.

Ans) Market

Q)         In a market economy Market forces determine the allocation of scarce resources through___________________ mechanism

Ans) the price

Q)         A free economy cannot function in________________?

an anarchic situation(not being under control; out of control; eg:"the greatest uncontrolled health problem is AIDS"; "uncontrolled growth)

Q)         In a ____________________economy, all the economic decisions, like what to produce, how to produce, and for whom to produce are taken by the government& it has complete control over the economy.

Ans) command

Q)        Expand PPC?

Ans) Production possibility curve.

Q)         If a point falls inside the Production possibility curve,it indicates?

Ans) Resources are underutilized and there is unemployment in the economy

Q)         The outward shift in the PPC represents_______________?

Ans) Growth of the economy.

Q)        ____________________do not form part of the PPC in any way?

Ans) Demand-supply analysis (prices, demand & supply)