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