Fundamentals of Economics

Q 21. Total Outlay Method of measuring Elasticity of Demand was introduced by _________

(A) Stanley Jevons
(B) Alfred Marshall
(C) Adam Smith
(D) J.R. Hicks
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Q 22. _________ demand is also known as Direct Demand.

(A) Derived
(B) Autonomous
(C) Individual
(D) Consumption
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Q 23. The Law of Diminishing Marginal Utility was developed by ____________

(A) Stanley Jevons
(B) Alfred Marshall
(C) Adam Smith
(D) J.R. Hicks
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Q 24. ___________ is an act to use the goods or service to satisfy the wants.

(A) Production
(B) Consumption
(C) Savings
(D) Distribution
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Q 25. _____________ is the father of Economics. 9

(A) Adam Smith
(B) Alfred Marshall
(C) Lionel Robbins
(D) J.R. Hicks
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Q 26. ___________ market is the nerve centre of the financial system.

(A) Money
(B) Capital
(C) Local
(D) National
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Q 27. Securities market in India is regulated by the ___________

(A) Government
(B) RBI
(C) SEBI
(D) SBI
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Q 28. ________ is one among the quantitative methods of credit control.

(A) Bank Rate Policy
(B) Moral Suasion
(C) Direct Action
(D) Rationing of Credit
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Q 29. Traditional function of a commercial bank is ______________

(A) issue of gift cheque
(B) credit creation
(C) providing locker facilities
(D) acceptance of deposits
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Q 30. “Money is what money does”. This definition was given by __________

(A) Adam Smith
(B) Walker
(C) Robbins
(D) Robertson
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