Economy

4 questions

• 2018 · Question 47 · Economic Concepts

  If a commodity is provided free to the public by the Government, then

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  (a)the opportunity cost is zero.(b)the opportunity cost is ignored.(c)the opportunity cost is transferred from the consumers of the product to the tax-paying public.(d)the opportunity cost is transferred from the consumers of the product to the Government.

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  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)

• 2018 · Question 48 · Economic Concepts

  Increase in absolute and per capita real GNP do not connote a higher level of economic development, if

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  (a)industrial output fails to keep pace with agricultural output.(b)agricultural output fails to keep pace with industrial output.(c)poverty and unemployment increase.(d)imports grow faster than exports.

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  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)

• 2018 · Question 49 · Economic Concepts

  Consider the following statements : Human capital formation as a concept is better explained in terms of a process which enables 1. individuals of a country to accumulate more capital. 2. increasing the knowledge, skill levels and capacities of the people of the country. 3. accumulation of tangible wealth. 4. accumulation of intangible wealth. Which of the statements given above is/are correct ?

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  (a)1 and 2(b)2 only(c)2 and 4(d)1, 3 and 4

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  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)

• 2018 · Question 50 · Economic Concepts

  Despite being a high saving economy, capital formation may not result in significant increase in output due to

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  (a)weak administrative machinery(b)illiteracy(c)high population density(d)high capital-output ratio

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  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)