General Knowledge Question Answer: Business And Economics GK Questions and Answers

General Knowledge Business And Economics Questions, Business And Economics Quiz for Competitive Exams, Important Business And Economics MCQs for GK

Q. Which term is used in the field of Banking?
1) Current Account
2) Plasma
3) Follow on
4) Cold chain

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Q. Which one of the following is presently the largest oil refinery of India?
1) Mathura (IOC)
2) Visakhapatnam (HPCL)
3) Vadodara
4) Mumbai (BPCL)

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Q. Who propounded the Innovation theory of profits?
1) P.A.Samuelson
2) Alfred Marshall
3) J.A.Schumpeter
4) David Ricardo

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Q. The degree of monopoly power is to be measured in terms of the firm's
1) normal profit
2) selling price
3) supernormal profit
4) both normal and supernormal profit

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Q. Which one of the following is not a 'canon of taxation' according to Adam Smith?
1) Canon of convenience
2) canon of economy
3) Canon of simplicity
4) canon of certainty

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Q. Which is the most important source of revenue of the States in India?
1) Professional taxes
2) Land Revenue
3) Sales Tax
4) Excise duty

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Q. Protectionism in the International trade standa for
1) Semi-restricted trade
2) Free trade policy
3) Restricted trade policy
4) All of these

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Q. ....is the largest oil refinery in India.
1) Haldia
2) Koyali
3) Digboi
4) Trombay

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Q. India’s largest supplier of crude oil is—
1) Saudi Arab
2) Iran
3) Nigeria
4) Qatar

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Q. .... has the highest number of cotton mills in India.
1) Tamil Nadu
2) Maharashtra
3) Gujarat
4) West Bengal

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