Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Economic and Business Environment Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email State 1. Which of the following is considered a microeconomic concept? Inflation National income Consumer demand Balance of payments None 2. An inferior good is one for which demand: Increases as income increases Decreases as income increases Remains unchanged with income Is not influenced by price changes None 3. In economics, scarcity refers to: The limited availability of resources High demand for goods Unlimited wants of individuals The concept of income distribution None 4. The law of demand states that: Price and demand are directly proportional. Price and demand are inversely proportional Demand and supply are unrelated. None of the above. None 5. Price elasticity of demand measures the: Sensitivity of quantity demanded to price changes Relationship between supply and demand Sensitivity of price to changes in demand Impact of price changes on total revenue None 6. A perfectly inelastic demand curve is: Vertical Horizontal Downward sloping Upward sloping None 7. Which of the following factors shifts the demand curve? A change in the price of the good itself A change in consumer income A change in the supply of the good A change in production costs None 8. What is the equilibrium price in a market? The price at which supply exceeds demand The price at which demand exceeds supply The price at which quantity demanded equals quantity supplied The price at which total revenue is maximized None 9. If a good has many close substitutes, its demand is likely to be: Perfectly inelastic Elastic Unitary elastic Perfectly elastic None 10. Which type of market structure is characterized by a single seller? Perfect competition Oligopoly Monopolistic competition Monopoly None 11. largest contributor to India’s GDP is: Agriculture Manufacturing Services Mining None 12. Which sector is known as the "backbone of the Indian economy"? Agriculture IT sector Banking Automobile None 13. Which organization publishes the Economic Survey of India? Reserve Bank of India NITI Aayog Ministry of Finance Ministry of Commerce None 14. Which index measures inflation in India? Consumer Price Index (CPI) Index of Industrial Production (IIP) Wholesale Price Index (WPI) Both a) and c) None 15. The full form of GDP is: Gross Direct Product General Domestic Production Gross Domestic Product Global Development Policy None 16. Which of the following is not a component of the business environment? Economic environment Political environment Technological environment Personal environment None 17. Which organization regulates the stock markets in India? SEBI RBI IRDAI PFRDA None 18. What is the full form of MSME? Micro, Small, and Medium Enterprises Modern Sustainable Marketing Enterprise Manufacturing and Service Medium Enterprises Market Strategy for Medium Entrepreneurs None 19. Foreign Direct Investment (FDI) in India is regulated by: Reserve Bank of India Ministry of Finance SEBI Ministry of Commerce and Industry None 20. Which of the following is an example of a non-banking financial company (NBFC)? SBI LIC HDFC Bank ICICI Bank None 21. Which organization is responsible for printing currency notes in India? RBI Ministry of Finance SEBI NITI Aayog None 22. The concept of “Atmanirbhar Bharat” is aimed at: Promoting self-reliance Encouraging foreign investments Increasing imports Reducing agricultural output None 23. Which of the following is not a function of the RBI? Regulating stock markets Controlling inflation Managing foreign exchange reserves Issuing currency None 24. The GST Council is headed by: Finance Minister of India RBI Governor Prime Minister of India Chief Economic Advisor None 25. Which of the following taxes was subsumed into GST? Income Tax Excise Duty Corporate Tax Customs Duty None 26. Which of the following is a qualitative measure of economic development? GDP growth Employment rate Improvement in standard of living Industrial production index None 27. The Human Development Index (HDI) is published by: World Bank United Nations Development Programme (UNDP) IMF WTO None 28. Which of the following is an example of a direct tax? Goods and Services Tax (GST) Excise duty Corporate tax Custom duty None 29. Which government initiative aims to boost the Indian startup ecosystem? Make in India Digital India Startup India Atmanirbhar Bharat None 30. Which of the following is the main function of NITI Aayog? Conduct monetary policy Prepare five-year plans Act as a think tank for policy formulation Regulate banking activities None 31. Which of the following is a money market instrument? Shares Treasury bills Debentures Mutual funds None 32. The primary market is where: Previously issued securities are traded Only government bonds are issued New securities are issued for the first time Stock exchanges operate None 33. Which of the following is a function of SEBI? Printing currency Regulating mutual funds Managing fiscal policy Controlling inflation None 34. Which stock exchange in India is the oldest? NSE BSE MCX NCDEX None 35. Which type of mutual fund invests primarily in shares of companies? Debt fund Equity fund Hybrid fund Index fund None 36. Which of the following is not a function of commercial banks? Accepting deposits Issuing currency Granting loans Providing investment services None 37. Which of the following banks is fully owned by the Government of India? HDFC Bank ICICI Bank State Bank of India (SBI) EXIM Bank None 38. What does CRR stand for in banking? Cash Reserve Ratio Credit Risk Ratio Current Reserve Rate Cash Regulatory Requirement None 39. The primary function of NABARD is to: Regulate stock markets Provide credit for rural development Control monetary policy Issue government securities None 40. Which financial institution is the lender of last resort? RBI SEBI NITI Aayog Ministry of Finance None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
