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 NOT a factor of production? Land Labor Capital Inflation None 2. The demand curve slopes: Upward Downward Horizontally Vertically None 3. Which of the following is a feature of a mixed economy? Only public sector dominates Only private sector dominates Both public and private sectors coexist Complete absence of government intervention None 4. An increase in supply with no change in demand leads to: Increase in price Decrease in price No change in price Increase in demand None 5. Which of the following is a qualitative tool of monetary policy? Bank rate Open market operations Credit rationing Cash reserve ratio None 6. Which of the following is NOT a phase of the business cycle? Expansion Peak Depression Stagnation None 7. Full employment refers to: Zero unemployment Minimum level of unemployment Only self-employment Maximum unemployment None 8. Which index is used to measure inflation in India? Consumer Price Index (CPI) Wholesale Price Index (WPI) GDP Deflator Both a and b None 9. Stagflation is a situation of: High inflation and low growth High inflation and high growth Low inflation and low growth Low inflation and high growth None 10. Which of the following is a characteristic of a developed economy? Low per capita income High literacy rate Dependence on agriculture High poverty rate None 11. Which tax is imposed by the central government and shared with the states? Income Tax GST Customs Duty Excise Duty None 12. The budget deficit occurs when: Government revenue exceeds expenditure Government expenditure exceeds revenue Government revenue equals expenditure Government borrows more None 13. Public expenditure refers to: Government borrowing Government spending Government revenue collection All of the above None 14. Direct taxes are levied on: Income and wealth Goods and services Imports and exports None of the above None 15. The term ‘progressive tax’ means: Higher income groups pay more tax Lower income groups pay more tax Everyone pays the same tax None of the above None 16. Foreign exchange reserves are maintained by: SEBI RBI IRDAI Ministry of Finance None 17. The term ‘dumping’ in international trade refers to: Selling goods at a high price in foreign markets Selling goods below cost price in foreign markets Imposing high import duties Importing goods illegally None 18. The organization responsible for global trade rules is: IMF WTO World Bank UNCTAD None 19. Devaluation of currency leads to: Increase in exports Increase in imports Decrease in foreign exchange reserves None of the above None 20. Which of the following is NOT an objective of the World Bank? Poverty reduction Infrastructure development Foreign exchange regulation Economic stability None 21. Business ethics refers to: Profit maximization only Moral principles in business Ignoring social responsibility None of the above None 22. CSR applies to companies with: Net worth of ₹500 crore or more Turnover of ₹1000 crore or more Net profit of ₹5 crore or more Any of the above None 23. Triple Bottom Line includes: People, Profit, Process People, Planet, Profit People, Performance, Promotion None of the above None 24. Sustainable development means: Continuous economic growth Meeting present needs without compromising future needs Maximum utilization of resources None of the above None 25. Whistleblowing refers to: Reporting illegal or unethical activities Hiding company’s faults Promoting competition None of the above None 26. Cryptocurrency is based on: Blockchain technology Centralized banking Paper currency None of the above None 27. Which of the following is NOT a function of a commercial bank? Accepting deposits Lending loans Issuing currency Credit creation None 28. Financial inclusion means: Making financial services accessible to all Providing services to high-income groups only Restricting access to banking services None of the above None 29. A stock market index reflects: Movement of stock prices Inflation trends GDP growth None of the above None 30. UPI (Unified Payments Interface) is regulated by: NPCI SEBI RBI IRDAI None 31. The largest contributor to India's GDP is the: Agriculture sector Industrial sector Service sector Manufacturing sector None 32. The Headquarters of the Reserve Bank of India (RBI) is located in: New Delhi Mumbai Chennai Kolkata None 33. Fiscal policy is formulated by: Reserve Bank of India Securities and Exchange Board of India Ministry of Finance NITI Aayog None 34. Inflation is measured in India using: GDP growth rate Index of Industrial Production (IIP) Consumer Price Index (CPI) Balance of Payments None 35. The Goods and Services Tax (GST) in India follows: Single tax system Dual tax system None of the above Indirect tax system only None 36. The term ‘Repo Rate’ refers to: Rate at which RBI lends money to commercial banks Rate at which banks lend money to customers Rate at which banks borrow from customers None of the above None 37. Which of the following is a function of SEBI? Regulating stock markets Controlling inflation Managing monetary policy Formulating fiscal policy None 38. The Balance of Trade (BOT) refers to: Difference between a country’s total exports and imports of goods Difference between a country’s total revenue and expenditure Difference between domestic and foreign investments None of the above None 39. The Startup India initiative was launched in: 2015 2016 2017 2018 None 40. The Human Development Index (HDI) is published by: World Bank International Monetary Fund United Nations Development Programme (UNDP) Programme (UNDP) d) Reserve 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!
