SSC CPO TOPIC WISE QUESTION PAPER : ECONOMICS

1 Which one of the following statements is correct? (SSC Sub. Ins. 2012)

(a) A commodity will value if it is wanted by somebody.
(b) A commodity will have value only if it is scarce relative to demand.
(c) The value of a commodity depends upon its price.
(d) The value of a commodity is entirely dependent upon the substitutes.

ANS (B)

2. Which of the following formulae could be used for calculating the per capita income of a country? (SSC Sub. Ins. 2012)

(a) Totalfamilyincome Number of familymembers
(b)Nationalincome Total population
(c) Totalincomeof various industries Totalnumberof industrialwor kers
(d) TotalGovernment Revenue Totalpopulation

ANS (B)

3. For controlling inflation, the central bank should (SSC Sub. Ins. 2012)

(a) sell Government securities in the open market
(b) lower the bank rate
(c) purchase Government securities in the open market
(d) lower the reserve ratio of the banks

ANS (A)

4. There is no selling cost under (SSC Sub. Ins. 2012)

(a) Perfect competition
(b) Monopolistic competition
(c) Oligopoly
(d) Duopoly

ANS (A)

5. Which of the following is not a function of the Exim Bank of India? (SSC Sub. Ins. 2012)

(a) Financing of export and import of goods and services
(b) Inspection of exported goods for quality assurance
(c) Financing of joint ventures in foreign countries
(d) Loans to Indian parties for contribution to share capital of joint ventures abroad

ANS (B)

6. The Social Forestry Scheme was introduced during (SSC Sub. Ins. 2012)

(a) Fourth Five Year Plan
(b) Eighth Five Year Plan
(c) Second Five Year Plan
(d) Sixth Five Year Plan

ANS (D)

7. Which one of the following iron and steel works in India is not under public sector? (SSC Sub. Ins. 2012)

(a) Bokaro
(b) Jamshedpur
(c) Bhilai
(d) Durgapur

ANS (B)

8. If a firm is operating at loss in the short-period in perfect combination. it should; (SSC Sub. Ins. 2013)

(a) decrease the production and the price.
(b) increase the production and the price
(c) continue to operate as long as it covers even the variable costs.
(d) shut-down and leave the industry

ANS (C)

9. Which of the following is an indirect tax ? (SSC Sub. Ins. 2013)

(a) Capital Gains Tax
(b) Excise Duty
(c) Wealth Tax
(d) Estate Duty

ANS (B)

10. Taxes on professions can be levied by: (SSC Sub. Ins. 2013)

(a) State government only
(b) both by state and union government
(c) by panchayats only
(d) Union government only

ANS (A)

11. Which one is not a function of money? (SSC Sub. Ins. 2013)

(a) Transfer of value
(b) Store of value
(c) Price stabilisation
(d) Value measurement

ANS (C)

Study Kit For SSC Exam for Sub-Inspectors in Delhi Police & CAPFs, CISF

12. "Closed Economy" means: (SSC Sub. Ins. 2013)

(a) no provision for public sector
(b) no provision for private sector
(c) economy policy not well defined
(d) a country having no imports and exports

ANS (D)

13. At "Break-even point", (SSC Sub. Ins. 2013)

(a) the industry is in equilibrium in the long-run.
(b) the producers suffers the minimum losses
(c) the seller earns maximum profit
(d) the firm is at zero-profit point

ANS (D)

14. In the balance of payments account, unrequited receipts and payments are also regarded as (SSC Sub. Ins. 2014)

(a) bilateral transfers
(b) unilateral transfers
(c) capital account transfers
(d) invisible transfers

ANS (B)

15. Price and output are determinates in market structure other than (SSC Sub. Ins. 2014)

(a) monopoly
(b) perfect competition
(c) oligopoly
(d) monopsony

ANS (B)

16. If average cost falls, marginal cost (SSC Sub. Ins. 2014)

(a) increases at a higher rate
(b) falls at the same rate
(c) increases at a lower rate
(d) falls at a higher rate

ANS (B)

17. Which one of the following disburses long term loans to private industry in India ? (SSC Sub. Ins. 2014)

(a) Food Corporation of India
(b) Life Insurance Corporation of India
(c) Primary Credit Society
(d) Land Development Banks

ANS (D)

18. A low interest policy is also known as : (SSC Sub. Ins. 2015)

(a) investment policy
(b) income generating policy
(c) dear money policy
(d) cheap money policy

ANS (D)

19. The market equilibrium for a commodity is determined by: (SSC Sub. Ins. 2015)

(a) the balancing of the forces of demand and supply for the commodity.
(b) the intervention of the Government.
(c) the market demand of the commodity.
(d) the market supply of the commodity.

ANS (A)

20. “Economies” of a firm are: (SSC Sub. Ins. 2015)

(a) an increase in its profits
(b) its dominance of the market
(c) saving in its production costs
(d) a reduction in its selling expenses

ANS (D)

21. Regarding money supply situation in India it can be said that the: (SSC Sub. Ins. 2015)\

(a) Currency with the public is almost equal to the deposits with the banks.
(b) Currency with the public is inconvertible only.
(c) Currency with the public is more than the deposits with the banks.
(d) Currency with the public is less than the deposits with the banks.

ANS (D)

22. The equilibrium price of a commodity will definitely rise of there is a/an: (SSC Sub. Ins. 2015)

(a) increase in supply combined with a decrease in demand.
(b) increase in demand accompanied by a decrease in supply.
(c) decrease in both demand and supply.
(d) increase in both demand and supply.

ANS (B)

23.Basic problems of an economy is/are (SSC Sub. Ins. 2016)

(a) Providing Social Security and employment to all.
(b) Elimination of poverty and reduction of inequalities of income and wealth.
(c) Providing basic requirements of life to all.
(d) Decide as to what, how and for whom to produce.

ANS (D)

24. Demand curve is indeterminate under (SSC Sub. Ins. 2016)

(a) duopoly
(b) monopoly
(c) pure competition
(d) oligopoly

ANS (D)

25. Marginal Revenue is (SSC Sub. Ins. 2016)

(a) Revenue realized on the sale of an extra units.
(b) Revenue realized from the sale of all units.
(c) The average revenue of a firm.
(d) Revenue realized on every unit sold

ANS (A)

Study Kit For SSC Exam for Sub-Inspectors in Delhi Police & CAPFs, CISF