Tag Archives: economics branches






Economics Questions and Answers – Part10

181. What is opportunity cost? Opportunity cost is also known as transfer cost, displacement cost and alternative cost. When the cost is measured by the value of the most valuable alternative commodities that could have been produced by those resources, it is called opportunity cost. 182. What is fixed cost or supplementary cost? It means

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Economics Questions and Answers – Part9

161. What are derived demand? Demand is said to be derived when it is tied to the demand for some ‘parent’ product. 162. What are autonomous demand? When the demand for a commodity is entirely independent of demand for any other commodities it is autonomous demand. 163. What are industry demand? Industry demand means the

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Economics Questions and Answers – Part8

141. When was the National productivity Council started? 1958 142. In which year was the first Industrial Policy Resolution passed? 1948 143. Which is the important plantation crop produced in India? Rubber 144. When was the New Industrial Policy announced? July 24, 1991 145. Where in India are the largest deposits of Uranium found? Bihar

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Economics Questions and Answers – Part7

121. When was TRYSEM launched in India? In 1975 122. What is the full form of NRY? Nehru Rozgar Yojana 123. When was Jawahar Rozgar Yojana launched? In 1989. 124. What is the full form of DWCRA? Development of Women and Children in Rural Areas 125. What is the full form of ICDS? Integrated Child

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Economics Questions and Answers – Part6

101. What is the branch dealing with honey production? Apiculture 102. What is the branch dealing with the development of forests? Silviculture 103. What is the branch dealing with the development of worms used for disintegrating organic waste? Vermiculture 104. Which are the two crop seasons of India? Rabi and Kharif 105. When are the

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Economics Questions and Answers – Part1

This is the Part 1 general knowledge questions and answers section on “Economics” with explanation for various interview, competitive examination and entrance test. Solved examples with detailed answer description, explanation are given and it would be easy to understand.  1. What is Economics? Economics is the study of how goods and services produced and how

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