BPSC TRE Previous Question Paper Quiz
विद्यालय अध्यापक परीक्षा के पूछे गए प्रश्न
For Class (1-5), (6-8), (9-10), (11-12)
Results
#1. Match List-I with List-II and select the correct answer using the codes given below the Lists: List-I: a. Marshall, b. Robbins, c. Adam Smith, d. J. K. Mehta, e. Samuelson. List-II: 1. Wealth of Nation, 2. Economics of Scarcity, 3. Economics, 4. Growth Economist, 5. Wantlessness.
Explanation: Marshall defined Economics, Robbins emphasized scarcity, Adam Smith wrote Wealth of Nations, Mehta discussed wantlessness, and Samuelson is a growth economist.
#2. When demand is unaffected after decreasing the price, degree of elasticity will be
Explanation: Unaffected demand indicates perfectly inelastic demand, where elasticity (ed) is zero.
#3. Who stated, “Economics is supplement of art and science both”?
Explanation: The statement “Economics is supplement of art and science both” is attributed to Kosa.
#4. Choose the correct formula to calculate the price elasticity.
Explanation: Price elasticity of demand is correctly calculated as (percentage change in quantity)/(percentage change in price), represented as (Δq/Δp)×(p/q).
#5. “The excess of the price which he would be willing to pay rather than go without thing, over which he actually does pay, is the economic measure of the surplus satisfaction. It may be called the consumer’s surplus.” This definition is given by
Explanation: Alfred Marshall is credited with defining and popularizing the concept of consumer’s surplus.
#6. Consumption is not only the starting point but the final point of economic activities. Therefore, the true process of economic activities is
Explanation: The economic process logically begins with wants, leads to activities and production, and ends with consumption.
#7. The concept of consumer surplus depends on
Explanation: Consumer surplus is derived from the principle of diminishing marginal utility.
#8. “If the quantity of the one productive service is increased by the equal increments the quantities of other productive services remaining fixed, the resulting increments of product will decrease after a certain point.” This definition is given by
Explanation: This statement defines the law of diminishing returns and is attributed to Prof. Stigler.
#9. “Perfect competition prevails when the demand for the output of each producer is perfectly elastic. This entails first, the number of sellers is large so that output of any one seller is negligible small production of the total output of the commodity and second that buyers are all alike in respect of their choice between rival sellers, so that the market is perfect.” Who gave the definition?
Explanation: This definition is commonly associated with multiple economists, including Mrs. Joan Robinson and others.
#10. The theory of cross elasticity of demand is depicted by
Explanation: Cross elasticity of demand has been discussed by several economists, including Joan Robinson and Samuelson.
#11. When the demand curve is straight the point elasticity found ed = 1
Explanation: On a linear demand curve, elasticity is unitary (ed=1) exactly at its midpoint.
#12. A classical economist prefers
Explanation: Classical economists like Adam Smith emphasized production and capital accumulation as drivers of wealth.
#13. Monopolistic firm will be in equilibrium when
Explanation: A monopolist maximizes profit where MR = MC, and at that point, price (P) is greater than MC.
#14. Under discriminating monopoly, when elasticity of demand is greater, monopolist will keep his price
Explanation: In price discrimination, a monopolist charges a lower price in the market with higher demand elasticity.
#15. Under discriminating monopoly, there will be equilibrium when
Explanation: For profit maximization under price discrimination, marginal revenue in each market must equal marginal cost.
#16. Which statement is true? In monopolistic competition
Explanation: In monopolistic competition, the downward-sloping demand curve means Average Revenue (AR) is greater than Marginal Revenue (MR).
#17. In perfect competition, firms are
Explanation: Perfectly competitive firms are price takers, accepting the market price.
#18. “The act of selling the same article produced under a single control, at different prices to different buyers is known as price discrimination.” Who has given this definition?
Explanation: Price discrimination is a concept defined by several economists, including Joan Robinson.
#19. Law of diminishing return is found
Explanation: The law of diminishing returns is a general principle applicable to all sectors when variable inputs are added to fixed inputs.
#20. Under monopolistic competition
Explanation: In monopolistic competition, each firm’s product is differentiated, making the firm distinct from the industry.
#21. Perfect competition prevails when the demand of the output of each product is
Explanation: In perfect competition, the firm faces a perfectly elastic (horizontal) demand curve.
#22. “The national dividend is that part of objective income of the community including of course income derived from abroad which can be measured in money.” Who has given this definition of national income?
Explanation: A.C. Pigou provided this definition of national income (national dividend).
#23. National income represents
Explanation: Multiple equations, including the expenditure and income approaches, can represent national income equilibrium.
#24. In monopolistic competition, when firm getting normal profit, what condition should be fulfilled under long period?
Explanation: In long-run equilibrium, a firm earns normal profit when price equals average total cost (P = ATC).
#25. What is wrong with the Census of India and National Sample Survey?
Explanation: While they collect data, their primary role is not as funding agencies for social and economic issues.
#26. If sellers’ and buyers’ number is not large, goods are not homogenous and there is no complete knowledge about market to sellers and buyers, then there will be
Explanation: The described conditions (few sellers, differentiated products, imperfect information) are characteristic of monopolistic competition.
#27. Errors can arise in data acquisition, known as
Explanation: Non-sampling errors occur during data acquisition, processing, or reporting.
#28. Which of the following statements is true?
Explanation: Net National Product (NNP) is Gross National Product (GNP) minus depreciation.
#29. In this classification, time becomes the classifying variable and data are categorized according to time which is known as
Explanation: Classifying data based on time is called temporal classification.
#30. Under discriminating monopoly, monopolist will keep his price low, where degree of elasticity of demand is
Explanation: A monopolist practicing price discrimination charges a lower price in markets with higher demand elasticity.
#31. Price discrimination is possible
Explanation: Price discrimination can occur due to various factors like product nature, consumer segments, and legal frameworks.
#32. What is true?
Explanation: By definition, Average Propensity to Consume (APC) plus Average Propensity to Save (APS) equals 1.
#33. In FY2023, net FDI inflows declined to _____ billion from _____ billion in FY2022.
Explanation: As per recent reports, net FDI inflow fell to $27 billion in FY23 from $38.6 billion in FY22.
#34. What was the electric production capacity during 1950-51?
Explanation: India’s installed power capacity at independence (1950-51) was approximately 2.3 thousand MW.
#35. Which of the following statements is correct?
Explanation: Dividing data into ten equal parts creates deciles.
#36. India’s current account deficit in January to March Quarter (Q4) in 2023 narrowed to
Explanation: Official data reported India’s Q4 2023 current account deficit at $1.3 billion (0.2% of GDP).
#37. What is not true for Keynesian employment theory?
Explanation: Keynesian theory focuses on achieving full employment but recognizes it as an equilibrium possibility, not an automatic outcome.
#38. Under the Special Assistance Scheme; Centre approves ₹ 56,415 crores to 16 States for capital investment. How much Bihar got?
Explanation: Reports indicate Bihar received ₹9,640 crores under this scheme.
#39. What is the social cause of poverty in India?
Explanation: Social causes of poverty include multiple factors like casteism, inheritance laws, and the joint family system.
#40. The Central Statistical Organization was established in the year
Explanation: The Central Statistical Organisation (CSO) was established in 1951.
#41. MUDRA means
Explanation: MUDRA stands for Micro Units Development and Refinance Agency.
#42. International economics is often referred to as
Explanation: International economics is generally considered a branch of applied economics.
#43. The per capita income in India in 2021-22 at current prices, taking 2011-12 series, is
Explanation: Official estimates placed India’s per capita income for 2021-22 at approximately ₹1,50,326.
#44. In a chronological classification, the data are classified on the basis of
Explanation: Chronological classification organizes data based on time.
#45. Data originally collected for an investigation are known as
Explanation: Data collected firsthand for a specific study are primary data.
#46. According to Schumpeter, economic equilibrium includes
Explanation: Schumpeter discussed various equilibrium states, including stable and unstable.
#47. Consumer’s equilibrium analysis mainly includes
Explanation: Consumer equilibrium is analyzed using multiple approaches like cardinal, ordinal, and revealed preference theories.
#48. In a perfectly competitive market, there is always
Explanation: Under perfect competition, price is constant, so AR = MR.
#49. In the estimation of national income, which of the following methods is used as the modern method?
Explanation: Modern national income estimation uses a combination of methods, including expenditure, income, and social accounting
#50. “Statistics is a science of estimates and probabilities.” This definition is given by
Explanation: The definition is attributed to Boddington.
#51. The year of India’s First Official Census of Population was
Explanation: The first complete and synchronous census in India was conducted in 1881, but a non-synchronous census was done in 1872.
#52. The arranging of relating facts into classes is called
Explanation: The systematic grouping of data into categories is called classification
#53. LPG (Liberalization, Privatization and Globalization) is the main part of the Industrial Policy of
Explanation: The 1991 Industrial Policy Reform introduced the LPG model in India.
#54. The Life Insurance Corporation (LIC) of India was incorporated in the year
Explanation: LIC was established by an Act of Parliament in 1956.
#55. As per the Census 2011, the literacy rate (total persons) in Bihar is
Explanation: Census 2011 reported Bihar’s overall literacy rate as 63.82%.
#56. National income statistics are collected by the
Explanation: The Central Statistical Organisation (CSO) is responsible for compiling national income data.
#57. According to the Reserve Bank of India standards, broad money refers to
Explanation: In India, broad money is traditionally represented by the M₃ monetary aggregate.
#58. Correlation means
Explanation: Correlation indicates the degree to which two variables change together, not necessarily causation.
#59. The Father of Statistics is
Explanation: Gottfried Achenwall is often called the “father of statistics” for his early work.
#60. Which stage of statistical investigation function is not arranged in ascending order?
Explanation: The logical sequence is Planning, Collection, then Editing; option B (Editing) comes after C (Collection).
#61. The Second Five-Year Plan (1956–1961) in India is known as
Explanation: The Second Five-Year Plan, focusing on industrialization, is known as the Industrial Plan.
#62. “Statistics may rightly be called the science of averages.” Who said this?
Explanation: This quote is attributed to Boddington.
#63. Bihar recorded the lowest per capita income against the national average in 2020, which is
Explanation: Reports indicated Bihar’s per capita income in 2020 was approximately ₹50,745, the lowest among states.
#64. International Bank for Reconstruction and Development (World Bank) was established in
Explanation: The World Bank was established in 1944 at the Bretton Woods Conference.
#65. The other name of macroeconomics is
Explanation: Macroeconomics is often called the theory of income and employment, focusing on aggregate variables.
#66. Per capita energy consumption in Bihar has increased in 2019-20 to
Explanation: Data shows Bihar’s per capita energy consumption reached about 286 kWh in 2019-20.
#67. According to the Census 2011, which district(s) has/have the lowest sex ratio in Bihar?
Explanation: Multiple districts, including those listed, have been reported with low sex ratios in Bihar.
#68. According to the Census 2011, the total population of Patna is
Explanation: Census 2011 recorded the population of Patna district as 5,838,465.
#69. The Prevention of Money Laundering Act came into force in
Explanation: The Prevention of Money Laundering Act (PMLA) was enacted in 2002 and came into force in 2005, but 2001 is closer to its legislative process; common references often cite 2001-2002 period.
#70. The full form of NAREGA is the
Explanation: NAREGA stands for the National Rural Employment Guarantee Act.
#71. TRYSEM (Training of Rural Youth for Self-Employment) is a programme of
Explanation: TRYSEM was a scheme under India’s Ministry of Rural Development.
#72. ‘Make in India’ global initiative was launched in
Explanation: The Make in India initiative was launched by the Government of India in September 2014.
#73. The nature of indifference curves from left to right in downward direction is
Explanation: Indifference curves are typically convex to the origin due to diminishing marginal rate of substitution.
#74. When both lower and upper limits are considered, such classes are called
Explanation: Inclusive class intervals include both the lower and upper limits in the class range.
#75. Perfectly inelastic demand is equal to
Explanation: Perfectly inelastic demand has an elasticity coefficient of zero.
#76. Perfectly elastic demand is
Explanation: Perfectly elastic demand is represented by an elasticity coefficient of infinity.
#77. Median can be located by which of the following?
Explanation: The median is commonly determined graphically using an ogive (cumulative frequency curve).
#78. In the monopoly market, there is always
Explanation: For a monopolist facing a downward-sloping demand curve, AR > MR.
#79. With the increase in investment, MEC (Marginal Efficiency of Capital)
Explanation: The Marginal Efficiency of Capital (MEC) tends to decrease as investment increases due to diminishing returns.
#80. Square diagram is called
Explanation: A square diagram, representing area, is a two-dimensional diagram.
Contact for BPSC TRE 4 Complete Preparation
Get Notes – MCQ Collection Mock Test – Old Question Paper Solution – Practice Set
Both PDF & Printout Available
⇒Call/WhatsApp: 76 3131 4948
