In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium. The theory was developed by the French economist Leon Walras. It stands in contrast with partial equilibrium theory, or Marshellian partial equilibrium, which only analyzes specific markets.
Q5. Which of the following is not true about a Demand Draft?
निम्लिखित में से कौन सा डिमांड ड्राफ्ट के सन्दर्भ में सही नहीं है?
(a) It is a negotiable instrument./ यह एक परक्राम्य लिखित है |
(b) It is a banker’s cheque./ यह एक बैंकर्स चेक है |
(c) It may be dishonoured for lack of funds./ यह धन के अभाव के कारण अस्वीकृत किया जा सकता है |
(d) It is issued by a bank./ यह बैंक द्वारा जारी किया जाता है |
Both the Cheque and Demand Draft are used for the purpose of payments because it is not always possible to give the money in cash. A cheque is a negotiable instrument instructing a bank to pay a specific amount from a specified account held in the issuer of the cheque/depositor’s name with that bank. A demand draft, also commonly known as DD, is a kind of a pre-paid negotiable instrument used for effecting the transfer of money. It is almost equal to a banker’s cheque that is used to make payments. A cheque may be dishonoured for lack of funds but a Demand Draft cannot be returned because it is a pre-paid instrument.
Q6. Who administers the oath of the President of India?
भारत के राष्ट्रपति पद के लिए कौन शपथ दिलाता है?
(a) Governor General of India/ भारत के गवर्नर जेनरल
(b) Chief Justice of India/ भारत के मुख्या न्ययाधी
(c) Prime Minister of India/ भारत के प्रधानमंत्री
(d) Vice President of India/ भारत के उप-राष्ट्रपति
The President is required to make and subscribe in the presence of the Chief Justice of India (or in his absence, the senior-most Judge of the Supreme Court), an oath or affirmation that he/she shall protect, preserve and defend the Constitution.
Q7. The ________ balance is the sum of the balance of merchandise trade, services and net transfers received from the rest of the world.
_________शेष सौदा व्यापार, सेवाओं और शेष विश्व से प्राप्त निवल अंतरण का योग होता है |
The difference between a nation’s savings and its investment. The current account is an important indicator about an economy’s health. It is defined as the sum of the balance of trade (goods and services exports less imports), net income from abroad and net current transfers.
Q8. The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________function.
किसी वस्तु की मात्र के लिए उपभोक्ता का इष्टतम चयन तथा उसकी कीमत में सम्बन्ध अत्यंत महत्वपूर्ण हैं तथा यह सम्बन्ध ________ फलन कहलाता है |
Demand is the consumer’s need or desire to own the product or experience the service. It’s constrained by the willingness and ability of the consumer to pay for the good or service at the price offered.Demand is the underlying force that drives everything in the economy.
Q9. “Reserve Bank of India” is listed in the __________ list given in the Seventh Schedule in the Constitution of India.
“भारतीय रिज़र्व बैंक” भारत के संविधान की सातवीं अनुसूची में दी गयी__________सूची में सूचीबद्ध है |
The Union List or List-I is a list of 100 items (the last item is numbered 97) given in Seventh Schedule in the Constitution of India on which Parliament has exclusive power to legislate. Reserve Bank of India comes under the Union list.
Q10. In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.
________में आपातकालीन संतुलन के परिणामस्वरूप पूर्ण प्रतिस्पर्धा की तुलना में उत्पादन की मात्र कम होती है |
The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve. The average product curve illustrates how average product is related to a variable input. Its shape is like an inverted U.
Q12. “Bankruptcy and insolvency” is listed in the __________ list given in the Seventh Schedule in the Constitution of India.
“दिवालियापन और दिवाला” भारत के संविधान की सातवीं अनुसूची में दी गयी _______सूची में सूचीबद्ध है |
The Presidency Towns Insolvency Act of 1909 covering Kolkata, Chennai and Mumbai and the Provincial Insolvency Act, 1920 for the rest of India, were enacted to regulate the insolvency law. The Acts applied to individuals and partnerships but it exempted corporations from its ambit. After the independence, bankruptcy and insolvency were specified in Entry 9 of the Concurrent List of the Seventh Schedule, under Article 246 of the Constitution.