Dear Students, Intelligence Bureau ACIO Exam 2017 Will be conducted on 15th October 2017. Not much time left for the preparation. At Adda247, we are providing questions for General Awareness section. Today, in this quiz we shall study Economics Questions for IB ACIO Exam, Study and Score great marks in the Exam. We wish you all the very best for the exam.
Q1. What will happen if labour productivity is increased?
(a) Balanced cash wage will decrease
(b) Competitive firms will be forced to invest more
(c) Labour demand curve will shift towards right
Q2. Rent is a cost paid for–
(a) Land
(b) Restaurant
(c) Building
(d) Factory
Q3. With which form of economy is the term ‘Laissez-Faire’ associated?
(a) Capitalist Economy
(b) Socialist Economy
(c) Mixed Economy
(d) Command Economy
Q4. Price theory is also known as–
(a) Macro Economics
(b) Development Economics
(c) Public Economics
(d) Micro Economics
Q5. Core industries are–
(a) Basic Industries
(b) Consumer Goods Industries
(c) Capital Goods Industries
(d) Government Industries
Q6. Which of the following concepts are most closely associated with JM Keynes?
(a) Control of money supply
(b) Marginal utility theory
(c) Indifference curve analysis
(d) Marginal efficiency of capital
Q7. Which of the following is not an economic problem?
(a) Deciding between paid work and leisure
(b) Deciding between expenditure on one good and the other
(c) Deciding between alternative methods of personal saving
(d) Deciding between different ways of spending leisure time
Q8. What are the main components of basic social infrastructure of an economy?
(a) Education, Industry and Agriculture
(b) Education, Health and Civil Amenities
(c) Transport, Health and Banks
(d) Industry, Trade and Transport
Q9. The Economic development depends on–
(a) Natural resources
(b) Capital formation
(c) Size of the market
(d) All of these
Q10. ‘Hire and Fire’ is the policy of–
(a) Capitalism
(b) Socialism
(c) Mixed economy
(d) Traditional economy
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