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Question (1)

QN0031228

A seller brings 100 kg of tomatoes to the market and fixes a very high price. Only 30 kg are sold by evening. What is the most likely reason?

(A) Demand exceeded supply
(B) Buyers found the price too high
(C) The quality was excellent
(D) There were no buyers in the market

Correct Answer: B

Explanation:

Very high prices discourage buyers, reducing demand and resulting in unsold stock.

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Question (2)

QN0031229

A retailer buys rice from a wholesaler at ₹40 per kg and sells it at ₹48 per kg. If he sells 50 kg, what is his total earnings above purchase cost?

(A) ₹300
(B) ₹350
(C) ₹400
(D) ₹450

Correct Answer: C

Explanation:

Profit per kg = ₹48 − ₹40 = ₹8; Total profit = 50 × ₹8 = ₹400.

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Question (3)

QN0031230

Which situation best represents an international market?

(A) A farmer selling vegetables in a village haat
(B) A company in India exporting software services to the USA
(C) A retailer buying goods from a wholesaler in Delhi
(D) A consumer shopping in a mall

Correct Answer: B

Explanation:

International markets involve trade across national boundaries.

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Question (4)

QN0031231

A factory producing plastic bags causes pollution in nearby areas. Which role of the government is highlighted here?

(A) Providing public goods
(B) Regulating negative effects of markets
(C) Promoting exports
(D) Increasing demand

Correct Answer: B

Explanation:

Government intervenes to reduce harmful environmental impacts caused by markets.

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Question (5)

QN0031232

A wholesaler purchases 2,000 packets of biscuits from a manufacturer and supplies them to 100 shops. What is the main function being performed?

(A) Retailing
(B) Consumption
(C) Bulk distribution
(D) Advertising

Correct Answer: C

Explanation:

Wholesalers buy goods in bulk and distribute them to retailers.

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Question (6)

QN0031233

A consumer wants to buy an energy-efficient air conditioner. Which certification should be checked?

(A) AGMARK
(B) FSSAI
(C) BEE Star Rating
(D) ISI only

Correct Answer: C

Explanation:

BEE Star labels indicate the energy efficiency of electrical appliances.

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Question (7)

QN0031234

A fruit seller lowers the price of mangoes late in the evening. Why is this likely to happen?

(A) Demand has increased
(B) The fruits are perishable and may spoil
(C) Supply has reduced
(D) Government ordered price reduction

Correct Answer: B

Explanation:

Sellers reduce prices to avoid losses on unsold perishable goods.

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Question (8)

QN0031235

A customer buys a mobile phone through an app without meeting the seller. This is an example of

(A) Physical market
(B) Wholesale market
(C) Online market
(D) Weekly market

Correct Answer: C

Explanation:

Buyers and sellers transact virtually in online markets.

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Question (9)

QN0031236

A retailer purchased 80 shirts at ₹500 each and sold all at ₹650 each. What is the total profit?

(A) ₹10,000
(B) ₹12,000
(C) ₹15,000
(D) ₹20,000

Correct Answer: B

Explanation:

Profit per shirt = ₹650 − ₹500 = ₹150; Total profit = 80 × ₹150 = ₹12,000.

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Question (10)

QN0031237

Which of the following is most likely to be provided by the government as a public good?

(A) Mobile phones
(B) Jewellery
(C) Public parks
(D) Television sets

Correct Answer: C

Explanation:

Public goods are available to all and are generally provided by the government.

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Question (1)

A seller brings 100 kg of tomatoes to the market and fixes a very high price. Only 30 kg are sold by evening. What is the most likely reason?

Explanation:

Link:

Question (2)

A retailer buys rice from a wholesaler at ₹40 per kg and sells it at ₹48 per kg. If he sells 50 kg, what is his total earnings above purchase cost?

Explanation:

Link:

Question (3)

Which situation best represents an international market?

Explanation:

Link:

Question (4)

A factory producing plastic bags causes pollution in nearby areas. Which role of the government is highlighted here?

Explanation:

Link:

Question (5)

A wholesaler purchases 2,000 packets of biscuits from a manufacturer and supplies them to 100 shops. What is the main function being performed?

Explanation:

Link:

Question (6)

A consumer wants to buy an energy-efficient air conditioner. Which certification should be checked?

Explanation:

Link:

Question (7)

A fruit seller lowers the price of mangoes late in the evening. Why is this likely to happen?

Explanation:

Link:

Question (8)

A customer buys a mobile phone through an app without meeting the seller. This is an example of

Explanation:

Link:

Question (9)

A retailer purchased 80 shirts at ₹500 each and sold all at ₹650 each. What is the total profit?

Explanation:

Link:

Question (10)

Which of the following is most likely to be provided by the government as a public good?

Explanation:

Link:

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