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Break-Even Point may be explained as that level of sales at which total revenues equal total cost and the net income is equal to zero. (x) Restrictions as to the classes of shares issued by the companies and the issue of shares with disproportionate right are not applicable to private companies. When was the Reserve Bank of India established in India? Stock exchange, 110. Define what is Oligopoly? DOWNLOAD PDF . 3. A co-owner, without the consent of the other co-owners, can transfer his interest to a stranger but a partner is not permitted to transfer his share without the consent of all the partners. (xiii) Investments in the same group of companies can be done without any restrictions. Define what is the full form of NLM? By passing the Industrial Policy Resolutions of 1948 and 1956 and Industries (Development and Regulation) Act of 1951, the State’s sphere in the industrial field increased significantly. When did the first nationalization of banks in India take place? Managerial economics has a close connection with which subjects? Rise. 92. Reference: WomenCo. Economics is the study of how goods and services produced and how they are distributed. When was the food corporation of India established? General Interview Questions 3. 174. 55. Microeconomics and macroeconomics. This type of company is formed mostly when the business is of non-profit making and has the object of promoting social and cultural activities. iii. Two. The types of questions covered are general, behavioral, situational, discipline and experience based. Expanding business through increasing production by acquiring more fixed assets. Since this type of analysis is based on the data from year to year rather than on one data, it is also termed as “dynamic analysis.” The horizontal analysis makes it possible to focus attention on items that have changed significantly during the period under review. 8. Remember that your interview committee will almost certainly consist of people who are not in i. Ans. However, it may be used along with horizontal analysis to make it more effective and meaningful. Microeconomics and macroeconomics. (Debtors acknowledge their dues by creating the document by accepting the bills drawn.). Normal value (price) is that prevails in the long run. No worries! Dividend, 90. Anyone can do that. A Bull, 111. 3. to begin with; if the committee has questions, they'll ask them). Behavioral Interview Questions 4. In both of these forms of organization, shares are not freely transferable and membership in both is confined to friends and relatives. demand for tires produced by MRF Tyres limited is a company demand. Surat E.P.Z. • If a panel interview is part of the second-round interview, be sure to maintain eye contact with everyone on the panel as you answer questions. E.g. Ans. Welcome to EconomicsDiscussion.net! Define what is term demand? Interview Success Package – Multiple fantastic answers to 104 interview questions – basically everything a hiring manager may throw at you. 170. For example, if two persons purchase a car jointly without any idea of giving it for hire, it is a case of co-ownership. Central Rural Sanitation Programme, 128. But in the case of a partnership, a partner possesses the implied authority to act as an agent for other partners and can bind them for his acts in the ordinary course of the business. Price skimming is a method of pricing new products. Ans. Sericulture, 101. (xiv) The public cannot have access to its balance sheet and profit and loss accounts although it is required to file three copies of each with the Registrar of joint stock companies. Define what is the aim of the White Revolution? With the introduction of Five Year Plans in India, the public sector has been given much important role in the economic development of our nation. Define what is the aim of the Blue Revolution? Opportunity cost is also known as transfer cost, displacement cost and alternative cost. Most often the analysis is done by executives and employees of the organization as well as government agencies, which have statutory powers vested in them. Though much progress has been in the investment in public undertakings, there has been a general criticism that the return on investment earned by the public enterprises is low when compared to the return on the investment in private sector units. ii. ii. Define what is Break-Even Point (BEP)? Talk about a … June and January, 107. July 24, 1991, 145. The results of NPV and IRR methods may differ when the projects under evaluation differ in their size, life, and timings of cash flows. If no provision is made in the agreement regarding the duration of the business, it is called partnership at will. ii. Cotton Textile Industry, 83. Giving more satisfaction to customers through after sales services. Goods whose demand decrease when consumers income increases are known as inferior goods. A forecast is a prediction or estimation of a future situation. Hence, criticism against the public undertakings may not be completely justified. 185. Ans. Which was the period of the eighth five-year plan? When was Jawahar Rozgar Yojana launched? How best to define economics? Which is the apex bank for rural credit? 6. 191. Dr. Raja .J. Define what is the name given to the money accumulated by way of illegal transactions without declaring it for tax purposes? Theory of Laissez Faire, 24. It can invite the public to subscribe for its shares and does not impose any of the conditions necessary in the case of a private company and any person competent to contract can become a member. In which year was the first Industrial Policy Resolution passed? Define what is the branch dealing with honey production? Securities and Exchange Board of India, 117. Purchases book (journal) facilitates recording of all credit purchases of merchandise (goods). 3. The word ‘micro’ derived from which language? i. Define what is the branch dealing with flower cultivation? Which body represents India in the International Monetary Fund (I.M.F.)? However, the recent changes in the government regulations requiring business firms to make available more detailed information to the public, though, audited published accounts have considerably improved the position of external analysis. Co-ownership is not always based on agreement, it may arise by the operation of law or from status. MOST IMPORTANT: keep your answers to open‐ended and vague questions CLEAR and CONCISE! Improving quality of products with acquiring the up-to-date machinery. 184. Define what is industry demand? In 1978. Define what is endowment? It is used to Define what? Define what is the full form of NABARD? (iii) Business can be commenced immediately after registration and there is no need for the certificate to commence business. 3 This ebook consists of two parts: - Part I: 80 MBA interview questions and answers (pdf, free download) - Part II: Top 12 tips to prepare for MBA interview 4. Bihar, 147. 1966-69, 41. Ans. Which is the important plantation crop produced in India? Statutory company – A company which is created by a special Act of the Legislature is called a statutory company, and it is governed by the provisions of such an Act. This type of partnership is not found in India and it is mainly prevalent in European countries and the USA. Wheat, gram linseed and mustard, 108. 4. The terms bull, bear and blue ship are associated with which field? In this case, the new product is offered in a sample market. He presented, after a serious thinking, a detailed system of ratio analysis in 1909. 1974-79, 44. Vegetables, Flowers, etc. Iso-quants are equal to product curves. Which are the two crop seasons of India? Define what are they? It takes into account time value of money and is based on cash flows and not accounting profits. Company demand denotes the demand for the product of a particular firm or company. 173. Iso-quant shows the combination of two variable inputs that given the same level output. When was TRYSEM launched in India? Define what is invisible imports and exports? The State Bank of India. This website includes study notes, research papers, essays, articles and other allied information submitted by visitors like YOU. Which is the first E.P.Z. Trade associations, clubs, and societies can be registered in this type. They are of two types, viz., replacement projects and expansion projects. iv. In stock exchange Define what is the name given to the trader who tries to lower the value of shares? It provides for uniform ranking of various proposals due to the percentage rate of return. Two. Share Your Word File The relation of price to sales is known in economics as the demand. 13. Surat E.P.Z. To commence its business, it must have at least three directors and also it should obtain a certificate to commence business, from the Registrar of joint stock companies. Which is the major sources of power in India? Define what is the name given to the fish cultivation? 124. 14. Which technique is mainly used in solving business problems? 116. There is no implied agency between co-owners. 45. Non-profit projects – In these projects, the aim is not to earn profit but the expenditure is incurred to meet the requirements of law of the land, contractual obligations of the Government orders or orders of local authorities, such as safety precautions for employees, provision of welfare measures, research and development projects, pollution control, etc. Browse through the wisdomjobs page to get all the details about the Managerial Economics job vacancies and also find the application process for the same. Answer tip: You should be able to answer this clearly and concisely (aim for three minutes max. 2. Foreign Exchange Regulation Act. Agricultural Development, 37. Most of the companies formed these days are of this type. As a student (or a recent student) this should be the easiest part of the whole process. Advertisement elasticity also is known as “Promotional elasticity” measures the responsiveness of demand to changes in advertising or other promotional expenses. COM Home Economics Job Interview Preparation Guide. These outsiders include investors, creditors, government agencies, potential investors/creditors, and the general public. It is based on the accounting concept of profits, which is readily available hence easy to compute. Reserve price is the price below which a seller is not prepared to sell. “Garibi Hatato” – Remove poverty. 177. Rice, millet, maize, and cotton, 109. It means the cost for fixed factor units used in production. When was IRDP launched in India? Demand is said to be derived when it is tied to the demand for some ‘parent’ product. (a) Replacement Projects – In these projects, the existing fixed assets are replaced by new fixed assets as existing assets are completely worn out or have become obsolete. Define what is the name given to the trade by exchanging one commodity for another? Define what is the branch dealing with the development of worms used for disintegrating organic waste? Moreover, private companies enjoy certain privileges which are not allowed to a public company and this is also one of the reasons for its popularity. If wants are the focus, then of course resources are limited by definition, but if minimum needs or essentials are used as the foundation, then resources are seen to be abundant. Purchases returns book or returns outwards book (journal) facilitates recording of’ purchased merchandise returned’ to suppliers (may be because of damage or not in accordance with specification/quality, etc.). It is used to record any kind of transactions without classifying them into special types. (xii) Provision regarding the issue of further shares first to the existing holders of equity shares does not apply to private companies. Where is the headquarters of the World Bank? Its output is the same as the component it replaces. COM Economics Job Interview Preparation Guide. 3. Integrated Rural Development Programme. Research and development projects for reducing cost and improving quality of products and finding new uses of the product. 1992-97, 48. This type of analysis is done by persons who have access to the books of accounts and other information related to the business. Smt. Oligopoly is a market in which there are few firms selling particular products. Generally, interest on overseas investment, commission on financial transactions, payment for services, expenditure by tourists, government grants overseas, cost of membership of international bodies, etc. Define what was the slogan adopted for the fifth five-year plan? Define what do you mean by the price elasticity of demand? ii. A depreciation of a nation’s currency usually causes Define what to the internal/domestic prices? 1959, 32. iii. I am very self-motivated. The developing countries in Asia, Africa, and South America, 20. Define what is the equilibrium price? 180. When was NABARD set up in India? A journal is classified into two categories based on the purpose for which it is used: General journal is the simplest type of journal book useful for small business enterprises. Answer:-Economics is usually defined as the problem of how best to distribute limited resources, limited because wants are characterized as unlimited, but common sense tells us that rather than limited resources, there is an abundance of … COM Economics Job Interview Preparation Guide. Conservation of Foreign Exchange and Prevention of Smuggling Activities Act. The demand for a thing produced and its sales depend upon some factors. When did the second nationalization of banks take place? iv. May not give correct result while comparing projects with unequal investment of funds. Coal, 139. When there are many firms dealing in a particular product, and when the product of each firm is differentiated by means of brand names and trademarks, it is called product differentiation. In 1975, 122. Television set, Refrigerator. Ratio analysis is one of the techniques of financial analysis where ratios are used as a yardstick for evaluating the financial condition and performance of a firm. Rolling Plan, 47. 198. Which is the famous book on Economics written by Adam Smith? Charles T. Horngreen defines capital budgeting as “long-term planning for making and financing proposed capital outlays.”, According to Lynch, “Capital budgeting is planning development of available capital for the purpose of maximizing the long term profitability of the concern.”. 46. Going rate pricing in many cases results in “following the leader” without anyone knowing the identity of the price leader. It is simple to understand and easy to compute. When interviewing managers, most interviewers will focus on two distinct aspects of the managerial experience—whether you get results and how well you deal with people. 69. Who was the Prime Minister of India when the first nationalization of banks took place in India? It deals with the analysis of small units of the economy, such as individual consumers, firms, individual prices, individual industries, etc.. 6. 168. Bills receivable book (journal) facilitates recording of bills drawn on the customers for the amount ‘due by them’. In the case of inferior goods, people buy more of such good when their price rises. Export-Import Bank of India, 79. Increase of Milk production, 96. Define what is the popular name of White Revolution? TOS4. We’re going to cover the most common interview questions and answers, turning you into a bona fide interview expert by the time you’re done reading. Vertical analysis is also called as “static analysis” as it is frequently used for referring to ratios developed on one date or for one accounting period. v. It is a more reliable technique of capital budgeting. Answer:-In assessing students, I make use of different methods. When was National Literacy Mission launched? NABARD, 77. Define what was the priority given to the second five-year plan? Sikkim, 134. Apiculture, 102. Define what is the full form of RFLP? Focus instead on your history with that Ans. Plan allocation, 49. It can be defined as the application of mathematical techniques in solving the business problem. "What Is Your Greatest Strength?" Got an interview coming up where you’re applying for the role of a Economist? Define what is the full form of IDBI? Define what do you mean by income elasticity of demand? To comply with certain social objectives like acquisition of a pollution control devices, etc. Which is the apex bank for industrial finance in India? Prime Minister, 34. Who are all the members of The National Development Council? (i) Only two members are sufficient to form a private company. Projects meant for the welfare of the workers and sales promotion and research schemes come under this category. This method gives the management considerable insight into the levels and areas of strengths and weaknesses. This implies that the forecasting made should hold good over a period. Economics Interview Questions and Answers! 2. 68. of India? When was the Reserve Bank of India nationalized? Nehru Rozgar Yojana. By: Kathleen Gaines. 5. Companies which may be registered under the Companies Act are as follows: i. 120 Latest Selenium Hybrid Framework Interview Questions And Answers, 125 Top C# Interview Questions Dot Net Tricks, 125 Top C Programming Multiple Choice Questions and Answers. According to this method, the firm adjusts its own price policy to the general pricing structure in the industry. Primary sector refers to which field in India? (b) Expansion Projects – In these projects, new fixed assets are acquired to augment existing facilities so as to increase the productive capacity. in private sector in India? 153. 1952, 59. Reserve Bank of India, 63. A co-owner has no lien on the joint property; whereas a partner being an agent of other partners has a lien on the partnership property. This an exception to the law of demand. This is the General Knowledge Questions & Answers section on & Business Economics& with explanation for various interview, competitive examination and entrance test. 155. demand for tires produced by all tire companies in India is the Indian tires industry demand. A focus on wants or desires describes a market situation, while a focus on essentials or needs allows an explanation of choices to begin. It cannot be applied in projects where investments are made in parts or at different time periods. Pisciculture, 99. 176. Define what are Producers goods? Define what is the name given to the profit from debenture? This type of analysis is useful in comparing the performance of several companies in the same group, or divisions/departments in the same company. It is for the preparation of Economics. Basically, it is a Japanese dish which consists of fresh meat or fish, sliced into thin pieces. 11. Define what is the name given to the condition when talented men leaving their own country for lack of opportunities and facilities and going to other countries for better conditions? Define what are durable goods? Further, any expenditure incurred which tends to extend or improve existing fixed assets, so as to increase the profitability of a concern by increasing production or reducing cost of production beyond one year may rightly be called capital expenditure. Define what is product differentiation? The classification is presented here: Financial analysis can be of the following two types: This type of analysis is generally done by the outsiders of the business, as they do not have access to the detailed internal accounting records of the business firm. Development of Women and Children in Rural Areas, 125. Alexander Wall is considered to be a pioneer of ratio analysis. Define what is the name given to the talk between rich countries and poor countries? Define what are the major rabi crops? In October and April, 106. The National Development Council, 33. Who is the chairman of the National Development Council? Interview Question # Q.1. A co-ownership is created if a man dies leaving his property to his sons, whereas a partnership must arise by an agreement, express or implied. Define what is the name given to the sudden increase of agriculture output? For example goods like cigarettes, pan, etc. Define what was the name given to the plan started by the Janatha party? Define what is the name given to the profit from shares? Eight. Why the talk between rich countries and poor countries called ‘North-South Dialogue’? 1950, 30. Who was the first chairman of the Planning Commission of India? In this two price system, a part of the output is sold at a fixed price and the remaining part of the output is sold freely in the market. Answer:-Economics is usually defined as the problem of how best to distribute limited resources, limited because wants are characterized as unlimited, but common sense tells iii. 157. Define what is long term demand? Bihar, 146. Agriculture, 132. Integrated Rural Energy Programme, 129. It recognizes time value of money and considers cash flows over a period of several years. The State’s investment in public undertakings, which was very negligible in 1951, has increased to about Rs.2, 287 crores in 1962-63 and to Rs.5, 137 crores in 1969-70. 5. Ans. Companies with unlimited liability – In an unlimited company, the liability of members is unlimited as in the case of individual proprietorship and members can be called upon to pay unlimited amount to discharge in full the debts and liabilities of the company when it is wound up. (c) Prohibits an invitation to the public to subscribe to its shares and debentures. Define what is the name given to the illegal way of bringing foreign currency to India? iii. To facilitate easy identification, the transactions are classified into eight categories and recorded in the special category of journal books. Again, retirement, death, or bankruptcy of a special partner does not dissolve the partnership. 162. Demand forecasting enables a firm to avoid overproduction or underproduction. But the advantage of limited liability in the case of a private company induces many businessmen to resort to this form of organization rather than partnership. The following can be the various types of capital expenditure: 1. 189. Economics Interview Questions And Answers Global Guideline . Sales book (journal) facilitates recording of all credit sales of merchandise (goods). Interest. We do not claim our questions will be asked in any interview you may have. You’ll be … In this book all other transactions, other than the ones already recorded in the above-mentioned seven books are recorded. Prepared by: Department of Economics & Economics Leadership Council Prepare for Difficult Interview Questions (1)Tell me about yourself a. Capital expenditure can also be classified in another way: 1. On which basis the Planning Commission defined the poverty line? Coal, 138. A co-owner can demand division of the property in specie but in the case of partnership, such demand is not allowed. The long term demand for products is influenced by changes in long term factors such as changes in technology, the arrival of substitutions, influence in population, etc. Define what is the full form of EXIM? Define what is differential pricing? 159. The rate at which demand changes when price changes are known as elasticity of demand. Interview questions and answer examples and any other content may be used else where on the site. It is known as the non-profit no-loss point. Suppose a house is owned by two persons, in the case of co-ownership, a co-owner can demand dividing the house into two portions, but in the case of a partnership, a partner can have only cash in repayment of his share of capital.

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