B:-1948
C:-1956
D:-1930
Correct Answer:- Option-B

Question38:-The principle of insurance by which the rights and remedies of the insured is transferred to the insurer who has
indemnified the insured is known as

subrogation
:-indemnity
C:-contribution
D:-causaproxima
Correct Answer:- Option-A
Question39:-HTTP in e-commerce stands for
A:-Hyper text transfer protocol
B:-Highly technical text protocol
C:-high tariff and trade protocol
D:-harmful text transfer protocol
Correct Answer:- Option-A
Question40:-sufficient balance in the bank account of the card holder is necessary to make transactions using
A:-debit card
B:-credit card
C:-Both debit card and credit card
D:-none of these
Correct Answer:- Option-A
Question41:-Who emphasised the view that economics is a positive science?
A:-Lionel Robbins
B:-Alfred Marshall
C:-Paul A. Samuelson
D:-Adam Smith
Correct Answer:- Option-A
Question42:-In the concept of economics as a science of choice making, created choice.
A:-Abundance of resources
B:-Urgency of needs
C:-Non-availability of resources
D:-Scarcity of resources
Correct Answer:- Option-D

Question43:-Which among the following is the branch of economic theory that deals with the problem of allocation of
resources?

A:-Macro economic theory
B:-Micro economic theory
:-Econometrics
D:-None of the above
Correct Answer:- Option-B
Question44:-Freedom of choice is the advantage of
A:-Mixed economy
-Socialism
C:-Capitalism
D:-Communism
Correct Answer:- Option-C
Question45:-Demand for a good will tend to be more elastic if it exhibits which of the following characteristics?
A:-It represents a small of the consumer's income
-It is a necessity as opposed to a luxury
C:-The good has many substitutes available
D:-There is a little time for the consumer to adjust to the price change
Correct Answer:- Option-C
Question46:-Total utility is at the maximum point when:
A:-Marginal utility is zero
B:-Marginal utility is at its highest point
C:-Marginal utility is equal to average utility
D:-Average utility is maximum