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Subject Specific Questions (Commerce)

Government Model Sanskriti Senior Schools Eligibility Test Sample Questions Commerce Subject Specific Questions (Commerce)

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Question 1 of 5

1. Question
In which of the following situations will a product have the almost same price in the whole market in the long term?
- A) The product has a few known brands that produce it and also several unknown firms that produce slightly different versions.
- B) There is a single seller and a large number of buyers who buy in different volumes and with different optional features.
- C) The product is homogeneous in functionality, size, colour, etc. and there is no known brand.
- D) The product has many different versions in terms of functionality, size, colour, etc., for customers to choose from.
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Question 2 of 5

2. Question
Which of the following statements is FALSE with respect to Accounting Standard 6?
- A) Depreciation is non cash expense for the business.
- B) Depreciation determines a more correct value of assets of a business.
- C) Depreciation is not charged if a company has maintained its assets well.
- D) Depreciation is not charged on current assets.
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Question 3 of 5

3. Question
Which one of the following can be patented under sections 3 and 4 of the Patent Act 1970?
- A) A discovery that could lead to updates in Darwin's theory of evolution.
- B) A movie that touches upon a new theme in a path-breaking manner
- C) A new device that allows door locks of houses and offices to be ripped apart silently with a laser beam.
- D) A new machine that allows sea-water to be utilized as a fuel in vehicles and machines.
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Question 4 of 5

4. Question
Mr. Khilnani gives his students the following exercise:

In three columns, divide your 24 hours in the day, among sleep, study and entertainment, as per your preference, for regular school days, weekends, summer vacation, exam days. Now repeat the exercise by keeping sleep constant at 8 hours and dividing the remaining time between study and entertainment.

Which of the following concepts would be MOST appropriate to introduce through this hook?
- A) Price-demand-supply relationship
- B) Consumer utility function
- C) Production possibility curve
- D) Consumer budget line
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Question 5 of 5

5. Question
Standard XI student Geeta says, “Minimum support price (MSP) should be
removed; it spoils the free market for agricultural products”. Which of the following topics should the teacher focus on to deepen her understanding?
- A) Assumptions of perfect competition
- B) Excess supply when the price is above market equilibrium
- C) Circular flow of income with agricultural sector highlighted
- D) Interventions needed to link farmers and markets better
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