Question Set

1. Statement: Should the oil companies be allowed to fix the price of petroleum products depending on market conditions? Arguments: Yes. This is the only way to make the oil companies commercially viable. No. This will put additional burden on the retail prices of essential commodities and will cause a lot of hardships to the masses.






Ask Your Doubts Here

Type in
(Press Ctrl+g to toggle between English and the chosen language)

Comments

  • By: guest on 02 Jun 2017 01.29 am
    Clearly, oil is an essential commodity and its prices govern the prices of other essential commodities. As such, the interest of the common people must be taken care of, rather than the profitability of some oil companies. So, only argument II holds strong.
Show Similar Question And Answers
QA->A statement followed by two assumptions I and II is given. You have to consider the statement to be true even if it seems to be at variance from commonly known facts. You are to decide which of the given assumptions can definitely be drawn from the given statement. Indicate which one of the four given alternatives is correct ? Statement : If more encouragement is given to Sports, Indians will win more gold medals at the Olympic Games. Assumptions : I. Indians do not win gold medals. II. More enc....
QA->Ram bought a Bag at 20% discount on its original price. He sold it with 40% increase on the price he bought it. The new price is by what percent more than the original price....
QA->In order to attract fresh investment in manufacturing and thereby provide boost to ‘Make-in-India’ initiative of the Government, new domestic manufacturing companies incorporated after October 1, has been allowed to pay income tax at a rate of ___ per cent without any incentives?....
QA->The Direct Tax Code (DTC) task force has recommended a major cut in corporate tax for both domestic and foreign companies. What is the newly recommended corporate tax rate for both domestic and foreign companies?....
QA->….is the market value of all products and services produced in one year by labour and property supplied by the-residents of a country?....
MCQ->Statement: Should the oil companies be allowed to fix the price of petroleum products depending on market conditions? Arguments: Yes. This is the only way to make the oil companies commercially viable. No. This will put additional burden on the retail prices of essential commodities and will cause a lot of hardships to the masses.

....
MCQ->Statement: There has been unprecedented increase in the prices of essential commodities during the past few days due to the strike call given by the transporters association. Courses of Action: The transporters' association should be ordered by the government to immediately withdraw strike call or else they will face severe consequences. The government should immediately make alternative arrangements to ensure adequate supply of essential commodities in the market. The government should immediately declare the strike illegal and put all those responsible for the strike behind the bars.

....
MCQ->Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives. Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. Selling a commodity at a price that is not more than that charged by competitors is....
MCQ->The government has powers under the Essential Commodities Act, 1955 (EC Act) to declare a commodity as an essential commodity to ensure its availability to people at fair price. The Commodities covered under the Act include : 1.Paper 2.Hank Yarn 3.Fertilizers 4.Petroleum and Petroleum Products 5.Cotton and Jute seeds?....
MCQ->Statements: "The Government will review the present policy of the diesel price in view of further spurt in the international oil prices". - A spokesman of the Government. Conclusions: The Government will increase the price of the diesel after the imminent spurt in the international oil prices. The Government will not increase the price of the diesel even after the imminent spurt in the international oil prices.

....
Terms And Service:We do not guarantee the accuracy of available data ..We Provide Information On Public Data.. Please consult an expert before using this data for commercial or personal use | Powered By:Omega Web Solutions
© 2002-2017 Omega Education PVT LTD...Privacy | Terms And Conditions
Question ANSWER With Solution