Indian Economy and Finance Mock Test

A sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken.

Inventory is the accounting of items, component parts and raw materials a company uses in production or sells.

Gross domestic product (GDP) at factor cost is GDP at market prices minus net indirect taxes plus subsidies.

Depository services are services in which the securities of investors are kept in an electronic form just as bank keeps all your cash in its account and provides all services related to the transaction of cash, similarly, we help you out in performing the service through a demat account.

When marginal cost is less than average cost, average cost falls and when marginal cost is greater than average cost, average cost rises.

The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.

Entrepreneurship is an individual's ability to turn ideas into action. It includes creativity, innovation and risk-taking, as well as the ability to plan and manage projects in order to achieve objectives. Entrepreneurs have the ability to organize the process of production.

The Damodar Valley Corporation is the first Public Sector Corporation of independent India. The Corporation came into existence on 7th July, 1948 as the first multipurpose river valley project of independent India. It is an Indian governmental organization which operates in the Damodar River area of West Bengal and Jharkhand states of India.

Population growth rate is affected by birth rates, death rates, immigration, and emigration. A high growth rate of population is characterised by high birth and low death rates.

Green Banking is any form of banking from which the country gets environmental benefits. A conventional bank becomes a green bank by directing its core operations towards the betterment of the environment.