Question for UPESSC Assistant Professor (Commerce) 2026 - Quiz / Questions / MCQ

Objective Questions

Latest UPESSC Assistant Professor Commerce Exam Question (Objective Questions), MCQ in English

Subjects : General Knowledge, Optional Subject (Commerce)

Question Bank UPESSC Assistant Professor (Commerce) Exam - English

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General Knowledge

Question 1Single Answer

Who presented the Union Budget 2026–27 in Parliament?

A
Amit Shah
B
Piyush Goyal
C
Nirmala Sitharaman
D
Rajnath Singh

Question 2Single Answer

The Union Budget 2026–27 was the first Union Budget prepared in which building?

A
Kartavya Bhawan
B
North Block
C
Parliament House
D
Vigyan Bhawan

Question 3Single Answer

The Union Budget 2026–27 was inspired by how many 'Kartavyas'?

A
Three
B
Two
C
Four
D
Five

Question 4Single Answer

Total expenditure estimated in the Union Budget 2026–27 was approximately:

A
Rs 43.5 lakh crore
B
Rs 48.5 lakh crore
C
Rs 53.5 lakh crore
D
Rs 63.5 lakh crore

Question 5Single Answer

The New Income Tax Act, 2025 came into effect from:

A
January 2026
B
April 2026
C
July 2026
D
April 2027

Question 6Single Answer

India celebrated its _____ Republic Day on 26 January 2026.

A
77th
B
76th
C
75th
D
78th

Question 7Single Answer

Who was one of the Chief Guests at India's Republic Day celebrations in 2026?

A
Emmanuel Macron
B
António Costa
C
Keir Starmer
D
Friedrich Merz

Question 8Single Answer

Ursula von der Leyen attended India's Republic Day 2026 as the:

A
President of France
B
President of the European Commission
C
President of European Council
D
UN General Assembly President

Question 9Single Answer

António Costa is the President of the:

A
European Commission
B
European Parliament
C
European Central Bank
D
European Council

Question 10Single Answer

Republic Day 2026 highlighted 150 years of which national song?

A
Vande Mataram
B
Sare Jahan Se Achha
C
Jana Gana Mana
D
Ae Mere Watan Ke Logon

Question 11Single Answer

How many Padma Awards were approved for 2026?

A
121
B
131
C
125
D
139

Question 12Single Answer

How many Padma Vibhushan awards were announced for 2026?

A
5
B
3
C
7
D
10

Question 13Single Answer

How many Padma Bhushan awards were announced for 2026?

A
10
B
11
C
15
D
13

Question 14Single Answer

How many Padma Shri awards were announced for 2026?

A
103
B
113
C
108
D
118

Question 15Single Answer

The Padma Awards are traditionally announced on the occasion of:

A
Independence Day
B
Gandhi Jayanti
C
Republic Day
D
Constitution Day

Question 16Single Answer

The 20th Asian Games 2026 are being hosted by which country?

A
China
B
South Korea
C
India
D
Japan

Question 17Single Answer

The 2026 Asian Games are primarily being organised in which region?

A
Aichi–Nagoya
B
Osaka–Kyoto
C
Tokyo–Yokohama
D
Sapporo–Hakodate

Question 18Single Answer

On which date did the 20th Asian Games officially open?

A
10 September 2026
B
15 September 2026
C
19 September 2026
D
22 September 2026

Question 19Single Answer

The 2026 Asian Games are scheduled to conclude on which date?

A
4 October
B
2 October
C
30 September
D
10 October

Question 20Single Answer

Approximately how many countries and regions are participating in the 2026 Asian Games?

A
35
B
40
C
50
D
45

Question 21Single Answer

How many sports are included in the 2026 Asian Games programme?

A
43
B
40
C
38
D
48

Question 22Single Answer

Which edition of the Asian Games is being held in 2026?

A
18th
B
19th
C
21st
D
20th

Question 23Single Answer

Japan previously hosted the Asian Games in 1958 in which city?

A
Osaka
B
Nagoya
C
Hiroshima
D
Tokyo

Question 24Single Answer

Japan's second hosting of the Asian Games took place in 1994 in which city?

A
Kyoto
B
Nagoya
C
Hiroshima
D
Kobe

Question 25Single Answer

Which sport made its Asian Games debut in 2026?

A
Hockey
B
Mixed martial arts
C
Badminton
D
Archery

Question 26Single Answer

Which racket sport is among the new additions to the 2026 Asian Games?

A
Racquetball
B
Squash
C
Padel
D
Tennis

Question 27Single Answer

Which sport combining elements of football and table tennis is included as a new sport in the 2026 Asian Games?

A
Footvolley
B
Sepak takraw
C
Futsal
D
Teqball

Question 28Single Answer

Approximately how many medal events are included in the 2026 Asian Games?

A
469
B
419
C
369
D
569

Question 29Single Answer

Which country has traditionally dominated the Asian Games medal table since 1982?

A
Japan
B
China
C
India
D
South Korea

Question 30Single Answer

The 2026 Asian Games also serve as qualifiers for some events at which Olympic Games?

A
Salt Lake City 2034
B
Brisbane 2032
C
Paris 2024
D
Los Angeles 2028

Optional Subject (Commerce)

Question 31Single Answer

Business environment refers to:

A
Only internal factors affecting a firm
B
Only government policies
C
Only economic factors
D
Totality of external forces influencing business

Question 32Single Answer

Which of the following is a component of the economic environment?

A
Religious beliefs
B
Social customs
C
Family structure
D
Monetary policy

Question 33Single Answer

An economic system based mainly on private ownership is called:

A
Socialist economy
B
Capitalist economy
C
Command economy
D
Subsistence economy

Question 34Single Answer

In a socialist economy, the means of production are primarily owned by:

A
Foreign investors
B
Private households
C
Commercial banks
D
Government or society

Question 35Single Answer

A mixed economy combines features of:

A
Socialism and feudalism
B
Capitalism and socialism
C
Capitalism and barter
D
Communism and barter

Question 36Single Answer

India is generally regarded as a:

A
Pure capitalist economy
B
Mixed economy
C
Pure socialist economy
D
Barter economy

Question 37Single Answer

Monetary policy in India is primarily formulated by:

A
SEBI
B
NITI Aayog
C
Ministry of Commerce
D
RBI

Question 38Single Answer

Fiscal policy is mainly concerned with:

A
Bank credit only
B
Share prices
C
Foreign exchange only
D
Government revenue and expenditure

Question 39Single Answer

An increase in repo rate generally aims to:

A
Increase inflation
B
Reduce cost of borrowing
C
Increase money supply immediately
D
Restrain credit expansion

Question 40Single Answer

A reduction in policy interest rates generally tends to:

A
Discourage borrowing
B
Increase direct taxes
C
Encourage borrowing and investment
D
Reduce government expenditure automatically

Question 41Single Answer

Expansionary fiscal policy generally involves:

A
Higher government expenditure or lower taxes
B
Higher taxes only
C
Lower government expenditure
D
Higher CRR

Question 42Single Answer

Contractionary fiscal policy is generally used to control:

A
Deflation
B
Exports
C
Unemployment only
D
Inflationary pressures

Question 43Single Answer

Which is a qualitative instrument of monetary policy?

A
CRR
B
Open market operations
C
Bank rate
D
Selective credit control

Question 44Single Answer

Open market operations refer to:

A
Sale of goods abroad
B
RBI's purchase and sale of government securities
C
Foreign direct investment
D
Trading by private companies

Question 45Single Answer

CRR represents the percentage of deposits banks must keep with:

A
RBI
B
SEBI
C
NABARD only
D
Stock exchanges

Question 46Single Answer

The political environment of business includes:

A
Government stability and ideology
B
Weather patterns
C
Consumer income only
D
Production technology only

Question 47Single Answer

A major role of government in business is:

A
Eliminating all competition
B
Providing regulatory framework
C
Fixing all private-sector wages
D
Managing every enterprise

Question 48Single Answer

Government acts as a regulator when it:

A
Manufactures products
B
Frames and enforces business laws
C
Purchases household goods
D
Provides employee bonuses

Question 49Single Answer

Which environment includes laws regulating business activities?

A
Legal
B
Technological
C
Natural
D
Demographic

Question 50Single Answer

Consumer protection legislation primarily seeks to:

A
Protect producers from customers
B
Prevent imports
C
Safeguard consumer interests
D
Increase indirect taxes

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Optional Subject (Commerce)

Question 51Single Answer

The Consumer Protection Act, 2019 replaced the Consumer Protection Act of:

A
1956
B
1986
C
1969
D
1991

Question 52Single Answer

The Central Consumer Protection Authority was established under the:

A
Companies Act, 2013
B
Competition Act, 2002
C
FEMA, 1999
D
Consumer Protection Act, 2019

Question 53Single Answer

CCPA stands for:

A
Corporate Consumer Policy Agency
B
Central Corporate Pricing Authority
C
Consumer Credit Protection Association
D
Central Consumer Protection Authority

Question 54Single Answer

Which is a recognized consumer right?

A
Right to monopolize
B
Right to avoid taxes
C
Right to safety
D
Right to unlimited credit

Question 55Single Answer

The right to be informed protects consumers against:

A
Misleading or inadequate information
B
Accurate labeling
C
Competition
D
Price comparison

Question 56Single Answer

FEMA stands for:

A
Foreign Economic Monitoring Act
B
Federal Export Management Act
C
Foreign Exchange Management Act
D
Fiscal Exchange Management Act

Question 57Single Answer

FEMA was enacted in:

A
1973
B
1999
C
1991
D
1986

Question 58Single Answer

FEMA replaced:

A
MRTP Act
B
FERA
C
Companies Act
D
Competition Act

Question 59Single Answer

The principal objective of FEMA is to:

A
Prohibit all foreign transactions
B
Nationalize foreign businesses
C
Abolish foreign exchange markets
D
Facilitate external trade and payments

Question 60Single Answer

Under FEMA, foreign exchange violations are generally treated as:

A
Civil offences
B
Treason
C
Constitutional offences
D
No offences

Question 61Single Answer

Sociocultural environment includes:

A
Interest rates
B
Customs, traditions and values
C
Tax rates
D
Exchange rates

Question 62Single Answer

A change in consumer lifestyle primarily represents a change in the:

A
Fiscal environment
B
Legal environment
C
Sociocultural environment
D
Physical environment only

Question 63Single Answer

Demographic changes can influence business by changing:

A
Accounting standards only
B
Market demand
C
Audit procedures only
D
Corporate law only

Question 64Single Answer

CSR stands for:

A
Corporate Statutory Reserve
B
Corporate Sales Return
C
Consumer Service Regulation
D
Corporate Social Responsibility

Question 65Single Answer

CSR broadly refers to a firm's responsibility toward:

A
Society and stakeholders
B
Shareholders alone
C
Government alone
D
Competitors alone

Question 66Single Answer

CSR provisions in India are significantly governed by the:

A
Companies Act, 2013
B
Contract Act, 1872
C
RBI Act, 1934
D
Sale of Goods Act, 1930

Question 67Single Answer

Section 135 of the Companies Act, 2013 deals with:

A
Company liquidation
B
Share transfer
C
CSR
D
Auditing standards

Question 68Single Answer

CSR activities may include:

A
Insider trading
B
Tax evasion
C
Price fixing
D
Environmental sustainability

Question 69Single Answer

Liberalization refers to:

A
Reducing regulatory controls
B
Increasing government restrictions
C
Abolishing private business
D
Eliminating exports

Question 70Single Answer

Privatization broadly refers to:

A
Expansion of public ownership
B
Increasing private-sector participation
C
Elimination of markets
D
Nationalization

Question 71Single Answer

Globalization refers to:

A
Isolation of national economies
B
Elimination of international trade
C
Increasing international economic integration
D
Local production only

Question 72Single Answer

India's major LPG reforms were initiated in:

A
1969
B
1991
C
1977
D
2005

Question 73Single Answer

LPG in economic reforms stands for:

A
Local Production Growth
B
Labour, Production and Governance
C
Liberal Policy Governance
D
Liberalization, Privatization and Globalization

Question 74Single Answer

Industrial delicensing is an example of:

A
Fiscal deficit
B
Nationalization
C
Protectionism
D
Liberalization

Question 75Single Answer

Disinvestment refers to:

A
Government acquiring private shares
B
Complete abolition of public enterprises
C
Government selling its equity in public enterprises
D
Increasing subsidies

Question 76Single Answer

Second-generation reforms generally focus more on:

A
Reintroducing licensing
B
Institutional and governance reforms
C
Closing markets
D
Nationalizing agriculture

Question 77Single Answer

Which is associated with second-generation reforms?

A
Administrative reform
B
Re-establishment of industrial licensing
C
Import prohibition
D
Central planning of every industry

Question 78Single Answer

Industrial policy primarily deals with:

A
Criminal law
B
Family planning
C
Regulation and development of industries
D
Agricultural rainfall

Question 79Single Answer

Structural change in an economy means a change in:

A
Bank account numbers
B
Currency design
C
Company logo
D
Relative contribution of different sectors

Question 80Single Answer

Economic development is often associated with a shift from agriculture toward:

A
Household production only
B
Barter trade
C
Subsistence production
D
Industry and services

Question 81Single Answer

International business includes transactions that:

A
Occur within one village only
B
Cross national boundaries
C
Involve only governments
D
Exclude services

Question 82Single Answer

Which is an international business activity?

A
Intra-department transfer only
B
Domestic retailing only
C
Local advertising only
D
Exporting

Question 83Single Answer

An important benefit of international business is:

A
Elimination of all risks
B
Access to larger markets
C
Elimination of competition
D
Guaranteed profits

Question 84Single Answer

International business generally involves greater complexity due to:

A
No political risk
B
Absence of currency
C
Identical regulations everywhere
D
Differences in legal and cultural environments

Question 85Single Answer

One major driver of globalization is:

A
Closure of markets
B
Complete prohibition of communication
C
Higher transport barriers
D
Technological development

Question 86Single Answer

Improvements in transportation contribute to globalization by:

A
Lowering geographic barriers
B
Reducing movement of goods
C
Raising transaction costs
D
Preventing international trade

Question 87Single Answer

Trade liberalization promotes globalization by:

A
Increasing trade barriers
B
Reducing restrictions on cross-border trade
C
Preventing FDI
D
Banning foreign firms

Question 88Single Answer

Which is the simplest mode of entering a foreign market?

A
Exporting
B
Wholly owned subsidiary
C
Foreign acquisition
D
Greenfield investment

Question 89Single Answer

Licensing allows a foreign firm to use:

A
Government budget
B
Intellectual property of another firm
C
Only physical labour
D
Central bank reserves

Question 90Single Answer

Franchising is especially common in:

A
Service businesses
B
Central banking
C
Public administration
D
Monetary policy

Question 91Single Answer

A joint venture involves:

A
Ownership shared by two or more entities
B
No business ownership
C
Only domestic borrowing
D
Government taxation

Question 92Single Answer

A wholly owned subsidiary gives the parent company:

A
Minimal ownership
B
No control
C
Full ownership
D
Only licensing rights

Question 93Single Answer

Greenfield investment involves:

A
Importing without production
B
Purchasing government securities
C
Establishing new facilities abroad
D
Licensing only

Question 94Single Answer

Acquisition as a foreign-entry strategy involves:

A
Creating only a sales agreement
B
Buying an existing foreign business
C
Exporting through an agent only
D
Avoiding ownership

Question 95Single Answer

Contract manufacturing means:

A
Outsourcing production to another firm
B
Acquiring a foreign central bank
C
Prohibiting imports
D
Only domestic manufacturing

Question 96Single Answer

Turnkey projects generally involve:

A
Exporting agricultural products only
B
Delivering a completed operational facility to a client
C
Share trading only
D
Domestic leasing

Question 97Single Answer

Mercantilism emphasizes:

A
Export surplus and accumulation of wealth
B
Free trade without government role
C
Comparative cost only
D
Factor endowments only

Question 98Single Answer

The theory of absolute advantage is associated with:

A
Heckscher
B
David Ricardo
C
Adam Smith
D
Porter

Question 99Single Answer

The theory of comparative advantage is associated with:

A
Alfred Marshall
B
David Ricardo
C
J.M. Keynes
D
Michael Porter

Question 100Single Answer

Comparative advantage is based primarily on differences in:

A
Currency names
B
Population only
C
Opportunity costs
D
Political systems

Question 101Single Answer

According to absolute advantage, a country should specialize in goods it can produce:

A
At lower absolute cost
B
At the highest cost
C
Only with government subsidy
D
Without labour

Question 102Single Answer

Heckscher-Ohlin theory explains trade in terms of differences in:

A
Company law
B
Consumer rights
C
Monetary policy
D
Factor endowments

Question 103Single Answer

According to Heckscher-Ohlin theory, a labour-abundant country tends to export:

A
No goods
B
Capital-intensive goods exclusively
C
Labour-intensive goods
D
Only gold

Question 104Single Answer

Product life-cycle theory of international trade is associated with:

A
Adam Smith
B
Raymond Vernon
C
Ricardo
D
Keynes

Question 105Single Answer

New trade theory emphasizes:

A
Economies of scale
B
Only agricultural production
C
Complete autarky
D
Barter exchange

Question 106Single Answer

Porter's national competitive advantage model is also called the:

A
CAPM model
B
IS-LM model
C
Diamond model
D
EOQ model

Question 107Single Answer

A tariff is:

A
A tax on imports or exports
B
A production subsidy only
C
A currency exchange
D
A share certificate

Question 108Single Answer

An ad valorem tariff is imposed as:

A
Percentage of product value
B
Fixed physical quantity only
C
Export quota
D
Import license

Question 109Single Answer

A specific tariff is charged:

A
Only as a percentage of income
B
As a fixed amount per unit
C
On company profits
D
On wages

Question 110Single Answer

An import quota is a:

A
Direct tax on income
B
Quantitative restriction on imports
C
Foreign exchange rate
D
Government loan

Question 111Single Answer

Which is a non-tariff barrier?

A
Customs duty
B
Import quota
C
Export tax
D
Income tax

Question 112Single Answer

Technical standards can operate as:

A
Fiscal deficits
B
Monetary instruments
C
Equity securities
D
Non-tariff barriers

Question 113Single Answer

Dumping means selling a product abroad at:

A
An unfairly low price relative to normal value
B
The highest possible price
C
The same tax rate
D
Zero quantity

Question 114Single Answer

Anti-dumping duty is imposed to:

A
Counter injurious dumping
B
Promote dumping
C
Increase FDI automatically
D
Eliminate exports

Question 115Single Answer

A countervailing duty seeks to offset:

A
Domestic wages
B
Foreign subsidies
C
Exchange-rate appreciation only
D
Consumer demand

Question 116Single Answer

A safeguard measure is intended to address:

A
Domestic tax evasion
B
Serious injury from sudden import increases
C
Monetary inflation only
D
Company insolvency

Question 117Single Answer

Government may intervene in international trade to protect:

A
Only foreign firms
B
Infant industries
C
Foreign currencies
D
Stock exchanges only

Question 118Single Answer

The infant-industry argument supports:

A
Elimination of domestic production
B
Permanent prohibition of all imports
C
Free trade in every circumstance
D
Temporary protection for emerging domestic industries

Question 119Single Answer

Strategic trade policy is particularly associated with industries characterized by:

A
Perfectly elastic supply only
B
Economies of scale and imperfect competition
C
Subsistence farming only
D
No fixed costs

Question 120Single Answer

India's Foreign Trade Policy is principally related to:

A
Criminal law
B
Exports and imports
C
School education
D
Municipal taxation

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Latest UPESSC Assistant Professor Commerce Exam Question (Objective Questions), MCQ in English

General Knowledge

Optional Subject (Commerce)

UPESSC Assistant Professor Commerce Exam Online Question Bank Package

Optional Subject (Commerce)

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