SSNMC Super Specialty Hospital Interview Questions and Answers

Credit creation is the process by which banks create new money by lending out more than they hold in reserves.

• Banks create credit by lending out money that they don't actually have in their reserves

• This process increases the money supply in the economy

• The amount of credit that can be created is limited by the reserve requirement set by the central bank

• Credit creation is a key function of the banking system and helps to drive economic growth

There are several types of taxes, including income tax, sales tax, property tax, and excise tax.

• Income tax is a tax on the income earned by individuals and businesses.

• Sales tax is a tax on goods and services purchased by consumers.

• Property tax is a tax on real estate and other property owned by individuals and businesses.

• Excise tax is a tax on specific goods, such as gasoline, tobacco, and alcohol.

• Other types of taxes include estate tax, gift tax, and payroll tax.

Economic problems refer to issues that affect the production, distribution, and consumption of goods and services in an economy.

• Examples of economic problems include inflation, unemployment, poverty, and income inequality.

• These problems can be caused by factors such as government policies, market failures, and external shocks.

• Solutions to economic problems often involve a combination of policies such as monetary and fiscal policies, trade policies, and social welfare programs...read more

PPC curve is a graphical representation of the relationship between price and quantity demanded.

• PPC stands for Price-Quantity Curve

• It shows the impact of price changes on the quantity demanded of a product

• The curve slopes downwards, indicating that as price increases, quantity demanded decreases

• It helps in determining the optimal price point for a product

• Example: A company can use PPC curve to decide the price of a new product based on the demand at different price points

IC curve is a graph that shows the relationship between the price of a product and the quantity of the product that is demanded.

• IC curve stands for Indifference Curve.

• It is used in microeconomics to analyze consumer behavior.

• It shows the different combinations of two goods that a consumer is indifferent between.

• The slope of the IC curve represents the marginal rate of substitution between the two goods.

• The IC curve is downward sloping and convex to the origin.

• It helps in dete...read more