SPORTS ECONOMICS
When the IPL was launched in 2008, traditional Test cricket purists predicted it would destroy the game's economics. Instead, IPL revenue has cross-subsidised domestic cricket boards globally. What economic term describes this benefit flowing to third parties?
A) A positive externality
B) A Coase theorem outcome
C) Revenue complementarity
D) A public good provision
If the price of a Netflix subscription rises and many users switch to Prime Video, the two services are -
(a) Complementary goods
(b) Inferior goods
(c) Substitute goods
(d) Public goods
Which Indian stockbroker was famously known as the “Big Bull” and was involved in the 1992 securities scam?
(a) Ketan Parekh
(b) Harshad Mehta
(c) Vijay Mallya
(d) Nirav Modi
Nvidia's market cap briefly exceeded $3.3 trillion in 2025 — making it more valuable than the entire GDP of France. One country's economy is almost entirely responsible for Nvidia's rise. Which?
GDP of France. One country's economy is almost entirely responsible for Nvidia's rise. Which?
(a) The United States
(b) China
(c) Taiwan
(d) South Korea
A team sells cheaper tickets to students and more expensive ones to corporate buyers for the same seat. What pricing strategy is this?:
(a) Bundling
(b) Price Discrimination
(c) Dynamic Pricing
(d) Peak-loading Pricing
If Netflix raises prices but most subscribers stay, demand is relatively -
(a) Elastic
(b) Inelastic
(c) Perfectly competitive
(d) Infinite
Which American energy company collapsed in 2001 after a massive accounting fraud?
(a) Enron
(b) Lehman Brothers
(c) WorldCom
(d) Theranos
India and the UK finally signed a Free Trade Agreement in July 2025 — 3 years after Boris Johnson said it would be done 'by Diwali 2022'. One specific Indian product stands to benefit most dramatically, as it previously faced 12% tariffs while competitors from Bangladesh and Pakistan paid zero. What is it?
(a) Scotch whisky (Indian re-exports)
(b) Textiles and garments
(c) IT services
(d) Pharmaceuticals
Q4: When the IPL was launched in 2008, traditional Test cricket purists predicted it would destroy the game's economics. Instead, IPL revenue has cross-subsidised domestic cricket boards globally. What economic term describes this benefit flowing to third parties?
(a) A positive externality
(b) A Coase theorem outcome
(c) Revenue complementarity
(d) A public good provision
Which Netflix show became the platform’s first series to cross 1 billion hours viewed within its first 28 days under Netflix’s Top 10 measurement?
(a) Squid Game
(b) Wednesday
(c) Stranger Things 4
(d) Bridgerton
Which Indian company became infamous after its founder admitted to falsifying the company’s accounts by thousands of crores?
(a) Infosys
(b) Satyam Computer Services
(c) Wipro
(d) HCL Technologies
India is the world's largest recipient of remittances — $135B in FY25. This is more than India's total net FDI. What does this tell you about India's growth model that GDP figures don't?
(a) India's growth is driven more by its diaspora than domestic entrepreneurs
(b) India exports people more productively than goods — human capital is its biggest export
(c) Remittances will eventually replace FDI as the primary growth driver
(d) It means India is overdependent on foreign economies and is therefore fragile
Saudi Arabia's PIF bought Newcastle United for £305M in 2021 — roughly double what analysts valued the club at. Two years later, Saudi clubs spent €900M in a single transfer window buying players like Neymar, Benzema, and Henderson. Economically, what is the most accurate description of what Saudi Arabia is buying?
(a) Undervalued assets with strong future cash flows
(b) Global brand exposure and reputational rehabilitation that no conventional ad spend could buy
(c) A hedge against oil price volatility through diversified assets
(d) Strategic leverage over FIFA and UEFA governance
Which entertainment company acquired 21st Century Fox in a deal valued at approximately $71 billion, significantly strengthening its content library before the launch of Disney+?
(a) Netflix
(b) Warner Bros.
(c) Walt Disney
(d) Amazon
Bernie Madoff became infamous for running which type of financial fraud?
(a) Insider trading scheme
(b) Ponzi scheme
(c) Money laundering operation
(d) Currency manipulation
India and the UK signed a Free Trade Agreement in July 2025. One sector that India did NOT want to open up — despite UK pressure — was dairy. India refused to allow cheaper British dairy imports. Why would an economist find India's position completely understandable?
A) India's dairy industry is state-owned and legally protected from foreign competition
B) Dairy in India supports 80 million rural farming households — it's a social policy, not just a trade position
C) British dairy doesn't meet Indian food safety standards
D) India runs a large dairy trade surplus and didn't want to disrupt it
The Premier League distributes broadcast revenue roughly equally among its 20 clubs — even last place gets ~£100M. This makes relegation less financially catastrophic than it used to be. What perverse incentive has this accidentally created among newly promoted clubs?
(a) Promoted clubs prefer to lose immediately and return to the Championship where they dominate
(b) Promoted clubs rationally overspend on wages for one season, get relegated, and collect parachute payments worth more than most Championship clubs earn entirely
(c) Clubs tank at the end of seasons to get better draft picks the following year
(d) Bottom clubs lobby for league expansion to reduce relegation risk
Which media merger, valued at roughly $85 billion, combined a major telecom company with an entertainment conglomerate in 2018, later leading to the creation of Max (formerly HBO Max)?
(a) Comcast–NBCUniversal
(b) AT&T–Time Warner
(c) Verizon–Yahoo
(d) T-Mobile–Sprint
The “Dieselgate” scandal involved which company being caught using software to manipulate vehicle emissions tests?
(a) Toyota
(b) BMW
(c) Volkswagen
(d) Mercedes-Benz
DeepSeek R1 was trained for ~$6M. GPT-4 cost ~$100M. After DeepSeek launched in January 2025, the US tightened chip export controls on China even further. What does basic economic theory predict will be the long-run effect of those controls on Chinese AI development?
A) China falls permanently behind — you simply cannot build frontier AI without the best chips
B) Controls slow China in the short run but accelerate domestic innovation, eventually producing a rival supply chain
C) China licenses US chip designs and circumvents the controls within 2 years
D) The controls are self-defeating immediately — China already stockpiled enough chips to last a decade