- Indian Economy Tutorial
- Indian Economy - Home
- Indian Economy - Introduction
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- Indian Economy - National Income
- Indian Economy - Poverty
- Indian Economy - Food Security
- Indian Economy - Employment
- Indian Economy - Infrastructure
- Indian Economy - Rural Development
- Indian Economy - Money & Banking
- Economy - Government Budget
- Indian Economy - Consumer Rights
- Indian Economy - Reforms
- Indian Economy - Open
- Indian Economy - Micro Economics
- Indian Economy - Macro Economics
- Economy - Sustainable Development
- Indian Economy Useful Resources
- Indian Economy - Online Quiz
- Indian Economy - Online Test
- Indian Economy - Quick Guide
- Indian Economy- Useful Resources
- Indian Economy - Discussion
Indian Economy Online Quiz
Following quiz provides Multiple Choice Questions (MCQs) related to Indian Economy. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.
Q 1 - Consider the following statements:
1. In an economic term, output means – finished goods and services.
2. Input means – the resources used in production.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 2 - Consider the following statements:
1. Market System is a system in which goods and resources are apportioned by consumers and producers.
2. Exchange is a managed system by which people trade with others.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 3 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Duty Free Shops?”
Answer : A
Explanation
N/A
Q 4 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Railway Infrastructure?”
Answer : A
Explanation
N/A
Q 5 - Which among the following does publish ‘World Economic Outlook?’
Answer : A
Explanation
World Economic Outlook is published biannually.
Q 6 - S.L. Kapoor Committee is related to …
Answer : B
Explanation
N/A
Q 7 - Kamath Committee is related to …
B - Financial Architecture of MSME sector
Answer : B
Explanation
MSME stands for Micro, Small and Medium Enterprises.
Q 8 - Renuka Ray Committee is related to …
B - Social Welfare and Welfare of Backward Classes
Answer : B
Explanation
Renuka Ray was a distinguished freedom-fighter, social activist, and politician.
Q 9 - Rashid Jilani Committee is related to …
Answer : A
Explanation
N/A
Q 10 - Ahmedabad is known for …
Answer : B
Explanation
N/A
Q 11 - D.R. Gadgil Committee is related to …
B - Public Distribution System
Answer : D
Explanation
D. R. Gadgil, was an Indian economist and vice chairman of the Planning Commission of India.
Q 12 - Consider the following statements:
1. Balance of Trade (BoT) of a country is the record of all economic transactions between the residents of the respective country and the rest of the world in a given period.
2. Balance of Payment (BoP) of a country is the difference in value between a country's imports and exports.
Choose the correct answer from the codes given below:
Answer : D
Explanation
Balance of Payment (BoP) of a country is the record of all economic transactions between the residents of the respective country and the rest of the world in a given period. & Balance of Trade (BoT) of a country is the difference in value between a country's imports and exports.
Q 13 - Which among the following has least influence on exchange rate?
Answer : D
Explanation
N/A
Q 14 - In terms of total export, which among the following is the largest trading partner of India?
Answer : A
Explanation
The United States is the largest trading partner followed by UAE and Hong Kong.
Q 15 - Choksi Committee is related to …
Answer : B
Explanation
N/A
Q 16 - Which among the following provides soft loan to poor countries?
Answer : B
Explanation
IDA stands for International Development Association; its headquarters is located in Washington DC.
Q 17 - Which among the following correctly defines the term ‘price ceiling?’
A - The maximum (legal) price of a product
B - Rules of government to that fixes price of agriculture products
Answer : A
Explanation
A price ceiling is a government-imposed fixed price i.e. controlling or limiting - how high a price is charged for a particular product.
Q 18 - Which among the following is not an indirect tax?
Answer : D
Explanation
Gift tax is a direct tax.
Q 19 - Which among the following schemes ensures the food security to the poor?
A - Swarna Jayanti Anna Yojana (SJAY)
B - Jawahar Gram Anna Yojana (JGAY)
Answer : D
Explanation
AAY has been implemented in 2000.
Q 20 - Major industry/ies, which are located in Kanpur region is/are …
Answer : D
Explanation
Besides, modern tanneries are also located in Kanpur.
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