General Economy Questions and Answers for competitive exams

Posted : 4 months ago

General Economy Questions and Answers for competitive exams UPSC SSC , IAS Prelims, SSC CGL, CHSL, General Awareness Questions Mcq

general economy questions and answers

1.
Which among the following is a tax levied by Centre and not shared with States ?

a
Sales Tax
b
Income Tax
c
Corporation Tax
d
Excise Duty

2.
After ONGC, OIC, NTPC and SAIL, the 'Navratna' PSU which was awarded 'Maharatna' status is

a
Coal India Ltd
b
BHEL
c
HAL
d
GAIL

3.
The Planning Commission of India was constituted in the year

a
1947
b
1950
c
1955
d
1942

4.
Which one of the following is not a scheme/project of the present Government?

a
Swachh Bharat
b
AYUSH
c
AMRUT
d
Jan Dhan Yojana

5.
When there is one buyer and many sellers then that situation is called

a
Monopoly
b
Down right
c
Double buyers right
d
Single buyer right

6.
Which Indian company secured the highest export revenue from IT software and services during the past two years ?

a
Satyam Computer Services Ltd.
b
Infosys Technologies Ltd.
c
Wipro Technologies Ltd.
d
TCS

7.
In a developing country like India, in which sector a high rate of disguised unemployment exists ?

a
House-hold Sector
b
Service Sector
c
Agricultural Sector
d
Corporate Sector

8.
How do you calculate the poverty line?

a
Income of an individual under a threshold value published by Government of India
b
Income of a family less than 100 INR in a day
c
Income of any individual less than 50 INR in a day
d
Average income of all the individuals in a country

9.
Labour Intensive Technique would get chosen in a

a
Capital Surplus Economy
b
Labour Surplus Economy
c
Developed Economy
d
Developing Economy

10.
Which one of the following is an example for Non-Banking Financial institution ?.

a
SBI
b
IOB
c
RBI
d
LIC

11.
India is called a mixed economy because of the existence of (a ) Public Sector (b ) Private Sector (c ) Joint Sector (d ) Cooperative Sector

a
c, d
b
a, d
c
b, d
d
a, b

12.
All of the goods which are scarce and limited in supply are called

a
Luxury goods
b
Expensive goods
c
Capital goods
d
Economic goods

13.
The PURA Scheme which envisages the provision of urban amenities in rural areas in India was advocated for the first time by

a
Prof. Dinshaw Mistry
b
Sri A.P.J. Abdul Kalam
c
Dr. M.S. Swaminathan
d
Dr. Arvind Subramaniam

14.
Which State Government has launched the Smart Village Programme, to improve public facilities in village?

a
Maharashtra
b
Rajasthan
c
Odisha
d
Gujarat

15.
The income elasticity of demand being greater than one, the commodity must be

a
an inferior good
b
None of these
c
a luxury
d
a necessity

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General Economy Questions and Answers for competitive exams

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