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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 - Which among the following is/are not correctly matched?
1. Primary SectorAgriculture
2. Secondary SectorIndustry, Manufacturing
3. TertiaryServices
Select the correct answer from the given codes:
Answer : C
Explanation
Tertiary sector includes business, transport, etc.
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 - IRDA is regulatory authority of
Answer : A
Explanation
IRDA stands for Insurance Regulatory and Development Authority (Act, 1999).
Q 4 - Which among the following is not a direct tax?
Answer : D
Explanation
Vat is an indirect tax.
Q 5 - What is the limit of Foreign Direct Investment (FDI) in the sector of Banking- Public Sector?
Answer : D
Explanation
N/A
Q 6 - Khanna Committee is related to
Answer : D
Explanation
The committee was set up under the chairmanship of Justice H.R. Khanna in 1998.
Q 7 - R.V. Gupta Committee is related to
B - Agricultural Credit Delivery
Answer : D
Explanation
N/A
Q 8 - What is the limit of Foreign Direct Investment (FDI) in the sector of Pharmaceuticals (Brown Field)?
Answer : A
Explanation
Up to 74% automatic, but above 74% after governments approval.
Q 9 - Which among the following correctly defines the term Green Shoots?
Answer : D
Explanation
Green shoots basically means revival of the economy.
Answer : B
Explanation
The headquarters of KB Kookmin Bank is located in Seoul, South Korea.
Q 11 - Which among the following can correctly link with the term MIBOR?
Answer : A
Explanation
MIBOR stands for Mumbai Interbank Offer Rate.
Q 12 - Chelliah Committee is related to
Answer : B
Explanation
Chelliah Committee was constituted in 1991.
Q 13 - How many people are living below the extreme poverty line?
Answer : A
Explanation
According to the most recent estimates (published by World Bank), in 2013, 10.7 percent of the worlds population were living on less than US$1.90 a day.
Q 14 - In reference to microeconomics, consider the following statements:
1. Elasticity is normally the measurement of how responsive an economic variable is to a change in another variable.
2. Elasticities usually include price elasticity of supply, price elasticity of demand, income elasticity of demand, and elasticity of substitution.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 15 - What is the limit of Foreign Direct Investment (FDI) in the sector of Petroleum & Natural Gas (especially exploration activities)?
Answer : A
Explanation
N/A
Q 16 - Consider the following statements:
1. The main target of the Gandhian model was the agriculture as the most important sector in economic planning of India.
2. Pandit Nehru wanted to emphasize on heavy industries, whereas Gandhian model emphasized to give primacy to agriculture, handicraft, and cottage industry.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 17 - Who among the following has given the concept of Physical Quality of Life Index (PQLI)?
Answer : A
Explanation
PQLI measures the quality of life or well-being of a country.
Q 18 - Consider the following statements:
1. Special Drawing Rights (SDR) is an international reserve asset, created by the International Monetary Fund in 1969.
2. The value of Special Drawing Rights is regulated on the basis of the portfolio of widely used countries.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
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 - Consider the following statements:
1. Oligopsony is a market where many sellers can be present, but meet only a few buyers.
2. Monopsony is a market when there is only one buyer in a market.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A