Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations.
11. Consider the following statement about India’s child welfare programme:
The scheme now subsumed under Mission Saksham Anganwadi & Poshan 2.0 focuses on improving the nutritional and health status of children in the age group of _?
[A] 0-6 years
[B] 0-10 years
[C] 0-14 years
[D] 6-14 years
Show Answer
Correct Answer: A [0-6 years]
Notes:
Mission Saksham Anganwadi & Poshan 2.0 continues the Anganwadi-based nutrition and early childhood care framework for young children. Its services are meant for children from birth to 6 years of age, along with pregnant women and lactating mothers. The child-focused component covers growth monitoring, supplementary nutrition, preschool activities, health referral and related support, so the correct age group remains 0-6 years.
12. With reference to various types of Banking, what is “Mixed Banking”?
[A] when banks undertake the activities of commercial and investment banking together
[B] when banks undertake the activities of wholesale and retail banking together
[C] when banks undertake the activities of offline and online banking together
[D] when banks undertake the activities of commercial and cooperative banking together
Show Answer
Correct Answer: A [when banks undertake the activities of commercial and investment banking together]
Notes:Mixed Banking is the system in which banks undertake activities of commercial and investment banking together.
- These banks give short-term and long-term loans to industrial concerns.
- The banks appoint experts which give valuable advice on various financial issues and also help gauge the financial health of companies.
- Industries don’t have to run to different places for differential financial needs.
- They thus promote rapid industrialization.
- They may however pose a grave threat to liquidity of a bank and lead to bad debts.
13. Which of the following is an alternative way of representing the production function?
[A] Average Product
[B] The Long Run
[C] Isoquant
[D] The Short Run
Show Answer
Correct Answer: C [Isoquant]
Notes:
An isoquant is a firm’s counterpart of the consumer’s indifference curve. An isoquant is a curve that shows all the combinations of inputs that yield the same level of output. ‘Iso’ means equal and ‘quant’ means quantity.
14. Where is the headquarters of Hindustan Zinc Ltd?
[A] Jaipur
[B] Jodhpur
[C] Jaisalmer
[D] Udaipur
Show Answer
Correct Answer: D [Udaipur]
Notes:
Hindustan Zinc Limited (HZL) is an integrated mining and resources producer of zinc, lead, … Chanderiya (Chittorgarh), Debari (Udaipur) & Dariba (Rajsamand) in Rajasthan with total zinc and lead production capacity of 1.0 million tonnes.
15. What is investment by foreign investors in Indian company shares and bonds called?
[A] Foreign Direct Investment (FDI)
[B] Foreign Portfolio Investment (FPI)
[C] Domestic Institutional Investment (DII)
[D] Non-Resident Indian (NRI) Investment
Show Answer
Correct Answer: B [Foreign Portfolio Investment (FPI)]
Notes:
Foreign Portfolio Investment (FPI) refers to investment by foreign investors in financial assets such as shares, bonds and other securities in India. Such investment is generally made without seeking management control over the company. This is different from Foreign Direct Investment (FDI), which involves a lasting interest and often some degree of control in the enterprise. Hence, foreign investment in listed shares and bonds is classified as FPI.
16. Which among the following is related to utility?
[A] Satisfaction and wants
[B] Necessity and wants
[C] Usefulness and need
[D] None of the above
Show Answer
Correct Answer: A [Satisfaction and wants]
Notes:
Utility is the power or capacity of a commodity to satisfy a human want or it is the amount of satisfaction that a person gets from the consumption of a good or service. It is measured in utils.
17. Which among the following is not a part of factor of production?
[A] Land
[B] Labour
[C] Capital
[D] Wages
Show Answer
Correct Answer: D [Wages]
Notes:
The Factors of production are the inputs available to supply goods and services in an economy.
They are Land, Labour, Capital and Enterprise.
18. Who authored “The Economics of Imperfect Competition”?
[A] E.H. Chamberlin
[B] J.R. Hicks
[C] Joan Robinson
[D] Dean Baker
Show Answer
Correct Answer: C [Joan Robinson]
Notes:
Joan Robinson, a British economist, published “The Economics of Imperfect Competition” in 1933. The book introduced the concept of imperfect competition and analyzed distribution, allocation, and exploitation, marking a significant contribution to microeconomic theory.
19. Which Indian Economist created Dui-doku?
[A] Raghuram Rajan
[B] I.G.Patel
[C] Jayanti Gosh
[D] Kaushik Basu
Show Answer
Correct Answer: D [Kaushik Basu]
Notes:
Kaushik Basu created Dui-doku, a competitive two-player version of Sudoku. He is an Indian economist who previously worked as a chief economic advisor to Manmohan Singh govt.
20. Who is the father of the White Revolution in India?
[A] M.S.Swaminathan
[B] Verghese Kurien
[C] R.S.Sodhi
[D] Sam Pitroda
Show Answer
Correct Answer: B [Verghese Kurien]
Notes:
Verghese Kurien is known as the ‘Father of the White Revolution’ in India, was a social entrepreneur whose “billion-liter idea”, Operation Flood, the world’s largest agricultural dairy development program which made India Self sufficient in Dairy products.
