Indian Economy MCQs

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A centrally planned economy is an economic system in which the state or government makes economic decisions rather than the these being made by the interaction between consumers and businesses.

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Most of central India and much of North India are subject to a humid subtropical climate. Though they experience hot summers, temperatures during the coldest months may fall as low as 0 °C (32 °F). Due to ample monsoon rains, India has only one subtype of this climate under the Köppen system.

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The World Tourism Organization (UNWTO) is the United Nations agency responsible for the promotion of sustainable and universally accessible tourism. Its headquarters is located at Madrid, Spain.

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The purchasing power of a person is the reason for his limited spending. He has budget constraints which inturn affect the market as a whole. The budget constraint is used to analyze consumers choices.

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Productivity, in economics, measures output per unit of input, such as labor, capital, or any other resource – and is typically calculated for the economy as a whole, as a ratio of GDP to hours worked.

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Genetically modified crops have led to reduced production costs and increased yields since 2006. GM technology has decreased global pesticide use by 8.3% and improved crop resistance to drought and diseases. Enhanced nutritional value is demonstrated by Golden Rice, which contains vitamin A. Higher yields of soybean, cotton, and maize have been recorded. These factors contribute to lower, not increased, food prices for consumers.

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The famous Kadaknath chicken meat from Jhabua district of Madhya Pradesh. It has now got a Geographical Indication (GI) tag. The tag denotes that the product comes from a particular geographical area, and often enhances its commercial value.

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China is the largest silk-producing country globally. In 2022, China accounted for approximately 75% of the world’s raw silk output. China’s main silk-producing provinces are Jiangsu, Zhejiang, and Sichuan. The country has been the leading silk producer for several decades, exporting silk products worldwide. The Chinese silk industry is supported by both government initiatives and private sector involvement.

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Punjab recorded the highest per hectare fertilizer consumption among Indian states in 2023-24 at 247.61 kg per hectare. Punjab’s farming is characterized by intensive cultivation of rice and wheat. The national average fertilizer consumption per hectare for India in the same period was 139.81 kg. Punjab’s irrigation infrastructure supports its intensive agriculture and fertilizer use.

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Kuhl is a type of traditional irrigation system in Himachal Pradesh. They are surface channels diverting water from natural flowing streams (khuds). A typical community of kuhls services 6 to 30 farmers, irrigating an area of about 20 ha.