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. What is Market equilibrium?
[A] Quantity demanded greater than quantity supplied
[B] Quantity demanded less than quantity supplied
[C] Quantity demanded equal to quantity supplied
[D] Quantity demanded is same as quantity produced
Show Answer
Correct Answer: C [Quantity demanded equal to quantity supplied]
Notes:
Market equilibrium is defined by equality between quantity demanded and quantity supplied in the market. The equilibrium price is the price of a good or service when the supply of it is equal to the demand for it in the market.
12. Who wrote “The Theory of Interest as Determined by Impatience to Spend Income and Opportunity to Invest It”?
[A] Alfred Marshall
[B] Milton Friedman
[C] J S Mill
[D] Irving Fisher
Show Answer
Correct Answer: D [Irving Fisher]
Notes:
Irving Fisher, a leading American neoclassical economist, published “The Theory of Interest as Determined by Impatience to Spend Income and Opportunity to Invest It” in 1930. His pioneering work analyzed interest rates, relating them to savings impatience and investment opportunities, influencing modern interest theory and macroeconomics.
13. Which of the following are the reasons for India to shift from the primary sector to the tertiary sector and not the secondary sector?
[A] Restriction of FDI
[B] Availability of skilled labour
[C] Well developed and educated human resource
[D] Liberal labour laws
Show Answer
Correct Answer: C [Well developed and educated human resource]
Notes:
Well educated and immense human resources, Fluency in English and availability of cheap labour are other reasons for rapid growth of service sector in the country. On the other hand low growth in Secondary sector can be attributed to various reasons like rigid laws, restriction of FDI etc.
14. When does the state government declare agricultural drought in an area?
[A] Rainfall less than normal by 10%
[B] Rainfall less than normal by 5%
[C] More than 20% state facing drought
[D] None of the above
Show Answer
Correct Answer: C [More than 20% state facing drought]
Notes:
Declaration of droughts is done by the States. Meteorological drought and agricultural drought are 2 kinds.
Meteorological drought is when rainfall is 10% or more, less than normal. Agricultural drought is when 20% or more area of a state is facing drought.
15. Which type of crop production is provided the help of geo-informatics under Project Chaman?
[A] Cash Crops
[B] Food crops
[C] Plantation
[D] Horticulture
Show Answer
Correct Answer: D [Horticulture]
Notes:
Project CHAMAN was launched with the aim of helping the horticulture segment of Indian agriculture. This project aims to make use of the Geo-informatics to help the farmers and policy makers in the Government.
16. Which is India’s top oilseed by production volume in 2024–25?
[A] Soybean
[B] Groundnut
[C] Mustard
[D] Sunflower
Show Answer
Correct Answer: A [Soybean]
Notes:
Soybean production in India reached 152.68 lakh tonnes in 2024–25. Major producing states include Madhya Pradesh, Maharashtra, and Rajasthan. Soybean area and output consistently lead the country’s oilseed sector. Groundnut production stood at 119.42 lakh tonnes in 2024–25. Mustard and sunflower have smaller shares in total oilseed production.
17. Which state is the largest producer of Bajra in India?
[A] Telangana
[B] Rajasthan
[C] Maharashtra
[D] Gujarat
Show Answer
Correct Answer: B [Rajasthan]
Notes:
Rajasthan has been the largest producer of Bajra in India, contributing nearly 40% of the country’s total production. Bajra is mainly cultivated in western Rajasthan, including districts such as Jodhpur, Barmer, Bikaner, and Nagaur. The state’s climate and soil conditions are suitable for pearl millet cultivation. Annual statistics from the Ministry of Agriculture confirm Rajasthan’s leading position for decades.
18. Which of these is commonly classified as white meat?
[A] Beef
[B] Pork
[C] Turkey
[D] Venison
Show Answer
Correct Answer: C [Turkey]
Notes:
Turkey is classified as white meat due to its low myoglobin content. Myoglobin is an iron-containing protein more abundant in red meat from mammals such as beef and venison. Turkey, along with chicken and most poultry, is considered white meat. Pork and beef are classified as red meat. Venison, which comes from deer, is also classified as red meat because of higher myoglobin levels.
19. Which crop was primarily targeted during India’s Green Revolution?
[A] Ground nuts
[B] Tur Dal
[C] Wheat
[D] None of the above
Show Answer
Correct Answer: C [Wheat]
Notes:
India’s Green Revolution began in the 1960s with high-yielding wheat varieties introduced mainly in Punjab, Haryana, and western Uttar Pradesh. Wheat production increased from 11 million tonnes in 1960-61 to over 50 million tonnes by 1990. The HYV wheat seeds were developed by Norman Borlaug and M.S. Swaminathan. The focus was wheat and later rice, not pulses or oilseeds.
20. What is geopolymer cement mainly composed of?
[A] Calcium silicates
[B] Aluminosilicates (aluminum and silicon)
[C] Portland clinker
[D] Organic polymers
Show Answer
Correct Answer: B [Aluminosilicates (aluminum and silicon)]
Notes:
Geopolymer cement is synthesized from aluminosilicate materials such as fly ash and metakaolin. In geopolymerization, aluminosilicate sources react with alkali activators, forming a three-dimensional Si-O-Al network. Geopolymer cement does not use Portland clinker or calcium silicates. It is produced at ambient or lower temperatures. Its main binding components are aluminum and silicon derived from industrial byproducts rich in aluminosilicates.
