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. Which of the following is correct for economic efficiency?
[A] Increase in economic acitivty in an economy
[B] Use of resources to maximize the production of goods and services
[C] Distribution of economic resources in fair and equitable manner
[D] Maximum usage of resources for maximum production of goods
Show Answer
Correct Answer: B [Use of resources to maximize the production of goods and services]
Notes:
Economic Efficiency is the use of resources so as to maximize the production of goods and services. Resources are scarce and there are unlimited wants so economic efficiency is key in development.
12. Which among the following economic systems doesn’t have profit-making as motive?
- Socialist
- Market
- Mixed
- Traditional
Choose the correct option from the choices given below:
[A] 1 and 2
[B] 2 and 3
[C] 3 and 4
[D] 1 and 4
Show Answer
Correct Answer: D [1 and 4]
Notes:
Profit making is not the motto of the Socialist as well as the Traditional economic system. In mixed as it has a capitalist element in it, profit-making becomes one of its motives like that of market/capitalist economy.
13. In which year did Maruti Udyog Limited start its commercial production?
[A] 1982
[B] 1987
[C] 1985
[D] 1983
Show Answer
Correct Answer: D [1983]
Notes:
Maruti Udyog Limited was incorporated in 1981, but its commercial production began in 1983 when the first Maruti 800 rolled out of the Gurgaon plant. Since the question asks about the start of commercial production, 1983 is the correct answer.
14. In which year, National Food Security Act was passed?
[A] 2014
[B] 2013
[C] 2012
[D] 2009
Show Answer
Correct Answer: B [2013]
Notes:
The Parliament of India, enacted legislation in 2013 known as the National Food Security Act, 2013 to provide the food to every citizen of the country.
15. Which Five-Year Plan had the theme of “Faster and More Inclusive Growth”?
[A] 10th
[B] 11th
[C] 9th
[D] 12th
Show Answer
Correct Answer: B [11th]
Notes:
The Eleventh Five-Year Plan covered the period 2007–2012 and adopted the theme “Faster and More Inclusive Growth.” It emphasized accelerating GDP growth while ensuring that the benefits of development reached a wider section of society. This plan focused on agriculture, infrastructure, education, health, employment generation and poverty reduction, making inclusive growth its central policy objective.
16. India’s seed vault is located at which of the following locations?
[A] Ladakh
[B] Jammu
[C] Tawang
[D] Lipulekh
Show Answer
Correct Answer: A [Ladakh]
Notes:
India’s Seed Vault is located at Chang La (Ladakh) in the Himalayas, at a height of 17,300 feet, there is a storage facility with over 5,000 seed accessions. One accession consists of a set of seeds of one species collected from different locations or different populations.
17. Which among the following is not a benefit of neem coated urea?
[A] Slow down the process of nitrogen release
[B] Enhance the yield
[C] Increase urea requirement
[D] Reduce fertilizer cost
Show Answer
Correct Answer: C [Increase urea requirement]
Notes:
Coating urea with neem oil is neem coated urea. It has various benefits like slowing down the process of nitrogen release, enhance the yield, reduce urea requirement so the cost of fertilizer is reduced.
18. What is growing of 2 crops in alternate rows known as?
[A] Relay cropping
[B] Row intercropping
[C] Mixed cropping
[D] None of the above
Show Answer
Correct Answer: B [Row intercropping]
Notes:
Row intercropping is a form of intercropping in which two or more crops are grown in alternate rows. It allows better use of space, light, and nutrients, and can also help suppress weeds during the early growth stage of the main crop.
19. Which is the top Mustard producing state in India?
[A] Maharastra
[B] Madhya Pradesh
[C] Rajasthan
[D] Gujarat
Show Answer
Correct Answer: C [Rajasthan]
Notes:
Rajasthan is the top Mustard and Rapeseed Producing state. It produces approximately 48.12% of Mustard and Rapeseed. It is followed by Madhya Pradesh and Haryana.
20. Which is the only country to produce all types of commercial silks?
[A] China
[B] India
[C] Australia
[D] USA
Show Answer
Correct Answer: B [India]
Notes:
India has the unique distinction of being the only country producing all the five known commercial silks, namely, mulberry, tropical tasar, oak tasar, eri and muga, of which muga with its golden yellow glitter is unique and prerogative of India.
