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. Any change in flow of funds and the demand of them, is clearly reflected in which of the following?
[A] Call money market
[B] Money market
[C] Repo market
[D] Commercial bill market
Show Answer
Correct Answer: A [Call money market]
Notes:
Call money market reflects any change in flow of funds and the demand of them.
12. Which of the following is a conventional source of energy?
[A] Geothermal
[B] Hydropower
[C] Solar
[D] Wind
Show Answer
Correct Answer: B [Hydropower]
Notes:
Conventional energy directly means the energy source which is fixed in nature like oil, gas and coal. In other words conventional energy is also termed as non-renewable energy sources. Their use leads to increased greenhouse gas emissions and other environmental damage. Hydropower is a conventional source of energy.
13. Which among the following is best described as opportunity cost?
[A] Difference between the return on chosen option and the return on best forgone option
[B] Difference between two chosen options
[C] Difference between the return this year and the previous year
[D] None of the above
Show Answer
Correct Answer: A [Difference between the return on chosen option and the return on best forgone option]
Notes:
Opportunity costs represent the benefits an individual, investor or business misses out on when choosing one alternative over another. It is the “cost” incurred by not enjoying the benefit associated with the best alternative choice.
14. Who is the author of “Volatility and Growth”?
[A] Esther Duflo
[B] Amartya Sen
[C] Abhijit Banerjee
[D] Jagadish Bhagwati
Show Answer
Correct Answer: C [Abhijit Banerjee]
Notes:
Abhijit Banerjee is the author of “Volatility and Growth”. It has long been recognized that productivity growth and the business cycle are closely interrelated.
15. Which state has the highest Gross State Domestic Product(GSDP) in India?
[A] Kerala
[B] Maharashtra
[C] Telangana
[D] Punjab
Show Answer
Correct Answer: B [Maharashtra]
Notes:
Maharashtra has the highest GSDP among the states and UT’s. It contributes 14.11% of total India’s GDP at current prices followed by Tamil Nadu (8.55%).
16. How much phosphatic fertilizer need is met by the domestic production?
[A] 70%
[B] 50%
[C] 40%
[D] 60%
Show Answer
Correct Answer: B [50%]
Notes:
The fertilizer industry in India has the capacity to indigenously meet 50 % of the country’s phosphatic fertilizers. But India still depends heavily on imports for the raw ingredients for its phosphatic and potassium fertilizers.
17. Which among the following is / are Kharif Crop(s)?
- Maize
- Rice
- Groundnut
- Cotton
Select the correct option from the codes given below:
[A] 1, 2 and 3
[B] 1 and 3
[C] 2 and 4
[D] 1, 2, 3 and 4
Show Answer
Correct Answer: D [1, 2, 3 and 4]
Notes:
The kharif crops include rice, maize, sorghum, pearl millet/bajra, finger millet/ragi (cereals), arhar (pulses), soyabean, groundnut (oilseeds), and cotton.
18. Which is the main reason for food insecurity?
[A] Malnutrition
[B] More fibrous food
[C] Fatty food
[D] None of the above
Show Answer
Correct Answer: A [Malnutrition]
Notes:
Malnutrition is the main reason for food insecurity. It is the main problem for the children and women.
19. Which organization is funding the poultry venture capital fund scheme?
[A] NABARD
[B] ICAR
[C] Ministry of agriculture
[D] Ministry of commerce and industry
Show Answer
Correct Answer: A [NABARD]
Notes:
The poultry venture capital fund scheme is funded by NABARD and the Ministry of MSME to help entrepreneurs and promote poultry farming activity.
20. Which of the following is/ are the example of Kharif crops?
[A] Groundnut
[B] Maize
[C] Paddy
[D] All of the above
Show Answer
Correct Answer: D [All of the above]
Notes:
Kharif crops are cultivated and harvested respectively in April and October. Some of the examples of Kharif crops are Groundnut, Maize and Paddy.
