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MCQ on Indian Economy

Which of the following sector gives the largest income in India ?

  • Trade sector
  • Railway
  • Agriculture
  • Service sector
    • Correct Option: D  [ Service sector ]

    Explanation:

Which of the following is a primary sector of economic activities in India ?

  • Food processing
  • Telecom services
  • Manufacturing industry
  • Agriculture
    • Correct Option: D  [ Agriculture ]

    Explanation:

From the following statements pertaining to the World Economic Forum (WEF), find the correct statement(s) :

(i) The WEF is a platform under the International Monetary Fund (IMF).

(ii) The WEF is an independent department of the World Bank.

(iii) The WEF is an International Organization for Public-Private Cooperation.

(iv) The WEF was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.

Select the correct answer using the codes given below.

  • Only (1)
  • Only (ii)
  • Only (iii) and (iv)
  • Only (ii) and (iii)
    • Correct Option: C  [ Only (iii) and (iv) ]

    Explanation:

The SEBI was given statutory recognition in 1992 on the recommendation of:

  • the Chakraborty Commission
  • the Chelliah Committee
  • the Tendulkar Committee
  • the Narasimham Committee
    • Correct Option: D  [ the Narasimham Committee ]

    Explanation:

Poverty is defined as:

  • A monetary condition brought about by people's own laziness
  • A monetary condition where people do not have enough to satisfy basic needs
  • A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
  • All of the above
    • Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

    Explanation:

If the RBI adopts expansionist open market operations policy, this means that it will:

  • openly announce to the market that it intends to expand credit
  • sell securities in open market
  • offer commercial banks more credit in the open market
  • buy securities from non-government holders
    • Correct Option: B  [ sell securities in open market ]

    Explanation:

The period of high inflation and low economic growth is termed as:

  • Stagnation
  • Take-off stage in economy
  • Stagflation
  • Depression
    • Correct Option: C  [ Stagflation ]

    Explanation:

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

  • National Farmers Commission
  • Commission for Agricultural Costs and Prices
  • Central Statistical organization
  • Department of Agriculture
    • Correct Option: B  [ Commission for Agricultural Costs and Prices ]

    Explanation:

Who was the head of the 10th Finance Commission?

  • K.C. Pant
  • Manmohan Singh
  • Vasant Sathe
  • Shiv Shankar
    • Correct Option: A  [ K.C. Pant ]

    Explanation:

In India, Special Economic Zones were established to enhance:

  • Technology Development
  • Free Trade
  • Foreign Investment
  • Employment
    • Correct Option: B  [ Free Trade ]

    Explanation:
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