Indian Economy Online Quiz
Following quiz provides Multiple Choice Questions (MCQs) related to Indian Economy. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.
Q 1 - Consider the following statements:
1. In an economic term, comparative advantage means – the ability to produce goods more competently than other producers.
2. Division of labor means, breaking the tasks into smaller jobs.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Answer : B
Explanation
Total 14 Banks were nationalized.
Q 3 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Multi Brand Retail Trading?”
Answer : D
Explanation
N/A
Q 4 - S.S. Nadkarni Committee is related to …
Answer : B
Explanation
N/A
Q 5 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Banking- Public Sector?”
Answer : D
Explanation
N/A
Q 6 - Indian Explosive Factory is located in …
Answer : A
Explanation
Indian Explosive Factory is located in Gomia in Hazaribagh (Jharkhand).
Q 7 - In reference to HDI, which among the following countries stands first?
Answer : A
Explanation
N/A
Q 8 - Consider the following statements:
1. In an economic term, resources means – instruments those are used to create the goods (of) people’s desire.
2. Scarcity means – when the amount of an item available is less than the people’s demand.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 9 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Single Brand retail trading?”
Answer : A
Explanation
N/A
Q 10 - Chore Committee is related to …
Answer : D
Explanation
The Reserve Bank of India had appointed a committee under the chairmanship of Shri K.B. Chore, known as Chore Committee.
Q 11 - Consider the following statements:
1. Interest rate corridor denotes the window between the repo rate and the reverse repo rate.
2. The highest point of the rate is determined by the rate at which Reserve Bank of India lends money to the banks i.e. the repo rate.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Answer : C
Explanation
MDAX Share Price Index is the stock exchange of Germany.
Q 13 - National Development Council is presided by …
Answer : A
Explanation
N/A
Q 14 - Which among the following countries has the largest economy in the world?
Answer : A
Explanation
United States has the largest economy in the world, followed by China and Germany.
Q 15 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Petroleum & Natural Gas (especially exploration activities)?”
Answer : A
Explanation
N/A
Q 16 - Kannan Committee is related to …
Answer : B
Explanation
The Committee submitted its report in 1997.
Q 17 - The Self Employment to the Educated Unemployed Youth (SEEUY) was introduced in …
Answer : A
Explanation
The objective of SEEUY is to provide financial and technical assistance for self-employment.
Q 18 - Tiruchirapalli is known for …
Answer : D
Explanation
Tiruchirapalli is located in Tamil Nadu
Q 19 - Third Five Year Plan was based on …
Answer : C
Explanation
The period of Third Five Year Plan was 1961-66.
Q 20 - Consider the following statements:
1. An oligopoly is a sort of market in which a market is dominated by a small number of sellers.
2. In an oligopoly market, each company scrambles to come out with latest and greatest products or services in order to sway consumers to go with their company over a different one.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
