Economics Quiz
1. What does Inflation imply? – Rise in general price index
2. When was the decimal system of currency introduced in India? – 1957
3. What is the mean of Cheap Money? – Low Rate of Interest
4. Which bank is the Banker of the Banks? – RBI
5. From where does the National Stock Exchange functions? – Mumbai
6. Which is the oldest ‘stock exchange of India? – Bombay Stock Exchange
7. By which bill does the government make arrangement for the collection of revenues for a year? – Finance Bill
8. If the price of an inferior good falls, what about its demand? – Remains constant
9. In which year was Railway Budget in India separated from general budget? – 1924-25
10. What is the investment in public works? – Capital expenditure
11. With which Economic growth is usually coupled? – Inflation
12. Which is the largest (in terms of turnover) Public Sector organisation in India? – Indian Oil Corporation
13. How is the difference between visible exports and visible imports defined? – Balance of trade
14. Who long do the World Bank and IMF give respectively? – Long term and short term credits
15. Which State produces maximum pulses in the country? – Madhya Pradesh
16. In which activity percentage share of cooperative sector is the highest? – Sugar production
17. Economic Planning is a subject of which list? – Union List
18. When was the Rolling plan designed? – 1978-83
19. Why is Poverty in less developed countries largely? – Due to income inequality
20. Among the remedies of inflation, what can we include? – Lowering bank rate
21. Who sings on One-rupee currency notes? – Finance Secretary of India
22. terms of economics, which recession occurring two times with a small gap in between? – Deep Recession
23. In India, which first bank of limited liability managed by Indians and founded in 1881? – Oudh Commercial Bank
24. Bouncing of cheques has become an offence. What is the punishment for the same? – 6 months imprisonment
25. Which Public Sector bank’ emblem figures a dog and the words ‘faithful, friendly’ in it? – Syndicate Bank
26. Consequent upon the recommendations of the Working Group on Rural Banks, in which year were 5 Rural Regional Banks initially set up? – 1975
27. Through which methods is the national income of India estimated mainly? – Production and income methods
28. From when was the Zero Base Budgeting in India first experimented? – April, 1987
29. On which do Companies pay Corporation Tax? – Incomes
30. Why is the Gross National Income always more than Net National Income? – Direct taxes
31. Which is the updated base for Wholesale Price Index (WPI) ? – 2004-2005
32. After textiles, which is India’s second important industry? – Iron and steel
33. Which Committee was formed to suggest means for eradicating black money? – Cheiliah Committee
34. What is the mean of Ad Valorem? – According to value
35. The ‘Uruguay Round’ negotiations resulted in the establishment of which organization? – WTO
36. From which country does More than one-third of the crude steel production of the world comes? – China
37. What is the mean of ‘Take off stage’ in an economy? – Steady growth begins
38. When had India a plan holiday? – After the drought of 1966
39. Who was the first Chairman of the Planning Commission? – Pt. Jawahar Lal Nehru
40. Which Committee’s recommendations are being followed for estimating Poverty Line in India? – Lakdawala Committee
41. For which purpose, the Government has launched the Rajiv Awas Yojana? – To provide affordable houses to rural poor
42. What is the effect of inflation on tax revenue results in a situation? – Fiscal drag
43. By which band is Monetary policy regulated? – Central Bank
44. Immediately prior to change in the measure of Food Inflation, which index was being used for measuring it? – Wholesale Price Index
45. Who is responsible for the collection and publication of monetary and financial information? – Reserve Bank of India
46. Which is at the apex of Industrial Finance in India? – Industrial Development Bank of India
47. Which bank gives long term loan to farmers? – Land Development Bank
48. During whose viceroyalty was the system of Budget introduced in India? – Canning
49. Who is the chairman of 13th Finance Commission? – Vijay Kelkar
50. Main’ bearers of the burden of indirect tax are? – consumers
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1. Which sector of Indian Economy has shown remarkable expansion during the last decade? – Tertiary Sector
2. Hindu Rate of growth refers to the rate of growth of which sector? – GDP
3. In India, Hindu Rate of Growth is associated with which income? – National Income
4. What is the base year for computation of National Income in India? – 1993-94
5. As the economy develops, what happens in the share of the tertiary sector in the GDP? – Increases
6. Who coined the term ‘Hindu rate of growth’ for Indian Economy? – Raj Krishna
7. Who wrote a book describing the theory of economic drain of India during British rule? – Dadabhai Naoroji
8. Which is definitely a major indication of the State of the economy of a country? – Rate of GDP growth
9. Where is the Indian Sugarcane Research Institute situated? – Lucknow
10. The impact of Green Revolution was felt most in the production of which crop? – Wheat
14. Where first Agriculture University of India was established? – Pantnagar
15. In which year was the Food Corporation of India (FCI) set up? – 1965
16. Which bank provides the largest credit to agriculture and allied sectors? – Commercial Banks
17. Which is the apex institution in the sphere of Agriculture credit? – NABARD
18. The Bonded Labour System (Abolition) Act was legislated in which year? – 1976
19. The Green Revolution in India was the outcome of the efforts of which person? – M. S. Swaminathan
20. Who is known as Father of White Revolution in India? – V. Kurien
21. Where is the Central Rice Research Institute located? – Cuttack
22. Dr. M. S. Swaminathan has distinguished himself in which fields? – Agriculture
23. Agriculture sector directly employs what percentages of labour force in India? – 65 %
24. Which method of soil conservation is most effective in arid areas? – Shelter belt
25. Which state is the most industrially advanced State in India? – Maharashtra
26. Industrial licensing was finally abolished (with a few exception) in which policy? – Industrial Policy, 1991
27. First Industrial Policy of free India was announced in which year? – 1948
28. Who was the Chairman of the National Commission for Enterprises in the Unorganised Sector? – Arjun Sengupta
29. Commercial paper is a source of credit for which industry? – Corporate Industry
30. Which car companies has launched a small cheaper car ‘Nano’? – Tate Motors Ltd.
31. What is the classification of industries on the basis of raw-materials? – Primary and Secondary
32. Which is the biggest enterprise of the Government of India? – Railway
33. Raurkela Steel Plant was set up with the assistance from which country? – West Germany
34. In India, liberal Industrial Policy was adopted in which year? – 1991
35. Bhilai Steel Plant is the collaborative project of Indian Government and which other country? – Soviet Union
36. Since when disinvestment started in public enterprises? – 1991-92
37. Which entity holds the Number 1 position among Indian international trading company? – MMTC
38. Which one of the following Indian States does not keep its own High Court? – Manipur
39. Which one of the following is not the main jurisdiction of the High Court of a State? – Advisory Jurisdiction
40. Omkar Goswami Committee was set up by the Government for examining the issue of which matter? – Industrial sickness
41. The licensing policy for the industries drew strength from which act? – Industrial Act, 1951
42. Where is the Forest Reserve Institute of India located? – Dehradun
43. Which State in’ India is estimated to have the largest coal reserves in India? – Jharkhand
44. Which is a ‘Hot Spot’ for biological diversity in India? – Sundarban
45. Major coalfields of India are located in the river valley of – Damodar
46. Which one of the following is the highest gravity dam which river? – Bhakra Dam
47. What is the minimum forest cover to maintain ecological balance in the plains? – 33%
48. Which is the longest irrigation canal in India called? – Indira Gandhi Canal
49. When was the first National Forest Policy issued by the Government of India? – 1952
50. The national forest policy aims at maintaining how much of the total geographical area under forests? – One-fifth
51. The Government of India has decided to declare which river a ‘National River’? – Ganga
52. Which ‘geographical indicators’ has not been recognised for patent protection? – Darjeeling Basmati
53. National Horticulture Mission was launched in which Five Year Plans? – Tenth Five Year Plan
54. ‘Twenty Point Programme’ (Beessutri Karyakrama) was first launched in which Year? – 1975
55. Who presides over the National Development Council of India? – Prime Minister of India
56. Which is an extra- constitutional and non-statutory body? – Planning Commission
57. Which experienced the fastest expansion during the plan in India? – Services
58. Primary emphasis during Second Plan was laid on the development of which industry? – Basic and Key industries
59. Who was the First Chairman of Planning commission of India? – Pt. Jawahar Lal Nehru
60. Whose name is associated with formulation of Planning Strategy in Second Five Year Plan? – Prasanta Chandra (P.C.) Mahalanobis
61. Which is the highest body that approves Five Years Plans in the country? – National Development Council
62. By whom was the Rolling Plan for backward country suggested? – Gunnar Myrdal
63. In which Five Year Plan, the main objective was the eradication of poverty? – Fifth Five Year Plan
64. Durgapur, Bhibei and Rourkela iron steel-plants were setup during which plan? – First
65. The iron and Steel plants of Rourkela and Durgapur were conceived under which plan? – Second Five Year Plan
66. The real introduction of Decentralized Planning in India was made for the first time during the which plan? – 9th Plan
67. Planning Commission was established in 1950 through which order? – An executive order
68. The slogen ‘Garibi Hatao’ (Poverty abolition) was given in which Five Year Plan? – Fifth plan
69. In which one of year ‘Rolling Plan’ was on operation in India? – 1978-79
70. The major emphasis in the First Five Year Plan was on which field? – Agriculture
71. In which Five Year Plan, Economic Development Rate was maximum? – Tenth Five Year Plan
72. Only one can be the ex-officio Chairman of the Planning Commission. Who is that? – Prime Minister
73. Mahalanobis Model has been associated with which Five Year Plan? – Second Five Year Plan
74. The Planning Commission of India was constituted in which year? – 1950
75. Which Plan gave emphasis on removal of poverty for the first time? – Fifth
76. Which is not an objective of India’s economic planning? – Population Growth
77. The rolling plan concept in national planning was introduced by which government? – Janta Government
76. The Government has renamed NREGA scheme and the name associated with which person? – Mahatma Gandhi
77. District Primary Education Programme was initiated in which year? – 1994
78. To whose help STEP is the abbreviated name of the welfare programme? – Woman
79. On which basis has the planning, commission defined ‘Poverty line’ in rural areas in India? – 2400 k cal
80. The National Rural Employment Scheme was launched throught out the country from which date? – 1-4-2008
81. which is the developed the concept of Human Development Index? – Mehboob-ul-Haq
82. National Rural Health Mission (NRHM) was launched in which year? – 2005
83. Swamjayanti Gram Swarojgar Yojana came into being in which year? – April, 1999
84. In terms of Human Development Index which is the most developed State of India? – Kerala
85. Which programme announced by the Prime Minister for the minorities in India? – 15 Point Programme
86. ‘Food for Work Programme’ was introduced during which Five Year Plans? – V
87. In which Five Year Plan, the main objective was the eradication of poverty? – Fifth Five Year Plan
88. While calculating HDI, what are the maximum value for Life Expectancy at birth (years) taken? – 85 and 25
89. In terms of Human Development Index, India falls under which category? – Very Low
90. Which is the standard of living in a country represented? – Per Capita Income
91. Which is a project to develop watersheds in India? – NWDPRA
92. Which plan gave emphasis on removal of poverty of the first time? – Fifth
93. In India, the Community Development Programme was started on which date? – October 2, 1952
94. Which represents ‘I’ in the abbreviation IRDP? – Integrated
95. National Rural Employment Guarantee Act (NREGA) does not promote? – Promote inclusive growth
96. Poverty level in India is established on the basis of which expenditure? – House-hold consumer expenditure
97. Mid-Day Meal is a scheme to provide nutrious food to which childran? – school going children
98. What is NOT the source of revenue of Central Government? – Agriculture Income Tax
99. Which is the largest single source of the Government’s earning from tax revenue? – Central excise
100. Which taexs/duties is NOT under the jurisdiction of the Central Government? – Land Revenue
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1. Which sector of Indian Economy has shown remarkable expansion during the last decade? – Tertiary Sector
2. Hindu Rate of growth refers to the rate of growth of which sector? – GDP
3. In India, Hindu Rate of Growth is associated with which income? – National Income
4. What is the base year for computation of National Income in India? – 1993-94
5. As the economy develops, what happens in the share of the tertiary sector in the GDP? – Increases
6. Who coined the term ‘Hindu rate of growth’ for Indian Economy? – Raj Krishna
7. Who wrote a book describing the theory of economic drain of India during British rule? – Dadabhai Naoroji
8. Which is definitely a major indication of the State of the economy of a country? – Rate of GDP growth
9. Where is the Indian Sugarcane Research Institute situated? – Lucknow
10. The impact of Green Revolution was felt most in the production of which crop? – Wheat
11. Which is the apex organisation of Marketing Co-operatives at the national level? – NAFED
12. Under which Five Year Plan agriculture register a negative growth? – Third
13. Where is the Central Food Technological Research Institute (CFTRI) situated? – Mysore
14. Where first Agriculture University of India was established? – Pantnagar
15. In which year was the Food Corporation of India (FCI) set up? – 1965
16. Which bank provides the largest credit to agriculture and allied sectors? – Commercial Banks
17. Which is the apex institution in the sphere of Agriculture credit? – NABARD
18. The Bonded Labour System (Abolition) Act was legislated in which year? – 1976
19. The Green Revolution in India was the outcome of the efforts of which person? – M. S. Swaminathan
20. Who is known as Father of White Revolution in India? – V. Kurien
21. Where is the Central Rice Research Institute located? – Cuttack
22. Dr. M. S. Swaminathan has distinguished himself in which fields? – Agriculture
23. Agriculture sector directly employs what percentages of labour force in India? – 65 %
24. Which method of soil conservation is most effective in arid areas? – Shelter belt
25. Which state is the most industrially advanced State in India? – Maharashtra
26. Industrial licensing was finally abolished (with a few exception) in which policy? – Industrial Policy, 1991
27. First Industrial Policy of free India was announced in which year? – 1948
28. Who was the Chairman of the National Commission for Enterprises in the Unorganised Sector? – Arjun Sengupta
29. Commercial paper is a source of credit for which industry? – Corporate Industry
30. Which car companies has launched a small cheaper car ‘Nano’? – Tate Motors Ltd.
31. What is the classification of industries on the basis of raw-materials? – Primary and Secondary
32. Which is the biggest enterprise of the Government of India? – Railway
33. Raurkela Steel Plant was set up with the assistance from which country? – West Germany
34. In India, liberal Industrial Policy was adopted in which year? – 1991
35. Bhilai Steel Plant is the collaborative project of Indian Government and which other country? – Soviet Union
36. Since when disinvestment started in public enterprises? – 1991-92
37. Which entity holds the Number 1 position among Indian international trading company? – MMTC
38. Which one of the following Indian States does not keep its own High Court? – Manipur
39. Which one of the following is not the main jurisdiction of the High Court of a State? – Advisory Jurisdiction
40. Omkar Goswami Committee was set up by the Government for examining the issue of which matter? – Industrial sickness
41. The licensing policy for the industries drew strength from which act? – Industrial Act, 1951
42. Where is the Forest Reserve Institute of India located? – Dehradun
43. Which State in’ India is estimated to have the largest coal reserves in India? – Jharkhand
44. Which is a ‘Hot Spot’ for biological diversity in India? – Sundarban
45. Major coalfields of India are located in the river valley of – Damodar
46. Which one of the following is the highest gravity dam which river? – Bhakra Dam
47. What is the minimum forest cover to maintain ecological balance in the plains? – 33%
48. Which is the longest irrigation canal in India called? – Indira Gandhi Canal
49. When was the first National Forest Policy issued by the Government of India? – 1952
50. The national forest policy aims at maintaining how much of the total geographical area under forests? – One-fifth
51. The Government of India has decided to declare which river a ‘National River’? – Ganga
52. Which ‘geographical indicators’ has not been recognised for patent protection? – Darjeeling Basmati
53. National Horticulture Mission was launched in which Five Year Plans? – Tenth Five Year Plan
54. ‘Twenty Point Programme’ (Beessutri Karyakrama) was first launched in which Year? – 1975
55. Who presides over the National Development Council of India? – Prime Minister of India
56. Which is an extra- constitutional and non-statutory body? – Planning Commission
57. Which experienced the fastest expansion during the plan in India? – Services
58. Primary emphasis during Second Plan was laid on the development of which industry? – Basic and Key industries
59. Who was the First Chairman of Planning commission of India? – Pt. Jawahar Lal Nehru
60. Whose name is associated with formulation of Planning Strategy in Second Five Year Plan? – Prasanta Chandra (P.C.) Mahalanobis
61. Which is the highest body that approves Five Years Plans in the country? – National Development Council
62. By whom was the Rolling Plan for backward country suggested? – Gunnar Myrdal
63. In which Five Year Plan, the main objective was the eradication of poverty? – Fifth Five Year Plan
64. Durgapur, Bhibei and Rourkela iron steel-plants were setup during which plan? – First
65. The iron and Steel plants of Rourkela and Durgapur were conceived under which plan? – Second Five Year Plan
66. The real introduction of Decentralized Planning in India was made for the first time during the which plan? – 9th Plan
67. Planning Commission was established in 1950 through which order? – An executive order
68. The slogen ‘Garibi Hatao’ (Poverty abolition) was given in which Five Year Plan? – Fifth plan
69. In which one of year ‘Rolling Plan’ was on operation in India? – 1978-79
70. The major emphasis in the First Five Year Plan was on which field? – Agriculture
71. In which Five Year Plan, Economic Development Rate was maximum? – Tenth Five Year Plan
72. Only one can be the ex-officio Chairman of the Planning Commission. Who is that? – Prime Minister
73. Mahalanobis Model has been associated with which Five Year Plan? – Second Five Year Plan
74. The Planning Commission of India was constituted in which year? – 1950
75. Which Plan gave emphasis on removal of poverty for the first time? – Fifth
76. Which is not an objective of India’s economic planning? – Population Growth
77. The rolling plan concept in national planning was introduced by which government? – Janta Government
76. The Government has renamed NREGA scheme and the name associated with which person? – Mahatma Gandhi
77. District Primary Education Programme was initiated in which year? – 1994
78. To whose help STEP is the abbreviated name of the welfare programme? – Woman
79. On which basis has the planning, commission defined ‘Poverty line’ in rural areas in India? – 2400 k cal
80. The National Rural Employment Scheme was launched throught out the country from which date? – 1-4-2008
81. which is the developed the concept of Human Development Index? – Mehboob-ul-Haq
82. National Rural Health Mission (NRHM) was launched in which year? – 2005
83. Swamjayanti Gram Swarojgar Yojana came into being in which year? – April, 1999
84. In terms of Human Development Index which is the most developed State of India? – Kerala
85. Which programme announced by the Prime Minister for the minorities in India? – 15 Point Programme
86. ‘Food for Work Programme’ was introduced during which Five Year Plans? – V
87. In which Five Year Plan, the main objective was the eradication of poverty? – Fifth Five Year Plan
88. While calculating HDI, what are the maximum value for Life Expectancy at birth (years) taken? – 85 and 25
89. In terms of Human Development Index, India falls under which category? – Very Low
90. Which is the standard of living in a country represented? – Per Capita Income
91. Which is a project to develop watersheds in India? – NWDPRA
92. Which plan gave emphasis on removal of poverty of the first time? – Fifth
93. In India, the Community Development Programme was started on which date? – October 2, 1952
94. Which represents ‘I’ in the abbreviation IRDP? – Integrated
95. National Rural Employment Guarantee Act (NREGA) does not promote? – Promote inclusive growth
96. Poverty level in India is established on the basis of which expenditure? – House-hold consumer expenditure
97. Mid-Day Meal is a scheme to provide nutrious food to which childran? – school going children
98. What is NOT the source of revenue of Central Government? – Agriculture Income Tax
99. Which is the largest single source of the Government’s earning from tax revenue? – Central excise
100. Which taexs/duties is NOT under the jurisdiction of the Central Government? – Land Revenue
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1. What is the mean of Hardening interest rate? – Interest rate is increasing
2. In which year did Indian Special Economic Rules amendment come? – 2006
3. In which year was FEMA (Foreign Exchange Management Act) finally implemented? – 2002
4. Where is the shore-based steel plant located? – Vishakhapatnam
5. Which five year plans witnessed the highest growth rate in India? – Eleventh plan
6. What is an increase in the Bank Rate generally? – Central Bank is following a tight money policy
7. By which method the National Income in India is estimated? – Product and income methods
8. Stagflation refers to a situation by which is this characterized? – Inflation and rising unemployment
9. Of which branch is externality theory is the basic theory of Economics? – Environomics
10. To which market situation does Bilateral monopoly refer? – One seller and one buyer
11. A portion of an individual's total income is spent on consumption. What is the remaining part called? – Savings
12. According to Ricardo, why does rent for the land arises? – Because of difference in soil quality
13. By which name a company which arranges capital by selling its share in the market? – Joint stock company
14. What is the mean of disguised unemployment generally? – Marginal productivity of labour is zero
15. To obtain full benefits of demographic dividend, what should India do? – Promoting skill development
16. To which is the national income of a country for a period equal? – Money value of final goods and services produced
17. Supply of money remaining the same when there is an increase in demand for money, what will be? – An increase in the rate of interest
18. Which committee is related to the estimation of poverty in India? – Suresh Tendulkar Committee
19. What is the most appropriate measure of a country's economic growth? – Per Capita Product (PCP)
20. What do we calll the The demand for a product which is wanted for itself? – Direct or Autonomous Demand
21. Into howmany sectors is Social accounting system in India classified– Public sector, Private sector and Joint sector
22. In which terms the Government of India refers to the absolute poverty line ? – Household consumption
23. In order to provide pensions to workers of the unorganized sector, which scheme has been launched by the Government? – Swavalamban
24. By which commission in India, mergers and acquisition of firms are regulated? – Competition Commission of India
25. Which item has maximum weight in wholesale price index in India? – Manufactured product
26. In India, why has the price of petroleum products been deregulated mainly? – Reduce the burden of subsidies given to the oil companies
27. According to the Companies Act, 2013, what does the 'nominal capital' imply? – The maximum amount of share capital of a company
28. Which economist believed that unemployment is impossible and the market mechanism has a built-in regulatory system to meet any ups and downs– J. B. Say
29. How is the effect of a government surplus upon the equilibrium level of NNP (Net National Product) substantially? – Same as an increase in consumption
30. What will be, if the average total cost is declining? – The marginal cost must be less than the average total cost
*****************************************
1. What is the mean of Hardening interest rate? – Interest rate is increasing
2. In which year did Indian Special Economic Rules amendment come? – 2006
3. In which year was FEMA (Foreign Exchange Management Act) finally implemented? – 2002
4. Where is the shore-based steel plant located? – Vishakhapatnam
5. Which five year plans witnessed the highest growth rate in India? – Eleventh plan
6. What is an increase in the Bank Rate generally? – Central Bank is following a tight money policy
7. By which method the National Income in India is estimated? – Product and income methods
8. Stagflation refers to a situation by which is this characterized? – Inflation and rising unemployment
9. Of which branch is externality theory is the basic theory of Economics? – Environomics
10. To which market situation does Bilateral monopoly refer? – One seller and one buyer
11. A portion of an individual's total income is spent on consumption. What is the remaining part called? – Savings
12. According to Ricardo, why does rent for the land arises? – Because of difference in soil quality
13. By which name a company which arranges capital by selling its share in the market? – Joint stock company
14. What is the mean of disguised unemployment generally? – Marginal productivity of labour is zero
15. To obtain full benefits of demographic dividend, what should India do? – Promoting skill development
16. To which is the national income of a country for a period equal? – Money value of final goods and services produced
17. Supply of money remaining the same when there is an increase in demand for money, what will be? – An increase in the rate of interest
18. Which committee is related to the estimation of poverty in India? – Suresh Tendulkar Committee
19. What is the most appropriate measure of a country's economic growth? – Per Capita Product (PCP)
20. What do we calll the The demand for a product which is wanted for itself? – Direct or Autonomous Demand
21. Into howmany sectors is Social accounting system in India classified– Public sector, Private sector and Joint sector
22. In which terms the Government of India refers to the absolute poverty line ? – Household consumption
23. In order to provide pensions to workers of the unorganized sector, which scheme has been launched by the Government? – Swavalamban
24. By which commission in India, mergers and acquisition of firms are regulated? – Competition Commission of India
25. Which item has maximum weight in wholesale price index in India? – Manufactured product
26. In India, why has the price of petroleum products been deregulated mainly? – Reduce the burden of subsidies given to the oil companies
27. According to the Companies Act, 2013, what does the 'nominal capital' imply? – The maximum amount of share capital of a company
28. Which economist believed that unemployment is impossible and the market mechanism has a built-in regulatory system to meet any ups and downs– J. B. Say
29. How is the effect of a government surplus upon the equilibrium level of NNP (Net National Product) substantially? – Same as an increase in consumption
30. What will be, if the average total cost is declining? – The marginal cost must be less than the average total cost
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