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Interesting Economic Questions for Students

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Q :  

If the rate of change in demand for a commodity is more rapid than that of its price, then what will that demand be?

(A) perfectly inelastic

(B) elastic

(C) perfectly elastic

(D) inelastic

Correct Answer : B

Q :  

Who has the maximum contribution to the national income of India?

(A) Primary sector

(B) Secondary Sector

(C) Tertiary Sector

(D) Equal to all

Correct Answer : C

Q :  

Which sector has the least contribution in the national income of India?

(A) Primary sector

(B) Secondary Sector

(C) Tertiary Sector

(D) None of these

Correct Answer : B

Q :  

Which is the government agency responsible for estimating national income in India?

(A) Indian Statistical Organization

(B) Central Statistical Organization

(C) Organization Reserve Bank of India

(D) None of these

Correct Answer : B

Q :  

Is there a committee related to Public Distribution System?

(A) Sodhani Committee

(B) Malegam Committee

(C) Venugopal Committee

(D) None of these

Correct Answer : C

Q :  

If an increase in the price of one commodity leads to a decrease in the demand for another commodity, then what will the commodity be called?

(A) competitor

(B) assistant

(C) complimentary

(D) complementary

Correct Answer : C

Q :  

Which of the following crops is grown in India more than in all the other countries?

(A) Wheat

(B) Cotton

(C) Sugarcane

(D) Rice

Correct Answer : C

Q :  

Which crop is the maximum agricultural land in India?

(A) Rice

(B) Cotton

(C) Maize

(D) Wheat

Correct Answer : A

Q :  

The country is the largest producer of coarse cereals in the world.

(A) India

(B) Japan

(C) Russia

(D) China

Correct Answer : A

Q :  

Which year Foreign Exchange Management Act (FEMA) came into effect?

(A) 1999

(B) 2000

(C) 2002

(D) 2003

Correct Answer : D

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