Indian Economics General Knowledge Questions and Answers
Small farmers are defined in the country as those farmers who have holding area-
(A) Less than one hectare
(B) One to two hectares
(C) two to three hectares
(D) three to four hectares
Correct Answer : B
Who gave priority to the Second Five Year Plan?
(A) Agriculture
(B) Services
(C) Heavy Industries
(D) Foreign Trade
Correct Answer : C
What is the name of the amount from which the business is started?
(A) Cash
(B) Capital
(C) Property
(D) None of these
Correct Answer : B
In which account will the expenditure on the installation of new machinery be disbursed?
(A) Cash account
(B) Machinery Account
(C) Profit or loss
(D) Installation expense account
Correct Answer : B
Whose Arthashastra was composed?
(A) Chandragupta
(B) Maurya Alexander
(C) Chanakya
(D) None of these
Correct Answer : C
Which of the following will cause property prices to fall?
(A) More liquidity in the economy
(B) Reduction in reverse repo rate by RBI
(C) Increase in reverse repo rate by RBI
(D) Demand and Supply
Correct Answer : D
Explanation :
Demand and Supply: For any given area, demand in the real estate will always be inversely proportional to supply. If there is a decrease in supply, prices will obviously go up for the existing projects. With an overall increase in the number of unsold housing projects, prices will go down for each one of them.
Who among the following was called the father of "India's political dissatisfaction"?
(A) Dadabhai Naoroji
(B) Sardar Bhagat Singh
(C) Mahatma Gandhi
(D) Bal Gangadhar Tilak
Correct Answer : B
Which of the following industries has the highest labor force in India?
(A) Cement Industry
(B) textile industry
(C) Jute Industry
(D) Iron-steel industry
Correct Answer : B
Explanation :
In 2021, 43.96 percent of the workforce in India were employed in agriculture, while the other half was almost evenly distributed among the two other sectors, industry and services. While the share of Indians working in agriculture is declining, it is still the main sector of employment.
Who prepared the first estimate of national income for the country?
(A) Central Statistical Organization
(B) National Sample Survey Organization
(C) National Income Committee
(D) Dadabhai Naoroji
Correct Answer : D
Do the poor save more than the rich?
(A) Relatively large portion of their income
(B) his entire income
(C) a relatively small portion of their income
(D) equal share of his income
Correct Answer : C
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Rajesh Bhatia
A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.
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