Indian Economics GK Questions and Answers
The study of factor pricing is alternatively called the theory of
(A) functional distribution
(B) personal distribution
(C) Income distribution
(D) wealth distribution
Correct Answer : A
Price theory is also known as
(A) Macro Economics
(B) Development Economics
(C) Public Economics
(D) Micro Economics
Correct Answer : D
The gradation and standardization of agricultural products are conducted through
(A) Food Corporation of India
(B) Directorate of Marketing and Inspection
(C) Indian Standards Institution
(D) Central Statistical Organization
Correct Answer : B
Excise duty on a commodity is payable with reference to its
(A) production , transportation and sale
(B) production
(C) production and sale
(D) production and transportation
Correct Answer : B
Which is the most essential function of an entrepreneur?
(A) Marketing
(B) Risk bearing
(C) Supervision
(D) Management
Correct Answer : B
Which of the following is a better measurement of Economic Development?
(A) NNP
(B) Per capita income
(C) GDP
(D) Disposable income
Correct Answer : A
Inflation in India is measured on which of the following indexes / indicators?
(A) Gross Domestic Product (GDP)
(B) Wholesale Price Index (WPI)
(C) Cost of Living Index (CLI)
(D) Consumer Price Index (CPI)
Correct Answer : B
According to law of supply, if everything is equal then an increase in price results in ________.
(A) Decrease in quantity supplied
(B) Increase in quantity supplied
(C) Decrease in quantity demanded
(D) Increase in quantity demanded
Correct Answer : B
India's first - ever national police museum will establish in which city?
(A) Nagpur
(B) Kolkata
(C) Chennai
(D) Delhi
Correct Answer : D
The Indian economy can be appropriately described as a:
(A) Traditional economy
(B) Mixed economy
(C) Capitalist economy
(D) Socialist economy
Correct Answer : B
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