Indian Economy Practice Question and Answer

Q:

What is the name of the currency of Bangladesh?

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  • 1
    Rupee
    Correct
    Wrong
  • 2
    Dollar
    Correct
    Wrong
  • 3
    Taka
    Correct
    Wrong
  • 4
    Dinar
    Correct
    Wrong
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Answer : 3. "Taka"

Q:

When the price of a commodity falls, we can expect:

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  • 1
    The supply of it to increase
    Correct
    Wrong
  • 2
    The demand for it to fall
    Correct
    Wrong
  • 3
    The demand for it to stay constant
    Correct
    Wrong
  • 4
    The demand for it to increase
    Correct
    Wrong
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Answer : 4. "The demand for it to increase"

Q:

Which currency is legally recognized in our country?

4042 0

  • 1
    Good money
    Correct
    Wrong
  • 2
    Credit-currency
    Correct
    Wrong
  • 3
    letter money
    Correct
    Wrong
  • 4
    Check
    Correct
    Wrong
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Answer : 3. "letter money"

Q:

This personality is known as the Father of Economics. Can you identify him from the given options?

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  • 1
    J.M. Keynes
    Correct
    Wrong
  • 2
    Adam Smith
    Correct
    Wrong
  • 3
    Abraham Maslow
    Correct
    Wrong
  • 4
    J.K. Galbraith
    Correct
    Wrong
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Answer : 2. "Adam Smith"

Q: Which of the following activities are examples of data gathering? 3927 0

  • 1
    Counting the votes in an election to determine the next governor
    Correct
    Wrong
  • 2
    Making a pie chart showing the kinds of television sets owned by people in a sample of 1,000
    Correct
    Wrong
  • 3
    Finding the mean weight of cancer patients in a study
    Correct
    Wrong
  • 4
    Using the results of a mathematical model to predict the next day's weather
    Correct
    Wrong
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Answer : 1. "Counting the votes in an election to determine the next governor"
Explanation :

Answer: A) Counting the votes in an election to determine the next governor Explanation: Option A) "Counting the votes in an election to determine the next governor"  is the only one where data gathering is done.   In all other options, data is already collected and now analyzing of data is going on.

Q:

Indian economy has a 'loose period'

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  • 1
    March – April
    Correct
    Wrong
  • 2
    September – December
    Correct
    Wrong
  • 3
    January – June
    Correct
    Wrong
  • 4
    February – April
    Correct
    Wrong
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Answer : 3. "January – June"

Q:

Subsidies mean that is

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  • 1
    payment by government for purchase of goods and services
    Correct
    Wrong
  • 2
    payment made by business enterprises to factors of production
    Correct
    Wrong
  • 3
    payment made by companies to shareholders
    Correct
    Wrong
  • 4
    payment made by the government to business enterprises, without buying any goods and services
    Correct
    Wrong
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Answer : 4. "payment made by the government to business enterprises, without buying any goods and services"

Q:

Process making of bricks by using soil comes under which sector of economic activity?

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  • 1
    Tertiary sector
    Correct
    Wrong
  • 2
    Primary sector
    Correct
    Wrong
  • 3
    Secondary sector
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 3. "Secondary sector"

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