Indian Economy Practice Question and Answer

Q:

Which of the following is considered a capital expense?

635 0

  • 1
    Pension  
    Correct
    Wrong
  • 2
    Payment of salaries  
    Correct
    Wrong
  • 3
    Subsidies
    Correct
    Wrong
  • 4
    Construction of school buildings
    Correct
    Wrong
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Answer : 4. "Construction of school buildings"
Explanation :

1. Capital expenditure is money spent by the government on the development of machinery, equipment, buildings, health facilities, education etc.

2. It also includes expenditure by the government on the acquisition of fixed assets like land and investments which give future profits or dividends.

3. Creation of assets as well as repayment of loans is also capital expenditure, as it reduces liability.

Q:

The demand curve of a firm under perfect competition is:

634 1

  • 1
    horizontal to OX-axis
    Correct
    Wrong
  • 2
    negative slope
    Correct
    Wrong
  • 3
    positive slope
    Correct
    Wrong
  • 4
    U-shaped
    Correct
    Wrong
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Answer : 1. "horizontal to OX-axis"

Q:

Which of the following states has more tea plantations?

634 0

  • 1
    Aasam
    Correct
    Wrong
  • 2
    Bihar
    Correct
    Wrong
  • 3
    Meghalaya
    Correct
    Wrong
  • 4
    Manipur
    Correct
    Wrong
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Answer : 1. "Aasam"

Q:

The financial year in the Indian economy runs from ______.

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  • 1
    1 January to 31 May
    Correct
    Wrong
  • 2
    1 April to 30 June
    Correct
    Wrong
  • 3
    1 June to 31 March
    Correct
    Wrong
  • 4
    1 April to 31 March
    Correct
    Wrong
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Answer : 4. "1 April to 31 March"

Q:

In view of which of the following are cottage and small scale industries necessary in the Indian economy?

621 0

  • 1
    employment generation
    Correct
    Wrong
  • 2
    Income Generation
    Correct
    Wrong
  • 3
    low cost
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "employment generation"

Q:

'Poot determines his own demand' - Whose statement is this?

618 0

  • 1
    Adam Smith
    Correct
    Wrong
  • 2
    J. B. Se.
    Correct
    Wrong
  • 3
    Marshal
    Correct
    Wrong
  • 4
    Ricardo
    Correct
    Wrong
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Answer : 2. "J. B. Se."

Q:

The Reserve Bank of India has an accounting year?

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  • 1
    October - September
    Correct
    Wrong
  • 2
    April-March
    Correct
    Wrong
  • 3
    July-June
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "April-March"

Q:

Of the following land uses, which is restricted to Special Economic Zones?

609 0

  • 1
    Information Technology Companies
    Correct
    Wrong
  • 2
    Free Trade Centres
    Correct
    Wrong
  • 3
    Educational Institutions
    Correct
    Wrong
  • 4
    Marketing Centres
    Correct
    Wrong
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Answer : 2. "Free Trade Centres"

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