Indian Economy Practice Question and Answer

Q:

Preparing butter and ghee for household consumption of own family is a part of –

493 0

  • 1
    Household investment production
    Correct
    Wrong
  • 2
    Industrial production
    Correct
    Wrong
  • 3
    Consumption
    Correct
    Wrong
  • 4
    Own Account Production
    Correct
    Wrong
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Answer : 4. "Own Account Production"
Explanation :

Explain: -Preparing butter and ghee by a family for household consumption is a part of own account production.

Q:

In which of the following years was the Reserve Bank of India nationalised?

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  • 1
    1935
    Correct
    Wrong
  • 2
    1949
    Correct
    Wrong
  • 3
    1927
    Correct
    Wrong
  • 4
    1965
    Correct
    Wrong
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Answer : 2. "1949"

Q:

When there is affect on economic activity of an specific country due to import and export, then such economy are called-

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  • 1
    Closed economy
    Correct
    Wrong
  • 2
    Open economy
    Correct
    Wrong
  • 3
    Agricultural economy
    Correct
    Wrong
  • 4
    Industrial economy
    Correct
    Wrong
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Answer : 2. "Open economy "
Explanation :

Explain: -When there is change in economy due to import and export, then such economy is called Open economy. India enacted Open economy in 1991.

Q:

Which among the following is not true about the work of Human Resource and Development (HRD)–

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  • 1
    Caste – System
    Correct
    Wrong
  • 2
    Youth and Sport
    Correct
    Wrong
  • 3
    Education
    Correct
    Wrong
  • 4
    Child Development
    Correct
    Wrong
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Answer : 1. "Caste – System "

Q:

The interest in infrastructure is less because. 

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  • 1
    There is large invest in it
    Correct
    Wrong
  • 2
    There needs a desired project
    Correct
    Wrong
  • 3
    Time to finish the infrastructure is more
    Correct
    Wrong
  • 4
    Profit is gained after long time.
    Correct
    Wrong
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Answer : 4. "Profit is gained after long time."
Explanation :

Infrastructure refers to the basic physical and organizational structures, facilities, systems, and services that are necessary for the functioning of a society, economy, or organization. It encompasses a wide range of essential components, including

Q:

The Indian census is generally held every ______. 

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  • 1
    tenth year
    Correct
    Wrong
  • 2
    fourth year
    Correct
    Wrong
  • 3
    fifth year
    Correct
    Wrong
  • 4
    seventh year
    Correct
    Wrong
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Answer : 1. "tenth year "

Q:

Which state of India has set up District Investment Promotion Agencies (DIPA)? 

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  • 1
    Karnataka
    Correct
    Wrong
  • 2
    Haryana
    Correct
    Wrong
  • 3
    Odisha
    Correct
    Wrong
  • 4
    West Bengal
    Correct
    Wrong
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Answer : 3. "Odisha "

Q:

The Surplus earned by a factor other thus land in the short period is referred as –

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  • 1
    Economic Rent
    Correct
    Wrong
  • 2
    Net Rent
    Correct
    Wrong
  • 3
    Quasi-Rent
    Correct
    Wrong
  • 4
    Super-Normal Rent
    Correct
    Wrong
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Answer : 3. "Quasi-Rent "
Explanation :

Explain: -The Surplus earned by a factor other than land in the short period is referred as quasi-rent.

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