Indian Economy Practice Question and Answer

Q:

Multinational firm is– 

511 0

  • 1
    A company started by foreign governments
    Correct
    Wrong
  • 2
    A single company established in different countries
    Correct
    Wrong
  • 3
    A company in India started by U.S. government
    Correct
    Wrong
  • 4
    A company started jointly by India and U.S. Ans.
    Correct
    Wrong
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Answer : 2. "A single company established in different countries "

Q:

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

503 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:

Which among the following is not the investment of goods & services? 

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  • 1
    Cost of machinery
    Correct
    Wrong
  • 2
    Increase in cost of raw goods
    Correct
    Wrong
  • 3
    Increasing department of company
    Correct
    Wrong
  • 4
    Cost of buying a house.
    Correct
    Wrong
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Answer : 3. "Increasing department of company "
Explanation :

Explain: -Increasing the department of company is not the matter of investment on goods and services


Q:

The Worldwide great depression happens in which year-

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  • 1
    1936
    Correct
    Wrong
  • 2
    1929
    Correct
    Wrong
  • 3
    1928
    Correct
    Wrong
  • 4
    1930
    Correct
    Wrong
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Answer : 3. "1928 "
Explanation :

Explain: -The duration of great depression was different for different for different countries, but the starting of depresion was 1929-32. The unemployment of America increase by +607%. Similiarly in Germany by +214% & France by +214%.

Q:

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

497 0

  • 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:

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

524 0

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

Q:

As per Census 2011, under which of the following ranges does the literacy rate in India fall? 

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  • 1
    90% - 95%
    Correct
    Wrong
  • 2
    50% - 55%
    Correct
    Wrong
  • 3
    30% - 35%
    Correct
    Wrong
  • 4
    70% - 75%
    Correct
    Wrong
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Answer : 4. "70% - 75%"

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 "

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