Indian Economy Questions Practice Question and Answer

Q:

Which Bank has launched its Multi Option Payment Acceptance Device (MOPAD) for digital payments?

452 1

  • 1
    PNB
    Correct
    Wrong
  • 2
    SBI
    Correct
    Wrong
  • 3
    HDFC
    Correct
    Wrong
  • 4
    Yes Bank
    Correct
    Wrong
  • 5
    ICICI
    Correct
    Wrong
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Answer : 2. "SBI"

Q:

The basic characteristic of a capitalistic economy is–

445 0

  • 1
    absence of monopoly
    Correct
    Wrong
  • 2
    large-scale production in primary industries
    Correct
    Wrong
  • 3
    full employment
    Correct
    Wrong
  • 4
    the private ownership of the means of production
    Correct
    Wrong
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Answer : 4. "the private ownership of the means of production"

Q:

Which is one of the factors of subsistence used to measure the Poverty Line in India?

441 0

  • 1
    Equality
    Correct
    Wrong
  • 2
    Education
    Correct
    Wrong
  • 3
    Internet
    Correct
    Wrong
  • 4
    Transportation
    Correct
    Wrong
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Answer : 2. "Education"

Q:

Which of the following Economic survey was also famous as Pink Economic survey?

436 0

  • 1
    Economic survey 2015-16
    Correct
    Wrong
  • 2
    Economic survey 2016-17
    Correct
    Wrong
  • 3
    Economic survey 2017-18
    Correct
    Wrong
  • 4
    Economic survey 2019-2020
    Correct
    Wrong
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Answer : 3. "Economic survey 2017-18"

Q:

Which of the following country is not included in the category of top-5 gold holder countries of the world?

436 0

  • 1
    China
    Correct
    Wrong
  • 2
    America
    Correct
    Wrong
  • 3
    Germany
    Correct
    Wrong
  • 4
    Italy
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "China"

Q:

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

429 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"

Q:

Which one of the following taxes is not a direct tax?

427 0

  • 1
    Sales tax
    Correct
    Wrong
  • 2
    Estate duty
    Correct
    Wrong
  • 3
    Gift tax
    Correct
    Wrong
  • 4
    Wealth tax
    Correct
    Wrong
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Answer : 1. "Sales tax "

Q:

Which of the following statements is correct?

416 0

  • 1
    Most workers will work for less than their reservation wage
    Correct
    Wrong
  • 2
    The reservation wage is the maximum amount of any firm will pay for a worker
    Correct
    Wrong
  • 3
    Economic rent is the difference between the market wage and the reservation wage
    Correct
    Wrong
  • 4
    Economic rent is the amount one must pay to enter a desirable labour market
    Correct
    Wrong
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Answer : 3. "Economic rent is the difference between the market wage and the reservation wage"

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