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 Indian Economy Questions

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Q:

Gold Mines in India are located mainly at

A) Kolar B) Raniganj
C) Jadugoda D) Veeranam
 
Answer & Explanation Answer: A) Kolar

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Q:

Who propounded the Market law?

A) J. B. Say B) T. R. Malthus
C) Adam Smith D) David Ricardo
 
Answer & Explanation Answer: A) J. B. Say

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8 5997
Q:

Economics deals primarily with the concept of

A) Poverty B) Money
C) Scarcity D) Banking
 
Answer & Explanation Answer: C) Scarcity

Explanation:

Economics_deals_primarily_with_the_concept_of1557729122.png image

 

Economics deals primarily with the concept of Scarcity and choice. Scarcity is the limited availability of a commodity, which may be in demand in the market. Scarcity also includes an individual's lack of resources to buy commodities.

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Q:

What is the name of the group of agriculture exporting countries formed in 1986, that has put agriculture on the multi lateral trade agenda at the WTO?

A) The Cairns Group B) ASEAN
C) SCANA D) NAFTA
 
Answer & Explanation Answer: C) SCANA

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31 5976
Q:

The First Five Year Plan was based on ___________.

A) Herold Domar Model B) P.C . Mahalanobis Model
C) Both the Above D) None of the above
 
Answer & Explanation Answer: A) Herold Domar Model

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9 5967
Q:

A situation where we have people whose level of income is not sufficient to meet the minimum consumption expenditure is considered as

A) Absolute Poverty B) Relative Poverty
C) Urban Poverty D) Rural Poverty
 
Answer & Explanation Answer: A) Absolute Poverty

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5 5946
Q:

Who is known as the father of Indian Economics?

A) Gopal Krishna Gokhale B) Bal Gangadhar Tilak
C) Adam Smith D) M G Ranade
 
Answer & Explanation Answer: C) Adam Smith

Explanation:

Mahadev Govind Ranade is known as the father of Indian Economics. M G Ranade advocated social reforms such as widow re-marriage, liberation of women & emancipation of the oppressed classes.

He was Known to be the mentor & political guru of Gopal Krishna Gokhale & Bal Gangadhar Tilak.

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10 5778
Q:

What is the Color of Rs.50 bank notes in Mahatma Gandhi (New) series introduced recently ?

A) Magenta B) Stone Grey
C) Fluorescent Blue D) Ray blue
 
Answer & Explanation Answer: C) Fluorescent Blue

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