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Economics GK | Economics Questions and Answers for Competitive Exams

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Q :  

Which one of the following factors does not shift the demand curve for a product to the right?

(A) to advertise successfully

(B) fall in the price of its complements

(C) increase in the price of its substitutes

(D) fall in the price of the product itself

Correct Answer : B

Q :  

When do markets fail?

(A) when they equalize the surplus of all consumers and producers

(B) when they increase the surplus of all consumers and producers

(C) when they cannot maximize the surplus of all consumers and producers

(D) when they maximize the surplus of all consumers and producers

Correct Answer : C

Q :  

On what basis does the monopolist resort to price discrimination?

(A) Elasticity of supply

(B) elasticity of demand

(C) law of demand

(D) law of supply

Correct Answer : B

Q :  

What are the examples of car and diesel?

(A) demand

(B) supply

(C) joint supply

(D) joint demand

Correct Answer : D

Q :  On which great mahatma's name "National Rural Employment Guarantee Scheme?"

(A) Rajeev Gandhi

(B) Mahatama Gandhi

(C) Indira Gandhi

(D) Jawahar Lal Nehru

Correct Answer : B

Q :  

Who created the special drawing rights?

(A) International Bank for Reconstruction and Development

(B) Asian Development Bank

(C) International Monetary Fund

(D) World Trade Organization

Correct Answer : C

Q :  

At a premium of Re 1, what amount of insurance cover is provided by the Indian Railways to the passengers?

(A) One lakh

(B) Fifty thousand

(C) Ten lakh

(D) Five lakh thousand

Correct Answer : C

Q :  

Which Department of the Government of India launched ‘One Health’ pilot project in April 2022?

(A) Department of Consumer Affairs

(B) Department of Animal Husbandry and Dairying

(C) Department of Pharmaceuticals

(D) Department of Commerce

Correct Answer : B

Q :  

The financial year in the Indian economy runs from ______.

(A) 1 January to 31 May

(B) 1 April to 30 June

(C) 1 June to 31 March

(D) 1 April to 31 March

Correct Answer : D

Q :  

Who is a chairman of 15th Finance Commission of India?

(A) Nirmala Sitharaman

(B) Dr. Ashok Lahiri

(C) N. K. Singh

(D) Ajay Narayan

Correct Answer : C

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