Economics GK Quiz with Answers

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NEW Economics GK Quiz with Answers

Welcome to our Economics GK Quiz with Answers blog, where you can challenge your understanding of economic principles, theories, and concepts. Whether you're a student, a professional, or just someone intrigued by the world of economics, this Economics GK Quiz with Answers is designed to entertain and educate. Test your knowledge and discover interesting facts about the global economy, fiscal policies, market structures, etc. Each question is followed by the correct answer, providing an opportunity for learning as you go along. Let's dive into the fascinating world of economics and see how well you fare!

Economics GK Quiz with Answers

In this article Economics GK Quiz with Answers, we are sharing the latest and important Indian Economics Questions and answers related to principles theories, concepts, income tax, GDP etc for those aspirants who are preparing for upcoming competitive exams.

Also, Read Latest Current Affairs Questions 2023: Current Affairs Today

Test your knowledge and stay ahead with our General Knowledge Mock Test and Current Affairs Mock Test– a perfect way to challenge yourself and stay updated!

Economics GK Quiz with Answers

Q :  

In which field did the RN Malhotra committee submit its report for reforms?

(A) Banking Sector

(B) Tax Reform

(C) Sick Industry

(D) Insurance sector


Correct Answer : D
Explanation :

A committee was set up in 1993 under the chairmanship of R.N. Malhotra, former Governor of the Reserve Bank of India, to make recommendations for reforms in the insurance sector.


Q :  

What is the number of recognized stock exchanges in India?

(A) 19

(B) 20

(C) 21

(D) 23


Correct Answer : D
Explanation :

There are 23 stock exchanges in India. Among them, two are national-level stock exchanges namely Bombay Stock exchange (BSE) and National Stock Exchange (NSE). The rest 21 are Regional Stock Exchanges (RSEs).


Q :  

By whom effective control is exercised over the stock market?

(A) B.F.E.R.A

(B) B.I.F.R.

(C) S.E.B.I.

(D) M.R.T.P


Correct Answer : C
Explanation :

The stock market in India is regulated by the Securities and Exchange Board of India (SEBI). It was established under the SEBI Act, 1992.


Q :  

Which of the following is the most important source sector of NRI remittances in India?

(A) North America

(B) Middle East

(C) South America

(D) Europe


Correct Answer : A
Explanation :

with Malaysia, Singapore and the United States being the largest sources of remittance. Research work on remittances to India is listed in the India Migration Bibliography.


Q :  

What is such an economy called which does not have any connection with the rest of the world?

(A) Closed economy

(B) Free Economy

(C) Mixed economy

(D) Socialist


Correct Answer : A
Explanation :

When a country claims to be self reliant, it is said to be closed economy. In closed economy, country produces every thing within the country what their citizens need. It neither imports nor exports, that means it does not trade with any other nation.


Q :  

Geeta Gopinath has taken over as Chief Economist of IMF, tell who is the Chief Economist of IMF so far?

(A) 11th

(B) 10th

(C) 15th

(D) 18th


Correct Answer : A
Explanation :
UC-Berkeley's Pierre-Olivier Gourinchas to replace Gita Gopinath as IMF's chief economist.


Q :  

The oldest stock exchange in India is the?

(A) Delhi Stock Exchange

(B) National Stock Exchange

(C) OTCEI

(D) Bombay Stock Exchange


Correct Answer : D
Explanation :

The correct answer is BSE. The BSE (Bombay stock exchange) is not only India's oldest stock exchange but it is the oldest stock exchange in Asia.


Q :  

When was the AGMARK Act implemented in India?

(A) 1937

(B) 1952

(C) 1947

(D) 1965


Correct Answer : A
Explanation :

The AGMARK is legally enforced in India by the Agricultural Produce (Grading and Marking) Act of 1937 (and ammended in 1986).


Q :  

With what is the term 'Bull and Bear' related?

(A) Foreign Exchange Reserve

(B) Stock market

(C) Internal trade

(D) Banking


Correct Answer : B
Explanation :

The terms “bull and bear” is related to the Stock market. They are a speculator who buys for the settlement with a view of selling at some future date at a higher price and gaining the difference.


Q :  

Which of the following is the central bank of the Government of India?

(A) Cooperative Bank

(B) Reserve Bank of India

(C) Central Bank of India

(D) State Bank of India


Correct Answer : B
Explanation :
The Reserve Bank of India is India's central bank.


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    About author

    Rajesh Bhatia

    A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.

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