Indian Economics General Knowledge Questions and Answers

Indian Economics General Knowledge Questions and Answers

Every student wants to unravel easy Indian Economics General Knowledge Questions in a very competitive exam within a given time duration so that they search for easy Indian Economics General Knowledge Questions for maximum practice. Are you furthermore may attempting to find questions and answers associated with Indian Economy General Knowledge Questions that are included in GK Questions, then this blog can encourage be very helpful.

Economics General Knowledge

Here, we are providing easy Indian Economics General Knowledge Questions and Answers associated with competitive exams, with the assistance of which you'll be able to check your performance with right and wrong answers by solving Indian Economics General Knowledge at your level and checking your result. After that, you'll also fathom your status within the competitive exam.

Students can quickly get free General Knowledge Mock Test and Current Affairs Mock Test on this platform for online exam practice to obtain good marks in the competitive exams.

Indian Economics General Knowledge Questions and Answers          

  Q :  

How many member is in the GST Council of India?

(A) 33

(B) 34

(C) 36

(D) 27

Correct Answer : A

Q :  

The gradation and standardization of agricultural products are conducted through

(A) Food Corporation of India

(B) Directorate of Marketing and Inspection

(C) Indian Standards Institution

(D) Central Statistical Organization

Correct Answer : B

Q :  

What kind of economy is there in India?

(A) socialist

(B) Mixed

(C) Free

(D) Gandhian

Correct Answer : B

Q :  

Deficit financing means the government borrows money from the – 

(A) International Monetary Fund

(B) Ministry of Finance

(C) Reserve Bank of India

(D) World Trade Organization

Correct Answer : C

Q :  

Which among the following formulates fiscal policy? 


(B) Finance Ministry


(D) Planning Commission

Correct Answer : A

Q :  

The Economic development depends on-

(A) Natural resources

(B) Capital formation

(C) Size of the market

(D) All of these

Correct Answer : D

Q :  

Value of Total Goods and Services produced in a country is its _____________ .

(A) Gross Domestic Product

(B) Gross Revenue Income

(C) Total Goods Revenue

(D) Total Income

Correct Answer : A

Q :  

What is the demand for labor called?

(A) Market demand

(B) Direct demand

(C) Derived demand

(D) Factory demand

Correct Answer : C

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 :  

The process of curing inflation by reducing money supply is called 

(A) Cost - push inflation

(B) Demand - pull inflation

(C) Disinflation

(D) Reflation

Correct Answer : C

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    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

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