Economics GK Questions Practice Question and Answer
8 Q: Following region contributes most to India's GDP?
1224 06052f5074999e13f2a6bcec2
6052f5074999e13f2a6bcec2- 1Primary Sectorfalse
- 2Tertiary sectortrue
- 3Secondary sectorfalse
- 4None of thesefalse
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Answer : 2. "Tertiary sector"
Q: According to law of supply, if everything is equal then an increase in price results in ________.
1203 060c355e63ef9d27847d12d6e
60c355e63ef9d27847d12d6e- 1Decrease in quantity suppliedfalse
- 2Increase in quantity suppliedtrue
- 3Decrease in quantity demandedfalse
- 4Increase in quantity demandedfalse
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Answer : 2. "Increase in quantity supplied "
Q: The national income is divided by the per capita income?
1196 06052f4b1a37d522d6c188242
6052f4b1a37d522d6c188242- 1Area of the countryfalse
- 2Total population of the countrytrue
- 3Quantity of capital usedfalse
- 4None of thesefalse
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Answer : 2. "Total population of the country"
Q: In an economy, on what basis are sectors classified into public and private?
1195 06052f1d9a01bc44789ad1d80
6052f1d9a01bc44789ad1d80- 1Terms of employmentfalse
- 2Ownership of enterprisestrue
- 3Use of raw materialsfalse
- 4None of thesefalse
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Answer : 2. "Ownership of enterprises"
Q: Disguised unemployment is commonly seen in India.
1193 06052f0f84999e13f2a6bb0b1
6052f0f84999e13f2a6bb0b1- 1In the service sectorfalse
- 2In the agricultural sectortrue
- 3Factory areafalse
- 4All thesefalse
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Answer : 2. "In the agricultural sector"
Q: State's GDP Which sector contributes the most?
1191 061a4c4790fbe1213ad992182
61a4c4790fbe1213ad992182- 1agricultural sectorfalse
- 2Industry sectorfalse
- 3Service areatrue
- 4Foreign incomefalse
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Answer : 3. "Service area"
Explanation :
The service sector, also called the tertiary sector contributes most of the GDP in India.
Q: Central bank of our country is
1188 06266ce1de1e2a840c334873f
6266ce1de1e2a840c334873f- 1State Bank of Indiafalse
- 2Reserve Bank of Indiatrue
- 3Central Bank of Indiafalse
- 4Bank of Barodafalse
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Answer : 2. "Reserve Bank of India "
Explanation :
1. The central bank of our country is the Reserve Bank of India.
2. It is the supreme bank of India and determines the monetary policy of the country.
3. RBI was established on April 1, 1935 under the Reserve Bank of India Act, 1934.
Q: What is the maximum contribution to the national income of India?
1183 06052f21d4999e13f2a6bb4ae
6052f21d4999e13f2a6bb4ae- 1Service Sectortrue
- 2Business Areafalse
- 3Agricultural sectorfalse
- 4Industry Sectorfalse
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