Economics GK Questions Practice Question and Answer
8 Q: Following region contributes most to India's GDP?
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6052f5074999e13f2a6bcec2- 1Primary Sectorfalse
- 2Tertiary sectortrue
- 3Secondary sectorfalse
- 4None of thesefalse
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Answer : 2. "Tertiary sector"
Q: State's GDP Which sector contributes the most?
1301 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: The national income is divided by the per capita income?
1291 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: Disguised unemployment is commonly seen in India.
1289 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: In an economy, on what basis are sectors classified into public and private?
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6052f1d9a01bc44789ad1d80- 1Terms of employmentfalse
- 2Ownership of enterprisestrue
- 3Use of raw materialsfalse
- 4None of thesefalse
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Answer : 2. "Ownership of enterprises"
Q: According to law of supply, if everything is equal then an increase in price results in ________.
1281 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: What is the maximum contribution to the national income of India?
1275 06052f21d4999e13f2a6bb4ae
6052f21d4999e13f2a6bb4ae- 1Service Sectortrue
- 2Business Areafalse
- 3Agricultural sectorfalse
- 4Industry Sectorfalse
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Answer : 1. "Service Sector"
Q: Which of the following statements is/are correct about the neighbouring countries of India?
(A) India supported Maldives in 2022 with a grant of nearly $4 billion to support the dwindling economy.
(B) India has the highest GDP in dollar terms as compared to Sri Lanka, Bhutan and Bangladesh.
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64b525902dc867f593f60f89(A) India supported Maldives in 2022 with a grant of nearly $4 billion to support the dwindling economy.
(B) India has the highest GDP in dollar terms as compared to Sri Lanka, Bhutan and Bangladesh.
- 1Only Btrue
- 2Neither A nor Bfalse
- 3Only Afalse
- 4Both A and Bfalse
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Answer : 1. "Only B"
Explanation :
1. Only B is correct.
2. India has the highest GDP in dollar terms as compared to Sri Lanka, Bhutan and Bangladesh.