Economics GK Questions Practice Question and Answer
8 Q: Following region contributes most to India's GDP?
1149 06052f5074999e13f2a6bcec2
6052f5074999e13f2a6bcec2- 1Primary Sectorfalse
- 2Tertiary sectortrue
- 3Secondary sectorfalse
- 4None of thesefalse
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Answer : 2. "Tertiary sector"
Q: Planning Economy has started in Rajasthan
1144 061a4d33c92711a18d395ff8f
61a4d33c92711a18d395ff8f- 1First Plantrue
- 2Second Planfalse
- 3Third Planfalse
- 4Fifth Planfalse
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Answer : 1. "First Plan"
Explanation :
The Planning Department of Rajasthan was established in July 1953 under the chairmanship of the Chief Minister. The Planning Department of Rajasthan prepares the planned budget, monitors expenditure, budget announcements and centrally sponsored schemes to achieve targeted development in the state.
Q: According to law of supply, if everything is equal then an increase in price results in ________.
1136 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: In an economy, on what basis are sectors classified into public and private?
1127 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: The national income is divided by the per capita income?
1118 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.
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6052f0f84999e13f2a6bb0b1- 1In the service sectorfalse
- 2In the agricultural sectortrue
- 3Factory areafalse
- 4All thesefalse
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Answer : 2. "In the agricultural 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.
Q: State's GDP Which sector contributes the most?
1099 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.