Economics GK Questions Practice Question and Answer

Q:

Central bank of our country is 

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  • 1
    State Bank of India
    Correct
    Wrong
  • 2
    Reserve Bank of India
    Correct
    Wrong
  • 3
    Central Bank of India
    Correct
    Wrong
  • 4
    Bank of Baroda
    Correct
    Wrong
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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:

Which Indian finance minister was India’s delegate to the World Monetary Conference at Bretton Woods in 1944?

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  • 1
    KC Neogy
    Correct
    Wrong
  • 2
    CD Deshmukh
    Correct
    Wrong
  • 3
    John Mathai
    Correct
    Wrong
  • 4
    RK Shanmukham Chetty
    Correct
    Wrong
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Answer : 4. "RK Shanmukham Chetty"
Explanation :

1. In the World Monetary Conference at Bretton Woods in 1944, R. Of. Shanmukham Chetty served as the Indian Finance Minister.

 2. Served as Speaker of the Central Legislative Assembly of India, and also as Dewan of Cochin State from 1935 to 1941.

Q:

Whose annual publication is the World Development Report?

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  • 1
    I.M.F.
    Correct
    Wrong
  • 2
    W.T.O.
    Correct
    Wrong
  • 3
    I.B.R.D
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 3. "I.B.R.D"

Q:

As per Census 2011, under which of the following ranges does the literacy rate in India fall? 

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  • 1
    90% - 95%
    Correct
    Wrong
  • 2
    50% - 55%
    Correct
    Wrong
  • 3
    30% - 35%
    Correct
    Wrong
  • 4
    70% - 75%
    Correct
    Wrong
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Answer : 4. "70% - 75%"

Q:

Which of the following is/are one of the United Nations Sustainable Development Goals?

(A) Zero Hunger

(B) Climate Action

(C) Life Below Water

(D) Quality Education

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  • 1
    A, B, C and D
    Correct
    Wrong
  • 2
    A and B
    Correct
    Wrong
  • 3
    B and C
    Correct
    Wrong
  • 4
    A, C and D
    Correct
    Wrong
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Answer : 1. "A, B, C and D"
Explanation :

All these are the main goals of the United Nations Sustainable Development Goals.

(A) Zero Hunger
 (B) Climate Action
 (C) Life Below Water
 (D) Quality Education

Major goals of the UN Sustainable Development Goals:

1. Poverty Eradication: End extreme poverty for all people everywhere by 2030.

2. End hunger: Ensure food security and improved nutrition for all by 2030 and promote sustainable agriculture.

3. Health and Well-Being: To promote healthy lives and well-being for people of all ages.

4. Education for all: To ensure inclusive and equitable quality education for all by 2030.

5. Gender equality: Achieving gender equality and promoting the empowerment of women and girls.

6. Clean water and sanitation: Ensuring safe and accessible clean water and sanitation services for all.

Q:

In which district agriculture is done on maximum area?

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  • 1
    barmer
    Correct
    Wrong
  • 2
    Rajsamand
    Correct
    Wrong
  • 3
    Ganganagar
    Correct
    Wrong
  • 4
    Chittorgarh
    Correct
    Wrong
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Answer : 1. " barmer"
Explanation :

The State of Rajasthan falls in the three Agroclimatic Zones, i.e. Zone–VI -Trans-Gangetic Plains region, Zone–VIII-Central Plateau and Hills region and Zone–Western Dry region.

Q:

The four factors of production are

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  • 1
    land, labour, capital, organisation
    Correct
    Wrong
  • 2
    land, electricity, water, labour
    Correct
    Wrong
  • 3
    labour, capital, land, rainfall
    Correct
    Wrong
  • 4
    labour, climate, land, tools
    Correct
    Wrong
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Answer : 1. "land, labour, capital, organisation"

Q:

In the law of demand, the statement “Other things remain constant” means

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  • 1
    income of consumer should not change
    Correct
    Wrong
  • 2
    price of other goods should not change
    Correct
    Wrong
  • 3
    taste of consumer should not change
    Correct
    Wrong
  • 4
    All of the above
    Correct
    Wrong
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Answer : 4. "All of the above"

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