Indian Economy Practice Question and Answer

Q:

The best Example of capital intensive industry in India is- 

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  • 1
    Textile industry
    Correct
    Wrong
  • 2
    Steel industry
    Correct
    Wrong
  • 3
    Tourism industry
    Correct
    Wrong
  • 4
    Spare goods industry.
    Correct
    Wrong
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Answer : 2. "Steel industry "
Explanation :

Explain: -Intensive industry are those industries which need large amount of capital for investment.

Q:

The national income is divided by the per capita income?

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  • 1
    Area of the country
    Correct
    Wrong
  • 2
    Total population of the country
    Correct
    Wrong
  • 3
    Quantity of capital used
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Total population of the country"

Q:

The Social Accounting system in India is classified into–

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  • 1
    Assets, Liabilities and Debt Position
    Correct
    Wrong
  • 2
    Public sector, Private Sector and Joint Sector
    Correct
    Wrong
  • 3
    Income, Product and Expenditure
    Correct
    Wrong
  • 4
    Enterprise, Households and Government
    Correct
    Wrong
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Answer : 3. "Income, Product and Expenditure"
Explanation :

Explain: -The Social Accounting system in India is classified into income, Product and Expenditure Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations.

Q:

In which country was the consumer awareness movement started?

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  • 1
    China
    Correct
    Wrong
  • 2
    Japan
    Correct
    Wrong
  • 3
    England
    Correct
    Wrong
  • 4
    United States
    Correct
    Wrong
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Answer : 3. "England"

Q:

Issues currency notes in India?

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  • 1
    Urban Co-operative Bank
    Correct
    Wrong
  • 2
    Reserve Bank of India
    Correct
    Wrong
  • 3
    Ministry of Finance
    Correct
    Wrong
  • 4
    Finance Secretary
    Correct
    Wrong
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Answer : 2. "Reserve Bank of India"

Q:

In an economy, on what basis are sectors classified into public and private?

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  • 1
    Terms of employment
    Correct
    Wrong
  • 2
    Ownership of enterprises
    Correct
    Wrong
  • 3
    Use of raw materials
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Ownership of enterprises"

Q:

Banks and other financial institutions in India are required to maintain a certain amount of liquid assets like cash, precious metals and other short term securities as a reserve all the time. In Banking World this is known as–

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  • 1
    PLR
    Correct
    Wrong
  • 2
    Fixed Asset
    Correct
    Wrong
  • 3
    SLR
    Correct
    Wrong
  • 4
    CRR
    Correct
    Wrong
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Answer : 4. "CRR "

Q:

Disguised unemployment is commonly seen in India.

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  • 1
    In the service sector
    Correct
    Wrong
  • 2
    In the agricultural sector
    Correct
    Wrong
  • 3
    Factory area
    Correct
    Wrong
  • 4
    All these
    Correct
    Wrong
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Answer : 2. "In the agricultural sector"

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