Indian Economy Practice Question and Answer

Q:

What is the rank of India in the world in fish production?

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  • 1
    2nd
    Correct
    Wrong
  • 2
    3rd
    Correct
    Wrong
  • 3
    4th
    Correct
    Wrong
  • 4
    5th
    Correct
    Wrong
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Answer : 2. "3rd"

Q:

A foreign currency which has a tendency to migrate soon is called?

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  • 1
    soft currency
    Correct
    Wrong
  • 2
    Savarna Mudra
    Correct
    Wrong
  • 3
    Hot money
    Correct
    Wrong
  • 4
    Rare currency
    Correct
    Wrong
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Answer : 3. "Hot money"

Q:

Rent is a cost paid for–

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  • 1
    Land
    Correct
    Wrong
  • 2
    Restaurant
    Correct
    Wrong
  • 3
    Building
    Correct
    Wrong
  • 4
    Factory
    Correct
    Wrong
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Answer : 1. "Land "
Explanation :

Explain: -Rent is a cost paid for land as wages and interest are paid  for labour and capital respectively.

Q:

What is the name of the amount from which the business is started?

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  • 1
    Cash
    Correct
    Wrong
  • 2
    Capital
    Correct
    Wrong
  • 3
    Property
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Capital"

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–

1081 0

  • 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:

Following region contributes most to India's GDP?

1080 0

  • 1
    Primary Sector
    Correct
    Wrong
  • 2
    Tertiary sector
    Correct
    Wrong
  • 3
    Secondary sector
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Tertiary sector"

Q:

The financial year in the Indian economy runs from ______.

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  • 1
    1 January to 31 May
    Correct
    Wrong
  • 2
    1 April to 30 June
    Correct
    Wrong
  • 3
    1 June to 31 March
    Correct
    Wrong
  • 4
    1 April to 31 March
    Correct
    Wrong
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Answer : 4. "1 April to 31 March"

Q:

National Insurance Awareness Day was observed on which day?

1075 0

  • 1
    26 June
    Correct
    Wrong
  • 2
    27 June
    Correct
    Wrong
  • 3
    28 June
    Correct
    Wrong
  • 4
    29 June
    Correct
    Wrong
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Answer : 3. "28 June"

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