Indian Economy Practice Question and Answer

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:

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:

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:

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:

India's rank among coal producing countries is?

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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:

To which of the following sectors of the economy do Basel III norms belong?

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  • 1
    Banking
    Correct
    Wrong
  • 2
    Capital market
    Correct
    Wrong
  • 3
    Automobile
    Correct
    Wrong
  • 4
    Aviation
    Correct
    Wrong
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Answer : 1. "Banking"
Explanation :

1. The Basel norms are international banking rules to strengthen the international banking system.

2. It is in the form of an agreement by the Basel Committee on Banking Supervision which mainly focuses on the risks to banks and the financial system.

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:

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"

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