Indian Economy Practice Question and Answer

Q:

Unemployment that arises when there is a general downturn in business activity is known as 

2204 0

  • 1
    Structural unemployment
    Correct
    Wrong
  • 2
    Frictional unemployment
    Correct
    Wrong
  • 3
    Cyclical unemployment
    Correct
    Wrong
  • 4
    Disguised unemployment
    Correct
    Wrong
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Answer : 3. "Cyclical unemployment "

Q:

What does the Lorenz Curve indicate?

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  • 1
    Relationship between the price of a certain commodity and its demand
    Correct
    Wrong
  • 2
    Income distribution
    Correct
    Wrong
  • 3
    Rate of employment
    Correct
    Wrong
  • 4
    Taxable income elasticity
    Correct
    Wrong
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Answer : 2. "Income distribution"

Q:

Price theory is also known as     

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  • 1
    Macro Economics
    Correct
    Wrong
  • 2
    Development Economics
    Correct
    Wrong
  • 3
    Public Economics
    Correct
    Wrong
  • 4
    Micro Economics
    Correct
    Wrong
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Answer : 4. "Micro Economics "

Q:

What kind of economy is there in India?

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  • 1
    socialist
    Correct
    Wrong
  • 2
    Mixed
    Correct
    Wrong
  • 3
    Free
    Correct
    Wrong
  • 4
    Gandhian
    Correct
    Wrong
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Answer : 2. "Mixed"

Q:

Is the government agency responsible for estimating national income in India?

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  • 1
    Indian Statistical Organization
    Correct
    Wrong
  • 2
    Central Statistical Organization
    Correct
    Wrong
  • 3
    Organization Indian Reserve Bank
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Central Statistical Organization"

Q:

Which is the most important small scale industry of India?

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  • 1
    Handloom Industry
    Correct
    Wrong
  • 2
    Leather Industry
    Correct
    Wrong
  • 3
    Pottery manufacturing industry
    Correct
    Wrong
  • 4
    Cotton textile industry
    Correct
    Wrong
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Answer : 1. "Handloom Industry"

Q:

Which of the following guarantees the purity of food items?

2099 0

  • 1
    Hallmark
    Correct
    Wrong
  • 2
    Agmark
    Correct
    Wrong
  • 3
    Bullmark
    Correct
    Wrong
  • 4
    ISI mark
    Correct
    Wrong
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Answer : 2. "Agmark"

Q:

India ranks first in the world in the production of which mineral?

2094 0

  • 1
    graphite
    Correct
    Wrong
  • 2
    Tungsten
    Correct
    Wrong
  • 3
    asbestos
    Correct
    Wrong
  • 4
    All these
    Correct
    Wrong
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Answer : 3. "asbestos"

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