Economics Quiz for SSC & IBPS Exam

1. India has emerged as the top foreign direct investment destination after:

a) China

b) United States of America

c) Australia

d) Japan

2. The Minimum Wages Act was passed in the year:

a) 1945

b) 1946

c) 1947

d) 1948

3. Indian coins are minted in:

a) Delhi, Mumbai and Kolkata

b) Delhi, Kolkata and Hyderabad

c) Mumbai, Delhi and Bangalore

d) Mumbai, Kolkata and Bangalore

4. Currency notes in India are printed and supplied by:

a) Security Press, Nasik

b) Security Press, Mumbai

c) Security Press, NOIDA

d) RBI, New Delhi

5. Nationalisation or public control of an industry is often supported by economists because:

a) It has been making excessing losses .

b) It has been making continuous profits .

c) It is a natural monopoly .

d) Similar industries in antoher country have been nationalized .

6. Which of the following is more convenient method to know the health of the economy?

a) GDP

b) GNP

c) NNP

d) NDP

7. Okun’s law deals with the relationship of:

a) Inflation and price

b) Inflation and GNP

c) GNP and unemployment

d) Inflation and unemployment

8.Study the criteria for identifying of industrially backward states and UT as recommended by NDC in 1968: 

1. Total per capita income together with the contribution of industry and mining. 

2. Number of workers in factories per lakh of population. 

3. Length of surfaced road in relation to population and the areas of the states. 

4. Per capita industrial loans granted by banks. 

Choose the correct options:

a) Only 1 and 2 .

b) Only 2 and 3

c) Only 1,2 and 3

d) All of the above

9. Privatisation covers the following activities:

1. Liquidation 

2. Financial restructuring 

3. Joint Venture 

4. Leasing 

Choose the incorrect option:

a) Only 1and 4

b) Only 2 and 4

c) Only 2 and 3

d) None

10.Study the major weaknesses of Indian planning: 

1. Failure to eliminate poverty

2. Insignificant progress in agriculture.

3. Failure to provide employment to all able bodied persons. 

Choose the correct options:

a) Only 1 and 2

b) Only 2 and 3

c) Only 1and 3

d) All of the above

ANSWER

1. A

2. D

3. D

4. A

5. C

6. A

7. C

8. C

9. D

10. C