760+ Indian Economy Quiz Questions and Answers with Explanation

Q:

Which among the following does not count in the development expenditure of government?

A) Expenditure on economic services	B) Expenditure on social services
C) Grant to states	D) Defence expenditure

Answer & Explanation Answer: D) Defence expenditure

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 836

Q:

A 'Market Economy' is one which

A) is controlled by the Government	B) is free from the Government control
C) in influenced by international market forces	D) All of these

Answer & Explanation Answer: B) is free from the Government control

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 835

Q:

Which one of the following statements is not correct?

A) When total utility is maximum, marginal utility is zero	B) When total utility is decreasing, marginal utility is negative
C) When total utility is increasing, marginal utility is positive	D) When total utility is maximum,marginal and average utility are equal to each other.

Answer & Explanation Answer: D) When total utility is maximum,marginal and average utility are equal to each other.

Explanation:

Total utility -It is total psychological satisfaction which a consumer derives from the consumption of a commodity is known as total utility

Marginal utility -It is anaddition made in total utility by consuming and additional unit of a commodity is known as marginal utility.

•When marginal utility is positive,total utility increases

•When marginal utility is zero,total utility is at maximum

•When marginal utility is negative,total utility decreases

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 833

Q:

The goods which people consume more, when their price rises are called _______.

A) Essential goods	B) Capital goods
C) Veblen goods	D) Giffen goods

Answer & Explanation Answer: D) Giffen goods

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 833

Q:

If price of an article decreases from Rs 600 to Rs 500, when quantity demanded increases from 10000 units to 12000 units. Find point elasticity of demand?

A) -1.2	B) 1.2
C) -1.5	D) 1.5

Answer & Explanation Answer: A) -1.2

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 833

Q:

IMF has predicted that the global economy would grow at _______ % in 2017.

A) 5.5	B) 4.5
C) 3.5	D) 2.5

Answer & Explanation Answer: C) 3.5

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

2 831

Q:

In April 2017, N. K. Singh Committee recommended a fiscal deficit of how much percent of GDP by Financial Year 2022-23?

A) 2.50%	B) 3.00%
C) 3.50%	D) 4.00%

Answer & Explanation Answer: A) 2.50%

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 831

Q:

In India, which of the following is regulated by the Forward Markets Commission?

A) Currency Futures Trading	B) Commodities Futures Trading
C) Equity Futures Trading	D) Both Commodities Futures and Financial Futures Trading

Indian Economy Questions

Quick Links