Economics General GK Objective Multiple Choice Questions with Answer online Test : Here you are going to get common Economics general (GK on Economics) questions with answers. You get fully solved frequently asked objective questions on Economics (under General Indian Economy GK). If you are searching where can I get general Economics gk questions on Economics with answers for competitive exams, interviews and entrance test, then this is where we provide you with free online tests for practice and preparation. Practicing these Indian Economy General Economics GK question papers in online quiz mode will help you to improve your performance in actual Tests in any competitive exams like – rail, bank, ssc, psc, upsc, IBPS PO, RRB, Group C, Grpup D, SBI, PO, B.ed, tet, etc. as these sample questions are taken from the question paper of these test.
Indian Economy GK Questions for Competitive Exams
Quiz: The Asian countries of RCEP have offered a concession to this country to open up its markets?
Ans: India
Quiz: What is NSSO?
Ans: National Sample Survey Organisation
Quiz: When community development Programme (CDP) started?
Ans: 1952
Quiz: Which among the following got an approval from SEBI to launch copper large futures contract?
Ans: NSE
Quiz: This country becomes World’s 2nd biggest stock market.
Ans: Japan
Quiz: Green Revolution started in
Ans: 1966-67
Quiz: Interest is paid for the postponement of
Ans: Saving
Quiz: As per the report of US, which country name is removed from the currency monitoring list?
Ans: India
Economics GK for Competitive Exams
Quiz: The GST council has decided a four tier structure of taxation to cover most goods and services. Which of the following is a correct group of these four tiers?
Ans: 5%, 12%, 18% and 28%
Quiz: The term discovered small field (DSF), which was recently making news is related to which of the following ?
Ans: Petroleum Sector
Quiz: Which of the following is not a traditional Rabi crop in India?
Ans: Pigeon Pea
Quiz: Duty Entitlement Pass Book (DEPS) is an scheme of Indian Government provided to _
Ans: Exporters
Quiz: Which of the following was the first paper currency issued by RBI?
Ans: Rs 5 Note
Quiz: Pradhan Mantri Gramodaya Yojana started in ?
Ans: 2000
Quiz: Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are
Ans: loans, tax sharing, grant-in-aids
Quiz: Debenture holders of a company are its
Ans: creditors
Indian Economy GK Questions for Competitive Exams
Quiz: Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
Ans: Essar Oil
Quiz: In a Mixed economy?
Ans: Economic decisions are partly taken by state and partly by the private entrepreneurs
Quiz: A capitalist economy uses as the principal means of allocating resources?
Ans: Prices
Quiz: RBI to issue New Design Rs.100 denomination banknote. The base colour of the note is;
Ans: Lavender
Quiz: Agriculture employs upto what per cent of the Indian Population?
Ans: 70
Quiz: What kind of unemployment is found in the agriculture sector of India?
Ans: Disguise
Quiz: Which are the BRIC countries?
Ans: Britain, Russia, India and China
Quiz: Which company becomes India’s largest tax payer in private sector?
Ans: Reliance Industries
Quiz: The monetary policy in India is formulated by________?
Ans: Reserve Bank of India
Economics GK for Competitive Exams
Quiz: What is the cross elasticity of demand in Monopoly market?
Ans: Zero
Quiz: Which of the following is not a part of machinery that settles industrial disputes?
Ans: Wage Court
Quiz: The ARDC is now a branch of the
Ans: NABARD
Quiz: Paper currency first started in India in
Ans: 1861
Quiz: Recently with which state governemet Renault Nissan settles tax dispute?
Ans: Tamil Nadu
Quiz: What is that situation called when the production of goods and services continuously decline?
Ans: Financial Crisis
Quiz: Gini Coefficient or Gini Ratio can be associated with which one of the following measurements in an economy?
Ans: Income inequality
Quiz: The term Operation Twist is related to –
Ans: Quantitative Easing
Quiz: Export-Import bank of India was established in?
Ans: 1982
Economics GK for Competitive Exams
Quiz: Who gave theory of demand?
Ans: Alfred Marshall
Quiz: In which city the gold rates are decided?
Ans: London
Quiz: When was established National Sample Survey Organisation?
Ans: 1950
Quiz: Who wrote the book “Economics in One Lesson”?
Ans: Henry Hazlitt
Quiz: How many members are there in IMF?
Ans: 189
Quiz: How many principles are there in economics?
Ans: 10
Quiz: National Housing Bank (NHB) was established in?
Ans: 1988
Quiz: General Insurance Corporation (GIC) was established in?
Ans: 1972
Economics GK for Competitive Exams rail, bank, ssc, psc, upsc, IBPS PO, RRB, Group C, Grpup D, SBI, PO, B.ed, tet, etc. as these sample questions are taken from the question paper of these test.
Quiz: 15th Finance Commission constitutes panel for which sector?
Ans: Health Sector
Quiz: National income ignores
Ans: Sale of land
Quiz: Approx. __ % of Indian population is still Agriculturist.
Ans: 58%
Quiz: How much population is living below the poverty line in India?
Ans: Approx 26%
Quiz: Which Indian city ranked 3rd in the best cities in the world by Travel?
Ans: Udaipur
Quiz: When the productive capacity of the economic system of a State is inadequate to create sufficient number of jobs, it is called
Ans: ructural unemployment
Quiz: Special Drawings Rights (SDRs) relate to
Ans: The International Monetary Fund
Quiz: What is the mainstay of Indian economy?
Ans: Agriculture
Quiz: Which organisation has constituted a working group on Social Stock Exchanges (SSE) under the chairmanship of Ishaat Hussain, Director, SBI Foundation?
Ans: SEBI
Quiz: Where is the headquarters of Credit Saison India, which has received a non-banking financial company (NBFC) licence from the Reserve Bank of India?
Ans: Bengaluru
Quiz: How is the effect of a government surplus upon the equilibrium level of NNP (Net National Product) substantially?
Ans: Same as an increase in consumption
Quiz: Name of the country which hosts the biennial multi-national large force employment warfare exercise “Pitch Black 2018 (PB-18)”.
Ans: Australia
Quiz: In an inflationary trend, the pricing of the bank products are:
Ans: At increasing trend
Quiz: If the demand and supply of a commodity increase by an equal absolute amount, what will be the effect on market price?
Ans: [Remain Stable
Quiz: What has been the annual growth rate of Indian Population between 2001 and 2011?
Ans: 1.64%
Quiz: In which year Negotiable Instruments act came into force?
Ans: 1882
Economics GK for Competitive Exams rail, bank, ssc, psc, upsc, IBPS PO, RRB, Group C, Grpup D, SBI, PO, B.ed, tet, etc. as these sample questions are taken from the question paper of these test
Quiz: Who was the father of Operation Flood?
Ans: Dr. Verghese Kurien
Quiz: Which state in India is the major producer of mulberry silk?
Ans: Karnataka
Quiz: In which state is the hydel power project Nathpa Jhakari located ?
Ans: Himachal Pradesh
Quiz: Which state in country has the largest number of districts ?
Ans: Uttar Pradesh
Quiz: To which market situation does Bilateral monopoly refer?
Ans: One seller and one buyer
Quiz: Supply of money remaining the same when there is an increase in demand for money, what will be?
Ans: An increase in the rate of interest
Quiz: What is the median age (approximate) of the Indian population ?
Ans: 32 years
Quiz: Which state is the largest producer of Tobacco ?
Ans: Andhra Pradesh
Quiz: In order to provide pensions to workers of the unorganized sector, which scheme has been launched by the Government?
Ans: Swavalamban
Quiz: Who among the following declared the First Industrial Policy in the Post Independence Period?
Ans: Syama Prasad Mookerjee
Quiz: MDR is a free charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments. MDR stands for –
Ans: Merchant Discount Rate
Quiz: Where is the shore-based steel plant located?
Ans: Vishakhapatnam
Quiz: Which Indian state is the largest producer of Hydro electricity ?
Ans: Andhra Pradesh
Quiz: Which curve shows the inverse relationship between unemployment and inflation rates
Ans: Phillips curve
Quiz: The rate at which the Reserve Bank of India gives loans to Commercial bank is called
Ans: Bank rate
Quiz: Expenditures of the central government on flagship development programmes comes under which of the following?
Ans: Plan expenditures
Quiz: How many number of Precision Farming Development Centres (PFDCs) are present in Inidia?
Ans: 22
Quiz: In which year was FEMA (Foreign Exchange Management Act) finally implemented?
Ans: 2002
Quiz: Price theory is known as
Ans: macroeconomics
Quiz: Which among the following is used for a situation of “Too much money chasing too few goods?
Ans: Demand Pull Inflation
Quiz: Which of the following agricultural commodity of India gives largest in terms of export value?
Ans: Basmati Rice
Quiz: Which of the following rulers introduced “Rupee” in India?
Ans: Shershah Suri
Quiz: In which year did Indian Special Economic Rules amendment come?
Ans: 2006
Quiz: Invention of Money is the outcome of
Ans: Scare of resource
Quiz: In which type of unemployment, marginal productivity is zero or near zero
Ans: Seasonal
Quiz: In which year Food Safety and Standards Act was enacted in India?
Ans: 2006
Quiz: Which among the following is the short name of highest authority in India for Indirect Taxes?
Ans: CBEC
Quiz: Which of the following period is known as “Plan holiday”
Ans: 1966-1969
Quiz: The name of the joint venture that was announced between Bombay Stock Exchange (BSE) and S&P Dow Jones is?
Ans: Asia Index
Quiz: What do we mean by the concept of Total Fertility Rate (TFR) in population?
Ans: The average number of children born to a woman during her lifetime
Quiz: The functions of RBI are?1. Lender of the last resort. 2. Issue of bank notes of all denominations. Choose the correct code:
Ans: Both 1 and 2
Quiz: Which one among the following is not true for Special Economic Zones?
Ans: No permission for subcontracting
Quiz: Who estimated the National Income for the first time in India?
Ans: Dadabhai Naoroji
Quiz: Money supply is governed by the
Ans: Reserve Bank of India
Quiz: The terms “Micro Economics” and “Macro Economics” were coined by
Ans: Ragner Frisch
Quiz: Development expenditure of the Central government does not include
Ans: defence expenditure
Quiz: Gilt-edged market means
Ans: market of government securities