Indian Economics - Multiple Choice Questions (MCQs)
The SSC CGL Exam is Staff Selection Commission Combined Graduate Level Exam, conducted to recruit candidates for Group B and Group C posts in various departments of the Government of India.

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Indian Economics - SSC CGL General Science MCQ (SET-05)
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  • Description: SSC CGL General Awareness Static General Knowledge covers 40% of the GA section and includes topics such as History, Indian Politics, Culture, Economy, Geography, and more. General Science in the SSC CGL exam 2022 holds 40% of the section and includes Indian Science topics such as biology, chemistry and daily science.

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Q101: The basic object of all production is to

 A) increase physical output
 B) satisfy human wants
 C) provide employment
 D) make profits

Q102: Fiscal policy in India is formulated by?

 A) Reserve Bank of India
 B) Planning Commission
 C) Finance Ministry
 D) SEBI

Q103: Total demand for goods and services at various levels of employment is called as

 A) Effective demand
 B) National demand
 C) Market Demand
 D) Employment demand

Q104: Tick the correct option with regards to the contribution towards GDP (Gross Domestic Product) from Agriculture

 A) During 1950–51 (GDP 51-88%) and 2011–12 (GDP 14-01%)
 B) During 1950–51 (GDP 11-00%) and 2011–12 (GDP 25%)
 C) During 1990–91 (GDP 29-53%) and 2011–12 (GDP 66-77%)
 D) During 1980–81 (GDP 35-69%) and 2011–12 (GDP 20-69%)

Q105: Price and output are determinates in market structure other than

 A) monopoly
 B) perfect competition
 C) oligopoly
 D) monopsony

Q106: The Social Forestry Scheme was introduced during

 A) Fourth Five Year Plan
 B) Eighth Five Year Plan
 C) Second Five Year Plan
 D) Sixth Five Year Plan

Q107: Diamonds are priced higher than water because :

 A) consumers do not buy them at lower prices.
 B) they are sold by selected firms with monopolistic powers.
 C) their marginal utility to buyers is higher than that of water
 D) their total utility to buyers is higher than that of water

Q108: The Rashtriya Barh Ayog (RBA) is related with

 A) Droughts and Floods
 B) Poverty Alleviation
 C) Floods
 D) Disaster Management

Q109: Which one of the following statements is correct?

 A) A commodity will value if it is wanted by somebody.
 B) A commodity will have value only if it is scarce relative to demand.
 C) The value of a commodity depends upon its price.
 D) The value of a commodity is entirely dependent upon the substitutes.

Q110: Regarding money supply situation in India it can be said that the:

 A) Currency with the public is almost equal to the deposits with the banks.
 B) Currency with the public is inconvertible only.
 C) Currency with the public is more than the deposits with the banks.
 D) Currency with the public is less than the deposits with the banks.

Q111: Lender of the Last Resort is :

 A) IDBI
 B) NABARD
 C) SBI
 D) RBI

Q112: Open market operation refers to :

 A) borrowing by scheduled banks to industry and trade
 B) purchase and sale of government securities by the rbi
 C) deposit mobilisation
 D) borrowing by scheduled banks from the RBI

Q113: Which one of the following is a raw material oriented industry ?

 A) Sugar industry
 B) Petroleum refinery
 C) Light engineering industry
 D) Ship building

Q114: An economic theory is a/an

 A) Axion
 B) Proposition
 C) Hypothesis
 D) Tested hypothesis

Q115: Economic planning is an essential feature of

 A) Socialist economy
 B) Capitalist economy
 C) Mixed economy
 D) Dual economy

Q116: Which is the parameter for the economic development ?

 A) Per capita monetary income
 B) National income
 C) Per capita rural income
 D) Population

Q117: The time element in price analysis was introduced by

 A) Alfred Marshall
 B) J.S. Mill
 C) J.R. Hicks
 D) J.M. Keynes

Q118: Which of the following is the feature of monopolistic competition ?

 A) Single firm
 B) Large number of firms
 C) Group of firms
 D) None of the above

Q119: RRBs are owned by

 A) Central Government
 B) State Government
 C) Sponsor Bank
 D) Jointly by all of the above

Q120: Inflation is caused by

 A) decrease in production
 B) increase in money supply and decrease in production
 C) increase in money supply
 D) increase in production

Q121: Social accounting system in India is classified into

 A) Assets, liabilities and debt position
 B) Public sector, Private sector and Joint sector
 C) Income, product and expenditure
 D) Enterprise, households and government

Q122: The principle of maximum social advantage is the basic principle of

 A) Micro Economics
 B) Macro Economics
 C) Fiscal Economics
 D) Environmental Economics

Q123: Taxes on professions can be levied by:

 A) State government only
 B) both by state and union government
 C) by panchayats only
 D) Union government only

Q124: At 'Break-even point',

 A) the industry is in equilibrium in the long-run.
 B) the producers suffers the minimum losses
 C) the seller earns maximum profit
 D) the firm is at zero-profit point

Q125: A want becomes a demand only when it is backed by the

 A) Ability to purchase
 B) Necessity to buy
 C) Desire to buy
 D) Utility of the product




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By Mh on Wed, 17-08-2022
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