Indian Economy MCQ

Complete Indian Economy Quiz

Complete Indian Economy Quiz

Here we provided Indian Economy GK quiz for Competitive Exams. You can easily get marks with the help of these Complete History GK Questions and answers.

As you know Indian Economy Questions Answer gk are the important topic for IAS, SSC, Banking and for various Competitive Exams.

1. Which is the best measurement of economic growth of a country?

A. GNP

B. GDP

C. Net Revenue

D. None of above

View Answer
B. GDP

2. What is Animal on the insignia of the RBI?

A. Tiger

B. Lion

C. Elephant

D. Panther

View Answer
B. Lion

3. A cause of inflation is?

A. Fall of production

B. Increase in money supply

C. Decrease in money supply and fall in production

D. Increase in money supply and Fall in production

View Answer
A. Fall of production

4. The Father of Economics is?

A. Max Muller

B. Adam Smith

C. Karl Marx

D. None of above

View Answer
B. Adam Smith

5. Indian Economy in which type Economy?

A. Traditional Economy

B. Market Economy,

C. Command Economy

D. Mixed Economy

View Answer
D. Mixed Economy

6. The Task of the Planning Commission is?

A. Financial of the plan

B. Implementation of the plan

C. Preparation of the plan

D. None of Above

View Answer
C. Preparation of the plan

7. Who is the new Vice Chairman of the NITI Aayog in India?

A. Rajnath Singh

B. Amit Shah

C. Rajiv Kumar

D. Nitin Gadkari

View Answer
C. Rajiv Kumar

8. Five year Plans concept in India introduced by?

A. Indira Gandhi

B. Morarji Desai

C. Jawaharlal Nehru

D. Atal Bihari Vajpayee

View Answer
C. Jawaharlal Nehru

9. What is True about Closed Economy?

A. Neither exports nor imports take place

B. Only Export take place

C. Only import take place

D. The money supply is fully controlled

View Answer
A. Neither exports nor imports take place

10. In which Sector in India, The Public Sector is most Dominant?

A. Transport

B. Steel Production

C. Agriculture

D. Commercial Banking

View Answer
D. Commercial Banking

11. Production means in Economics is?

A. Farming

B. Making

C. Creating Utility

D. Manufacturing

View Answer
C. Creating Utility

12. The Problem of Economics arises from?

A. Scarcity of goods

B. Plenty

C. More wants and less goods

D. None of the above

View Answer
C. More wants and less goods

13. The System of MOU (Memorandum of Understanding) was introduced in?

A. 1990-91

B. 1887-88

C. 1976-77

D. 1969-70

View Answer
B. 1887-88

14. Take off Stage in Economy means?

A. Economy is collapse

B. Steady Growth begins

C. Economy is Stagnant

D. None of above

View Answer
B. Steady Growth begins

15. Economic Planning is a subject…..

A. In the State List

B. In the Union List

C. In the Concurrent List

D. None of above

View Answer
B. In the Union List

16. NITI Aayog is?

A. A Ministry

B. A Government Department

C. An Advisory Body

D. All of Above

View Answer
C. An Advisory Body

17. Planning in India derives its objective from:

A. Directive Principles of state policy

B. Fundamental Rights

C. Preamble

D. Fundamental Duties

View Answer
A. Directive Principles of State Policy

18. Economic survey is publish by?

A. Planning Commission

B. Ministry of Finance

C. Government of India

D. Indian Statustical Institute

View Answer
B. Ministry of Finance

19. Mixed Economy Means….

A. Both agriculture and industry are equally promoted by the state

B. There is importance of small scale industries along with heavy industries

C. Economy is controlled by military as well as civilian rulers

D. There is co-existence of public sector along with private sector

View Answer
D. There is co-existence of public sector along with private sector

20. Planning Commission of India Set up in?

A. 1950

B. 1956

C. 1960

D. 1948

View Answer
A. 1950

So in this quiz we have compiled 400 important and advance questions on the different sections of the Indian Economy which would be very useful for all various competitive exams like Clerk, GPSC, UPSC, PSC, SSC, and others.