10 Important Economic MCQs for Most of the competitive examinations
Que 1: When there is affect on economic activity of an specific country due to import and export, then such economy are called
(A) Closed economy
(B) Open economy
(C) Agricultural economy
(D) Industrial economy
Correct Ans: B
Que 2: The Worldwide great depression happens in which year
(A) 1936
(B) 1929
(C) 1928
(D) 1930
Correct Ans: B
Que 3: Which among the following is not the investment of goods & services?
(A) Cost of machinery
(B) Increase in cost of raw goods
(C) Increasing deparment of company
(D) Cost of buying house.
Correct Ans: C
Que 4: Preparing butter and ghee for household consumption of own family is a part of
(A) Household investment production
(B) Industrial production
(C) Consumption
(D) Own Account Production
Correct Ans: D
Que 5: Multinational firm is–
(A) A company started by foreign governments
(B) A single company established in different countries
(C) A company in India started by U.S. government
(D) A company started jointly by India and U.S.
Correct Ans: B
Que 6: Internal profit–
(A) Happens when internal trade expands
(B) Happens when business expands
(C) Happens in economy when they increase
(D) Happens in firms when they expand their product
Correct Ans: D
Que 7: The Removal of prohibitions and hindrance by government is called.
(A) Globalisation
(B) Privatisation
(C) Liberalisation
(D) Bilateral understanding
Correct Ans: C
Que 8: Which of the following is related to South-South debate?
(A) Cooperation between developing countries
(B) Defence Organisation
(C) Sitting between developed & developing countries
(D) All of the above
Correct Ans: A
Que 9: In a economy “Development Stage” means
(A) Starting of steadily increasing economy
(B) Bad economy
(C) Economy is on the verge of destroying
(D) All tariff to be removed.
Correct Ans: A
Que 10: The tree like structure of records in a database in
(A) Network Model
(B) Hierarchical Model
(C) Relational Model
(D) Multi-Dimenmoral Model
Correct Ans: B
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