10 Important Economic MCQs for Bank Exams, SSC Exams, RBI and AFCAT, UPSC etc
Que 1: 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 2: Who among the following is not a classical economist?
(A) David Ricardo
(B) John Stuart Mill
(C) Thomas Malthus
(D) John Maynard Keynes
Correct Ans: D
Que 3: Who said, “Economics is the Science of Wealth”?
(A) Robbins
(B) Adam Smith
(C) JS Mill
(D) Keynes
Correct Ans: B
Que 4: Who is called the father of Economics
(A) Max Mullar
(B) Karl Marx
(C) Adam Smith
(D) None of these
Correct Ans: C
Que 5: The concept of five year plans in India was introduced by
(A) Lord Mountbatten
(B) Jawahar lal nehrut
(C) Indira Gandhi
(D) Lal Bahadur Shastri
Correct Ans: B
Que 6: White Revolution is related to
(A) Oil seeds
(B) Milk production
(C) Meat production
(D) Wool production
Correct Ans: B
Que 7: The 191st member of UNO is
(A) Switzerland
(B) East Timor
(C) Swaziland
(D) Taiwan
Correct Ans: B
Que 8: India has
(A) Socialistic economy
(B) Gandhian economy
(C) Mixed economy
(D) Free economy
Correct Ans: C
Que 9: Mixed economy means
(A) Co-existence of small scale and large scale industries
(B) Co-existence of the rich and poor
(C) Co-existence of private and public sector
(D) Assigning equal importance to both agriculture and heavy industries
Correct Ans: C
Que 10: India's economic planning cannot be said to be
(A) Indicative
(B) Imperative
(C) Limited
(D) Democratic
Correct Ans: B
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