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Economic MCQ Questions with answers

Here Important Economic MCQ questions are added which are frequently asked in almost all the examinations. You can check the correct answer of any question on clicking the show answer button or on option itself. The Correct answer will be displayed below. You can share any question with your friends on whatsapp by tapping whatsapp button.

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Prabhas Kapoor • 1.64K Points
Master

Q) The system of “Memorandum of Understanding” (MoU) was introduced in

(A) 1989 – 90

(B) 1990 – 91

(D) 1988 – 89

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Correct Answer - Option (C)

Explanation:
The System of Memorandum of Understanding was introduced in the Public Sector Enterprises during the year 1987-88 in India. It was based on the report of the Arjuna Sengupta Committee (1984).

Prabhas Kapoor • 1.64K Points
Master

Q) Coal mines were Nationalized in the year

(A) 1970

(B) 1971

(D) 1976

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Correct Answer - Option (C)

Explanation:
The Coal Conservation and Development Act, 1974 provides for imposition of excise duty on coal despatches for meeting activities like conservation of coal, development of coal mines execution of stowing and other operations for the safety in coal mines and research work connected with conservation and utilisation of coal, and assistance in mining operation. The Coking Coal (Nationalisation) Act was enacted in 1972.

Prabhas Kapoor • 1.64K Points
Master

Q) Buffer stock operations are conducted by

(A) Warehousing Corporation of India

(B) State Trading Corporation of India

(D) Ministry of Agriculture

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Correct Answer - Option (C)

No Explanation found. Add Explanation and get +2 points.

Mr. Dubey • 51.17K Points
Coach

Q) Who decides the office of profit?

(A) President and Governor

(B) Union Parliament

(D) Union Public Service Commission

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Correct Answer - Option (A)

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Mohit Kumar Chauhan • 20 Points
Newbie

Q) Which of the following iron and steel plants is correctly matched with its establishing country?
Steel plants         Country
1.	Bokaro            Japan
2.	Bhilai               Erstwhile USSR 
3.	Rourkela         Germany 
4.	Durgapur         United Kingdom
Choose the correct option:

(A) 1, 2 and 3 only

(B) 1, 3 and 4 only

(D) All of the above

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Correct Answer - Option (C)

Explanation:
Correct answer: C • Bokaro Steel Plant - the fourth integrated plant in the Public Sector - started taking shape in 1965 in collaboration with the Soviet Union. • The Bhilai Steel plant was established with Russian (erstwhile USSR) collaboration in Durg district of Chhattisgarh and started production in 1959 • Rourkela Steel Plant (RSP), in Rourkela, Odisha is the first integrated steel plant set up with West Germany in the public sector in India. • Durgapur Steel Plant of Steel Authority of India Limited, located in Durgapur, West Bengal. It was set up with the help of United Kingdom.