introduction to indian economy section 10 MCQ Questions & Answers Detailed Explanation

MOST IMPORTANT indian economy mcq - 14 EXERCISES

Top 30,000+ Indian Economy Memory Based Exercises

The following question based on Introduction to Indian Economy topic of indian economy mcq

Questions : “NABARD” is a/an

(a) Financial Institution

(b) Bank

(c) Insurance Corporation

(d) Central Government Department

The correct answers to the above question in:

Answer: (a)

The National Bank for Agriculture and Rural Development (NABARD) is the apex development Bank for agriculture and rural development. It was set up on July 12, 1982.

Practice Introduction to Indian Economy (introduction to indian economy section 10) Online Quiz

Discuss Form

Valid first name is required.
Please enter a valid email address.
Your genuine comment will be useful for all users! Each and every comment will be uploaded to the question after approval.

Read more introduction Based Indian Economy Questions and Answers

Question : 1

Per capita income is obtained by dividing national income by

a) total working population

b) volume of the capital used

c) area of the country

d) total population of the country

Answer: (d)

Per capita income is obtained by dividing national income by the total population of the country per capita income, also known as income per person, is the mean income of the people in a country.

It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.

Question : 2

When the prices of commodities, goods and services start declining consistently, the phenomenon is known as

a) Deflation

b) Market capitalism

c) Negative growth

d) Discount field

Answer: (a)

When the prices of commodities, goods and services start declining consistently, the phenomenon is known as deflation. Deflation is because of a fall in the aggregate level of demand.

That is, there is a fall in how much the whole economy is willing to buy and the price for goods. Because the price of goods is falling, consumers have an incentive to delay purchases and consumption until prices fall further, which in turn reduces overall economic activity.

Since this idles the productive capacity, investment also falls, leading to further reductions in aggregate demand.

Question : 3

The most accessible mediumin India is

a) Newspapers

b) Radio

c) Cinema

d) Television

Answer: (a)

The newspaper’s importance in India may be due to the fact that it is relatively free from the competition despite the rise of the Internet. Though there are a large number of households that own television sets, there are still many more without.

Newspapers are highly affordable and are the more accessible alternative, even for rural areas.

Moreover, it is not dependent on other factors such as infrastructure or availability of electricity, which are both areas that are lacking in India.

Question : 4

Which of the following grants/grant direct credit assistance to rural households?

  1. Regional Rural Banks
  2. National Bank for Agriculture and Rural Development
  3. Land Development Bank
Select the correct answer using the codes given below :

a) 2 only

b) 1 and 3 only

c) 1 and 2 only

d) 1, 2 and 3 only

Answer: (b)

NABARD doesn’t give “direct” credit assistance.

It provides credit via intermediaries such as microfinance companies, co-operative society, RRB.

Therefore, 2 is false.

Question : 5

In which sector of the Indian economy is productivity the highest ?

a) Transport, Communication and Commerce

b) Manufacturing

c) Agriculture

d) Other sectors

Answer: (b)

Lately, the manufacturing industry has been witnessing positive overall growth across the spectrum. This can be said on the basis of the Industrial Outlook survey that was conducted by the Reserve Bank of India (RBI) for 2010 on the Indian manufacturing sector.

As per UNIDO’s new report titled ‘Yearbook of Industrial Statistics 2010’, India has emerged as one of the world’s top 10 countries in industrial production, while as per the report ‘2010 Global Manufacturing Competitiveness Index’, by Deloitte Touche Tohmatsu and the US Council on Competitiveness, India has ranked second for its manufacturing competence.

Question : 6

Among the following, which is the reason for different types of economic system?

  1. Time requirement
  2. Money requirement

a) 2 Only

b) 1 and 2

c) 1 Only

d) None of the Above

Answer: (b)

Different types of economy are dependent on time which helps in providing several ways to structure an economy.

Recently Added Subject & Categories For All Competitive Exams

100+ Quadratic Equation Questions Answers PDF for Bank

Quadratic Equation multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams

03-Jul-2024 by Careericons

Continue Reading »

IBPS Aptitude Linear Equations MCQ Questions Answers PDF

Linear equations multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams

03-Jul-2024 by Careericons

Continue Reading »

New 100+ Compound Interest MCQ with Answers PDF for IBPS

Compound Interest verbal ability questions and answers solutions with PDF for IBPS RRB PO. Aptitude Objective MCQ Practice Exercises all competitive exams

02-Jul-2024 by Careericons

Continue Reading »

100+ Mixture and Alligation MCQ Questions PDF for IBPS

Most importantly Mixture and Alligation multiple choice questions and answers with PDF for IBPS RRB PO. Aptitude MCQ Practice Exercises all Bank Exams

02-Jul-2024 by Careericons

Continue Reading »