mcq on Basic Concept of Economy

Basic Concept of Economy

WBCS PRE MCQ QUESTION

WBCS 2017 – 4 MARKS
WBCS 2016 – 1 MARKS
WBCS 2015 – 3 MARKS
WBCS 2014 – 3 MARKS
WBCS 2013 – 3 MARKS
WBCS 2012 – 2 MARKS
WBCS 2011 – 0 MARKS

1. A mixed economy is one WBCS-1999

A) ) Where domestic and foreign trade are

B)When private and public economic units operate side by side

C)Public Sector operate successfully

D)Where private sector is policed by the State Sector

… Answer is -When private and public economic units operate side by side

2.In India the per capita income is the lowest in WBCS-2000

A)West Bengal

B)Rajasthan

C)Bihar

D)Kerala

… Answer is – Bihar

3.Balance of Payments Account of a country WBCS-2002

A)Records the country’s economic transactions with the rest of the world

B) Shows the amount of loans taken by the country from foreign countries

C) Shows the amount of loans given by the country to foreign countries

D)None of the above Important Points:

… Answer is -Records the country’s economic transactions with the rest of the world

4.In a developed economy the major share of employment originates in the WBCS-2003

A)Primary sector

B)Secondary sector

C)Tertiary sector

D)None

… Answer is -Tertiary sector

5.Which of the following is not required while considering GNP (Gross National Product)? WBCS-2003

A)Purchase of goods by Government

B)Private investment

C)Per capita income of citizens

D)Net foreign investment of the above

… Answer is -Net foreign investment of the above

6.Which of the following increases continuously with increase in production ? WBCS-2003

A)Fixed cost

B)Variable cost

C) Marginal cost

D)Marginal cost

… Answer is – Variable cost

7.Those who benefit from inflation are WBCS-2004

A)Creditors

B)Debtors

C)Wage-carners

D)Salaried

… Answer is -Debtors

8.Which of the following is not a method of estimating the national income of a country? WBCS-2004

A)Product method

B) Income method

C)Expenditure method

D)Income-import method

… Answer is – Income-import method

9.Which of the following estimates the national income of India? WBCS-2004

A)Indian Standard Institution

B)Indian Statistical Institute

C)Central Statistical Organisation

D)None of the above

… Answer is -Central Statistical Organisation

10.According to Purchasing Power Parity (PPP) India is. WBCS-2007

A)Tenth largest economy

B) Fifth largest economy

C)third largest economy

D) Seventh largest economy

… Answer is – third largest economy

11.The national income of a country is WBCS-2008

A)The Annual Revenue of the Government

B)Sum total of factor incomes

C)Surplus of Public Sector Undertakings

D)Export minus Import

… Answer is – Sum total of factor incomes

12.The largest source of India’s Gross Domestic Produce is WBCS-2009

A)Agriculture and Allied Activities

B)Foreign Trade

C)Manufacturing, Construction Industry, Electricity and Gas

D)Services Sector

… Answer is – Services Sector

13.Which group of the society is worst affected by continuous inflationary price rise WBCS-2012

A) Traders and merchants

B)The investors class

C) Self-employed group

D) Fixed income group

… Answer is -Fixed income group

14.What is capital? WBCS-2012

A)Money is capital

B)Machineries and building capital

C)Capital is produced means of production

D) None of the above

… Answer is -Capital is produced means of production

15.Share of the sector in India’s GDP is highest WBCS-2013

A)Agricultural sector

B)Industrial sector

C) Services sector

D)Foreign Trade sector

… Answer is – Services sector

16.BPL means WBCS-2013

A)Below Poverty Line

B)Behind Public Litigation

C) Beyond Private Limits

D)Barren Public Land

… Answer is – Below Poverty Line

17.The latest population Census was undertaken in WBCS-2013

A)2011

B)1991

C)2005

D)2001

… Answer is -2011

18.If withdrawal of a worker from employment does not create any output loss, this situation is known as WBCS-2014

A)Search unemployment

B) Voluntary unemployment

C)Disguised unemployment

D)Frictional unemployment

… Answer is – Disguised unemployment

19.Find out the statement which is false. Financial Structural reform needs WBCS-2014

A)fall in government budget deficit

B)increase in profitability of economic sectors.

C) reduce inflationary pressure

D)increase in the balance of payment deficit

… Answer is – increase in the balance of payment deficit

20.Apex Bank for supplying agricultural credit is WBCS-2014

A)Reserve Bank of India

B)State Bank of India

C)NABARD

D)none of

… Answer is -NABARD

Basic Concept of Economy

WBCS PRE MCQ QUESTION

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