mcq on Basic Concept of Economy

Basic Concept of Economy


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

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

Answer is – Bihar

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

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

Answer is -Tertiary sector

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

Answer is -Net foreign investment of the above

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

Answer is – Variable cost

7.Those who benefit from inflation are WBCS-2004

Answer is -Debtors

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

Answer is – Income-import method

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

Answer is -Central Statistical Organisation

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

Answer is – third largest economy

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

Answer is – Sum total of factor incomes

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

Answer is – Services Sector

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

Answer is -Fixed income group

14.What is capital? WBCS-2012

Answer is -Capital is produced means of production

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

Answer is – Services sector

16.BPL means WBCS-2013

Answer is – Below Poverty Line

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

Answer is -2011

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

Answer is – Disguised unemployment

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

Answer is – increase in the balance of payment deficit

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

Answer is -NABARD

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