Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations. These questions are part of GKToday’s 35000+ MCQs Bank Course in GKToday Android App
31. Sardar Sarovar hydroelectric project is associated with which river?
[A] Mahanadi
[B] Narmada
[C] Godavari
[D] Luni
Show Answer
Correct Answer: B [Narmada]
Notes:
Sardar Sarovar hydroelectric project is associated with the Narmada river. It is in Gujarat.
32. In which year Chernobyl nuclear disaster took place?
[A] 1986
[B] 1988
[C] 1984
[D] 1990
Show Answer
Correct Answer: A [1986]
Notes:
The Chernobyl disaster in 1986 is one of the major nuclear disasters in the history of mankind. The Chernobyl reactor is there in Ukraine.
33. What is the currency of Iraq?
[A] Dinar
[B] Riyal
[C] Dirham
[D] Lira
Show Answer
Correct Answer: A [Dinar]
Notes:
The Iraqi dinar is the currency of Iraq. It is issued by the Central Bank of Iraq.
34. How many National Commissions on Labour have been set up In India so far?
[A] One
[B] Two
[C] Three
[D] Four
Show Answer
Correct Answer: B [Two]
Notes:
The First National Commission on Labour was set up in 1966 which, for the first time, studied and analyzed the industrial relations in the country. The Second National Commission on Labour was set up in 1999, which analysed the industrial relations in India in the era of globalisation.
35. Which department in India, is related to registration of patents?
[A] Department for Promotion of Industry and Internal Trade
[B] Department of Science and Technology
[C] Department of Innovation
[D] Department of Higher Education
Show Answer
Correct Answer: A [Department for Promotion of Industry and Internal Trade]
Notes:
The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India has recently brought the Patents (Amendment) Rules, 2021. Under the revised rules, the processing fee levied on educational institutions for filing patents has been reduced by 80%.
This move is aimed to encourage greater participation of the educational institutions in the innovation ecosystem in the country.
36. Which of the following is market segmentation?
[A] Group of Sales Persons
[B] Dividing target groups as per their needs
[C] Market Division
[D] Market Space
Show Answer
Correct Answer: B [Dividing target groups as per their needs]
Notes:
In microeconomics, an Engel curve describes how household expenditure on a particular good or service varies with household income. The curve is named after the German statistician Ernst Engel (1821–1896), who in 1857 was the first to systematically examine the relationship between goods expenditure and income.
37. What is the problem of economics?
[A] Plenty
[B] Scarcity of goods
[C] More wants and less goods
[D] All of the above
Show Answer
Correct Answer: C [More wants and less goods]
Notes:
An economic problem is the choice that arises out of limited resources and unlimited wants.
38. When the output is equal to zero, what is the variable cost?
[A] constant
[B] zero
[C] minimum
[D] maximum
Show Answer
Correct Answer: B [zero]
Notes:
Variable costs are those costs that vary with the level of output. When output is zero, variable costs are zero, but as output increases, variable costs increase. This continues to grow to the point that economies of scale can no longer reduce the cost per unit, hence the heavy fallout.
39. _____ is not constrained by prior work.
[A] joint venture
[B] franchise
[C] strategic alliance
[D] greenfield project
Show Answer
Correct Answer: D [greenfield project]
Notes:
A greenfield project is constructed on unused land where no further demolition or construction is required. For example, airports, power plants, factories built from scratch.
40. What is the best indicator of economic development of any country?
[A] per capita income
[B] per person expense
[C] calorie consumption
[D] women empowerment
Show Answer
Correct Answer: A [per capita income]
Notes:
Per capita income is considered as a better indicator of economic growth since it measures the average income earned per person in a country in a specified year. It serves as an indicator of a country’s living standards and how wealth or income is distributed across the population.
