(a) Finance Commission of India
(b) Investment Commission of India
(c) NITI Aayog
(d) None of these
Q2. The concept of Economic Planning in India is derived from which country?
(a) USA
(b) UK
(c) Russia
(d) France
Q3. Which of the following programmes is launched to develop basic infrastructure in the country?
(a) Bharat Nirman Programme
(b) Technical Mission
(c) Special Economic Zones
(d) National Rural Employment Guarantee Act
Q4. Which sector is the backbone of Indian economy?
(a) Service Sector
(b) Financial Sector
(c) Tourism Sector
(d) Agriculture Sector
Q5.Which sector of Indian economy has shown remarkable expansion during the last decade?
(a) Primary sector
(b) Secondary sector
(c) Tertiary sector
(d) Mining sector
Q6. Find the correct match:
(a) An enquiry into the nature and causes of the wealth of the nation: A.C.Pigou.
(b) Science which deals with wealth: Alfred Marshall.
(c) Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses: Robbins.
(d) The range of our enquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money: Adam Smith.
Q7.The slogan of ‘poverty abolition’ was given in which Five Year Plan?
(a) Second plan
(b) Fourth plan
(c) Fifth plan
(d) Sixth plan
Q8. Economics, according to Lionel Robbins, is a
(a) normative science
(b) applied science
(c) positive science
(d) experimental science
Q9. Which of the following is a normative statement?
(a) Planned economies allocate resources via government departments.
(b) Most transitional economies have experienced problems of falling output and rising prices over the past decade.
(c) There is a greater degree of consumer sovereignty in market economies than planned economies.
(d) Reducing inequality should be a major priority for mixed economies.
Q10. Economic goods are considered scarce resources because they
(a) cannot be increased in quantity.
(b) do not exist in adequate quantity to satisfy social requirements.
(c) are of primary importance in satisfying social requirements.
(d) are limited to man made goods.
Q11. In India, planned economy is based on?
(a) Gandhian system
(b) Socialist system
(c) Capitalist system
(d) Mixed economy system
Q12. Which of following statement is true about the Primary deficit?
(a) It is difference between Revenue Receipts and Revenue Expenditure
(b) It is difference between Capital Receipts and Interest Payment
(c) It is difference between the Fiscal Deficit and Interest Payment
(d) It is addition of Fiscal Deficit and Interest Payment
Q13. Why is demographic dividend likely to be manifested in India in future?
(a) Population in the age group between 8-15 years is likely to increase.
(b) Population of children below 7 years is likely to increase
(c) Population in the age group of 15-64 years is likely to increase
(d) Population in the age group above 65 years is likely to increase
Q14. A capitalist economy uses__________ as the principal means of allocation resources.
(a) demand
(b) supply
(c) efficiency
(d) prices
Q15. In a free market economy, when consumers increase their purchase of a good and the level of __________ exceeds __________ then prices tend to rise.
(a) demand, supply
(b) supply, demand
(c) prices, demand
(d) profits, supply
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