Important Economy Questions for SSC Exam 2018: 26 December

Dear Readers, GA section is taken on the light note but plays a vital role in achieving the score required to cross the cut off marks.We are providing Important Economy Questions for this, it will help you to score good in GA section if you regularly follow the contents provided on scaffold website and adda247 app regarding general knowledge important questions.We wish you the best wishes for all the upcoming exams.

Q1. In which of the following market forms, a firm does not exercise control over price? निम्नलिखित में से किस बाजार में, कोई कंपनी कीमत पर नियंत्रण नहीं रखता है?

(a) Monopoly/ एकाधिकार

(b) Perfect competition/ पूर्ण प्रतियोगिता

(d)Monopolistic competition/ एकाधिकारी प्रतियोगिता

Solution:

Perfect Competition is a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.

Q2. An indifference curve measures _________ level of satisfaction derived from different combinations of commodity X and Y. एक उदासीनता वक्र जिंस X और Y के विभिन्न संयोजनों से प्राप्त संतुष्टि के _________ स्तर को मापता है।

(a) same /समान

(b) higher /उच्च

(d) minimum /न्यूनतम

Solution:

An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility.

Q3. Trickle down theory ignores the impact of economic growth on – ट्रिकल डाउन सिद्धांत ______ पर आर्थिक विकास के प्रभाव को अनदेखा करता है।

(a) Investment/ निवेश

(b) Savings/ बचत

(d) Consumption/ उपभोग

Solution:

Trickle-down economics, or “trickle-down theory,” states that tax breaks and benefits for corporations and the wealthy will trickle down to everyone else. It argues for income and capital gains tax breaks or other financial benefits to large businesses, investors and entrepreneurs to stimulate economic growth. It ignores the impact of economic growth on income distribution.

Q4. What is a bank rate? / बैंक दर क्या है?

(a) Rate at which Central bank of a country advances loans to other banks in the country / वह दर जिस पर किसी देश का केंद्रीय बैंक देश के अन्य बैंकों को अग्रिम देता है

(b) Rate at which banks advance loans to the customers/ वह दर जिस पर बैंक ग्राहकों को ऋण देते हैं

(d) Rate at which banks lend to money lenders / वह दर जिस पर बैंक साहूकारों को उधार देते हैं

Solution:

Bank rate is the rate charged by the central bank for lending funds to commercial banks.

Q5. If price of an article decreases from P1 to Rs 25, quantity demanded increases from 900 units to 1200 units. If point elasticity of demand is 2 find P1? यदि एक वस्तु का मूल्य P1से घटकर 25 रूपये हो जाता है, तो मांग की मात्रा में 900 इकाई से 1200 इकाई तक की वृद्धि होती है। यदि मांग की लोच का बिंदु 2 है, तो P1 ज्ञात कीजिये।

(a) Rs. 20

(b) Rs. 30

(d) Rs. 15

Solution:

Elasticity= (ΔQ/ΔP) × (P/Q) where ΔQ is change in Quantity and ΔP is change in Price.

Q6. A company faces a -2.5 price elasticity of demand for its product. It is presently selling 10,000 units/month. If it wants to increase quantity sold by 6%, it must lower its price by – एक कंपनी अपने उत्पाद के लिए -2.5 मूल्य मांग की लोच का सामना करता है। यह वर्तमान में 10,000 इकाई प्रति माह बिक्री करता है। यदि यह बेची गई मात्रा में 6% वृद्धि करना चाहता है, तो इसके मूल्य को कितना कम करना चाहिए?

(a) 3.50%

(b) 15%

(d) 2.4%

Solution:

ELASTICITY= (%change in the quantity) / (%change in the price)

Q7. In 2015 the nominal rate of interest in country was 6%, and the inflation rate then was 1.5%. So real rate of interest in 2015 was 2015 में किसी देश में ब्याज की नोमिनल दर 6% थी, और तब मुद्रास्फीति की दर 1.5% थी। 2015 में वास्तविक ब्याज दर थी:

(a) 7.5%

(b) 4.5%

(d) 0.25%

Solution:

Real interest rate is approximately the nominal interest rate minus the inflation rate.

Q8. At which rate, Reserve Bank of India borrows money from commercial banks? भारतीय रिजर्व बैंक किस दर पर, वाणिज्यिक बैंकों से पैसा उधार लेता है?

(a) Bank Rate/ बैंक दर

(b) Repo Rate / रेपो दर

(d) Statutory Liquidity Rate/ वैधानिक तरलता दर

Solution:

Reverse Repo rate is the rate at which RBI borrows money from the commercial banks. It is a monetary policy instrument which can be used to control the money supply in the country.

Q9. Commercial banks lend to which of the following Priority sectors? वाणिज्यिक बैंक निम्नलिखित में से किस प्राथमिकता वाले क्षेत्र को उधार देते हैं?

(a) Heavy Industries/ भारी उद्योग

(b) Agriculture, Small scale industries/ कृषि, लघु उद्योग

(d) State government in emergency situation/ आपातकालीन स्थिति में राज्य सरकार

Solution:

Priority Sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. It is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.

Q10. 'Residex' is associated with : 'रेसिडेक्स' किससे सम्बंधित है:

(a) Share prices/ शेयर की कीमत

(b) Price inflation/ मूल्य मुद्रास्फीति

(d) Land prices/ भूमि की कीमत

Solution:

The RESIDEX was first launched in 2007 by the National Housing Bank (NHB) to provide an index of residential prices in India across cities and over time. So, it is associated with land prices.

Q11. Special Drawing Rights were created by – विशेष आहरण अधिकार किसके द्वारा बनाए गए

(a) IBRD/आईबीआरडी

(b) ADB/एडीबी

(d) WTO/ डब्ल्यू.टी.ओ

Solution:

Special drawing rights are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). IMF headquarters are in Washington D.C.

Q12. MUDRA Bank has been launched to help किसकी सहायता के लिए मुद्रा (MUDRA) बैंक लॉन्च किया गया है

(a) Small business / छोटा व्यवसाय

(b) Marginal farmers/ सीमांत कृषक

(d) Rural sector/ ग्रामीण क्षेत्र

Solution:

Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs (small business). It was launched by Prime Minister Narendra Modi on 8 April 2015.

Q13. Which of the following taxes is levied by the State Government only? निम्नलिखित में से कौन सा कर केवल राज्य सरकार द्वारा लगाया जाता है?

(a) Wealth tax/ धन कर

(b) Entertainment tax/ मनोरंजन कर

(d) Corporate tax/ कॉर्पोरेट टैक्स

Solution:

Entertainment tax is a duty that is charged by the government on any source of entertainment provided. This tax can be charged on movie tickets, tickets to amusement parks, exhibitions and even sports events. Entertainment tax is levied by the State Government only.

Q14. The operational period of 12th Five Year Plan is – 12 वीं पंचवर्षीय योजना की परिचालन अवधि है

(a) 2007-12

(b) 2012-17

(d) 2005-10

Solution:

The operational period of 12th Five Year Plan is 2012-2017. It aims at a growth rate of 8%.

Q15. Swarna Jayanti Gram Swarojgar Yojna has now been restructured as स्वर्ण जयंती ग्राम स्वरोजगार योजना का अब किस नाम से पुनर्गठित किया गया है?

(a) Prime Minister's Rojgar Yojna/ प्रधान मंत्री रोजगार योजना

(b) National Rural Livelihoods Mission/ राष्ट्रीय ग्रामीण आजीविका मिशन

(d) Sampoorna Gramin Rojgar Yojana/ सम्पूर्ण ग्रामीण रोजगार योजना

Solution:

National Rural Livelihoods Mission (NRLM) was launched by the Ministry of Rural Development (MoRD), Government of India in June 2011. It is restructured form of Swarna Jayanti Gram Swarojgar Yojna.

You may also like to read:

- https://www.sscadda.com/2018/12/economy-questions-for-ssc-26-dec.html

Important Economy Questions for SSC Exam 2018: 26 December

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