The Ultimate Trivia Quiz On Economic And Social Development

10 Questions

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Economics Quizzes & Trivia

Different factors affect the economic status of a country or individual, and one of the most common is the political environment and inflation as a whole. Over the past few weeks, we have covered much about economic and social development, and the ultimate quiz below will test just how much you got to understand so far. All the best!


Questions and Answers
  • 1. 
    "Inflation increases the average level of prices". What does this statement refers to? 1. The price of commodities exceeds income 2. In real terms, the Money supply grows at a higher rate than the Gross Domestic ProductSelect the correct answer
    • A. 

      Only 1

    • B. 

      Only 2

    • C. 

      Both 1 and 2

    • D. 

      Neither 1 nor 2

  • 2. 
    What is the purpose of central & state warehousing corporations?
    • A. 

      Provide storage facility

    • B. 

      Provide new tools for farming

    • C. 

      Distribute seeds

    • D. 

      None of these

  • 3. 
    Among the following, which areas are reserved for public sector as per Government of India's Industrial Policy?1. Aircrafts2. Atomic energy3. Petroleum4. Railway transportChoose the correct code:
    • A. 

      1 and 2

    • B. 

      2 and 3

    • C. 

      3 and 4

    • D. 

      2 and 4

  • 4. 
    As per Census 2011, which Indian state has made significant progress in total literacy. Additionally, this state has the widest gap between male & female literacy. Identify it from the given options.
    • A. 

      Uttar Pradesh

    • B. 

      Bihar

    • C. 

      West Bengal

    • D. 

      None of these

  • 5. 
    In India, 9 Ultra Mega Power Projects that are being set up in different parts will use ________ as fuel.
    • A. 

      CNG

    • B. 

      Methane

    • C. 

      Coal

    • D. 

      None of these

  • 6. 
    The workers in the organized sector of India are what percent of total work force?
    • A. 

      15%

    • B. 

      50%

    • C. 

      7%

    • D. 

      20%

  • 7. 
    In keeping with which of the following, the annual financial statement is laid before 2 Houses of Parliament?
    • A. 

      Article 22

    • B. 

      Article 50

    • C. 

      Article 60

    • D. 

      Article 112

  • 8. 
    India has been classified as ___________ by the World Bank on the basis of the size & composition of external debt.
    • A. 

      Less indebted country

    • B. 

      Highly indebted country

    • C. 

      Moderately indebted country

    • D. 

      None of these

  • 9. 
    Which among the following is the most important source of tax revenues of union government?
    • A. 

      Value Added Tax

    • B. 

      Union Excise Duties

    • C. 

      Progressive Tax

    • D. 

      None of these

  • 10. 
    Which country has adopted Gross National Happiness in order to define the index of well-being of its citizens?
    • A. 

      Australia

    • B. 

      Japan

    • C. 

      India

    • D. 

      Bhutan