Economic And Social Development Trivia Questions!

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Economic And Social Development Trivia Questions! - Quiz

Economic development is all about growth in the amount of input of a sector, whereas social development involves how people come together to ensure that the event takes place. Below are some economic and social development trivia questions that you can use to measure out just how much you understood our previous topic. Give it a shot and share it with your classmates.


Questions and Answers
  • 1. 

    Which country has successfully commenced financial discipline through Fiscal Responsibility Act?

    • A.

      India

    • B.

      New Zealand

    • C.

      Australia

    • D.

      None of these

    Correct Answer
    B. New Zealand
    Explanation
    New Zealand has successfully commenced financial discipline through the Fiscal Responsibility Act. This act was implemented to ensure that the government maintains fiscal prudence and accountability in managing public finances. It sets out principles of responsible fiscal management, including maintaining debt at prudent levels and achieving and maintaining a sustainable fiscal position. The act also requires the government to produce regular reports on its fiscal performance and policies, enhancing transparency and accountability.

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  • 2. 

    The annual publication of __________ is World Investment Report.

    • A.

      SEBI

    • B.

      SAARC

    • C.

      UNCTAD

    • D.

      None of these

    Correct Answer
    C. UNCTAD
    Explanation
    The annual publication of the World Investment Report is conducted by UNCTAD. UNCTAD stands for the United Nations Conference on Trade and Development, an organization that promotes sustainable development and international trade. This report provides valuable insights and analysis on global investment trends and policies, making it a significant publication in the field.

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  • 3. 

    Among the following, which sector has pulled towards itself the maximum FDI during the last 4 years?

    • A.

      Telecommunications

    • B.

      Software

    • C.

      Pharmaceuticals

    • D.

      Fast Moving Consumer Goods

    Correct Answer
    B. Software
    Explanation
    The software sector has attracted the maximum Foreign Direct Investment (FDI) in the last 4 years. This indicates that international investors have shown a significant interest in investing in software companies and technologies. The software sector is known for its potential for growth, innovation, and high profitability, which could explain why it has been able to attract a large amount of FDI. Additionally, the increasing demand for software solutions and services globally may have contributed to the sector's attractiveness to foreign investors.

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  • 4. 

    India is a member of International Energy Forum (lEF). IEF provides a platform for which of the following?

    • A.

      Promoting use of renewable energy sources

    • B.

      Dialogue between energy producing & consuming countries

    • C.

      Both A and B

    • D.

      Neither A nor B

    Correct Answer
    B. Dialogue between energy producing & consuming countries
    Explanation
    The International Energy Forum (IEF) provides a platform for dialogue between energy producing and consuming countries. It serves as a forum for member countries to discuss and address energy-related issues, including supply and demand, market stability, and geopolitical concerns. The IEF facilitates cooperation and collaboration among member countries to ensure a secure, reliable, and sustainable energy future. India's membership in the IEF allows it to actively participate in these discussions and contribute to global energy dialogue.

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  • 5. 

    In India, what is the percentage of Labour participation of women?

    • A.

      10%

    • B.

      20%

    • C.

      30%

    • D.

      40%

    Correct Answer
    B. 20%
    Explanation
    In India, the percentage of labor participation of women is 20%. This means that out of the total female population, 20% of them are engaged in some form of labor or work. This statistic indicates that there is still a significant gender gap in the workforce, with a large portion of women not actively participating in the labor market. Factors such as cultural norms, lack of opportunities, and gender discrimination may contribute to this lower labor participation rate among women in India.

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  • 6. 

    Among the following, which is not a method of estimating national income?

    • A.

      Export-import method

    • B.

      Product method

    • C.

      Expenditure method

    • D.

      Income method

    Correct Answer
    A. Export-import method
    Explanation
    The export-import method is not a method of estimating national income. The export-import method is used to calculate the balance of trade, which measures the difference between a country's exports and imports. It does not provide a comprehensive estimate of national income, which is typically measured using methods such as the product method, expenditure method, and income method. These methods take into account various factors such as production, consumption, and income generation to provide a more accurate estimate of a country's national income.

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  • 7. 

    The characteristics of 'Public Goods' are?1. The enjoyment of one is not at the expense of others.2. These are available to everyone without discrimination.

    • A.

      Only 1

    • B.

      Only 2

    • C.

      Both 1 and 2

    • D.

      Neither 1 nor 2

    Correct Answer
    C. Both 1 and 2
    Explanation
    Public goods are goods that are non-excludable and non-rivalrous. Non-excludable means that it is impossible to prevent anyone from using the good, and non-rivalrous means that one person's use of the good does not diminish its availability to others. Therefore, the characteristics of public goods align with both statements 1 and 2. The enjoyment of a public good by one person does not come at the expense of others, and public goods are available to everyone without discrimination.

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  • 8. 

    What do we call the belief that economic growth will percolate down to all sectors?

    • A.

      Pump priming

    • B.

      Decentralised growth theory

    • C.

      Trickle down

    • D.

      None of these

    Correct Answer
    C. Trickle down
    Explanation
    Trickle down refers to the belief that economic growth will eventually benefit all sectors of society. This theory suggests that as wealth accumulates at the top, it will gradually "trickle down" to lower-income individuals and eventually stimulate economic growth throughout the entire economy. This idea is often associated with policies that prioritize tax cuts and deregulation for the wealthy in the hope that their increased wealth will lead to increased investment and job creation, ultimately benefiting everyone.

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  • 9. 

    The most urbanized state among the major Indian states is?

    • A.

      Uttar Pradesh

    • B.

      Madhya Pradesh

    • C.

      Bihar

    • D.

      Tamil Nadu

    Correct Answer
    D. Tamil Nadu
    Explanation
    Tamil Nadu is the most urbanized state among the major Indian states because it has a high concentration of urban areas and a significant proportion of its population residing in cities. The state has several major cities like Chennai, Coimbatore, and Madurai, which are important economic and cultural centers. Tamil Nadu's urbanization can be attributed to its industrial development, educational institutions, and infrastructure facilities. The state's urban areas offer better employment opportunities and a higher standard of living, attracting people from rural areas to migrate and settle in cities.

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  • 10. 

    What is the difference between GNP & NNP?

    • A.

      It is equal to the consumer expenditure on durable goods

    • B.

      It is equal to indirect tax revenue

    • C.

      It is equal to capital depreciation

    • D.

      None of these

    Correct Answer
    D. None of these

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Jun 18, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 13, 2015
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    Tanmay Shankar
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