Economics: Solved 83 Economics Questions and answers section with explanation for various online exam preparation, various interviews, Logical Reasoning Category online test. Category Questions section with detailed description, explanation will help you to master the topic.

Economics Questions

1. In economics, a good whose demand decreases when consumer income rises is called _________.




SHOW ANSWER
Correct Ans:Inferior good
Explanation:
In economics, an inferior good is a good whose demand decreases when consumer income rises (or demand increases when consumer income decreases), unlike normal goods, for which the opposite is observed.


2. In Economics the capital mainly owned by the government that is the basic infrastructure facilities and services needed for the functioning of a community or society is known as __________.




SHOW ANSWER
Correct Ans:
Explanation:
A Social Overhead Capital (SOC) is the social capital mainly owned by the government that is the basic facilities and services needed for the functioning of a community or society, such as transportation (roads), education and health (schools, public libraries, and hospitals), communications and utilities (telephones, water, electricity), etc. The SOC term can be used as the economic overhead facilities and economic infrastructure.


3. Global Hunger Index (GHI) is published by 




SHOW ANSWER
Correct Ans:International Food Policy Research Institute (IFPRI)
Explanation:
TheGlobal Hunger Index(GHI) is tool that measures and tracks hunger globally, by region, and by country. The GHI is updated once a year.

The Index was adopted and further developed by the International Food Policy Research Institute (IFPRI), and was first published in 2006 with the Welthungerhilfe, a German nonprofit organization (NPO). Since 2007, the Irish NGO Concern Worldwide also become a co-publisher.


4. The Government of India has released ________________ grant for Terai roads project in Nepal to maintain fund liquidity for the ongoing construction of 14 road packages under Postal Highway Project. 




SHOW ANSWER
Correct Ans:470 million Nepali rupees
Explanation:
The Government of India has released 470 million Nepali rupees grant for Terai roads project in Nepal. Indian Ambassador to Nepal Manjeev Singh Puri handed over a cheque of grant to Secretary, Ministry of Physical Infrastructure and Transport of Nepal, Madhusudan Adhikari in Kathmandu, Nepal.


5. The exchange of commodities between two countries is referred as ___________. 




SHOW ANSWER
Correct Ans:Volume of trade
Explanation:


6. What is the Minimum Support Price of the wheat for 2014-15?




SHOW ANSWER
Correct Ans:1450/quintal
Explanation:


7. The twelfth five year plan has the target to increase the spending on the health sector to _____




SHOW ANSWER
Correct Ans:2 % of the GDP
Explanation:


8. Which of the following statement is Not correct?




SHOW ANSWER
Correct Ans:Gift tax is indirect tax.
Explanation:


9. Which currency is included in the basket of International Monetary Fund (IMF) recently?




SHOW ANSWER
Correct Ans:Yuan
Explanation:


10. If interest payment is deducted from the fiscal deficit then what would left?




SHOW ANSWER
Correct Ans:Primary deficit
Explanation:


11. What is the target of fiscal deficit in the year 2016-17?




SHOW ANSWER
Correct Ans:3.60%
Explanation:


12. How many companies are represented in the BSE SENSEX?




SHOW ANSWER
Correct Ans:30
Explanation:


13. Who is called the father of Operation Flood in India?




SHOW ANSWER
Correct Ans:Verghese Kurien
Explanation:


14. Who is the chairman of the 14th finance commission of India?




SHOW ANSWER
Correct Ans:Y. Venugopal Reddy
Explanation:


15. Which of the following is the biggest contributor of foreign exchange reserve of India?




SHOW ANSWER
Correct Ans:Foreign currency assets
Explanation:


16. Which of the following is not matched correctly?




SHOW ANSWER
Correct Ans:IFC established:1947
Explanation:


17. Which of the following statement is correct about International Monetary Fund?




SHOW ANSWER
Correct Ans:A member of IMF automatically becomes member of World Bank.
Explanation:


18. Which of the following statement is not correct about INDIA VISION-2020?




SHOW ANSWER
Correct Ans:It was designed by the Dr. Sam Pitroda
Explanation:


19. What is the duration of fourth five year plan?




SHOW ANSWER
Correct Ans:From April 1969 to March 1974
Explanation:


20. Which of the following sector is not covered under the Bharat Nirman Programme?




SHOW ANSWER
Correct Ans:Health & Nutrition
Explanation:





Are you seeking for good platform for practicing Economics questions in online. This is the right place. The time you spent in Fresherslive will be the most beneficial one for you.

Online Test on Economics @ Fresherslive

This page provides important questions on Economics along with correct answers and clear explanation, which will be very useful for various Interviews, Competitive examinations and Entrance tests. Here, Most of the Economics questions are framed with Latest concepts, so that you may get updated through these Economics Online tests. Economics Online Test questions are granted from basic level to complex level.

Why To Practice Economics Test questions Online @ Fresherslive?

Economics questions are delivered with accurate answer. For solving each and every question, very lucid explanations are provided with diagrams wherever necessary.

Practice in advance of similar questions on Economics may improve your performance in the real Exams and Interview.

Time Management for answering the Economics questions quickly is foremost important for success in Competitive Exams and Placement Interviews.

Through Fresherslive Economics questions and answers, you can acquire all the essential idea to solve any difficult questions on Economics in short time and also in short cut method.

Winners are those who can use the simplest method for solving a question. So that they have enough time for solving all the questions in examination, correctly without any tense. Fresherslive provides most simplest methods to answer any tough questions. Practise through Fresherslive test series to ensure success in all competitive exams, entrance exams and placement tests.

Why Fresherslive For Economics Online Test Preparation?

Most of the job seekers finding it hard to clear Economics test or get stuck on any particular question, our Economics test sections will help you to success in Exams as well as Interviews. To acquire clear understanding of Economics, exercise these advanced Economics questions with answers.

You're Welcome to use the Fresherslive Online Test at any time you want. Start your beginning, of anything you want by using our sample Economics Online Test and create yourself a successful one. Fresherslive provides you a new opportunity to improve yourself. Take it and make use of it to the fullest. GOODLUCK for Your Bright Future.

Mock Test Premium Package

₹ 2200 ₹ 575

Banking, Railway, Insurance, SSC etc

Access 100+ Test series

Validity 12 months

One-time payment

Covers Latest Pattern

Includes all sections

1,000+ questions in each section

Clear Explanation for each question

BUY NOW



FreshersLive - No.1 Job site in India. Here you can find latest 2019 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.