Top 550+ Solved Economics (GK) MCQ Questions Answer
Q. Core Industries are -
a. Basic industries
b. Consumer goods industries
c. Capital goods industries
d. Government industries
Q. The hypothesis that rapid growth of per capita income will be associated with a reduction in poverty is called -
a. trickle down Hypothesis
b. trickle up hypothesis
c. U shaped hypothesis
d. poverty estimation hypothesis
Q. "he national income consists of a collection of goods and services reduced to common basis by being measured in terms of money,"— Who says this?
a. Samuelson
b. Kuznets
c. Hicks
d. Pigou
Q. Gross National Product means -
a. gross value of finished goods
b. money values of the total national production for any given period
c. gross value of raw materials and semi- finished products
d. money value of inputs and outputs
Q. The self-employed in a developing country who are engaged in small scale labour intensive work belong to the -
a. Informal sector
b. Primary sector
c. Secondary sector
d. Tertiary sector
Q. The incomes of Indians working abroad are a part of -
a. domestic income of India
b. income earned from Abroad
c. net domestic product of India
d. gross domestic product of India
Q. Production of a commodity mostly through the natural process is an activity of -
a. Primary Sector
b. Secondary Sector
c. Tertiary Sector
d. Technology Sector
Q. In which of the following market forms, a firm does not exercise control over price?
a. Monopoly
b. Perfect competition
c. Oligopoly
d. Monopolistic competition
Q. Which of the following is a tertiary activity?
a. Farming
b. Manufacturing
c. Dairying
d. Trading
Q. Sellers market denotes a situation where :
a. commodities are available at competitive rates
b. demand exceeds supply
c. supply exceeds demand
d. supply and demand are evenly balanced
Q. The fixed cost on such factors of production which are neither hired nor bought by the firm is called -
a. social cost
b. opportunity cost
c. economic cost
d. surcharged cost