Economics Important Questions Set-2 for SSC CGL and SSC CHSL Exam

Economics Important Questions Set-2 for SSC CGL and SSC CHSL Exam
Economics Important Questions Set - 2 for SSC CGL and SSC CHSL 2017

Economics Important Questions Set-2 for SSC CGL and SSC CHSL 2017. This page contains Practice Questions on Economics with answers for important SSC CGL, SSC CHSL or 10+2 and other competitive exams. These Multiple Choice Questions has been collected by our team from different previous years exams like SSC CGL, CHSL or 10+2. We hope this will helpful  in enhancing your knowledge.

1). The total numbers of nationalized bank in India is

  1. 14
  2. 19
  3. 21
  4. 30

Answer : 2. 19

2). In which plan was self-reliance first emphasized

  1. Second Plan
  2. Third Plan
  3. Fourth Plan
  4. Fifth Plan

Answer : 4. Fifth Plan

3). The full of IRDA is

  1. Insurance Regulatory and Development Authority
  2. International Reconstruction and Development Association
  3. India Road Development Agency
  4. International Refinance and Development Association

Answer : 1. Insurance Regulatory and Development Authority

4). International Monetary Fund helps India with

  1. short term capital to hide over any temporary difficulty in payment of balance
  2. long term capital for purposes of reconstruction and development
  3. medium term capital to build up infrastructure
  4. grants at subsidized rates to stimulate private investment

Answer : 2. long term capital for purposes of reconstruction and development

5). The demand curve for Giffen good is

  1. upward rising
  2. downward falling
  3. parallel to the quantity axis
  4. parallel to price axis

Answer : 1. upward rising

6). The main function of the World Trade Organization is :

  1. enforcing of Uruguay Round Agreements
  2. facilitating multi-lateral trade relations of members countries and reviewing trade policies
  3. administrating trade dispute policies
  4. None of these.

Answer : 2. facilitating multi-lateral trade relations of members countries and reviewing trade policies

7). The world bank normally gives :

  1. short-term loans
  2. medium term loans
  3. long-term loans
  4. medium and long-term loans

Answer : 4. medium and long-term loans

8). The IMF (International Monetary Fund) came into assistance with :

  1. Berlin Conference
  2. London Conference
  3. Brettonwoods Conference
  4. Rome Conference

Answer : 3. Brettonwoods Conference

9). Service Cooperatives are :

  1. single purpose societies
  2. single purpose societies
  3. marketing societies
  4. multiple-purpose societies

Answer : 3. Brettonwoods Conference

Answer : c. marketing societies

10). Structural adjustment loan loans given by the World Bank are meant for :

  1. increasing employment in agriculture
  2. increasing export-earning capacity of the borrower country
  3. reducing inequalities of income distribution
  4. encouraging capital -intensive  industries

Answer : 4. encouraging capital-intensive industries

Economics Important Questions Set-2 for SSC CGL and SSC CHSL Exam

11). The symbol of Reserve Bank of India is

  1. Capital of Ashok Pillar
  2. Kuber with a purse of money
  3. Tiger before a palm tree
  4. A dog sitting in a defensive state

Answer : 3. Tiger before a palm tree

12. When there is one buyer and many sellers then that situation is called as

  1. Monoply
  2. Single buyer right
  3. Down right
  4. Double buyers right

Answer : 2. Single buyer right 

13. Which Agency of Government has engaged to grade the standardise various agricultural products ? 

  1. Food Corporation of India
  2. Directorate of Marketing and Inspection
  3. Bureau of India Standards
  4. Central Statistical organization

Answer : 2. Directorate of Marketing and Inspection

14. What is the purpose of the India Brand Equity Fund ?

  1. To promote in - bound tourism
  2. To make "make in India "
  3. To organize trade fairs
  4. To provide venture capital to IT Sector

Answer : 2. To make "make in India "

15. Governance through trade union is known as :

  1. Guild Socialism
  2. Fabian Socialism
  3. Syndicalism
  4. Liberalism

Answer : 3. Syndicalism

16. Personal disposable income is :

  1. always equal to personal income.
  2. always more than person income.
  3. equal to person income minus direct taxes paid by household.
  4. equal to personal income minus taxes.

Answer : 3. equal to person income minus direct taxes paid by household

17. Which of the following most closely approximates our definition of oligopoly ?

  1. The cigarette industry.
  2. The barber shops
  3. The gasoline stations
  4. Wheat farmers

Answer : 1. The Cigarette Industry

18. Who said 'supply creates its own demand' ?

  1. Adam Smith
  2. J.B. Saw
  3. Marshall
  4. Ricardo

Answer : 2. J.B. Saw

19. The Indian Economy can be most appropriately described as a :

  1. Capitalist economy
  2. socialist economy
  3. Traditional economy
  4. Mixed economy

Answer : d. Mixed economy

20. One of the essential conditions of perfect competition is :

  1. Product differentiation
  2. Multiplicity of prices for identical products at any one time
  3. Many sellers and a few buyers
  4. Only one price for identical goods at any one time

Answer : 4. Only one price for identical goods at any one time

Economics Important Questions Set-2 for SSC CGL and SSC CHSL Exam

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