NTSE Economics MCQs Set A

Question: Which of the following is public limited company in the private sector ?

• a) TISCO
• b) TELCO
• c) OCM
• d) All of these

Answer: All of these

Question: Important economic activities which come under Jurisdiction of the states are :

• a) Education
• b) Irrigation
• c) Electricity
• d) All of these

Answer: All of these

Question: When the capital resources of a country are limited and the country is unable to provide job we call it :

• a) Under employment
• b) Structural unemployment
• c) Seasonal unemployment
• d) None of the above

Answer: Structural unemployment

Question: The major source of employment in India is :

• a) Industrial units under private sector
• b) Industrial units under public sector
• c) Agriculture and allied activities
• d) None of the above

Answer: Agriculture and allied activities

Question: Which of the following products are not distributed through PDS :

• a) Pulses
• b) Wheat
• c) Rice
• d) Sugar

Answer: Pulses

Question: Generally consumers are exploited by :

• a) Adulteration
• b) Falsification in the used of weights and measures
• c) Charging arbitrary prices
• d) All of the above

Answer: All of the above

Question: The Consumer Protection Act provides a separate three tier quasi judicial machinery at :

• a) Rural, urban and semi-urban levels
• b) National, state and district levels
• c) Primary, secondary and tertiary levels
• d) None of the above

Answer: National, state and district levels

Question: At present (in 2003), there are 35 state commissions and _____district forums besides the National Commission :

• a) 269
• b) 369
• c) 569
• d) 669

Answer: 569

Question: To prepare national standards in industrial products, materials etc. ISI came into existence in :

• a) January, 1947
• b) March, 1947
• c) August, 1947
• d) November, 1947

Answer: January, 1947

Question: Which of the following comes under tertiary sector ?

• a) Agriculture
• b) Industry
• c) Transport
• d) All of these

Answer: Transport

More Questions......................

Question: The people who are actually engaged, appears to be employed but are not fully employed. This type of unemployment is known as :-

• a) Disguised Unemployment
• b) Seasonal Unemployment
• c) Structural Unemployment
• d) None of the above

Answer: Disguised Unemployment

Question: Economic development depends on the development of the entire economy in :

• a) Primary sector
• b) Secondary sector
• c) Tertiary sector
• d) All of the above

Answer: All of the above

Question: Consumer education helps the children aware of their rights for :

• a) Survival
• b) Development
• c) Protection
• d) All of the above

Answer: All of the above

Question: According to the Optimum Theory of Population, India is :

• a) Less populated
• b) Evenly populated
• c) Over populated
• d) Not over populated

Answer: Over populated

Question: The government of India setup the Planning Commission under the chairmanship of

• a) Jawaharlal Nehru
• b) Mahatma Gandhi
• c) C.V. Raman
• d) Sardar Patel

Answer: Jawaharlal Nehru

Question: Which Plan, for the first time laid emphasis on the eradication of poverty ?

• a) Second
• b) Third
• c) Fourth
• d) Fifth

Answer: Fifth

Question: Quantitative tools refer to -

• a) Monetary policy
• b) Fiscal policy
• c) Planning techniques
• d) All the above

Answer: Monetary policy

Question: The amount of total outlay for the First Five Year Plan was -

• a) Rs. 3360 crores
• b) Rs. 3800 crores
• c) Rs. 4000 crores
• d) Rs. 5000 crores

Answer: Rs. 3360 crores

Question: During the first Five Year Plan, per capital income increased by nearly -

• a) 5%
• b) 10%
• c) 11%
• d) 20%

Answer: 11%

Question: The objectives of Second Five Year Plan was to -

• a) Raise the standard of living of people by increasing their income
• b) Provided employment to people
• c) Set up heavy and basic industries
• d) All the above

Answer: All the above

Question: The Third Five Year Plan could not achieve its targets due to-

• a) Adverse weather
• b) Chienese aggression
• c) Indo - Pak war
• d) All the above

Answer: All the above

Question: The integrated Rural Development Programme (IRDP) was launched during___ Five Year Plan.

• a) Sixth
• b) Second
• c) Third
• d) Fourth

Answer: Sixth

Question: Cause of price rise is -

• a) Demand for goods and services are not met with adequate supplies
• b) The cost of production goes up as the cost of raw material rises
• c) Illegal ways like black marketing and hoarding
• d) All the above

Answer: All the above

Question: The chairman of the Planning Commission is -

• a) The President
• b) The Finance Minister
• c) The Prime Minister
• d) The Minister for planning

Answer: The Prime Minister

Question: The rise in capital formation in the first five year plan was :

• a) 5.8%
• b) 10.%
• c) 6.9%
• d) 9.8 %

Answer: 10.%

Question: Bilateral agreement means whenever a country is involved in trade with other country it makes an agreement with each country :

• a) Collectively
• b) Separately
• c) Both (A) and (B)
• d) None of these

Answer: Separately

Question: Multinational Corporation use the international institutions such as :

• a) IMF
• b) World Bank
• c) WTO
• d) All of these

Answer: All of these

Question: If the price rise to the tune of _____ percent every year, it is considered as good for the country.

• a) 1%
• b) 2%
• c) 3%
• d) 5%

Answer: 3%

Question: During 1999-2000, approximately___ people in India are reported to the poverty ridden.

• a) 22 crore
• b) 24 crore
• c) 25 crore
• d) 26 crore

Answer: 26 crore

Question: The aim of liberalization is to free the large private sector from :

• a) Bureaucratic control
• b) Political control
• c) Social control
• d) Foreign control

Answer: Bureaucratic control

Question: The WTO extends the “Most Favored Nation” treatment to all its members on :

• a) Equality basis
• b) Priority basis
• c) Productivity basis
• d) None of these

Answer: Equality basis

Question: In which year Consumer Protection Act was passed ?

• a) 1966
• b) 1976
• c) 1986
• d) 1996

Answer: 1986

Question: The Indian agency which caters to the standardization of industrial and consumer goods is

• a) Agmark
• b) Bureau of Indian Standards
• c) ISO 9001
• d) Codex Alimentations Commission

Answer: Bureau of Indian Standards

Question: In 1999-2000, the poverty line in rural areas was fixed at -

• a) Rs. 328 per capital per month
• b) Rs. 348 per capital per month
• c) Rs 368 per capital per month
• d) Rs 375 per capital per month

Answer: Rs. 328 per capital per month

Question: Which of the following Fundamental Right prohibits child labour ?

• a) Right to Equality
• b) Right against Exploitation
• c) Right to Freedom
• d) Right of constitutional remedies

Answer: Right against Exploitation

Question: Which Article envisages free and compulsory education upto 14 years ?

• a) Article 45
• b) Article 19
• c) Article 29
• d) Articule 32

Answer: Article 45

Question: Which Article abolishes untrouchability ?

• a) Article 14
• b) Article 19
• c) Article 17
• d) Article 23

Answer: Article 17

Question: Legal Literacy is about

• a) Elementary knowledge of law
• b) Awareness of the country’s political set up
• c) Awareness about constitutional and legal rights
• d) All of the above

Answer: All of the above

Question: According to the recommendation of the Mandal Commission _____ reservation has been done for backward classes in public services.

• a) 27%
• b) 33%
• c) 30%
• d) 25%

Answer: 27%

Question: Which of the following is not a cause of economic inequality in India ?

• a) Free flow of private property
• b) Unemployment and Underemployment
• c) Inflation
• d) Modernization

Answer: Modernization