Nitin Sangwan Economy Notes PDF Download

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Nitin Sangwan Economy Notes PDF

Economy Notes PDF

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Economy Question Answer

1. What percentage of Indian population is dependent on agriculture?

A. 65% of total population

B. 53% of total population

C. 40% of total population

D. 65% of total population

Ans: B

2. Which Indian state uses biggest quantity of fertilizer in India?

A. Punjab

B. Karnataka

C. U.P

D. Maharashtra

Ans: A

3. Black revolution is related to the…….

A. Fish production

B. Coal production

C. Crude oil production

D. Mustard Production

Ans: C

4. What percentage of Indian GDP is contributed by the service sector?

A. 25 % of GDP

B. 60 % of GDP

C. 53% of GDP

D. 49 % of GDP

Ans: B

5. Which of the following sector does not comes under the service sector in India?

A. Real estate

B. Transport

C. Restaurants & hotels

D. Formation of electronic television

Ans: D

GK Quiz on Goods and Services Tax (GST)

6. Which activity is termed as activity of tertiary sector?

A. Wheat production

B. Mobile production

C. Construction of a dam

D. Fishing

Ans: C

7. Which of the following industry is known as sun rising industry?

A. Dairy industry

B. Information Technology

C. Health and clinic

D. None of these

Ans: B

8. What is the current rate of service tax in India currently?

A. 12.5%

B. 13.5%

C. 14%

D. 14.5%

Ans: C

9. How many services (till 2012) are included in the service tax currently in India?

A. 119

B. 110

C. 98

D. 85

Ans: A

10. Since when the service tax is being imposed in India?

A. 1991

B. 1999

C. 1994

D. 2001

Ans: C

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Economics Questions and Answers for Competitive Exams:

1. Who was the first administrator-statesman to attempt planning as a means for economic development?

a) Sir CP Ramaswami Aiyyar
b) M Viswesvarayya
c) VT Krishnamachari
d) C Rajagopalachari

Ans . B

2. An economy is at the take off stage on its path to development when it

a) becomes stagnant
b) begins steady growth
c) is liberalized
d) gets maximum foreign aid

Ans . B

3. Which of the following is the basic characteristic of Oligopoly?

a) a few sellers, one buyer
b) a few sellers, many buyers
c) a few sellers, a few buyers
d) many sellers, a few buyers

Ans . B

4. The aim of which of the Five Year Plans was to correct the disequilibrium in the economy?

a) First Five Year Plan
b) Second Five Year Plan
c) Third Five Year Plan
d) Fourth Five Year Plan

Ans . A

5. Which of the following Five Year Plans recognized human development as the core of all developmental efforts?

a) Eighth Five Year Plan
b) Seventh Five Year Plan
c) Fifth Five Year Plan
d) Third Five Year Plan

Ans . A

6. Which of the following plans aimed at improving the standard of living?

a) Third Plan
b) Fourth Plan
c) Fifth Plan
d) Sixth Plan

Ans . B

7. At which of the following places was the mining of coal started in 1774?

a) Chhindwara
b) Dhanbad
c) Ranchi
d) Raniganj

Ans . D

8. In which of the following years were the cocking coals and non-cocking coal mines in India nationalized?

a) 1971 and 1972 repetitively
b) 1972 and 1973 respectively
c) 1973 and 1974 respectively
d) 1970 and 1972 respectively

Ans . B

9. Which Indian state has the largest number of cotton textile mills?

a) Madhya Pradesh
b) Maharashtra
c) Gujarat
d) West Bengal

Ans . B

10. Minor ports like Kakinada, Machilipatnam, Bheemunipatnam, and Krishnapatnam are in which of the following states?

a) Tamil Nadu
b) Andhra Pradesh
c) Maharashtra
d) Karnataka

Ans . B

Geography PDF Notes

Economy Notes PDF Quiz in Hindi

Q. India holds the third position in production of Sugar cane.

(A) True

(B) False

Ans . B

Q. National Agriculture Insurance Scheme was implemented on

(A) Oct. 1997

(B) Oct. 1998

(C) Oct. 1999

(D) Oct. 2000

Ans . C

Q. Which is not a Kharif Crop?

(A) Jowar

(B) Maize

(C) Groundnut

(D) Wheat

Ans . D

Q. The data of estimation of India’s National income is issued by ?

(A) Planning Commision

(B) National Data Center

(C) Central Statistical Organsation

(D) None of above

Ans . C

Q. The concept of Economic Planning in India is derived from?

(A) USA

(B) UK

(C) Australia

(D) Russia

Ans . D

Q. First five year plan in India was from

(A) 1947 – 1952

(B) 1949 – 1954

(C) 1950 – 1955

(D) 1951 – 1956

Ans . D

Q. First five year plan was based on?

(A) Herold -Domar Model

(B) P.C. Mahalanobis Model

(C) Both of above

(D) None of above

Ans . A

Q. Which five year plan is also known as “Gadgil Yojana” ?

(A) Second Five Year Plan

(B) Third Five Year Plan

(C) Fourth Five Year Plan

(D) Fifth Five Year Plan

Ans . C

Q. Which five year plan focused on “Growth with social justice and equity”.

(A) Ninth Five Year Plan

(B) Eight Five Year Plan

(C) Seventh Five Year Plan

(D) Sixth Five Year Plan

Ans . A

Q. Planning Commission was constituted on?

(A) 15 March, 1948

(B) 15 March, 1949

(C) 15 March, 1950

(D) 15 March, 1951

Ans . C

GK Notes PDF

Selective Questions of Economics

11. When, for the first time, did the Prime Minister of India announce the 20-point Economic Programme?

a) 1973
b) 1974
c) 1975
d) 1976

Ans . C

12. Which of the following plans aimed at the removal of poverty and attainment of self-reliance?
a) second plan
b) third plan
c) fourth plan
d) fifth plan

Ans . D

13. Census in India is being held regularly after every

a) 6 years
b) 8 years
c) 10 years
d) 12 years

Ans . C

14. People belonging to what age group are eligible for training under TRYSEM scheme?

a) 18-35
b) 25-40
c) 18-50
d) 18-25

Ans . A

15. According to the census in 2001, which city in India has the largest population?

a) Kolkatta
b) Mumbai
c) Delhi
d) Chennai

Ans . B

16. In terms of geographical area India occupies what position in the world?

a) Five
b) six
c) seven
d) three

Ans . C

17. India does not share its boundary with which of the following countries?

a) China
b) Taiwan
c) Burma
d) Bhutan

Ans . B

18. Agriculture employs almost what percent of the Indian population?

a) 90
b) 50
c) 40
d) 70

Ans . D

19. Which one of the following is a Kharif crop?

a) bajra
b) wheat
c) mustard
d) barley

Ans . A

20. Which one of the following is a rabi crop?

a) rice
b) jowar
c) cotton
d) peas

Ans . D

English Notes PDF 

Important Questions of Economics

21. Who is known as the ‘Father of White Revolution’?

a) V Kurien
b) MS Swaminathan
c) JP Narayan
d) Baba Amte

Ans . A

22. Who was the chief architect of Green Revolution that significantly improved the agricultural yield in the country?

a) MS Swaminathan
b) VR Krisha Aiyyar
c) V Kurien
d) Jawaharlal Nehru

Ans . A

23. The Chota Nagpur Plateau famous for its mineral deposits is in

a) Uttar Pradesh
b) Jharkhand
c) Madhya Pradesh
d) Bihar

Ans . B

24. The Mumbai Stock Exchange was set up in

a) 1875
b) 1900
c) 1922
d) 1947

Ans . A

25. What does the term NSDL stands for?

a) National Securities Development Limited
b) National Securities Depository Limited
c) National Safety Development Limited
d) Natural Safety Deployment Limited

Ans . B

26. Which one of the following was launched with the objective of helping the poor in rural areas to become self employed?

a) DPAP
b) IRDP
c) TRYSEM
d) DDP

Ans . C

27. In Indian economy, the principal means of transportation is

a) airways
b) railways
c) waterways
d) roadways

Ans . B

28. Which of the following organizations looks after the credit needs of agriculture and rural development in India?

a) FCI
b) IDBI
c) NABARD
d) ICAR

Ans . C

29. Which of the following estimates the National Income in India?

a) Central Statistical Organization
b) National Income Committee
c) Planning commission
d) Reserve Bank of India

Ans . A

30. In India which of the following taxes is levied by the state governments?

a) Excise duty on liquor
b) Capital gains tax
c) Customs tax
d) corporation tax

Ans . A

Polity PDF Notes

Latest Questions of Economics

31. Which industry employs the largest number of women in India?

a) tea
b) textile
c) jute
d) coal

Ans . A

32. Which of the following is not a cash crop?

a) Jute
b) groundnut
c) jowar
d) sugarcane

Ans . C

33. An economy is at the ‘take off’ stage on its path to development when it

a) becomes stagnant
b) begins steady growth
c) is liberalized
d) gets maximum foreign aid

Ans . B

34. Which among the following treaties provided for a common currency for the member countries of European Community?

a) Brussels Treaty
b) Geneva Convention
c) Maastricht Treaty
d) Treaty of Versailles

Ans . C

35. SEBI stands for

a) Science and Engineering Board of India
b) Securities and Exchange Board of India
c) Social Equity Bureau of India
d) Science and Educational Board of India

Ans . B

36. With which of the following lies the basic regulatory authority for mutual funds and stock markets?

a) Reserve bank of India
b) Government of India
c) SEBI
d) Stock Exchanges

Ans . C

37. With which aspect of commerce are ‘Bulls and Bears’ associated?

a) Foreign Trade
b) Stock Exchange market
c) banking
d) international finance

Ans . B

38. Which of the following is the basic characteristic of Oligopoly?

a) a few sellers, one buyer
b) a few sellers, many buyers
c) a few sellers, a few buyers
d) many sellers, few buyers

Ans . B

39. State Financial Corporations give assistance mainly to develop

a) small and medium scale industries
b) agricultural farms
c) cotton industry
d) large scale industries

Ans . A

40. In which of the following fields was the first co-operative movement in India initiated?

a) agricultural credit
b) farming activities
c) consumer co-operation
d) agricultural marketing

Ans . A

Economics GK Questions

41. Which of the following taxes is a progressive tax?

a) income tax
b) custom tax
c) sales tax
d) excise duty

Ans . A

42. In which year was the policy of population planning adopted by the government of India?

a) 1947
b) 1956
c) 1952
d) 1962

Ans . C

43. Which of the following taxes is/are levied by the Union and collected and appropriated by the states?

a) stamp duties
b) passenger and good tax
c) estate duty
d) taxes on newspapers

Ans . A

44. The terms TRIPS and TRIMS are related to

a) NAFTA
b) SAPTA
c) EFTA
d) GATT

Ans . D

45. In which year was the new liberalized industrial policy announced in India?

a) 1989
b) 1990
c) 1991
d) 1992

Ans . C

46. During which Five Year Plan was the annual growth rate of National Income the lowest?

a) second plan
b) third plan
c) fifth plan
d) sixth plan

Ans . B

47. Chelliah Committee of 1992 deals with the overhauling of our

a) public sector undertakings
b) financial system
c) tax system
d) patents and copyrights

Ans . C

48. Economic planning is an essential feature of

a) capitalist economy
b) socialist economy
c) mixed economy
d) dual economy

Ans . B

49. Which among the following is an essential characteristic of mixed economy?

a) co-existence of small scale and large scale industries
b) co-existence of private and public sectors
c) assigning equal importance to both agriculture and heavy industries
d) co-existence of the rich and the poor

Ans . B

50. What is the value of goods and services produced in a country within a year called?

a) National income at factor cost
b) net national output
c) net national product at market prices
d) gross national product at market prices

Ans . D

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