THE ECONOMICS TEST! (try it)

Developed by: Pooja Sanyal

This quiz is for real economics lovers and ones who have a sort of passion for this subject! Well, I'll try not to make it boring but at the same time, FRUITFUL!

Question 1: So starting off! All the best! There are 4 definitions of economics, right? Who gave the scarcity-oriented definition?

	Prof. Lionel Robbins
	Sir Adam Smith
	Sir Alfred Marshall
	some economist in the year 2005!

Question 2: What is the full form of GDCF?

	Gross Domestic Capital Formation
	Gross Domestic Capital Functioning
	Gross Detection of Close Function

Question 3: What is a 'sick unit' in economics?

	a sick unit is one which has lost the faith of the buyers or consumers
	a sick unit is one who, due to monopoly concentration of economic power, is suffering from losses
	a sick unit is a one which has reported cash loss for the last year of its operation and is likely to incur a cash loss for the current and following years
	a sick unit in economics means unit which has often indulged into several unfair business practices
	a sick unit is one in whose hands the health is concentrated

Question 4: What has been the rate of population increase in India during 1999-2000?

	17.4%
	18.2%
	22.1%
	6.6%

Question 5: What is the main cause of increasing death rate in India?

	malnutrition
	famines
	noise pollution

Question 6: Especially in the case of Indian agriculture, a much large number of farmers and agricultural labourers are engaged in production but they are not really needed. Hence, their contribution to the agricultural output remains nil. What is such a situation called?

	seasonal unemployment
	underemployment
	disguised unemployment
	problem of employment

Question 7: What is the difference between growth and development of a country?

	growth is a fixed rise in per capita income and development is when there is rise in per capita income, but it changes from ear to year
	growth is rise in national income and development is the infrastructural improvement of a country
	growth is rise in supply and development is a rise in demand
	growth(quantitative)is a rise in the per capita income and development(qualitative) is a rise in per capita income equal distribution of wealth

Question 8: What are OPEC countries?

	Organisation of Paper Exporting countries
	Organisation of Petroleum Exporting Countries
	Organisation of Plant Exporting Communities

Question 9: What is regional dualism?

	co-existence of two Central Banks
	co-existence of primitive and modern technology
	co-existence of rural and urban economy

Question 10: When there is excess supply and less demand, what does the government do?

	it decreases the bank rates
	it reduces the supply
	it asks the producer to produce less
	it increases the government expenditure

Question 11: Which one of these is not a private sector corporation?

	SAIL
	HPCL
	RELIANCE
	ONGC

Question 12: Which is presently the principal export item of India?

	ores and minerals
	agricultural and allied products
	gems and jewellery
	raw materials
	mineral fuels

Question 13: Which is not an import item of India?

	transport equipments
	gems and jewellery
	chemical fertilisers
	iron and steel

Question 14: Why do we say that 'the intensity of human wants differ'?

	because of the advancing world, people's wants are changing . E.g. choice of people has changed from type writer to computer
	because the want for luxury goods is not so important as the want for the basic needs
	because people's choices differ

Question 15: Which of these is known as one of the economic entities?

	the central bank
	the main sector of the country(agricultural sector in India)
	the resources of a country
	the technical know-hows
	the government

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