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15 Questions - Developed by: Pooja Sanyal - Developed on: - 9.152 taken - User Rating: 3.14 of 5.0 - 37 Votes

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!

  • 1
    So starting off! All the best!
    There are 4 definitions of economics, right? Who gave the scarcity-oriented definition?
    Sir Alfred Marshall
    some economist in the year 2005!
    Sir Adam Smith
    Prof. Lionel Robbins
  • 2
    What is the full form of GDCF?
    Gross Detection of Close Function
    Gross Domestic Capital Functioning
    Gross Domestic Capital Formation
  • 3
    What is a 'sick unit' in economics?
    a sick unit is one in whose hands the health is concentrated
    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 is one which has lost the faith of the buyers or consumers
    a sick unit in economics means unit which has often indulged into several unfair business practices
  • 4
    What has been the rate of population increase in India during 1999-2000?
  • 5
    What is the main cause of increasing death rate in India?
    noise pollution
  • 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
    problem of employment
    disguised unemployment
  • 7
    What is the difference between growth and development of a country?
    growth(quantitative)is a rise in the per capita income and development(qualitative) is a rise in per capita income equal distribution of wealth
    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 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
  • 8
    What are OPEC countries?
    Organisation of Plant Exporting Communities
    Organisation of Petroleum Exporting Countries
    Organisation of Paper Exporting countries
  • 9
    What is regional dualism?
    co-existence of primitive and modern technology
    co-existence of two Central Banks
    co-existence of rural and urban economy
  • 10
    When there is excess supply and less demand, what does the government do?
    it asks the producer to produce less
    it reduces the supply
    it decreases the bank rates
    it increases the government expenditure
  • 11
    Which one of these is not a private sector corporation?
  • 12
    Which is presently the principal export item of India?
    raw materials
    gems and jewellery
    agricultural and allied products
    mineral fuels
    ores and minerals
  • 13
    Which is not an import item of India?
    iron and steel
    gems and jewellery
    chemical fertilisers
    transport equipments
  • 14
    Why do we say that 'the intensity of human wants differ'?
    because people's choices differ
    because the want for luxury goods is not so important as the want for the basic needs
    because of the advancing world, people's wants are changing . E.g. choice of people has changed from type writer to computer
  • 15
    Which of these is known as one of the economic entities?
    the main sector of the country(agricultural sector in India)
    the government
    the technical know-hows
    the resources of a country
    the central bank

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