SSC (CGL, CHSL, MTS) Delhi Police Railway Tier - II Other Exams

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SSC (CGL, CHSL, MTS)

Delhi Police Railway Tier –
II
&
Other Exams
by
Gaurav Kumar
Singh
economics
macro economics (b) Happens when business expands

(c) Happens in economy when they increase
Basic
(d) Happens in firms when they expand their product
Ans. (d) [S.S.C (CGL) Exam, 2015]
1. When there is affect on economic activity of an specific
7. The best Example of capital intensive industry in India
country due to import and export, then such economy
is-
are called-
(a) Textile industry
(a) Closed economy
(b) Steel industry
(b) Open economy
(c) Tourism industry
(c) Agricultural economy (d) Spare goods industry.
(d) Industrial economy Ans. (b) [S.S.C (10+2) Exam, 2011]
Ans. (b) [S.S.C LDC Exam, 2015] 8. The Removal of prohibitions and hindrance by
2. The Worldwide great depression happens in which government is called.
year- (a) Globalisation
(a) 1936 (b) 1929 (b) Privatisation
(c) 1928 (d) 1930 (c) Liberalisation
Ans. (b) [S.S.C Multitasking Exam, 2013] (d) Bilateral understanding.
3. Which among the following is not the investment of Ans. (c) [S.S.C (FCI) Exam, 2012]
goods & services?
9. Which of the following is related to South-South debate?
(a) Cost of machinery
(a) Cooperation between developing countries
(b) Increase in cost of raw goods
(b) Defence Organisation
(c) Increasing deparment of company
(c) Sitting between developed & developing countries
(d) Cost of buying house.
(d) All of the above.
Ans. (c) [S.S.C (CGL) Exam, 2013]
Ans. (a) [S.S.C (CGL) Exam, 2011]
4. Preparing butter and ghee for household consumption
10. In a economy “Development Stage” means-
of own family is a part of –
(a) Starting of steadily increasing economy
(a) Household investment production
(b) Bad economy
(b) Industrial production (c) Economy is on the verge of destroying
(c) Consumption (d) All tariff to be removed.
(d) Own Account Production Ans. (a) [S.S.C (10+2) Exam, 2014]
Ans. (d) [S.S.C (CGL) Exam, 2014] 11. The tree like structure of records in a database in-
5. Multinational firm is– (a) Network Model (b) Hierarchical Model
(a) A company started by foreign governments (c) Relational Model (d) Multi-Dimenmoral Model
(b) A single company established in different countries
Ans. (b) [S.S.C Steno Exam, 2011]
(c) A company in India started by U.S. government
12. According to Kenz, consumption function shows
(d) A company started jointly by India and U.S.
relation between.
Ans. (b) [S.S.C Matric level Exam, 2006, S.S.C 10+2 Exam,
(a) Total Consumption and Total Population
2011]
(b) Total Consumption and Normal Price Rate
6. Internal profit–
(c) Total Consumption and Total Income
(a) Happens when internal trade expands
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(d) Total Consumption and Rate of Interest (c) Member Nations (d) Borrowings
Ans. (c) [S.S.C (CGL) Exam, 2014] Ans. (c) [SSC CGL Exam, 2008]
13. The interest in infrastructure is less because. 20. The term “Micro Economics” and “Macro Economics”
(a) There is large invest in it was coined by–
(b) There needs a desired project (a) Alfred Marshal (b) Ragner Nurkse
(c) Time to finish the infrastructure is more (c) Ragner Frisch (d) J.M. Keynes
(d) Profit is gained after long time. Ans. (c) [SSC CGL Exam, 2010]
Ans. (d) [S.S.C Matric level Exam, 2006] 21. “Micro” and “Macro” words was firstly used by–
14. “World Bank” is also called as – (a) Ragnar Frisch (b) I. Fischer
(a) International Bank for Reconstruction and (c) James Tobin (d) Garle
development Ans. (a) [SSC 10+2 Exam, 2015]
(b) International, rehabilation and development bank 22. Arthashastra by “Kautilya” is related with–
(c) International rehabilated and development bank (a) Military Phase (b) Political Reign
(d) None of these. (c) Social Phase (d) Economic Postulates
Ans. (a) [S.S.C Sect. Off. Exam, 2007] Ans. (b) [SSC CGL Exam, 2015]
15. What will happen if labour productivity is increased? 23. The Social Accounting system in India is classified into–
(a) Balanced cash wage will decrease (a) Assets, Liabilities and Debt Position
(b) Public sector, Private Sector and Joint Sector
(b) Competitive firms will be forced to invest more
(c) Income, Product and Expenditure
(c) Labour demand curve will shift towards right (d) Enterprise, Households and Government
(d) None of the above. Ans. (c) [SSC CGL Exam, 2013]
Ans. (c) [S.S.C (10+2) Exam, 2014] 24. The Production of a commodity mostly through the
natural process is an activity of–
16. Socialism is successful in achieving because of–
(a) Primary Sector (b) Secondary Sector
(a) Excess socialistic approach in society
(c) Tertiary Sector (d) Technology Sector
(b) To increase standard of living
Ans. (a) [SSC 10+2 Exam,2013]
(c) Equal distribution of income
25. Rent is a cost paid for–
(d) None of the above
(a) Land (b) Restaurant
Ans. (a) [SSC CGL Exam, 2012]
(c) Building (d) Factory
17. Which among of the following is not a positive sign for
any industry. Ans. (a) [SSC Multitasking Exam, 2014]
(a) Decrease in profit (b) Labour instability 26. Due to worldwide great depression, ‘New Deal’ was
declared by?
(c) Decrease in market (d) Decrease in demand
(a) Abhraham Lincon (b) Benzamin Frankllin
(c) J.F. Kennedy (d) Roozwelt
18. IMF was established to meet which of the following
objectives. Ans. (d) [SSC 10+2 Exam, 2015]
(i) Promoting International Monetary Cooperation 27. The Relationship between rate of interest and
consumption level was firstly estimated by–
(ii) Expending International Trade
(a) Amartya Sen (b) Milton Freedman
(iii) Lessening the inequlibrium in trade
(c) Irwing Fischer (d) James Duezan Berry
(iv) Avoiding competitive exchange depreciations.
Ans. (b) [SSC 10+2 Exam,2014]
(a) i,ii,iii (b) i, iii, iv
28. The Surplus earned by a factor other thus land in the
(c) ii, iv (d) i, ii, iii, iv
short period is referred as –
Ans. (b) [SSC CGL Exam, 2005]
(a) Economic Rent (b) Net Rent
19. The capital of IMF is made up by the contribution of–
(c) Quasi-Rent (d) Super-Normal Rent
(a) Credit (b) Deficit Financing
Ans. (c) [SSC CPO Exam, 2009]
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29. Labour Intensive Technique would get chosen in a– wage and the reservation wage
(a) Labour Surplus Economy (d) Economic rent is the amount one must pay to enter a
(b) Capital Surplus Economy desirable labour market
(c) Developed Economy Ans. (c) [SSC (10+2) Nov. Exam, 2014]
(d) Developing Economy 37. Who defined ‘Rent’ as that portion or produce of the
Earth, which is paid to the landlord for the use of
Ans. (a) [SSC CPO Exam, 2009] original and indestructible power of the soil?
30. Amartya Sen was awarded the Noble Prize for his (a) Ricardo (b) Marshall
contribution to–
(c) Keynes (d) Pigou
(a) Monetary Economics
Ans. (a) [SSC (10+2) Nov. Exam, 2014]
(b) Welfare Economics
38. The word ‘Oikonomia’ means–
(c) Econometrics
(a) Household Management
(d) Development Economics (b) Individual Management
Ans. (b) [SSC CPO Exam, 2006] (c) Political Management
31. The Views of eminent economist Robert Malthus on (d) Fiscal Management
Population is– Ans. (a) [SSC CGL Aug Exam, 2014]
(a) Pessimistic (b) Optimistic 39. Economics is a–
(c) Both (a) and (b) (d) None of the above (a) Computer Science (b) Physical Science
Ans. (a) [SSC CPO Exam, 2009] (c) Social Science (d) Natural Science
32. Which among the following is not true about the work Ans. (c) [SSC MTS Exam, 2013]
of Human Resource and Development (HRD)– 40. The supply of labour in the economy depends on–
(a) Caste – System (b) Youth and Sport (a) Population (b) National Income
(c) Education (d) Child Development (c) Per Capita Income (d) Natural Resources
Ans. (a) [SSC Steno Exam, 2012] Ans. (a) [SSC Constable (GD) Exam, 2012]
33. According to whom second chamber is unnecessary & 41. Wage Fund Theory was propounded by–
bad?
(a) JB Say (b) JS Mill
(a) Monkahour (b) Bentham
(c) JR Hicks (d) JM Keynes
(c) Seale (d) Loosky
Ans. (b) [SSC Constable (GD) Exam, 2012]
42. The main feature of a capitalist economy is–
34. Who among the following promotes social justice?
(a) AdMinistered Prices (b) Public Ownership
(a) Herald Laski (b) John Keynes
(c) Economic Planning (d) Private Ownership
(c) John Rowles (d) All of the above
Ans. (d) [SSC Constable (GD) Exam, 2012]
Ans. (c) [SSC Multitasking Exam, 2014]
43. Exploitation of labour is said to exist when–
35. With which form of economy is the term ‘Laissez-Faire’
associated? (a) Wage = Marginal Revenue Product
(a) Capitalist Economy (b) Wage < Marginal Revenue Product
(b) Socialist Economy (c) Wage > Marginal Revenue Product
(c) Mixed Economy (d) Marginal Revenue Product = 0
(d) Command Economy Ans. (b) [SSC Stenographer Exam, 2011]
Ans. (a) [SSC Tax Asst. Exam, 2007] 44. Consumption function expresses the relationship
between consumption and–
36. Which of the following statements is correct?
(a) Savings (b) Income
(a) Most workers will work for less than their reservation
wage (c) Investment (d) Price
(b) The reservation wage is the maximum amount of any Ans. (b) [SSC (10+2) Exam, 2011]
firm will pay for a worker 45. Price theory is also known as–
(c) Economic rent is the difference between the market (a) Macro Economics (b) Development Economics
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(c) Public Economics (d) Micro Economics Ans. (a) [SSC MTS Exam, 2006]
Ans. (d) [SSC CGL Exam, 2010] 54. The Capital formation in an economy depends on–
46. Who defined investment as “The construction of a new (a) Total Income (b) Total Demand
capital asset like machinery or factory building”? (c) Total Savings (d) Total Production
(a) Hansen (b) JM Keynes Ans. (c) [SSC SO Exam, 2006]
(c) Harrod (d) JR Hicks 55. Which of the following does not determine supply of
Ans. (b) [SSC Investigator Exam, 2010] labour?
47. “Economics is what it ought to be” This statement (a) Size and age-structure of population
refers to–
(b) Nature of work
(a) Normative Economics
(b) Positive Economics (c) Marginal productivity of labour
(c) Monetary Economics (d) Work-leisure ratio

(d) Fiscal Economics Ans. (c) [SSC SO Exam, 2006]
Ans. (a) [SSC CGL Exam, 2010] 56. Equilibrium is a condition that can–
48. Labour Intensive Technique would get choosen in a– (a) never change
(a) Labour Surplus Economy (b) change only if some outside factor changes
(b) Capital Surplus Economy (c) change only if some internal factor changes
(c) Developed Economy (d) change only if government policies change
(d) Developing Economy Ans. (c) [SSC SO Exam, 2003]
Ans. (a) [SSC CPO Exam, 2009] 57. Which of the following concepts are most closely
associated with JM Keynes?
49. “Interest is a reward for parting with liquidity” is
according to– (a) Control of money supply
(a) Keynes (b) Marshall (b) Marginal utility theory
(c) Haberler (d) Ohlin (c) Indifference curve analysis
Ans. (a) [SSC Tax Asst. Exam, 2008] (d) Marginal efficiency of capital
50. Who said, “Economics is the Science of Wealth”? Ans. (d) [SSC SO Exam, 2003]
(a) Robbins (b) JS Mill 58. An economy is in equilibrium when–
(c) Adam Smith (d) Keynes (a) Planned consumption exceeds planned saving
Ans. (c) [SSC MTS Exam, 2008] (b) Planning consumption exceeds planned investment
51. Who among the following is not a classical economist? (c) Aggregate demand to aggregate supply
(a) David Ricardo (b) John Stuart Mill (d) Intended investment exceeds intended savings
(c) Thomas Malthus (d) John Maynard Keynes Ans. (c)
Ans. (d) [SSC Tax Asst. Exam, 2008] 59. In equilibrium, a perfectly competitive firm will equate–
52. "The national income consists of a collection of goods (a) Marginal social cost with marginal social benefit
and services reduced to common basis by being (b) Market supply with market demand
measured in terms of money" who says this?
(c) Marginal profit with marginal cost
(a) Samuelson (b) Kuznets
(d) Marginal revenue with marginal cost
(c) Hicks (d) Pigou
Ans. (d) [SSC CPO Exam, 2003]
Ans. (c) [SSC CGL Exam, 2007]
60. The difference between the price the consumer is
53. Core industries are– prepared to pay for a commodity and the price which
(a) Basic Industries he actually pays is Called–
(b) Consumer Goods Industries (a) Consumer’s Surplus (b) Producer’s Surplus
(c) Capital Goods Industries (c) Landlord’s Surplus (d) Worker’s Surplus
(d) Government Industries Ans. (a) [SSC MTS Exam, 2002]

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61. Who is called the 'Father of Economics'? (a) Barriers to entry are not very large
(a) JM Keynes (b) Malthus
(c) Ricardo (d) Adam Smith
Ans. (d) [SSC MTS Exam, 2001]
62. In the long-run equilibrium a competitive firm earns.
(a) Super-normal profit (b) Profits equal to other firms
(c) Normal profit (d) No profit
Ans. (c) [SSC MTS Exam, 2000]
63. According to the Classical System, saving is a function
of–
(a) Income (b) the interest rate
(c) the real wage (d) the price level
Ans. (a) [SSC MTS Exam, 2000]
64. The labour which creates value and gets rewarded for
its services is called–
(a) Both Skilled and Unskilled Labour
(b) Average Labour
(c) Productive Labour
(d) Unproductive Labour
Ans. (c) [SSC CGL April Exam, 2014]
65. Which of the following is not an economic problem?
(a) Deciding between paid work and leisure
(b) Deciding between expenditure on one good and the
other
(c) Deciding between alternative methods of personal
saving
(d) Deciding between different ways of spending leisure
time
Ans. (d) [SSC (10+2) Nov. Exam, 2014]
66. The basic infrastructure facilities in economics are
known as–
(a) Human Capital
(b) Physical Capital
(c) Social Overheads Capital
(d) Working Capital
Ans. (c) [SSC SO Exam, 2003]
67. What are the main components of basic social
infrastructure of an economy?
(a) Education, Industry and Agriculture
(b) Education, Health and Civil Amenities
(c) Transport, Health and Banks
(d) Industry, Trade and Transport
Ans. (b) [SSC SO Exam, 2003]
68. If an industry is characterised by economics of scale
then–

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(b) Long-run unit costs of productions decreases as the
quantity the firm produces increases
(c) Capital requirement are small due to the efficiency
of the large scale operation
(d) The costs of entry into the market are likely to be
substantial
69. Disguised unemployment means–
(a) Willing to work and not getting the work
(b) Not getting work on all days throughout the year
(c) Insufficiency of capital structure to absorb the large
labour force
(d) More people working, than required
Ans. (d) [SSC Stenographer Sep. Exam, 2014]
70. The famous economist Thomas Robert Malthus, in his
views regarding population, is–
(a) Optimistic
(b) Partly optimistic and partly pessimistic
(c) Pessimistic
Ans. (c) [SSC CGL Aug. Exam, 2014]
71. Economic problem arises because of–
(a) Scarcity of means (b) Multiplicity of resources
(c) Scarcity of wants (d) Over Population
72. The Price mechanism is a feature of–
(a) Capitalist Economy
(b) Barter Economy
(c) Mixed Economy
(d) Socialist Economy
Ans. (a) [SSC FCI Exam, 2012]
73. Human development index was development by–
(a) Amartya Sen (b) Friedman
(c) Mahbub-ul-Haq (d) Montek Singh
Ans. (c) [SSC Stenographer Exam, 2011]
74. Globalisation means–
(a) Integration of economy
(b) Integration of financial market
(c) Integration of the domestic economy with the world
economy
(d) Integration of the various sectors of economy
Ans. (c) [SSC (10+2) Exam, 2011]
75. Disinvestment in public sector is called–
(a) Liberalisation (b) Globalisation

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(c) Industrialisation (d) Privatisation 83. The concept of mixed economy means–
Ans. (d) [SSC Stenographer Exam, 2011] (a) To have balanced development in the agricultural and
industrial sector
76. ‘Hire and Fire’ is the policy of–
(b) Simultaneous development of the rural and urban sector
(a) Capitalism (b) Socialism
(c) To have equal distribution of wealth among the rural
(c) Mixed economy (d) Traditional economy and the urban poor
Ans. (a) [SSC MTS Exam, 2011] (d) Simultaneous existence of the private and public
sector
77. The Economic development depends on–
Ans. (d) [SSC Matric Level Exam, 2002]
(a) Natural resources (b) Capital formation
84. In which sector of the Indian economy is productivity
(c) Size of the market (d) All of these
the highest?
Ans. (d) [SSC (10+2) Exam, 2011] (a) Manufacturing
78. Which one of the following categories of workers is (b) Transport, Communication and Commerce
termed as cultivators? (c) Agriculture
(a) Those who own land and cultivate (d) Other sectors
(b) Those who lease in land and cultivate Ans. (a) [SSC Matric Level Exam, 2001]
(c) Those who cultivate the land of others 85. Which of the following is a part of tertiary sector ?
(d) Those who own land and lease in from others or (a) Power and Transportation
institutions and cultivate (b) Animal Husbandry
Ans. (c) [SSC Stenographer Exam, 2010] (c) Cotton Manufacturing
79. India is called a mixed economy because of the existence (d) Cultivation of Crops.
of– Ans. (a) [SSC Matric Level Exam, 2010]
1. Public Sector 2. Private Sector national income
3. Joint Sector 4. Cooperative Sector
Codes
1. Forced saving refers to-
(a) 1 and 2 (b) 1 and 3
(c) 3 and 4 (d) 2 and 4 (a) Compulsory deposits imposed on income tax payers
Ans. (b) [SSC Tax Asst. Exam, 2009] (b) Provident fund contribution of private sector employees
80. In an economy, the sectors are classified into public and (c) Reduction of consumption consequent to a rise in
private on the basis of– price
(a) Employment conditions (d) Taxes on individual income and wealth
(b) Nature of economic activities Ans. (c) [S.S.C (CGL)-2013]
(c) Ownership of enterprises 2. The Expenditure on advertisement and public relation
(d) Use of raw materials by an enterprise is a part of its-
Ans. (c) [SSC DEO Exam, 2009] (a) Consumption of fined capital
81. A mixed economy works primarily through the– (b) Final consumption Expenditure
(a) Market mechanism (c) Intermediate Consumption
(b) Central allocative machinery (d) Fined Capital
(c) Market mechanism regulated by government policy
Ans. (c) [S.S.C (CGL) Exam, 2013]
(d) Market mechanism guided by government
participation and planning 3. If a country produces consumer goods only and nothing
else, then-
Ans. (d) [SSC SO Exam, 2006]
(a) Standard of living will be highest
82. A closed economy is one which–
(b) The country have certain amount of good
(a) Does not trade with other countries
(b) Does not possess any means of international transport (c) The country will soon become poor if external trade
will not happen
(c) Does not have a coastal line
(d) Is not a member of the UNO (d) The country will gradually become rich if external
trade will not happen
Ans. (a) [SSC CPO Exam, 2006]

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Ans. (c) [S.S.C Matric level Exam, 2006] Ans. (a) [SSC DEO Exam, 2009]
4. Which of the following represents the saving of the 12. National Income include–
Private Corporate Sector? (a) Financial help to earthquake victims
(a) Undistributed profits (b) Poket money of a child
(b) Excess of income over expenditure (c) Winning of a lottery Prize
(c) Dividends paid to shareholders (d) Construction of a new House
(d) Total profit of a company Ans. (d) [SSC 10+2 Exam,2010]
Ans. (a) [S.S.C (CGL) Exam, 2013] 13. Other name of Net National Product at market price?
5. The Income of Indians working abroad is- (a) National Income (b) Gross Domestic Production
(a) Domestic Income of India (c) Personal Income (d) Per Capital Income
(b) Income earned from abroad Ans. (a) [SSC 10+2 Exam,2012]
(c) Net domestic product of India 14. Compared to rich the poors saving is–
(d) Grave domestic product of India. (a) A larger part of their income
Ans. (b) [S.S.C 10+2 Exam,2013] (b) An equal part of their income
6. When increase in income the increase in ratio between (c) A small part of their income
income & expenditure changes–
(d) All of their incomes
(a) In same ratio
(b) Ratio less than 1
15. One of the main factors that led to rapid expansion of
(c) Ratio more than one Indian exports is–
(d) None (a) Imposition of export duty
Ans. (b) [S.S.C CGL Exam, 2015] (b) Liberalization of the economy
7. GDP is what percent of Fiscal deficit? (c) Recession in other countries
(a) 7 (b) 4 (d) Diversification of exports
(c) 8 (d) 1 Ans. (b) [SSC CPO Exam, 2007]
Ans. (b) [S.S.C Multitasking Exam, 2013] 16. A ‘Transfer Income’ is as –

(a) Income which is not produced by as production
8. The Census of Indian agriculture is done by–
process.
(a) Production Method (b) Income Method (b) Income taken away from one person given over to
(c) Expenditure Method (d) Consumption Method another.
Ans. (a) [SSC CGL Exam, 2006] (c) Unearned Income
(d) Earned Income
9. The First Income Committee was established in–
Ans. (a) [SSC 10+2 Exam,2009]
(a) 1948 (b) 1949
17. Personal Income produced in a country is not included in–
(c) 1950 (d) 1951
(a) Production income from NDP
Ans. (b) [SSC Metric level Exam, 2008]
(b) Net Production Income from foreign.
10. The Central Statistical Organisation (CSO) provides
data under a new revised series in which the base year (c) Transfer Income from government
is taken as– (d) Current Payment on Foreign loans.
(a) 1960-61 (b) 1970-71 Ans. (d) [SSC CPO Exam, 2009]
(c) 2011-12 (d) 1990-91 18. The Effect of ‘Investment Multiplier’ is shows on–
Ans. (c) [SSC Multitasking Exam, 2013] (a) Employment (b) Savings
11. Depreciation is equal to– (c) Income (d) Consumption
(a) GNP – NNP Ans. (c) [SSC CGL Exam, 2013]
(b) NNP – GNP 19. A rising per Capita Income will indicate a better
(c) GNP – Personal Income welfare if it is accompanied by –
(d) Personal Income – Personal Taxes (a) Unchanged Income distribution overall.

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(b) Changed Income distribution in favour of rich. Ans. (d) [SSC (10+2) Exam, 2012]
(c) Changed Income distribution in favour of poor. 27. Per Capita Income is equal to–
(d) Changed Income distribution in favour of Industrial (a) National Income
Labour. Total population of the country
Ans. (c) [SSC 10+2 Exam,2010] (b) National Income + Population
20. GDP at factor cost equals– (c) National Income - Population
(a) GDP – Indirect Tax + Subsidy (d) National Income x Population
(b) GNP – depreciation Ans. (a) [SSC FCI Exam, 2012]
(c) NNP + depreciation 28. Which one of the following is the most appropriate
reason for inequalities in income?
(d) GDP – subsidy + indirect tax.
(a) Racial factors
Ans. (a) [SSC Tax Asst. Exam, 2008]
(b) Lack of opportunities
21. A ‘Transfer Income’ is an–
(c) Inheritance from family environment
(a) Income which is not produced by any production
process (d) Differences in ability
(b) Income taken away from one person and given over to Ans. (b) [SSC (10+2) Exam, 2012]
another 29. Which of the following is deducted from NNP to arrive
(c) Unearned income at NI?
(d) Earned income (a) Indirect tax
Ans. (a) [SSC DEO, (10+2) Exam, 2012] (b) Capital consumption allowance
22. Income and consumption are– (c) Subsidy
(a) Inversely Related (b) Directly Related (d) Interest
(c) Partially Related (d) Unrelated Ans. (a) [SSC (10+2) Exam, 2011]
Ans. (b) [SSC (10+2) Exam, 2011] 30. Which one of the following is not included while
estimating National Income through income method?
23. Which of the following would not constitute an
economic activity in Economics? (a) Rent (b) Mixed Income
(a) A teacher teaching students in his college (c) Pension (d) Undistributed Profits
(b) A teacher teaching students in a coaching institute Ans. (d) [SSC (10+2) Exam, 2011]
(c) A teacher teaching his own daughter at home
31. While computing National Income estimates, which of
(d) A teacher teaching students under Sarva Shiksha the following is required to be observed?
Abhiyan Scheme
(a) The value of exports to be added and the value of
Ans. (c) [SSC (10+2) Exam, 2011] imports to be subtracted
24. Which one of the following is not a method of (b) The value of exports to be subtracted and the value of
measurement of National Income? imports to be added
(a) Value Added Method(b) Income Method (c) The value of both exports and imports to be added
(c) Investment Method (d) Expenditure Method (d) Thevalue of both exports and imports to be subtracted
Ans. (c) [SSC CPO Exam, 2010] Ans. (a) [SSC (10+2) Exam, 2011]
25. Gross Profit means– 32. Who estimated the National Income for the first time in
(a) Total investment over total savings India?
(b) Changes in methods of production (a) Mahalanobis (b) Dadabhai Naoroji
(c) Changes in the form of business organisation (c) VKRV Rao (d) Sardar Patel
(d) Total receipts over total expenditure. Ans. (b) [SSC MTS Exam, 2011]
Ans. (d) [SSC MTS Exam, 2002] 33. National Income is generated from–
26. National Income is also called as– (a) any money-making activity
(a) GNP at factor cost (b) GNP at market price (b) any labourious activity
(c) any profit-making activity
(c) NNP at factor cost (d) NNP at market price

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(d) any productive activity (c) winning of a lottery prize
Ans. (d) [SSC MTS Exam, 2011] (d) construction of a new house
Ans. (d) [SSC (10+2) Exam, 2010]
34. Which of the following is deducted from GNP to arrive
at NNP? 41. Depreciation is equal to–
(a) Depreciation (b) Interest (a) Gross National Product — Net National Product
(c) Tax (d) Subsidy (b) Net National Product — Gross National Product
Ans. (a) [SSC (10+2) Exam, 2011] (c) Gross National Product — Personal Income
35. The total value of goods and services produced in a (d) Personal Income — Personal Taxes
country during a given period is–
Ans. (a) [SSC (10+2) Exam, 2009]
(a) Disposable Income
42. Net National Product (NNP) of a country is–
(b) National Income
(a) GDP minus Depreciation allowances
(c) Per Capita Income
(b) GDP plus Net Income from abroad
(d) Net National Income
(c) GNP minus Net Income from abroad
Ans. (b) [SSC CPO Exam, 2011]
(d) GNP minus Depreciation allowances
36. An individual’s actual standard of living can be assessed
by–
(a) Gross National Income 43. Personal Disposable income is–
(b) Net National Income (a) Always equal to Personal Income
(c) Per Capita Income (b) Always more than Personal Income
(d) Disposable Personal Income (c) Equal to Personal Income minus Indirect Taxes
Ans. (c) [SSC CGL Exam, 2011] (d) Equal to Personal Income minus Direct Taxes
37. A rising Per Capita Income will indicate a better Ans. (d) [SSC CGL Exam, 2008]
welfare, if it is accompanied by–
44. Which of the following is not included in the National
(a) unchanged income distribution overall
Income?
(b) changed income distribution in favour of rich
(a) Imputed rent of owner-occupied houses
(c) changed income distribution in favour of poor
(d) changed income distribution in favour of industrial (b) Government expenditure on making new bridges
labour (c) Winning a lottery
Ans. (c) [SSC Stenographer Exam, 2011] (d) Commission paid to an agent for sale of house
38. Which one of the following is not method of estimating Ans. (c) [SSC CGL Exam, 2008]
Nations Income?
45. GDP at factor cost is–
(a) Expenditure method
(a) GDP minus Indirect Taxes plus Subsidies
(b) Product method
(b) GDP minus Depreciation allowances
(c) Matrix method
(c) NNP plus Depreciation allowances
(d) Income method
(d) GDP minus Subsidies plus Indirect Taxes
39. National Income Estimates in India are prepared by–
46. Which of the statements is correct about India’s
(a) National Development Council National Income?
(b) National Productivity Council (a) Percentage share of agriculture is higher than services
(c) National Income Committee (b) Percentage share of industry is higher than agriculture
(d) Central Statistical Organisation (c) Percentage share of services is higher than industry
Ans. (d) [SSC Stenographer Exam, 2010, CGL Exam, 2007, (d) Percentage share of services is higher than agriculture
Investigator Exam, 2006] and industry put together
40. National Income include– Ans. (d) [SSC CPO Exam, 2007]
(a) financial help to earthquake victims 47. The term ‘Green GNP’ emphasises–
(b) pocket money of a child (a) Rapid growth of GNP

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(b) Increase in Per Capita Income Ans. (d) [SSC Tax Asst. Exam, 2004]
(c) Economic Development 54. National Income refers to–
(d) Sustainable Development (a) Money value of goods and services produced in a
country during a year
Ans. (d) [SSC Tax Asst. Exam, 2006]
(b) Money value of stocks and shares of a country during
48. Who among the following Indian economists has done a year
pioneering work on National Income? (c) Money value of capital goods produced by a country
(a) Jagdish Bhagwati (b) ML Seth during a year
(c) Amartya Sen (d) VKRV Rao (d) Money value of consumer goods produced by a
country during a year
Ans. (d) [SSC (10 +2) Exam, 2006]
49. In calculating National Income, which of the following
is included? 55. The National Income of a country is–
(a) Services of housewives (a) Government annual revenue
(b) Pensions (b) Total productive income
(c) Income of smugglers (c) Surplus of the public sector enterprise
(d) Income of watchmen (d) Export and Import
Ans. (d) [SSC Tax Asst. Exam, 2005, (10+2) Exam, 2000] Ans. (b) [SSC SO Exam, 2003]
50. Which of the following is not required while computing 56. The method of calculating the National Income by the
Gross National Product (GNP)? product method is otherwise known as–
(a) Net foreign investment (a) Income method (b) Value added method
(b) Private investment (c) Expenditure method (d) Net output method
(c) Per Capita Income of citizens Ans. (d) [SSC SO Exam, 2003]
(d) Purchase of goods by government 57. National Income at factor cost is equal to–
Ans. (c) [SSC SO Exam, 2005] (a) Net National Product - Indirect Taxes + Subsidies
51. Which of the following results by dividing National (b) Net National Product - Direct Taxes + Subsidies
Income by size of population? (c) Gross National Product - Depreciation Charges
(a) Per Capita Income (d) Net National Product + Net Income from Abroad
(b) Subsistence level Ans. (a) [SSC (10+2) Exam, 2002]
(c) Subsistence expenditure 58. While estimating National Income which of the
(d) Per capita production following is not taken into account?
Ans. (a) [SSC SO Exam, 2005] (a) Services of a teacher
52. What does National Income mean? (b) Services of a doctor
(a) The total value of all goods and services produced in (c) Services of a housewife
the country during a period of 1 year (d) Services of a maid servant
(b) The total value of all stocks and shares in the country
during a period of 1 year Ans. (c) [SSC (10+2) Exam, 2002]
(c) The total value of all capital goods produced in the 59. Gross National Product is the money measure of–
country during a period of 1 year (a) All tangible goods produced in a country
(d) The total value of all consumer goods produced in the (b) Final goods and services produced in the economy
country during a period of 1 year
(c) Services generated annually in the economy
Ans. (a) [SSC SO Exam, 2005]
(d) All tangible goods available in the economy
53. The difference between the GNP and the NNP is equal
to the– Ans. (b) [SSC (10+2) Exam, 2002]
(a) Consumer expenditure on durable goods 60. Gross National Product means–
(b) Direct tax revenue (a) Gross value of finished goods
(c) Indirect tax revenue (b) Money values of the total national production for any
given period
(d) Capital depreciation
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(c) Gross value of raw materials (c) A process of inviting subscriptions to a public offer of
(d) Money value of inputs and outputs securities, essentially through a tendering process
(d) Publishers activity
Ans. (b) [SSC (10+2) Exam, 2002]
61. Aggregate net value of the output in 1 year is the–
68. An increase in per capita income is not an indication of
(a) National Income at factor cost
an increase in the economic welfare of the people–
(b) Gross Domestic Product at market prices (a) When such increase is the result of an increased
(c) Net National Product at market prices production of comforts
(d) Gross National Product at market prices (b) When such increase is the result of an increase in
Ans. (c) [SSC (10+2) Exam, 2002] agricultural production
62. Net National Product in National Income accounting (c) When it is the result of an increase in the production
refers to– of industrial goods
(a) Gross Domestic Product— Depreciation (d) When such increase is the result of increased
production of intoxicants
(b) Gross Domestic Product + Subsidies
(c) Gross Natic a Product—Depreciation
69. ‘Golden Handshake Scheme’ is associated with–
(d) Gross National Product + Subsidies
(a) Inviting foreign companies
Ans. (c) [SSC (10 +2) Exam, 2002]
(b) Private investment in public enterprises
63. A very high rise in National Income at current market
prices and a low rise at constant prices reveals– (c) Establishing joint enterprises
(a) The high rate of growth in the economy at the current (d) Voluntary retirement
period Ans. (d) [SSC SO Exam, 2006]
(b) The increased production in the current period 70. Fish catch by indian fishermen in the international
(c) The improper growth of the economy waters are part of the GDP of–
(d) The high rate of inflation prevailing in the economy
(a) Sri Lanka (b) India and Sri Lanka
Ans. (d) [SSC (10+2) Exam, 2002]
(c) India (d) India and Indonesia
64. National Income accounting is the study of the income
and expenditure of the entire– Ans. (c) [SSC (10+2) Exam, 2011]
(a) Family (b) State 71. The best example of a capital intensive industry in India
is–
(c) Economy (d) Organisation
(a) Textile industry (b) Steel industry
Ans. (c) [SSC (10+2) Exam, 2001]
(c) Tourism industry (d) Sports goods industry
65. GNP differs from NNP due to–
Ans. (b) [SSC (10+2) Exam, 2011]
(a) Net indirect taxes
(b) Direct taxes 72. The best index of economic development is provided
by–
(c) Interest on public debt
(d) Depreciation (a) Growth in per capita real income from year to year
Ans. (d) [SSC Stenographer Sep. Exam, 2014] (b) Growth in national income at current prices
66. Which of the following is not viewed as national debt? (c) Growth in savings ratio
(a) Life Insurance Policies
(d) Improvement in the balance of payments position
(b) Long-term Government Bonds
Ans. (a) [SSC (10+2) Exam, 2010]
(c) National Savings Certificates
73. India’s biggest nationalised enterprise today is–
(d) Provident Fund
(a) The Indian Railways
(b) The Indian Commercial Banking System
67. What is ‘book-building’?
(c) The Indian Power Sector
(a) Preparing the income and expenditure ledgers of a
company (book-keeping) (d) The Indian Telecommunication System
(b) Manipulating the profit and loss statements of a Ans. (a) [SSC SO Exam, 2007]
company
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74. Which of the following is a better measurement of 81. The standard of living in a country is represented by
economic development? its–
(a) GDP (b) Disposable Income (a) Poverty ratio (b) Per capita income
(c) NNP (d) Per Capita Income (c) National income (d) Unemployment rate
Ans. (d) [SSC SO Exam, 2007] Ans. (b) [SSC CGL Exam, 2002]
75. Which organisation collects data for the unorganised 82. In a highly developed country the relative contribution
sector? of agriculture to GDP is–
(a) NSSO (b) CSO (a) Relative high
(c) ASI (d) RBI (b) Relatively low
Ans. (a) [SSC CPO Exam, 2006] (c) Same as that of other sectors
76. Economic growth is dependent mainly on– (d) Zero
(a) Level of consumption Ans. (b) [SSC Matric Level Exam, 2001]
(b) Price stability tax
(c) Level of investment
(d) Population growth
1. Which among of the following is direct tax?
Ans. (c) [SSC Matric Level Exam, 2006]
(a) Sales Tax (b) Excise Tax
77. What is the main function of Central Statistical Office
(c) Wealth Tax (d) Entertainment Tax
(CSO)?
Ans. (c) [S.S.C Multitasking Exam, 2013]
(a) Determination of money supply
2. Which among of the following is largest source of
(b) Collection of estimates of national income
income for central govt.?
(c) Collection of detail data regarding employment
(a) Direct Taxes (b) Custom Duty
(d) Price determination
(c) Excise Duty (d) Entertainment Tax
Ans. (a) [S.S.C Matric level Exam, 2008]
78. Which of the following is not true when the interest rate
3. Which among of the following is not direct tax?
in the economy goes up?
(a) Income Tax (b) Property Tax
(a) Savings increases
(c) Gift Tax (d) Sales Tax
(b) Lending decreases
Ans. (d) [S.S.C Stenographer Exam, 2005]
(c) Cost of production increases 4. The Example of Sales tax is-
(d) Return on capital increases (a) Coorporate Tax (b) Direct Tax
Ans. (d) [SSC CGL Exam, 2004] (c) Indirect Tax (d) Welfare Tax
79. To achieve high rates of growth of national output, the Ans. (c) [S.S.C (FCI) Exam, 2012]
economy has to–
5. Which of the following tax is imposed by state govt.?
(a) reduce the rate of growth of population
(a) Entertainment Tax (b) Property Tax
(b) borrow foreign capital
(c) Income Tax (d) Corporate Tax
(c) step up the rate of savings
Ans. (a) [S.S.C Matric level Exam, 2006]
(d) increase the rate of investment and reduce the capital
6. Taxes are called as Regressive when-
output ratio
(a) None of these
(b) It causes same burden on rich and poor
80. The self-employed in a developing country who are
engaged in small scale labour intensive work belong to (c) Less burden on poor as compared to rich
the– (d) More burden on poor as compared to rich
(a) Informal Sector (b) Primary Sector Ans. (c) [S.S.C (CPO) Exam, 2015]
(c) Secondary Sector (d) Tertiary Sector 7. In case of direct tax, impact of tax & incidence of tax is–
Ans. (b) [SSC Matric Level Exam, 2002] (a) On two different person

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(b) On same person (c) After every two year
(c) Any other person (d) After every five year
(d) On that department which called tax. Ans. (d) [SSC Tax Asst. Exam,2008]
Ans. (b) [S.S.C (CGL) Exam, 2014] 16. Which of the statements is correct about India’s
8. Who was the Chairman of tenth Finance Commission? National Income?
(a) Manmohan Singh (b) Vasant Sathe (a) Percentage share of agriculture is higher than services.
(c) Shiv Shankar (d) K.C. Pant (b) Percentage share of industry is higher than agriculture.
Ans. (d) [SSC CGL Exam, 2013] (c) Percentage share of services is higher than industry.
9. Who was the Chairman of 13th Finance Commission? (d) Percentage share of services is higher than agriculture
(a) Dr. Vijay L Kelkar (b) Dr. C Rangrajan and industry put together.
(c) Dr. A.M. Khusro (d) Dr. C. Subbarao Ans. (d) [SSC CPO Exam, 2007]
Ans. (a) [SSC Steno Exam, 2011, 14] 17. In Centre – State financial relation in India, Gadgil
10. For becoming chairman of finance commission which formula is used in–
one is necessary? (a) Division of tax revenue
(a) He should be from Finance and Banking sector (b) Formulation of the policy for fresh borrowings
(b) He should be high level economist
(c) Writing off state’s indebtedness to the centre
(c) He should be specialist of Jurisdiction matters
(d) Allocating Central Plan assistance between States
(d) In case of public matters, he should be a man of
perfection Ans. (a) [SSC 10+2 Exam,2011]
Ans. (d) [SSC 10+2 Exam,2010] 18. Which authority decides about the states’ share in
central taxes?
11. Which among of the following is not a ‘canon of
taxation’ according to Adam Smith? (a) Finance Commission
(a) Canon of certainty (b) Planning Commission
(b) Canon of simplicity (c) Election Commission
(c) Canon of convenience (d) Finance Ministry
(d) Canon of economy inefficiency Ans. (a) [SSC SO Exam, 2006]
Ans. (b) [SSC 10+2 Exam,2010] 19. The practice of selling goods in a foreign country at a
price below their domestic selling price is called–
12. VAT was firstly implemented in–
(a) ‘Diplomacy’ (b) ‘Discrimination’
(a) Germany (b) Spain
(c) ‘Dumping’ (d) ‘Double pricing’
(c) France (d) Russia
Ans. (c) [SSC 10+2 Exam,2012]
20. Indirect taxes by nature are–
13. CENVAT is related with–
(a) Degressive (b) Regressive
(a) Service Tax (b) Wealth Tax
(c) Progressive (d) Proportional
(c) Excise duty (d) Selling Tax
Ans. (b) [SSC Stenographer Exam, 2011]
Ans. (c) [SSC 10+2 Exam,2015]
21. Taxation is a tool of–
14. ‘Value - added’ is equal to–
(a) Monetary Policy (b) Fiscal Policy
(a) Output Minus the Inputs
(c) Price Policy (d) Wage Policy
(b) Reconstruction profit
Ans. (b) [SSC (10+2) Exam, 2011]
(c) Gross profit
22. The Fringe Benefit Tax was introduced in the budget
(d) Investment profit of–
Ans. (a) [SSC 10+2 Exam,2013] (a) 2003-04 (b) 2004-05
15. Finance Commission is organised. (c) 2005-06 (d) 2006-07
(a) Every year. Ans. (c) [SSC CGL Exam, 2011]
(b) After every four year
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23. The government set-up a committee headed by the (c) Lump sum Tax (d) Regressive Tax
Chairman. Central Board of Direct Taxes sometime Ans. (b) [SSC SO Exam, 2006]
back to go into–
30. Which of the following sets belong to Central tax?
(a) Codification of tax laws
(a) Excise Duty, Sales Tax and Customs Duty
(b) The entire structure of tax laws including the question (b) Excise Duty, Customs Duty and Income Tax.
of imposition of bank tax
(c) Income Tax, Customs Duty and House Tax
(c) The concerns of the foreign investors in India with
(d) Customs Duty, Entertainment tax and Income Tax
regards to taxation matters
Ans. (b) [SSC Tax Asst. Exam, 2005]
(d) Aspects of generation of black money, its transfer
abroad and bringing back such money into India’s 31. Which of the following taxes is not shared between the
Legitimate Financial System. union and the states?
Ans. (d) [SSC CPO Exam, 2011] (a) Income Tax (b) Excise Duty
(c) Corporation Tax (d) Sales Tax
24. Which of the following taxes are levied and collected by
the centre but their net proceeds are wholly transferred Ans. (d) [SSC SO Exam, 2005]
to states? 32. Which of the following taxes is levied by the Union and
(a) Expenditure Tax and Gift Tax appropriated and planned by the states?
(b) Additional duties of excise in lieu of sales tax (a) Service Tax
(c) Stamps and Registration (b) Stamp Duty
(d) Taxes on Advertisement (c) Property Tax
Ans. (d) [SSC SAS 2010] (d) Passenger and Freight Duty
25. Which of the following is not the source of the revenue Ans. (b) [SSC SO Exam, 2005]
of Central Government? 33. Interest on public debt is part of–
(a) Income Tax (a) Transfer payments by the enterprises
(b) Corporate Tax (b) Transfer payments by the government
(c) Agricultural Income Tax (c) National income
(d) Excise Duty (d) Interest payments by households
Ans. (c) [SSC DEO Exam, 2008] Ans. (b) [SSC SO Exam, 2005, CGL Exam, 2000]
26. The Report of Vijay Kelkar Committee relates to– 34. Which of the following taxes is such which does not
(a) Trade reforms cause rise in price?
(b) Centre-state financial relations (a) Import Duty (b) Income Tax
(c) Disinvestment in public sector enterprises (c) Octoroi (d) Sales Tax
(d) Tax reforms Ans. (b) [SSC SO Exam, 2005]
Ans. (d) [SSC CPO Exam, 2008] 35. Who among the following has suggested tax on
27. Which of the following taxes is not collected by the expenditure?
Central Government? (a) Dalton (b) Kaldor
(a) Income Tax (b) Customs Duty (c) Musgrave (d) Gautam Mathur
(c) Professional Tax (d) Excise Duty
Ans. (c) [SSC Tax Asst. Exam, 2007]
36. Which amidst the following taxes collected by the Union
28. Excise duty on a commodity is payable with reference to is not mandated to be assigned to the states?
its– (a) Terminal taxes on goods or passengers carried by
(a) Production railway, sea or air.
(b) Production and Sale (b) Taxes on railway fares and freights
(c) Production and Transportation (c) Taxes on consignment of goods
(d) Production, Transportation and Sale (d) Service Tax
Ans. (a) [SSC SO Exam, 2007] Ans. (d) [SSC CGL Exam, 2004]
29. If the tax rate increases with the higher level of income, 37. The main source of revenue for a State Government in
it shall be called– India is–
(a) Proportional Tax (b) Progressive Tax (a) Sales Tax (b) Excise Duty
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(c) Income Tax (d) Property Tax (c) Excise Duties (d) Sales Tax
Ans. (a) [SSC CPO Exam, 2003] Ans. (d) [SSC Matric Level Exam, 2002]
45. Parallel economy emerges due to–
38. The proceeds of Income tax go to– (a) Tax Avoidance (b) Tax Evasion
(a) Central Government (c) Tax Compliance (d) Tax Estimation
(b) State Government Ans. (b) [SSC Matric Level Exam, 2002]
(c) Centre and States 46. The tax levied on gross sales revenue from business
(d) Corporation Authorities transactions is called–
Ans. (c) [SSC CPO Exam, 2003] (a) Turnover Tax (b) Sales Tax
39. How does the consumer benefit with VAT? (c) Capital Gains Tax (d) Corporation Tax
(a) It removes tax on tax and thus reduces price rise Ans. (a) [SSC Matric Level Exam, 2002]
(b) Reduces the cost of production 47. A tax is characterised by horizontal equity if its liability
is–
(c) With the abolition of the sales tax
(a) Proportional to the income of tax payers
(d) Due to the exemption of small businesses from the tax
within certain limits prescribed by the state (b) Similar for tax payers in similar circumstances
Ans. (a) [SSC CPO Exam, 2003] (c) Proportional to the expenditure of tax payers
40. The receipts of which of the following taxes/duties are (d) The same for every tax payer
not shared with the states? Ans. (a) [SSC SO Exam, 2001]
(a) Tax on income except agriculture 48. Which authority recommends the principles governing
(b) Corporation tax the grants in aid of the revenues of the states out of the
(c) Surcharge on Income tax Consolidated Fund of India?
(d) Capital gain tax (a) Public Accounts Committee
Ans. (a) [SSC SO Exam, 2003] (b) Union Ministry of Finance
41. Corporation tax is a tax imposed on– (c) Finance Commission
(a) The net incomes of the companies (d) Inter-State Council
(b) The corporate properties Ans. (c) [SSC SO Exam, 2001]
(c) The utilities provided by the corporation
49. Buoyancy of a tax is defined as–
(d) Tax imposed by the corporation on individual
properties (a) Percentage increase in tax revenue/percentage
increase in tax base
Ans. (a) [SSC Matric Level Exam, 2002]
(b) Increase in tax revenue/percentage increase in tax
42. The duties levied on alcoholic liquors, narcotic drugs coverage
and opium come under–
(c) Increase in tax revenue/increase in tax base
(a) Central Excise Duty (b) Land Revenue
(d) Percentage increase in tax revenue/increase in tax
(c) State Excise Duty (d) General Sales Tax coverage
Ans. (a) [SSC Matric Level Exam, 2002] Ans. (c) [SSC SO Exam, 2001]
43. State which amongst the following is not true about 50. Which one of the following is not an Example of
VAT? Indirect tax?
(a) All states have uniform VAT for the same product (a) Sales Tax (b) Excise Duty
(b) State have discretion to fix the rate of tax within the (c) Customs Duty (d) Expenditure Tax
four rates prescribed
Ans. (d) [SSC CGL Exam, 2000]
(c) It will promote production efficiency of investments
51. ‘Quota’ is–
(d) It will make our exports more competitive
(a) Tax levied on imports
Ans. [SSC SO Exam, 2003]
(b) Imports of capital goods
44. The most important source of revenue for the states in
India is– (c) Limit on the quantity of imports
(a) Corporation Tax (b) Income Tax (d) Limit on the quantity of exports

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Ans. (c) [SSC Matric Level Exam, 2000] Ans. (d) [S.S.C 10+2 Exam,2015]
52. Taxation is a tool of– 2. Which of the following is not considered as National
(a) Monetary Policy (b) Fiscal Policy Debt?
(c) Price Policy (d) Wage Policy (a) National saving Certificate
Ans. (b) [SSC Matric Level Exam, 2000] (b) Long-term Government Bond
53. Which is the biggest tax paying sector in India? (c) Insurance Policies
(a) Agriculture sector (b) Industrial sector (d) Provident Fund
(c) Transport sector (d) Banking sector Ans. (c) [SSC CGL Exam, 2008]
Ans. (b) [SSC CGL Exam, 2010] 3. Which among of the following is open Bank for small
industries.
54. Value of output and value added can be distinguished if
we know– (a) IDBI (b) SIDBI
(a) The value of intermediate consumption (c) IFCI (d) NABARD
(b) The value of net indirect taxes Ans. (b) [SSC Metric level Exam, 2006]
(c) The value of the sales 4. IDBI was established on–
(d) The value of consumption of fixed capital (a) July, 1964 (b) July, 1966
Ans. (a) [SSC (10+2) Exam, 2010] (c) July, 1962 (d) July, 1968
55. What is Value Added Tax (VAT) ? Ans. (a) [SSC 10+2 Exam,2015]
(a) A simple, transparent, easy to pay tax imposed on 5. Under the rules of the IMF, each member is required to
consumers declare the par value of its legal tender money in terms
of US Dollars and –
(b) A new initiative taken by the government to increase
the tax-burden of high income groups (a) Silver (b) Gold
(c) A single tax that replaces state taxes like, surcharge, (c) Pound, sterling (d) Diamond
turnover tax etc Ans. (c) [SSC CPO Exam, 2007]
(d) A new tax to be imposed on the producers of capital 6. Which among of the following bank was earlier known
goods as ‘Imperial Bank of India’?
Ans. (c) [SSC Tax Asst. Exam, 2006] (a) RBI (b) SBI
56. The incidence of tax refers to,– (c) UBI (d) PNB
(a) Who pays the tax ? Ans. (b) [SSC CGL Exam, 2006]
(b) Who bears the burden of tax? 7. SBI was earlier known as –
(c) How taxes can be shifted ? (a) Cooperative Bank of India
(d) Who transfers the tax burden? (b) Imperial Bank of India
Ans. (b) [SSC MTS Exam, 2002] (c) Syndicate Bank
57. Ad Valorem tax is levied– (d) Canara Bank
(a) According to value added by the government. Ans. (b) [SSC CGL Exam, 2015]
(b) According to value addition to a commodity 8. The Interest on saving deposits in all nationalized banks
(c) According to value given by producers of India is determined by–
(d) According to value added by the Finance ministry (a) Finance Minister
Ans. (c) [SSC MTS Exam, 2002] (b) Finance Commission

(c) Indian Cooperative Bank
Bank
(d) Reserve Bank of India
1. By which law it has been said that with continue
9. The total Number of nationalized bank in India.
increase in income, expenses on food product decreases-
(a) 14 (b) 21
(a) Gresham’s Law (b) Griffin Law
(c) 20 (d) 22
(c) Say's Law (d) Angel Law

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Ans. (b) [SSC CGL Exam, 2014] public
10. Which among the following is public sector
undertaking?
(a) HSBC Bank (b) Syndicate Bank
(c) South Indian Bank (d) Bank of Punjab
Ans. (b) SSC Metric level Exam, 2006
11. When were Fourteen India Banks nationalized in?
(a) 1967 (b) 1968
(c) 1969 (d) 1971
Ans. (c) [SSC 10+2 Exam, 2014]
12. ‘NABARD’ Stands for–
(a) National Bank for Agricultural Refinance &
Development
(b) National Board of Agricultural Research &
Development
(c) National Academy of Banking and Agricultural
Research and Development
(d) Nation Bank for Agriculture and Rural Development.
13. ‘NABARD’ is related to development of –
(a) Agriculture and Rural Areas
(b) Heavy Industries
(c) Banking Sector
14. Which of the following is not a industrial finance
institution?
(a) UTI (b) ICICI
(c) NABARD (d) SFC
Ans. (c) [SSC Metric Level Exam, 2002]
15. Whose signature is done on one rupee note?
(a) Finance Secretary
(b) Governor of RBI
(c) Finance Minister
(d) None of these
16. Decimal Money System was started in?
(a) 1955 (b) 1956
(c) 1957 (d) 1958
Ans. (c) [SSC 10+2 Exam,2014]
17. Bank rate is the rate of interest–
(a) At which public borrow money from commercial Banks
(b) At which public borrows money from RBI
(c) At which commercial Banks borrow money from RBI
(d) At which commercial Banks borrows money from the
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18. Minimum to Maximum reserved deposits in RBI by
Commercial Banks in called–
(a) Cash Deposits (b) Deposit Reserve
(c) Excess Reserve (d) None of the above
19. Which one of the following is not a quantitative credit
control measure of a Central Bank?
(a) Bank Rate Policy (b) Open Market Operations
(c) Cash reserve Ratio (d) Moral Suasion (Pressure)
Ans. (d) [SSC 10+2 Exam,2011]
20. Remedy Finance is done by–
(a) National Development Council
(b) NABARD
(c) SBI
(d) RBI
Ans. (d) [SSC 10+2 Exam, 2015]
21. Which among the following is Known as “Hot Money”?
(a) FII (b) FDI
(c) ADR (d) GDR
22. Cash Reserve Ratio and open Market Operation are
the tools of–
(a) Monetary Policy (b) Budget Policy
(c) Trade Policy (d) Fiscal policy
Ans. (a) [SSC 10+2 Exam, 2013]
23. Which among of the following are related to banking
reform.
(a) L.C. Gupta Committee
(b) Narasimhan Committee
(c) Chakravarti Committee
(d) Kelkar Committee
24. In E-banking, ‘E’ Stands for–
(a) Economics Banking (b) Environment Banking
(c) Electronic Banking (d) Expand Banking
25. Which of the following is a measure to check money
supply in market?
(a) Free Market Policy
(b) CRR
(c) Bank Rate
(d) Change in marginal necessities

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26. RBI does not transact the business of which state 33. ICI is related with–
government? (a) Multinational company for manufacture of chemicals
(a) Nagaland (b) Jammu and Kashmir (b) Indian Cannot Industry.
(c) Punjab (d) Assam (c) Chamber of Commerce and Industry
Ans. (b) [SSC Tax Asst. Exam, 2007] (d) Private Sector Bank
27. Who was appointed as governor of RBI After Dr. Y.V. Ans. (a) [SSC CPO Exam, 2008]
Reddy?
34. Open – Market operation indicates–
(a) Dr. Indra Rangrajan (b) Dr. Dilip Sanghai
(a) Loan taken by scheduled banks from RBI
(c) Dr. Vijay L. Kelkar (d) Shri D. Subbarao
(b) Loan for industry and trade from RBI by scheduled
Ans. (d) [SSC Tax Asst Exam, 2009] banks
28. Which among the following is correct about money (c) Selling and buying of government bonds and
supply in India? securities by RBI
(a) Money Possessed by public is not exchangeable (d) Total revenue of government
(b) Amount of money deposit in banks is greater than Ans. (c) [SSC 10+2 Exam,2010]
public holds
35. When money supply increases the LM curve?
(c) Amount of money possessed by public is more than
(a) Remains parallel to x – axis
bank deposits
(b) Shift towards left
(d) Amount of money possessed by public is equal to
(c) Shift towards right
bank deposits
(d) Remains constant
Ans. (c) [SSC 10+2 Exam,2013]
29. ‘Hard Currency’ is–
36. Monetary Policy is maintained by–
(a) A currency which is paid for loan
(a) Central Government
(b) A currency which is paid for gold
(b) RBI
(c) A currency which is easy to access (c) Industrial Finance Corporation
(d) A currency not easy to access (d) IDBI
Ans. (d) [SSC Multitasking Exam, 2011] Ans. (b) [SSC CGL Exam, 2010]
30. The Financial Year of RBI is from – 37. The Largest Commercial Bank of India is –
(a) April to March (a) Central Bank of India
(b) July to June (b) SBI
(c) January to December (c) Indian Overseas Bank
(d) August to July (d) Bank of India
Ans. (b) [SSC Multitasking Exam, 2011] Ans. (b) [SSC 10+2 Exam,2011]
31. A Schedule Bank in one which is included in the – 38. The Maximum branches of Indian Bank is in–
(a) II Schedule of Banking Regulation Act. (a) Bangladesh (b) Sri Lanka
(b) II Schedule of Constitution (c) UK (d) USA
(c) II Schedule of RBI act Ans. (c) [SSC 10+2 Exam,2003]
(d) None of the above 39. Which among the following is true?
Ans. (c) [SSC CGL Exam, 2014] (a) Money is a good servant
32. Which among of the following is not a government (b) Money is a good servant but bad master
organization?
(c) Money is a good master but bad servant
(a) National Residence Bank
(d) Money is a good master and servant too
(b) SIDBI
Ans. (b) [SSC FCI Exam, 2012]
(c) ICICI
40. Which among of the following is a Example of optional
(d) NABARD money?
Ans. (c) [SSC Steno Exam, 2014] (a) Currency Notes (b) Coins
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(c) Cheques (d) Bonds 48. Money supply is governed by the–
Ans. (c) [SSC 10+2 Exam,2010] (a) Planning Commission
41. Which among of the following statement is correct? (b) Finance Commission
(a) Good money drives bad money out of circulation. (c) Reserve Bank of India
(b) Bad money drives out good money from circulation (d) Commercial Banks
(c) Good and bad money Cannot circulate together. Ans. (c) [SSC MTS Exam, 2011]
(d) Can’t say 49. “Bad money will drive out good money from
Ans. (b) [SSC CPO Exam, 2008] circulation.” This is known as–
42. A part of National Debt known as External Dept is the (a) Engle’ Law (b) Gresham’s Law
amount. (c) Say Law (d) Wagner’s Law
(a) Borrowed by its citizen from abroad Ans. (b) [SSC MTS Exam, 2006]
(b) Lent by into citizens to foreign governments 50. The demand for money, according to Keynes is for–
(c) Borrowed by its government from abroad (a) Speculative Motive
(d) Lent by its government to foreign government (b) Transaction Motive
Ans. (c) [SSC 10+2 Exam,2013] (c) Precautionary Motive
43. Green Banking means- (d) All of the above
(a) Development of forestry by banks. Ans. (c) [SSC MTS Exam, 2001]
(b) Financing of environment friendly projects by banks 51. The rate of interest is determined by–
(c) Financing of irrigation projects by banks
(a) The rate of return on the capital invested
(b) Central Government
(c) Liquidity Preference
44. A currency having a falling exchange rate due to
continuing balance of payments deficit is called a– (d) Commercial Banks
(a) Soft Currency (b) Hard Currency Ans. (d) [SSC CGL Exam, 2011]
(c) Scarce Currency (d) Surplus Currency 52. Cheap money means–
Ans. (a) [SSC Matric Level Exam, 2002] (a) low rates of interest
45. What is referred to as ‘Depository Services’? (b) low level of saving
(a) A new scheme of fixed deposits (c) low level of income
(b) A method for regulating stock exchanges (d) low level of standard of living
(c) An agency for safe keeping of securities. Ans. (a) [SSC CPO Exam, 2007]
(d) An advisory service to investors 53. ‘Gold Bullion Standard’ refers to–
Ans. (c) [SSC Tax Asst. Exam, 2006] (a) gold coin as an unlimited legal tender
46. Liquidity preference means– (b) gold as the measure of value
(a) Showing preference to hold bonds and securities (c) free coinage of gold
(b) Refraining from consumption (d) no restriction on import and export of gold
(c) Desire of the public to hold cash Ans. (b) [SSC CGL Aug. Exam, 2014]
(d) Showing preference to hold capital assets 54. Reserve Bank of India was nationalised in–
Ans. (c) [SSC CGL April Exam, 2014] (a) 1948 (b) 1947
47. Increase in cash reserve ratio leads to– (c) 1949 (d) 1950
(a) increase in bank credit Ans. (c) [SSC FCI Exam, 2012]
(b) decrease in bank credit 55. Monetary Policy in India is formulated by–
(c) constant bank credit (a) Finance Ministry (b) RBI
(d) excess bank credit (c) SEBI (d) CLB
Ans. (b) [SSC CGL July Exam, 2014] Ans. (b) [SSC DEO, (10+2) Exam, 2012]
Follos us:www.clickqualify.com (19) General Studies

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56. Which one of the following is not a quantitative credit 64. The bank cheques are processed by using of–
control measure of a Central Bank? (a) OCR (b) MICR
(a) Bank Rate Policy (b) Open Market Operations (c) OMR (d) PMR
(c) Cash Reserve Ratio (d) Moral Suasion Ans. (b) [SSC SAS Exam, 2011]
Ans. (d) [SSC (10+2) Exam, 2011] 65. The RBI issues currency notes under the–
57. The reserve held by commercial banks over and above (a) Fixed Fiduciary System
the statutory minimum, with the RBI are called–
(b) Maximum Fiduciary System
(a) Cash Reserves (b) Deposit Reserves
(c) Fixed Minimum Reserve System
(c) Excess Reserves (d) Momentary Reserves
(d) Proportional Reserve System
Ans. (c) [SSC DEO Exam, 2009. CGL Exam, 2004]
58. Which one of the following is an Example of optional
money? 66. The present Indian Monetary System is based on–
(a) Currency Note (b) Coins (a) Gold Reserve System
(c) Cheque (d) Bond (b) Proportional Reserve System
Ans. (c) [SSC Stenographer Exam, 2011] (c) Convertible Currency System
59. Who is authorised to issue coins in India? (d) Minimum Reserve System
(a) Reserve Bank of India Ans. (d) [SSC Tax Asst. Exam, 2009]
(b) Ministry of Finance 67. The relationship between the value of money and the
price level in an economy is–
(c) State Bank of India
(a) Direct (b) Inverse
(d) Indian Overseas Bank
(c) Proportional (d) Stable
Ans. (b) [SSC DEO Exam, 2009]
60. Which one of the following is not a function of the
Central Bank in an economy? 68. Which from the following is not true when the interest
rate in the economy goes up?
(a) Dealing with foreign exchange
(a) Saving increases
(b) Controlling Monetary Policy (b) Lending decreases
(c) Controlling government spending (c) Cost of production increases
(d) Acting as a banker’s bank (d) Return on capital increases
Ans. (c) [SSC CPO Exam, 2011] Ans. (d) [SSC CPO Exam, 2009]
61. Insurance sector in India is regulated by– 69. ‘Jeevan Aastha’ — a scheme relating to investment and
(a) MRBI (b) CII saving, was launched during 2008-09, by–
(c) IRDA (d) SEBI (a) Tata AIG (b) ICICI Prudential
Ans. (c) [SSC Investigator Exam, 2010] (c) Bajaj Allianz (d) LIC
62. The existence of a parallel economy or black money– Ans. (d) [SSC Tax Asst. Exam, 2009]
(a) Makes the economy more competitive 70. Which of the following has the sole right of issuing
currency (except one rupee coins and notes) in India?
(b) Makes the monetary policies less effective
(a) The Government of India
(c) Ensures a better distribution of income and wealth
(b) The Planning Commission
(d) Ensures increasing productive investment
(c) The State Bank of India
Ans. (b) [SSC SAS Exam, 2010]
(d) The Reserve Bank of India
63. Consequent upon the recommendations of the working
group on rural banks, 5 Rural Regional Banks were Ans. (d) [SSC SO Exam, 2007, 2005]
initially set-up in the year– 71. The Narasimham Committee (1991) on financial
(a) 1973 (b) 1974 reforms proposed for establishment of a–
(c) 1975 (d) 1976 (a) Four Tier hierarchy of the banking structure
Ans. (c) [SSC CPO Exam, 2010] (b) Three Tier hierarchy of the banking structure

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(c) Two Tier hierarchy of the banking structure (a) Account Payee Deposits
(d) Unified control by the apex institutions (b) Fixed Deposits
72. Which of the following Indian banks became the first to
touch a market capitalisation of `100000 crore in India?
(a) ICICI (b) HDFC
(c) SBI (d) PNB
73. Long-term funds in the capital market can be raised
either by borrowing from certain institutions or
through–
(a) Issue of note
(b) Taking loan from government
(c) Issue of securities
(d) Taking loan from foreign institutions
74. The permission given to a bank customer to draw
cheques in excess of his current account balance is
called–
(a) A personal loan
(b) An ordinary loan
(c) Discounting a bill of exchange
(d) An overdraft
75. Foreign currency which has a tendency of quick
migration is called–
(a) Scarce Currency (b) Soft Currency
(c) Gold Currency (d) Hot Currency
76. Purchasing power parity theory is related with–
(a) Interest Rate (b) Bank Rate
(c) Wage Rate (d) Exchange Rate
77. What does ECS in banking transactions stand for?
(a) Excess Credit Supervisor
(b) Extra Cash Status
(c) Exchange Clearing Standard
(d) Electronic Clearing Service
78. The ‘Interest Rate Policy’ is a component of–
(a) Fiscal Policy (b) Monetary Policy
(c) Trade Policy (d) Direct control
79. Bank deposits that can be withdrawn without notice are
called–

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(c) Variable Deposits
(d) Demand Deposits
80. Regional Rural Banks are sponsored by–
(a) Nationalised Commercial Bank
(b) Reserve Bank of India
(c) State Bank of India
(d) Government of India
81. The Imperial Bank of India, after its nationalisation
came to be known as–
(a) Reserve Bank of India
(b) State Bank of India
(c) United Bank of India
(d) Indian Overseas Bank
Ans. (b) [SSC MTS Exam, 2006]
82. Interest paid by the government on the loans raised is
called–
(a) Debt Servicing
(b) Deficit Financing
(c) Discounted Budgeting
(d) Bridge Loan
83. If the Central Bank wants to encourage an increase in
the supply of money and decrease in the cost of
borrowing money, it should–
(a) Lower Cash Reserve Ratio
(b) Raise Discount Rates
(c) Sell Government Securities
(d) All of the above
84. In India, one-rupee coins, notes and subsidiary coins
are issued by–
(a) The Reserve Bank of India
(b) The Central Government
(c) The State Bank of India
(d) The Unit Trust of India
Ans. (b) [SSC SO 2006]
85. What is the name of the electronic communication
network of the Reserve Bank of India ?
(a) BOLT (b) RBISAT
(c) RBINET (d) RBIDOT
Ans. (c) [SSC Investigator Exam, 2006]
86. Which of the following is Apex bank for industrial
loans?
(a) RBI (b) NABARD
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(c) ICICI (d) IDBI (b) Cash Reserve Ratio
Ans. (d) [SSC SO Exam, 2005] (c) Statutory Liquidity Ratio
87. The basic regulatory authority for mutual funds and (d) Minimum Reserve Ratio
stock markets lies with the– Ans. (b) [SSC Tax Asst. Exam, 2004]
(a) Government of India
95. The best way, a bank can avoid loss is to–
(b) Reserve Bank of India
(a) Lend only to individuals known to the bank
(c) SEBI
(b) Accept sound collateral
(d) Stock Exchange
(c) Give only short-term loans
(d) Lend only to bank’s old customers
88. ‘Dear Money’ means–
(a) Low rate of interest (b) High rate of interest
96. Which of the following Mahatma Gandhi seires of
(c) Depression (d) Inflation currency notes Issued by the RBI has a drawing of the
Ans. (b) [SSC Investigator Exam, 2005] ‘Parliament House’ depicted on it–
89. A Commercial Bank law creates credit only if it has– (a) `500 (b) `100
(a) Cash in the vault (c) `50 (d) `0
(b) Excess reserves Ans. (c) [SSC CGL Exam, 2003]
(c) Permission of Reserve Bank of India 97. Which of the following Mahatma Gandhi series of
currency notes issued by the RBI has ‘Ecology’ depicted
(d) Cooperation of other banks
on it?
(a) `500 (b) `100
90. The rate of interest is determined by–
(c) `50 (d) `5
(a) The rate of return on the capital invested
(b) Central Government
(c) Liquidity preference 98. The Government of India made it obligatory on the
part of all commercial banks that they should give some
(d) Commercial banks
cash amount while purchasing government bonds. What
Ans. (c) [SSC CGL Exam, 2005] would you call this?
91. ‘Legal Tender Money’ refers to– (a) Statutory Liquidity Ratio
(a) Cheques (b) Drafts (b) Cash Reserve Ratio
(c) Bill of Exchange (d) Currency Notes (c) Minimum Reserve Ratio
Ans. (d) [SSC Investigator Exam, 2005] (d) Floating Reserve Ratio
92. What is known as the open market operation of the Ans. (a) [SSC SO Exam, 2003]
RBI?
99. The main source of long-term credit for a business unit
(a) Buying and selling of stocks is–
(b) Auctioning of foreign exchange (a) sale of stocks and bonds to the public
(c) Trading in securities
(b) borrowing from banks
(d) Transactions in gold
(c) loans from the government
Ans. (c) [SSC MTS Exam, 2005, Tax Asst. Exam, 2004, SO
Exam, 2003] (d) deposits from the public and financial institutions
93. Under the minimum Reserve System, the Reserve Bank Ans. (a) [SSC SO Exam, 2003]
of India as the sole authority of note issue is required to 100. A Scheduled Bank is one which is included in the–
maintain assets worth not less than–
(a) II Schedule of Banking Regulation Act
(a) `115 crores (b) `85 crores
(c) `200 crores (d) `210 crores (b) II Schedule of Constitution
Ans. (c) [SSC CGL Exam, 2004] (c) II Schedule of Reserve Bank of India Act
94. The ratio of a bank’s cash holdings to its total deposit (d) None of the above
liabilities is called the–
(a) Variable Reserve Ratio

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101. Which of the following is not an objective of the (c) IDBI Bank (d) Canara Bank
Monetary Policy of the RBI? Ans. (c) [SSC CGL Exam, 2002]
(a) Boost economic development
108. The symbol of Reserve Bank of India is–
(b) Direct credit in desirable direction
(a) Capital of Asokan Pillar
(c) Control inflationary pressure
(d) Ensure social justice (b) Kuber with a purse of money
Ans. (d) [SSC SO Exam, 2003] (c) Ttiger before a palm tree
102. Merchant Banking is an Institution which provides (d) A dog sitting in a defensive state
finances– Ans. (c) [SSC CGL Exam, 2002]
(a) Domestic whole sale trade 109. Funds which flow into a country to take advantage of
(b) International trade among countries atavourable rates of interest in that country is called–
(c) Domestic retail trade among (a) Cold Money (b) Black Money
(d) International aid agencies
(c) Hot Money (d) White Money
103. A seller or buyer protects his business or holdings from
110. Speculative demand for cash is determined by–
changing prices and takes action against it. It is known
as– (a) The rate of interest
(a) Defense (b) Betting (b) The level of income
(c) Inter-trading (d) Mortgage (c) The general price level
Ans. (a) [SSC SO Exam, 2003] (d) The market conditions
104. Which among the following subjects is not an aim of the Ans. (a) [SSC MTS Exam, 2002]
Monetary Policy of the Reserve Bank of India?
111. Legal tender money is–
(a) Giving impetus to economic development
(a) Accepted only by government
(b) Direct credit with objective criteria
(b) Accepted by people and government as per the law
(c) To control pressure of inflation
(c) Not accepted for business purposes by law
(d) To ensure social justice
(d) Not accepted by government
105. What is ‘Narrow Money’?
112. The Reserve Bank of India–
(a) The sum of currency in circulation and the demand
deposits in banks (a) Provides direct finance to agriculture
(b) The sum of Ml money and the time deposits (b) Provides finance to primary cooperative societies
(c) The sum of currency in circulation with the public and (c) Provides finance to state cooperative banks
the cash reserves held by banks (d) Does not provide finance to agriculture
(d) The market value of the stocks held by all the holders Ans. (d) [SSC MTS Exam, 2001]
excluding the promoters 113. Commercial Banking System in India is–
Ans. (a) [SSC SO Exam, 2003] (a) Mixed Banking (b) Unit Banking
106. Ways and means advances refers to– (c) Branch Banking (d) None of the above
(a) Industries getting temporary loans from commercial Ans. (c) [SSC MTS Exam, 2001]
banks
(b) Farmers getting loans from NABARD Planning
(c) Government getting temporary loans from RBI
(d) Government getting loans from international financial 1. Without insurance or uncertainity problem is –
institutions (a) Fire
Ans. (c) [SSC MTS Exam, 2002] (b) Flood
107. Which amidst the following banks was recently (c) Change in price of product
converted to a ‘Universal Bank’?
(d) Change in fashion.
(a) Corporation Bank (b) Bank of Baroda
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2. Verghese Kurien is related to – Ans. (b) [SSC Steno Exam, 2011]
(a) Blue Revolution (b) White Revolution
(c) Yellow Revolution (d) Green Revolution
Ans. (b) [S.S.C Steno Exam, 2014]
3. Blue revolution is related to –
(a) Fish production
(b) Milk production
(c) Oilseed production
(d) Fertilizer production.
Ans. (a) [S.S.C Steno Exam, 2005]
4. Blue and White Revolution is related with –
(a) Fish and Fertilizer (b) Milk
(c) Fish and Milk (d) Fish and Agriculture.
Ans. (c) [S.S.C Steno Exam, 2014]
5. Brown Revolution is called as –
(a) Fodder revolution
(b) Increase in sea products
(c) Increase in fertilizer production
(d) Increase in milk production.
Ans. (c) [S.S.C (CPO) Exam, 2011]
6. Golden Revolution is related with –
(a) Rearing of lagoons (b) Agriculture of flowers
(c) Beekeeping (d) Grapes production
Ans. (b) [S.S.C (CPO) Exam, 2011]
7. India adopted...........................................to give
socialistic
shape to country.
(a) Socialism (b) Mixed Economy
(c) Capitalism (d) Political Economy
8. The Economic planning is a part of–
(a) Mixed Economy (b) Dual Economy
(c) Socialistic Economy (d) Capitalistic Economy
Ans. (c) [SSC CGL Exam, 2012]]
9. Which among the following is not a positive sign for any
industry.
(a) Decrease in profit (b) Labour instability
(c) Decrease in market (d) Decrease in demand
10. Which three year is said as “Planning Holiday” for our
country?
(a) 1965-68 (b) 1966-69
(c) 1968-71 (d) 1969-72

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11. “Plan Holiday” was declared after–
(a) First Five Year Plan (b) Second Five Year Plan
(c) Third Five Year Plan (d) Fourth Five Year Plan
12. Which is not correct–
(a) First Five Year Plan 1951-56
(b) Second Five Year Plan 1956-61
(c) Third Five Year Plan 1961-66
(d) Fourth Five Year Plan 1966-71
13. Poverty alleviation was the aim of which Five Year Plan.
(a) Fourth (b) Fifth
(c) Sixth (d) Seventh
14. The Slogan “Poverty Alleviation” was added to which
Five Year Plan.
(a) First (b) Second
(c) Fifth (d) Fourth
Ans. (c) [SSC 10+2 Exam, 2015
15. The Duration of 12th Five year Plan is–
(a) 2010-2015 (b) 2011-2016
(c) 2012-2017 (d) 2013-2018
16. Which five year plan’s duration was only four year?
(a) Third (b) Fourth
(c) Fifth (d) Seventh
Ans. (c) [SSC Multitasking Exam, 2014
17. Which Five Year Plan was based upon Mahalanobis
Model?
(a) First (b) Second
(c) Third (d) Fourth
Ans. (b) [SSC Matriculation level Exam, 2008
18. Second five year plan was based on–
(a) Mohalanobis Model
(b) Wakil and Brahmanand Model
(c) Herald-Domar Growth model
(d) Salo growth model
Ans. (a) [SSC CGL Exam, 2006
19. Which among of the following is not among basic aims
of 10th five year plan?
(a) Decrease in poverty ratio
(b) Drinking water to all villages till 2012.
(c) Decrease in infant mortality rate.
(d) Decrease is import.
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20. "The Social Forestry scheme" was started in– (c) Poor Farmers (d) Liberalty of People
(a) Second five year plan Ans. (a) [SSC CPO Exam, 2011
(b) Sixth five year plan
28. In Indian Agriculture High Yielding Variety
(c) Fifth five year plan Programme was started in–
(d) Eight five year plan
(a) 1968 (b) 1967
(c) 1966 (d) 1965
21. Which type of product does CACP recommend
minimum support price for? Ans. (c) [SSC CPO Exam, 2011
(a) Industrial Products 29. The Census of 2011 was.
(b) Agricultural products (a) 13th Census (b) 14th Census
(c) Pharmaceutics Products
(c) 15th Census (d) 16th Census
Ans. (c) [SSC Tax Asst Exam, 2008
Ans. (b) [SSC 10+2 Exam,2010
30. Sex-ratio means–
22. Which is odd.
(a) S.G.S.Y. → Swarna Jayanti Gram Swarazgar Yojana (a) Number of females per thousand males.
(b) S.J.S.R.Y. → Swarna jayanti Shahri Rozagar Yojana (b) Number males per thousand females.
(c) N.O.A.P.S. →National Old Age Pension Scheme. (c) Number of child per thousands males.
(d) N.R.E.G.S.→National Rural Employment Guarantee (d) Number of males per thousands child.
Scheme.
Ans. (a) [SSC 10+2 Exam,2015
Ans. (c) [SSC Steno Exam, 2014
31. Which among of the following is not a feature of
23. In which matter green revolution has achieved population of developed countries?
maximum success.
(a) Low birth rate and low death rate.
(a) Sugarcane (b) Pulses
(b) High birth rate and high death rate.
(c) Wheat (d) Rice
(c) High ratio of urban population
Ans. (c) [SSC CPO Exam, 2006
(d) Low growth rate of population
24. The Vintage car are manufactured–
Ans. (b) [SSC Tax Asst. Exam, 2008
(a) Between 1945 and 1960
32. The Planning Commission of India was constituted in
(b) Between 1939 and 1945 the year–
(c) Between 1930 and 1939 (a) 1942 (b) 1947
(d) Between 1918 and 1930 (c) 1950 (d) 1955
Ans. (d) [SSC CPO Exam, 2006 Ans. (c) [SSC SO Exam, 2008]
25. The gradation and standardization of agricultural 33. Which Five Year Plan duration was of four years only?
products are conducted through –
(a) Third (b) Fourth
(a) Food corporation of India
(c) Fifth (d) Seventh
(b) Directorate of Marketing and Inspection
(c) Indian Standards Institution
34. Which of the following plans had actual growth rate
(d) Central statistical organization higher than the targetted growth rate?
Ans. (b) [SSC CPO Exam, 2007, CGL Exam, 2002 (a) Eighth Five Year Plan
26. The Cattle rearing along with farming is called. (b) Fourth Five Year Plan
(a) Mixed Farming (b) Mixed Agriculture (c) Fifth Five Year Plan
(c) Dairy Farming (d) Truck Agriculture (d) Seventh Five Year Plan
Ans. (a) [SSC CGL Exam, 2014 Ans. (a) [SSC CGL April Exam, 2014]
27. The achievement in agriculture by India has not 35. IRDP was introduced during the–
reached upto a greater level due to– (a) Third Five Year Plan (b) Sixth Five Year Plan
(a) Small holdings (b) Shortage of Tractors (c) Fifth Five Year Plan (d) Fourth Five Year Plan

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Ans. (b) [SSC CGL April Exam, 2014] Ans. (b) [SSC CISF Exam, 2010]
36. Who advocated the adoption of PURA’ model to
eradicate rural poverty?
(a) MS Swaminathan
(b) Maulana Abul Kalam Azad
(c) Dr APJ Abdul Kalam
(d) AM Khusro
Ans. (c) [SSC FCI Exam, 2012]
37. The Annapurna Scheme was implemented in the year–
(a) 1998 (b) 1996
(c) 1999 (d) 2000
Ans. (d) [SSC FCI Exam, 2012]
38. The objective of ‘Jawahar Rojgar Yojana’ is to–
(a) Provide employment to youth in rural areas
(b) Create employment opportunities for unemployed
persons
(c) Strengthen the rural economic and social structure
(d) All of the above
Ans. (d) [SSC Constable (GD) Exam, 2012]
39. AGMARK is a guarantee of standard–
(a) Quality (b) Quantity
(c) Weight (d) Size
Ans. (a) [SSC (10+2) Exam, 2011]
40. The Minimum Wages Act was first passed in India in
the year.
(a) 1947 (b) 1948
(c) 1950 (d) 1951
Ans. (b) [SSC MTS Exam, 2011, Tax Asst. Exam, 2008]
41. The food stocks that are built up during the years of
bumper harvest are called–
(a) Capital stock (b) Buffer stock
(c) Production stock (d) Grain stock
Ans. (b) [SC CGL Exam, 2011, CPO Exam, 2010]
42. What type of products, does CACP recommend
minimum support price for?
(a) Industrial products
(b) Agricultural products
(c) Pharmaceutical products
Ans. (b) [SSC (10+2) Exam, 2011]
43. Poverty in less developed countries is largely due to–
(a) Voluntary idleness
(b) Income inequality
(c) Lack of cultural activities
(d) Lack of intelligence of the people

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44. The government has renamed NREGA scheme and
the name associated with the scheme is that of–
(a) Rajiv Gandhi (b) Jawahar Lal Nehru
(c) Mahatma Gandhi (d) Indira Gandhi
Ans. (c) [SSC DEO Exam, 2009]
45. The implementation of 'Jawahar Rojgar Yojana' rests
with–
(a) Gram Panchayats (b) District Collectors
(c) State Governments (d) Union Government
46. The nature of unemployment in agriculture in India is–
(a) Only seasonal (b) Only disguised
(c) All of the above (d) None of the above
Ans. (c) [SSC Tax Asst. Exam, 2009]
47. A situation where we have people whose level of
income is not sufficient to meet the minimum
consumption expenditure is considered as–
(a) Absolute poverty (b) Relative poverty
(c) Urban poverty (d) Rural poverty
48. Who is the ex-officio Chairman of the Planning
Commission?
(a) Minister for Planning and Development
(b) Finance Minister
(c) Prime Minister
(d) Minister for Rural and Community Development
49. The draft of the Five Year Plans in India is approved
by the–
(a) National Development Council
(b) Planning Commission
(c) National Productivity Council
(d) Ministry of Finance
50. Indian agriculture is typically characterised as–
(a) Land surplus, Labour Scarce Economy
(b) Land surplus, Labour Surplus Economy
(c) Land scarce, Labour Surplus Economy
(d) Land scarce, Labour Scarce Economy
51. Mahalanobis Model has been associated with which
Five Year Plan?
(a) First Five Year Plan
(b) Second Five Year Plan
(c) Third Five Year Plan
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(d) Fourth Five Year Plan 58. In India, disguised unemployment is generally observed
Ans. (b) [SSC Matric Level Exam, 2008] in–
(a) The agricultural sector
52. Which is not the objective of public procurement and
distribution system followed by Indian Government? (b) The factory sector
(c) The service sector
(a) Maintain price stability through creation of buffer
stocks (d) All of the above
(b) Protect the interests of both consumers and poor Ans. (a) [SSC SO Exam, 2007]
farmers 59. Compared to the rich, the poor save–
(c) Control the production of food grains (a) A larger part of their income
(d) Reduce personal and regional inequality in the (b) An equal part of their income
distribution (c) A smaller part of their income
(d) All of their incomes
53. NREGP is the abbreviated form of–
(a) National Rural Employment Guarantee Programme
60. Kisan Credit Card Scheme was introduced in–
(b) National Rural Educational Guarantee Programme
(a) 1991 (b) 1996
(c) National Rapid Educational , Guarantee Programme
(c) 1998 (d) 2000
(d) National Rapid Employment Guarantee Programme
61. The gradation and standardisation of agricultural
54. The commission in India dealing with minimum products are conducted through–
support price, procurement price etc, in connection (a) Food Corporation of India
with agricultural goods is the–
(b) Directorate of Marketing and Inspection
(a) Planning Commission
(c) Indian Standards Institution
(b) Agricultural Costs and Prices Commission
(d) Central Statistical Organisation
(c) Agricultural Price Commission
(d) National Marketing Commission
62. Planning and control are so related that–
(a) Planning initiates control
55. Who coined the term ‘Hindu rate of growth’ for Indian
economy? (b) Control initiates planning
(a) AK Sen (b) Kirit S Parikh (c) Both are equivalent
(c) Raj Krishna (d) Montek Singh Ahluwalia (d) Both go on simultaneously in cycle
Ans. (c) [SSC SO Exam, 2008] Ans. (d) [SSC SO Exam, 2005]
56. The famous slogan ‘Garibi Hatao’ (remove poverty) 63. Antyodaya programe is associated with–
was launched during the– (a) liberation of bonded labour
(a) First Five Year Plan (1951-56) (b) bringing up cultural revolution in India
(b) Third Five Year Plan (1961-66) (c) demands of textile labourers
(c) Fourth Five Year Plan (1969-74) (d) upliftment of the poorest of the poor
(d) Fifth Five Year Plan (1974-79) Ans. (d) [SSC CPO Exam, 2005]
Ans. (d) [SSC SO Exam, 2007] 64. One of the objectives of Industrial Licensing Policy in
57. The highest body which approves the Five Year Plan in India was to ensure–
India is the– (a) creation of adequate employment opportunities
(a) Planning Commission (b) free flow of foreign capital in Indian industries
(b) National Development Council (c) use of modern technology
(c) Finance Ministry (d) balanced indsutrial development across regions
(d) Union Cabinet Ans. (d) [SSC CGL Exam, 2004]
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65. During which Five Year Plan India lay down objective (d) Optimum growth and resources
the need to ensure environmental substain- ability of the Ans. (b) [SSC Matric Level Exam, 2002]
development strategy?
(a) Sixth Five Year Plan 72. ISI mark is not given to which of the following
products?
(b) Seventh Five Year Plan
(a) Electric Goods (b) Hosiery Goods
(c) Eighth Five Year Plan
(d) Ninth Five Year Plan (c) Biscuits (d) Cloth
Ans. (d) [SSC SO Exam, 2003] Ans. (c) [SSC Matric Level Exam, 2002]
66. What is the extent of change of the literacy rate 73. The economic problem arises mainly due to–
envisaged by the end of the Ninth Five Year Plan? (a) Overpopulation
(a) From 65% to 75% (b) Unemployment
(b) From 60% to 70% (c) Scarcity of resources
(c) From 50% to 55% (d) Lack of industries
(d) From 45% to 50% Ans. (c) [SSC Matric Level Exam, 2001]
Ans. (a) [SSC CPO Exam, 2003] 74. India adopted the Five Year Plans from–
67. Why did the Government ban the import of ‘Terminator (a) France (b) Former USSR
seeds’?
(c) America (d) England
(a) To contain a virus which can destroy local crops
Ans. (b) [SSC Matric Level Exam, 2001]
(b) These seeds are injurious to human and animal health
75. Which of the following is the largest employer in India?
(c) These seeds contain genetically engineered properties
(a) Food Corporation of India
to prevent further multiplication
(b) Posts and Telegraphs Department
(d) These seeds multiply at very slow rates
(c) Indian Railways
(d) Steel Authority of India
68. Whatis’AGMARK’?
(a) It is a marketing seal issued on the graded agricultural
commodity 76. To achieve economic self-reliance was the main
objective of which Five Year Plan?
(b) It stands for agricultural marketing
(a) First Five Year Plan
(c) It represents agricultural management and regulation
(b) Second Five Year Plan
(c) Third Five Year Plan
(d) Fourth Five Year Plan
69. Commercialisation of agriculture implies–
(a) Cultivation of timbers
77. Structural unemployment arises due to–
(b) Plantation
(a) Deflationary conditions
(c) Production of crops for sale
(b) Heavy industry bias
(d) Production of crops like wheat or rice
(c) Shortage of raw materials
(d) Inadequate productive capacity
70. India’s First Five Year Plan gave priority to–
(a) Industry (b) Trade
78. What was the objective of Command Area Development
(c) Transportation (d) Agriculture
Programme ?
(a) To ensure that land is given to the tillers
71. Malthusian theory of population explored the
(b) To ensure better utilisation of irrigation potential
relationship between–
(c) To develop the areas under the command of Army
(a) Food supply and technology
(d) Poverty alleviation in selected areas
(b) Food supply and population growth
(c) Population growth and development

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(c) Vote on Account
Budget
(d) From the Treasury
Ans. (b) [SSC 10+2 Exam, 2010]
1. Expenditure, taxation and loan taking policies of
government are called as- 9. The Economic Survey of India is published by–
(a) Fiscal Policy (b) Monetary Policy (a) Statistical Department
(c) Bank Policy (d) Tax Policy (b) CSO
Ans. (a) [S.S.C (10+2) Exam, 2012] (c) Ministry of Finance
2. Fiscal policy is related to – (d) Department of Economic Affairs
(a) Monetary Policy Ans. (c) [SSC CPO Exam, 2012]
(b) Banking System 10. Government takes “Ways and Means advances” from
(c) Economic Progress Planning (a) RBI (b) IDBI
(d) Receiving and Expenditure of Govt. (c) SBI (d) ICICI
Ans. (d) [S.S.C (CGL) Exam, 2006] Ans. (a) [SSC CPO Exam, 2007]
3. According to socialism who is the greatest enemy of 11. The Maximum Part of revenue of Indian railway comes
society. from.
(a) Personal Property (b) Capitalist Class (a) Coaches (b) Transport of goods
(c) Religion (d) Cost (c) Tickets (d) Other sources
Ans. (a) [S.S.C (CGL) Exam, 2015] Ans. (b) [SSC Steno Exam, 2014]
4. From national point of view, which of the following 12. Disinvestment in Public Sector is called–
represent micro approach. (a) Liberalization (b) Globalization
(a) Study of selling of Tisco (c) Industrialization (d) Privatization
(b) Educated unemployment in India Ans. (d) [SSC CGL Exam, 2011]
(c) Per capital income in India 13. Which one of the following is a development expenditure?
(d) Money inflation in India. (a) Irrigation Expenditure
Ans. (a) [S.S.C (CGL) Exam, 2015] (b) Civil Administration
5. From national point of view, which of the following (c) Debt Services
represent Macro approach.
(d) Grant-in-Aid
(a) Selling of Bata-shoe company
(b) Inflation in India
(c) Import of mangoes from U.S.A 14. Disinvestements is–
(d) Revenue from Railway. (a) of floading of shares of privates companies to
government
Ans. (b) [S.S.C (CGL) Exam, 2015]
(b) offloading of government shares to private companies
6. Subsidy by government of India is given to–
(a) Consumer Unit (b) Productive Unit (c) increase in investment
(c) Banking Unit (d) Government Employee (d) closing down of business concerns
Ans. (b) [SSC 10+2 Exam, 2014] Ans. (b) [SSC CPO Exam, 2008]
7. The Prominent factor responsible for division of 15. Subsidies are payment by government to–
contingency fund. (a) Consuming Units (b) Producing Units
(a) Death (b) Harm (c) Banking Units (d) Retired Persons
(c) Accident (d) Vulnerability
Ans. (a) [SSC (10+2) Nov. Exam, 2014]
Ans. (d) [SSC 10+2 Exam, 2014]
16. Which one of the following is not an objective of Fiscal
8. For which fund can the unanticipated expenditure be Policy in India?
met without the prior approval of the parliament?
(a) Full Employment
(a) Consolidated Fund of India
(b) Price Stability
(b) Contingency Fund of India
(c) Equitable distribution of wealth and incomes
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(d) Regulation of international trade 23. The single largest item of expenditure of the Central
Ans. (d) [SSC (10+2) Exam, 2011] Government in India in recent years is–
17. In the budget figures of the Government of India, (a) Defence (b) Subsidies
interest payments, subsidies, pensions, social services (c) Interest Payment (d) General services
and the like are parts of the– Ans. (c) [SSC Matric Level Exam, 2002]
(a) Plan Expenditure
Balance of Payment
(b) State Government Expenditure
(c) Public debt in the form of capital expenditure
1. The Great Depression was observed in which duration?
(d) Non-plan Expenditure
(a) 1914-18 (b) 1929-34
(c) 1939-45 (d) 1922-36
18. In the budget figures of the Government of India the
difference between total expenditure and total receipts Ans. (b) [S.S.C Multitasking Exam, 2013]
is called– 2. The process of organizing business-pact between group
(a) Fiscal Deficit of countries is called as –
(b) Budget Deficit (a) Trading Block (b) Trade venture
(c) Revenue Deficit (c) Trade Partner (d) Trade organizer
(d) Current Deficit Ans. (a) [S.S.C (CGL) Exam, 2010]
Ans. (a) [SSC SO Exam, 2007] 3. “Price Index” is measured by change in which of the
following-
19. In the budget figures of the Government of India, fiscal
deficit is– (a) Living Standard
(a) Total Expenditure - Total Receipts (b) Purchasing power of money
(b) Revenue Expenditure - Revenue Receipts (c) Balance of Payment
(c) Capital Expenditure - Capital Receipts + Market (d) Balance of Trade
Borrowings Ans. (b) [S.S.C Steno Exam, 2015]
(d) Sum of budget deficit and government’s market 4. ‘Gold’ is mainly related to-
borrowings and liabilities
(a) Local Market
(b) National Market
20. Which of the following is the most important domestic
(c) International Market
source of planned finance?
(a) Balance of Current Revenue (d) Regional Market.
(b) Profit from Public Sector Units Ans. (c) [S.S.C (CGL) Exam, 2013]
(c) Domestic Private Savings 5. "Barter – System" means–
(d) Additional Taxation (a) Exchange of goods with coins
Ans. (c) [SSC SO Exam, 2005] (b) Exchange of goods with goods
21. Government securities are considered liquid because (c) Money exchange
they are– (d) Exchange of goods with gold coins
(a) backed by the government treasure Ans. (b) [SSC 10+2 Exam,2015]
(b) convertible into other types of saving deposits, 6. Which is the feature of “Free Market”–
(c) quickly and easily marketable (a) Strong intervention of state
(d) stable in value (b) Superiority of Consumer
Ans. (c) [SSC SO Exam, 2003] (c) Rationing and price control
22. Deficit financing is an instrument of– (d) None of the above
(a) Monetary Policy (b) Credit Policy Ans. (b) [SSC CGL Exam, 2015]
(c) Fiscal Policy (d) Tax Policy 7. World Trade Organization was established in–
Ans. (c) [SSC CPO Exam, 2005] (a) 1991 (b) 1995

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(c) 1997 (d) 1999 (c) Rajeev Gandhi (1985)
Ans. (b) [SSC Metric Level Exam, 2008] (d) Janta Party (1977)
8. WTO was earlier known as– Ans. (a) [SSC CPO Exam, 2008]
(a) GATT (b) UNICEI 16. Oilseeds production Programme (OPP) was started in–
(c) UNCTAD (d) FAO (a) 1986 (b) 1987
Ans. (a) [SSC Tax Asst. Exam, 2006] (c) 1988 (d) 1990
9. The practice of selling goods in a foreign country at a Ans. (d) [SSC CGL Exam, 2014]
price below their domestic selling price is called. 17. TRIMs Stands for–
(a) Diplomacy (b) Discriminator (a) Trade Related Industrial Measures.
(c) Dumping (d) Double pricing (b) Trade Related Innovation Measures.
Ans. (c) [SSC Setc off Exam, 2006] (c) Trade Related Investment Measures.
10. For any product, balance of market is decided by– (d) Trade Related information Measures.
(a) Market supply of product. Ans. (c) [SSC CPO Exam, 2008]
(b) Various forces operating between demand and supply. 18. FAO means–
(c) Intervention of government. (a) Fiber and Agricultural Organization
(d) Market demand of product (b) Factory Evaluation Organization
Ans. (b) [SSC CPO Exam, 2015] (c) Free Orbitration organization
11. Which among of the following organization is oldest? (d) Food and Agriculture Organization
(a) IMF (b) WHO Ans. (d) [SSC Steno Exam, 2008]
(c) ILO (d) FAO 19. GEF Nands for–
Ans. (c) [SSC Tax Asst Exam, 2007] (a) Global Environment fund.
12. "Full convertibility of a rupee" means– (b) Global Economic fund.
(a) Purchase of foreign exchange for rupees only (c) Global Education Fund.
(b) Payment for imports in terms of rupees (d) Global Energy Fund.
(c) Repayment of loans in terms of rupees Ans. (a) [SSC SEC OFF Exam 2008]
20. The Number of stages in trade cycle is?
(d) Determination of rate of exchange between rupee
and foreign currencies freely by the market forces of (a) Five (b) Six
demand and supply. (c) Three (d) Four
Ans. (d) [SSC Tax Asst. Exam, 2009] Ans. (d) [SSC Steno Exam, 2012]
13. The system of “Memorandum of Understandings” 21. "Closed Economy" is a economy in which–
(MoU) was introduced in–
(a) Business of a country with other country is Zero.
(a) 1989-90 (b) 1990-91 (b) A country having no any mean of transportation
(c) 1987-88 (d) 1988-89 (c) A country having no coastline.
Ans. (c) [SSC Multitasking Exam, 2013] (d) A country is not a member of United Nation Council.
14. The Full form of SDR is– Ans. (a) [SSC CPO Exam, 2005]
(a) Special Dollar Rights 22. Buying of shares and bonds of Indian companies by
(b) Special Drawing Rights foreign institutions is called.
(c) State Drawing Rights (a) Foreign Direct Investment
(d) Specific Dollar Right (b) Portfolio Investment
Ans. (b) [SSC CPO Exam, 2008] (c) Institutional Investment
15. In Post-Independence Period first economic reform was (d) Foreign Indirect Investment
started in the government of –
Ans. (b) [SSC CGL Exam, 2011
(a) P.V. Narasimha Rao (1990)
23. Private investment is otherwise called as–
(b) Indira Gandhi (1980)
(
Autonomous investment
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(b) Foreign institutional investment (c) Pegged up exchange Rate
(c) Foreign direct investment (d) Pegged down exchange Rate
(d) Induced investment Ans. (b) [SSC CGL Exam, 2010]
Ans. (d) [SSC CGL April Exam, 2014] 31. The outcome of ‘devaluation of currency’ is–
24. The annual record for all the monetary transactions of (a) Increased export and improvement in balance of
a country with other countries of the world is known as– payment
(a) Balance of Trade (b) Increased export and foreign reserve deficiency
(b) Balance of Monetary-Receipts (c) Increased import and improvement in balance of
(c) Balance of Payments payment
(d) Balance Sheet (d) Increased export and import
Ans. (c) [SSC lax Asst. Exam, 2005] Ans. (a) [SSC Tax Asst. Exam, 2006, SO Exam, 2003]
25. The profits of Indian-banks operating in foreign 32. The Government resorts to devaluation of its currency
countries are a part of– in order to promote–
(a) Income from entrepreneurship earned from abroad
(a) National Income (b) International Goodwill
(b) Domestic factor income of India
(c) Exports (d) Savings
(c) Profits of the enterprises working in domestic territory
of India Ans. (c) [SSC CPO Exam, 2005]
(d) Operating surplus of the banks located in India 33. Devaluation makes import–
Ans. (a) [SSC (10+2) Nov. Exam, 2014] (a) Competitive (b) Inelastic
26. India’s Balance of Payments can be corrected through– (c) Cheaper (d) Dearer
(a) Devaluation of currency Ans. (d) [SSC SO Exam, 2005]
(b) Vigorous export promotion 34. When did the rupee become a freely convertible
(c) Import substitution currency on Current Account in India?
(d) All of the above (a) 2000 (b) 2001
Ans. (d) [SSC (10+2) Exam, 2011] (c) 1994 (d) 1999
27. Which one of the following items is not included in the Ans. (c) [SSC Tax Asst. Exam, 2004]
current account of India’s Balance of Payments? 35. Devaluation usually causes the internal prices to–
(a) Short-Term Commercial Borrowings (a) Fall
(b) Non-Monetary Gold Movements
(b) Rise
(c) Investment Income
(c) Remain unchanged
(d) Transfer Payments
28. Investment is equal to–
(a) Gross total of all types of physical capital assets 36. Floating Exchange Rate is also referred to as–
(b) Gross total of all capital assets minus wear and tear (a) Flexible Exchange Rate
(c) Stock of plants, machines and equipments (b) Fixed Exchange Rate
(d) None of the above (c) Real Exchange Rate
Ans. (b) [SSC CGL Exam, 2000] (d) Controlled Exchange Rate
29. When there is an official change in the exchange rate of Ans. (a) [SSC MTS Exam, 2002]
domestic currency, then it is called–
37. The ‘3 B’s’ brokers, bankers and businessmen were
(a) Appreciation (b) Depreciation responsible for–
(c) Revaluation (d) Deflation (a) The Great Depression
Ans. (c) [SSC CGL Exam, 2011] (b) Russian Revolution
30. At present, India is following. (c) French Revolution
(a) Fixed exchange Rate (d) First World War
(b) Floating exchange Rate Ans. (a) [SSC Stenographer Sep. Exam, 2014]

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38. A favourable Balance of Trade of a country implies (d) Gems and Jewellery
that– Ans. (c) [SSC MTS Exam, 2006]
(a) Import are greater than exports 46. The difference between visible exports and visible
(b) Exports are greater than imports imports is defined as–
(c) Both imports and exports are equal (a) Balance of Trade
(d) Rising imports and falling exports (b) Balance of Payment
(c) Balanced Terms of Trade
(d) Gains from Trade
39. Special Economic Zone (SEZ) concept was first
introduced in– Ans. (a) [SSC Tax Asst. Exam, 2006]
(a) China (b) Japan 47. A country’s balance of trade is unfavourable when–
(c) India (d) Pakistan (a) exports exceed imports
Ans. (a) [SSC Stenographer Exam, 2011] (b) imports exceed exports
40. Which one of the following does not deal with export (c) terms of trade become unfavourable
promotion? (d) None of the above
(a) Trade Development Authority Ans. (b) [SSC Investigator Exam, 2006]
(b) Minerals and Metals Trading Corporation 48. Industrial Exit Policy means–
(c) Cooperative Marketing Societies (a) forcing foreign companies to leave India
(d) State Trading Corporation of India (b) forcing business units to move out of congested
Ans. (c) [SSC CGL Exam, 2008] localities
41. A trade policy consists of– (c) allowing manufactures to shift their line of products
(a) Export-Import Policy (d) following business units to close down
(b) Licencing Policy Ans. (d) [SSC SO Exam, 2006]
(c) Foreign Exchange Policy 49. Theoretically trade between two countries takes place
on account of–
(d) Balance of Payment Policy
(a) Difference in Costs
(b) Scarcity of Goods
42. How far does the exclusive economic zone of a country
extend from her coast? (c) Comparative Differences in Costs
(a) 120 km (b) 220 km (d) Need for Exports
(c) 320 km (d) 420 km Ans. (c) [SSC MTS Exam, 2002]
Ans. (c) [SSC SO Exam, 2008] 50. The major aim of devaluation is to–
43. Where is the Indian Institute of foreign trade located? (a) encourage Imports
(a) New Delhi (b) Hyderabad (b) encourage Exports
(c) Mumbai (d) Ahmedabad (c) encourage both Exports and Imports
Ans. (a) [SSC SO Exam, 2008] (d) discourage both Exports and Imports
44. The definition of ‘small-scale industry’ in India is based Ans. (b) [SSC CGL Exam, 2000]
on– 51. FERA in India has been replaced by–
(a) Sales by the unit
(a) FEPA (b) FEMA
(b) Investment in machines and equipments
(c) FENA (d) FETA
(c) Market coverage
(d) Export capacity
52. One of the main factors that led to rapid expansion of
Ans. (a) [SSC Tax Asst. Exam, 2007] Indian exports is–
45. The biggest item of India’s imports is– (a) imposition of import duties
(a) Iron ore (b) liberalisation of the economy
(b) Mica (c) recession in other countries
(c) Petroleum products (d) diversification of exports

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Ans. (d) [SSC CPO Exam, 2007] (b) Demand – Pull Inflation
inflation (c) Disinflation

(d) Reflection
Ans. (c) [SSC Sec off. Exam, 2007]
1. The main determinant of real wage is –
(a) Extra earning (b) Nature of work 9. Real wage is–
(c) Promotion Prospect (d) Purchasing power of money. Profit (b) Rent
(a)
Ans. (d) [S.S.C (CGL) Exam, 2008] Pricelevel Pricelevel
2. The term stagflation refers to a situation where – Money wage
Interest
(a) Growth has no relation with the change in price (d)
(b) Rate of growth and prices both are decreasing Pricelevel Pricelevel
(c) Rate of growth is faster than the rate of price increase Ans. (d) [SSC (10+2) Exam, 2012]
(d) Rate of growth is slower than the rate of price increase 10. State which of the following is correct? The consumer
price index reflects–
(a) The standard of living
3. The Presence of both higher rate of inflation and
unemployment is called – (b) The extent of inflation in the prices of consumer goods
(c) The increasing per capita income
(a) Recovery (b) Stagflation
(d) The growth of the economy
(c) Recession (d) Deflation
Ans. (b) [SSC Multitasking Exam, 2011]
11. During periods of inflation, tax rates should–
4. Stagflation is a situation of–
(a) Increase (b) Decrease
(a) Stagnation and Deflation
(c) Remain constant (d) Fluctuate
(b) Stagnation and Recession
(c) Stagnation and Inflation
(d) Stagnation and Recovery 12. When too much money is chasing too few goods, the
situation is–
Ans. (c) [SSC DEO Exam, 2009]
(a) Deflation (b) Inflation
5. The relationship between the value of money and the
price level is an economy is– (c) Recession (d) Stagflation
(a) Direct (b) Inverse Ans. (b) [SSC SO Exam, 2001]
(c) Proportional (d) Stable 13. Inflation redistributes income and wealth in favour of–
Ans. (b) [SSC DEO Exam, 2009] (a) Pensioners (b) Poor
6. The Result of cost push inflation is– (c) Middle Class (d) Rich
(a) Hindrances in economic development increases Ans. (d) [SSC CGL Exam, 2011]
(b) Adverse effect on Balance on Payment 14. The term stagflation refers to a situation where–
(c) Hindrance in development (a) Growth has no relation with the change in prices
(d) All of the above (b) Rate of growth and prices both are decreasing
Ans. (d) [SSC CPO Exam, 2015] (c) Rate of growth is faster than the rate of price increase
7. Who gets Maximum profit during inflation? (d) Rate of growth is slower than the rate of price increase
(a) Shareholder Ans. (d) [SSC Tax Asst. Exam, 2009]
(b) Entrepreneurs 15. Inflation occurs when aggregate supply is–
(c) Government Employee (a) more than aggregate demand
(d) Corporate Employee (b) less than aggregate demand
(c) equal to aggregate demand
8. The process of curing inflation by reducing money
supply is called. Ans. (b) [SSC SO Exam, 2006]
(a) Cost – Push Inflation 16. Inflation is caused by–

(a) Increase in supply of goods
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(b) Increase in cash with the government 7. The share broker who sells shares in the apprehension
(c) Decrease in money supply of falling prices of shares is called–
(d) Increase in money supply (a) Bull (b) Dog
Ans. (d) [SSC CGL Exam, 2004] (c) Bear (d) Stag
17. Which of the following groups suffer the most from Ans. (c) [SSC SO Exam, 2005]
inflation? 8. Which amidst the following is not a credit rating
(a) Debtors (b) Creditors agency?
(c) Business Class (d) Holders of Real Assets (a) CRISIL (b) CARE
Ans. (b) [SSC CPO Exam, 2003] (c) ICRA (d) IFCI
18. Inflation can be checked by– Ans. (d) [SSC Tax Asst. Exam, 2004]
(a) Increasing exports 9. The first state owned company from India to be listed
on the New York Stock Exchange is–
(b) Increasing money supply
(c) Increasing government expenditure (a) Videsh Sanchar Nigam Limited
(d) Decreasing money supply (b) Mahanagar Telephone Nigam Limited
Ans. (d) [SSC MTS Exam, 2002] (c) Tata Iron and Steel Company
share market (d) Wipro
10. For channelising the unaccounted money for productive
1. Capital market regulator is–
purposes the government introduced the scheme of–
(a) NSE (b) RBI
(a) Special Bearer Bonds
(c) SEBI (d) IRDA
(b) Resurgent India Bonds
Ans. (c) [SSC DEO, (10+2) Exam, 2012]
(c) Provident Funds
2. A short-term government security paper is called–
(a) Share (b) Debenture (d) Market Loans
(c) Mutual Fund (d) Treasury Bill Ans. (a) [SSC MTS Exam, 2002]
Ans. (d) [SSC CGL Exam, 2010] 11. A speculator who sells stocks, in order to buy back
3. In the context of the stock market, IPO stands for– when price falls, for gain is a–
(a) Immediate Payment Order (a) Bull (b) Bear
(b) Internal Policy Obligation (c) Boar (d) Bison
(c) Initial Public Offer Ans. (b) [SSC MTS Exam, 2002]
(d) International Payment Obligation
12. What is the purpose of the India Brand Equity Fund?
Ans. (c) [SSC Investigator Exam, 2010] (a) To promote in-bound tourism
4. New capital issue is placed in– (b) To make ‘Made in India’ a label of quality
(a) Secondary market (b) Grey market (c) To organise trade fairs
(c) Primary market (d) Black market (d) To provide venture capital to IT sector
Ans. (c) [SSC SO Exam, 2006] Ans. (b) [SSC CGL Exam, 2003]
5. NIFTY is associated with–
(a) Cloth Market Price Index micro economics
(b) Consumer Price Index
(c) BSE Index
demand and suPPly
(d) NSE Index
Ans. (d) [SSC Tax Asst. Exam, 2005] 1. The Consumption of inferior goods decreases when-
6. Bull and Bear are related to which commercial activity? (a) Market Price increases
(b) Income increases
(a) Banking (b) E-commerce
(c) Market Price decreases
(c) International trade (d) Stock market
(d) Income decreases
Ans. (b) [S.S.C LDC Exam, 2011]
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2. For a goods--------negative income elasticity and 10. When there is no change in demand, with large change
positive in price then such type of demands are called.
price elasticity of demand, then the good is- (a) Elastic (b) Inelastic
(a) An inferior goods (b) Normal goods
(c) Perfectly inelastic (d) Relatively elastic
(c) Superior goods (d) Giffen goods
Ans. (c) [S.S.C Matric level Exam, 2008]
11. With other factor Constant, the demand of any product
3. The Goods which are either for consumption or for is decreased by.
investment are called-
(a) Increase in price of that product
(a) Intermediate goods (b) Final goods
(b) Increase in income of customer.
(c) Giffen goods (d) Inferior goods
(c) Decrease in price of that product
Ans. (b) [S.S.C (10+2) Exam, 2013]
(d) Decrease in income of customer
4. The Price discrimination is helpful when.
Ans. (a) [SSC. 10+2 Exam,2014]
(a) Demand elasticity for two market is different
12. There will be increase in price of tomato in domestic
(b) Demand elasticity for two market is same market, if.
(c) Supply elasticity for two market is different (a) There is enormous production of tomato
(d) Supply elasticity for two market is same. (b) Export of fresh tomatoes to other countries
Ans. (a) [S.S.C (LDC) Exam, 2005] (c) Production cost of tomato is less
5. In capitalist economy, price value is determined by. (d) All of the above
(a) Demand & Supply (b) Government Ans. (b) [SSC Metric level Exam, 2006]
(c) Buyers (d) Sellers 13. Which of the following is not the direct deciding factor
Ans. (a) [S.S.C (FCI) Exam, 2012] of demand.
6. Discuss about giffen and inferior good. (a) Saving (b) Income
(a) Inferior goods are also giffen (c) Price (d) Taste
(b) Giffen goods are also inferior goods Ans. (a) [SSC 10+2 Exam,2012]
(c) Inferior good should not be giffen 14. Which of the following goods has elastic demand.
(d) Giffen good should not be inferior. (a) Electricity (b) Medicines
Ans. (b) [S.S.C Matric level Exam, 2006] (c) Rice (d) Match box
7. The Price elasticity of demand is – Ans. (a) [SSC 10+2 Exam,2011]
(a) Elasticity = %change in demand ÷ %change in price 15. Which of the following statement is true?
(b) Elasticity = %change in price ÷ %change in demand (a) Price of any good depends upon its cost.
(c) Elasticity = %change in demand ÷ %change in supply (b) Any good has valuable price in anyone which has
desire to buy it.
(d) Elasticity = %change in supply ÷ %change in Price.
(c) Price of any good depend upon place value.
Ans. (a) [S.S.C (10+2) Exam, 2013]
(d) Any good has its price if its supply is less than
8. Elasticity expressed by formula 1>e>o is –
demand.
(a) Perfectly elastic
Ans. (d) [SSC. CPO Exam, 2012]
(b) Relatively elastic
16. The “Law of market” was propounded by –
(c) Perfectly inelastic
(a) Adam Smith (b) J.B. Say
(d) Relatively inelastic
(c) T.P. Malths (d) David Recordo
Ans. (d) [S.S.C Multitasking Exam, 2013]
Ans. (b) [SSC Sect off Exam, 2006]
9. When percent change in demand for a commodity is
17. The “Law of Market” propounded by J.B. Say was not
less than percentage change in its price, then demand is
acceptable to –
said to be–
(a) Adam Smith (b) Marshall
(a) Highly elastic (b) Inelastic
(c) David Recordo (d) Malthus
(c) Relatively elastic (d) Perfectly inelastic.
Ans. (d) [SSC 10+2 Exam,2016]
Ans. (b) [S.S.C Multitasking Exam, 2013]
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18. Which of the following is an Example of derived 26. Collective consumption means–
demand.
(a) Household consumption
(a) Rice (b) Cloths
(b) Individual consumption
(c) Beauty Products (d) Cement
Ans. (d) [SSC CPO Exam, 2012] (c) Self-consumption
19. Demand of Labour is called– (d) Consumption by the citizens of the country
(a) Derived demand (b) Factory demand Ans. (a) [SSC (10+2) Nov. Exam, 2014]
(c) Market demand (d) Direct demand 27. The Phillip’s curve is the schedule showing the
relationship between–
(a) Aggregate supply and demand
20. Perfectly inelastic demand is equal to–
(b) Total saving and investment
(a) Unity (b) Zero
(c) The rate of unemployment and rate of inflation
(c) Infinity (d) Greater than unity
(d) Demand for and supply of loanable funds
Ans. (b) [SSC 10+2 Exam, 2015]
Ans. (c) [SSC CGL July Exam, 2014]
21. Which among the following are close substitutes?
28. Goods which are meant either for consumption or for
(a) Milk and Sugar (b) Sugar and Tea investment are called–
(c) Tea and Coffee (d) Coffee and Biscuits (a) Inferior goods (b) Intermediate goods
Ans. (c) (c) Final goods (d) Giffen goods
22. If there is decrease in price of X, then demand of Y is Ans. (c) [SSC (10+2) Exam, 2013]
also decreased, then X & Y are.
29. A supply function expresses the relationship between–
(a) Substitute goods
(a) Price and demand (b) Price and consumption
(b) Complementary goods
(c) Price and output (d) Price and selling cost
(c) X is inferior to Y
Ans. (c) [SSC (10+2) Exam, 2013]
(d) Y is inferior to X
30. Demand for complementary goods is known as–
Ans. (a) [SSC LDC Exam, 2005]
(a) Joint demand (b) Derived demand
23. For Successful Price discrimination between two
market, demand elasticity of production should be. (c) Direct demand (d) Cross demand
(a) Same (b) Different Ans. (a) [SSC (10+2) 2012]
(c) Constant (d) Zero 31. Name the curve which shows the quantity of products a
seller wishes to sell at a given price level.
(a) Demand curve (b) Cost curve
24. Other things being equal, a decrease in quantity
demanded of a commodity can be caused by– (c) Supply curve (d) None of the above
(a) A rise in the price of the commodity Ans. (c) [SSC Constable (GD) Exam, 2012]
32. In a capitalistic economy the prices are determined by–
(b) A rise in the income of the consumer
(a) Demand and supply (b) Government authorities
(c) A fall in the price of a commodity
(c) Buyers in the market (d) Sellers in the market
(d) A fall in the income of the consumer Ans. (a) [SSC FCI Exam, 2012]
Ans. (a) [SSC (10+2) Nov. Exam, 2014] 33. Consumer’s surplus is the highest in the case of–
25. Which of the following are consumer semi-durable (a) Durable goods (b) Luxuries
goods?
(c) Comforts (d) Necessities
(a) Cars and Television sets
Ans. (c) [SSC (10+2) Exam, 2012]
(b) Milk and Milk products
34. Which one of the following pairs of goods is an Example
(c) Foodgrains and other food products for joint supply?
(d) Electrical appliance like fans and electric irons (a) Coffee and Tea
Ans. (c) [SSC (10+2) Nov. Exam, 2014] (b) Ink and Pen

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(c) Tooth brush and Paste (c) Perfectly elastic (d) Of unitary elasticity
(d) Wool and Mutton Ans. (c) [SSC (10+2) Exam, 2010]
Ans. (d) [SSC (10+2) Exam, 2011] 43. Demand curve of a firm under perfect competition is–
35. For an inferior good, demand falls when– (a) Horizontal to x-axis
(a) Price rises (b) Income rise (b) Negatively sloped
(c) Price falls (d) Income falls (c) Positively sloped
Ans. (b) [SSC (10+2) Exam, 2011] (d) U-shaped
36. Equilibrium price is the price when– Ans. (a) [SSC (10+2) Exam, 2010]
(a) Supply is greater than demand 44. If two commodities are complements, then their cross-
(b) Supply is less than demand price elasticity is–
(c) Demand is very high (a) Zero (b) Positive
(d) Supply is equal to demand (c) Negative (d) Imaginary number
Ans. (d) Ans. (c) [SSC CPO Exam, 2009]
37. Which one of the following is having elastic demand? 45. An exceptional demand curve is one that moves–
(a) Electricity (b) Medicines (a) Upward to the right (b) Downward to the right
(c) Rice (d) Match boxes (c) Horizontally (d) Vertically
Ans. (c) [SSC (10+2) Exam, 2011] Ans. (a) [SSC Tax Asst. Exam, 2009]
38. A 'want' becomes a demand only when it is backed by 46. Extension or contraction of quantity demanded of a
the– commodity is a result of a change in the–
(a) Ability to purchase (b) Ncessity to buy (a) Unit price of the commodity
(c) Desire to buy (d) Utility of the product (b) Income of the consumer
Ans. (a) [SSC CGL Exam, 20101] (c) Taste of the consumer
39. Under increasing returns the supply curve is– (d) Climate of the region
(a) Positively sloped from left to right Ans. (a) [SSC Tax Asst. Exam, 2008]
(b) Negatively sloped from left to right 47. A fall in demand or rise in supply of a commodity–
(c) Parallel to the quantity-axis (a) increases the price of that commodity
(d) Parallel to the price-axis (b) decreases the price of that commodity
Ans. (a) [SSC (10+2) Exam, 2010] (c) neutralises the changes in the price
40. When the price of a commodity falls, we can expect– (d) determines the price elasticity
(a) The supply of it to increase Ans. (b) [SSC DEO Exam, 2008]
(b) The demand for it to fall 48. Supply creates its own demand. This statement is
related to–
(c) The demand for it to stay constant
(a) Professor JB Say (b) John Robinson
(d) The demand for it to increase
(c) Adam Smith (d) JS Mill
Ans. (d) [SSC SAS Exam, 2010]
41. Law of demand implies that when there is excess
demand for a commodity, then– 49. Cross elasticity of demand between petrol and car is–
(a) Price of the commodity falls (a) Infinite (b) Positive
(b) Price of the commodity remains same (c) Zero (d) Negative
(c) Price of the commodity rises Ans. (d) [SSC Tax Asst. Exam, 2008]
(d) Quantity demanded of the commodity falls 50. The Law of Demand expresses–
Ans. (c) [SSC (10+2) Exam, 2012] (a) Effect of change in price of a commodity on its
demand
42. A horizontal demand curve is–
(b) Effect of change in demand of a commodity on its
(a) Relatively elastic (b) Perfectly inelastic price

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(c) Effect of change in demand of a commodity over the (c) Low elasticity of demand
supply of its substitute (d) High income elasticity of demand
(d) None of the above Ans. (c) [SSC MTS Exam, 2006]
Ans. (a) [SSC Tax Asst. Exam, 2008] 59. Bread and butter, car and petrol are Examples of goods
51. The demand curve for a Giffen good is– which have–
(a) Upward rising (a) Composite demand
(b) Downward falling (b) Joint demand
(c) Parallel to the quantity axis (c) Derived demand
(d) Parallel to the price axis (d) Autonomous demand
Ans. (a) [SSC CGL Exam, 2007] Ans. (b) [SSC MTS Exam, 2006]
52. Imputed gross rent of owner occupied buildings is a 60. In the law of demand, the statement “Other things
part of– remain constant” means–
(a) Capital formation (a) Income of consumer should not change
(b) Final consumption (b) Price of other goods should not change
(c) Intermediate consumption (c) Taste of consumer should not change
(d) Consumer durable (d) All of the above
Ans. (b) [SSC Tax Asst. Exam, 2007] Ans. (d) [SSC CPO Exam, 2006]
53. The supply of agricultural products is generally– 61. The functional relationship between income and
(a) Elastic (b) Inelastic consumption expenditure is-explained by–
(a) Consumer surplus
(c) Perfectly elastic (d) Perfectly inelastic
(b) Law of demand
(c) Law of supply
54. All of the goods which are scarce and limited in supply (d) Keynes’s psychological law of consumption
are called–
(a) Luxury goods (b) Expensive goods
62. Equilibrium price means–
(c) Capital goods (d) Economic goods
(a) Price determined by Demand and Supply
(b) Price determined by Cost and Profit
55. Engel’s Law states the relationship between–
(c) Price determined by Cost and Production
(a) Quantity demanded and price of a commodity
(d) Caprice determined to maximise profit
(b) Quantity demanded and price of substitutes
(c) Quantity demanded and tastes of the consumers
63. When aggregated supply exceeds aggregate demand–
(d) Quantity demanded and income of the consumers
(a) Unemployment falls
Ans. (d) [SSC CGL Exam, 2007] (b) Prices rise
56. Seawater, fresh, air etc are regarded in economics as– (c) Inventories accumulate
(a) Giffen goods (b) Inferior goods (d) Unemployment develops
(c) Free goods (d) Normal goods Ans. (c) [SSC CPO Exam, 2004]
Ans. (c) [SSC CPO Exam, 2006] 64. According to Keynesian theory of income
determination, at full employment a fall in aggregate
57. If the price of tea falls, demand for coffee will–
demand causes–
(a) Increase (b) Decrease
(a) A fall in prices of output and resources
(c) Remain same (d) None of these
(b) A fail in real gross National product and employment
(c) A rise in real gross National product and investment
58. If the main objective of the government is to raise
(d) A rise in prices of output and resources
revenue, it should tax commodities with–
(a) High elasticity of demand
65. If the price of an inferior good falls its demand–
(b) Low elasticity of supply
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(a) Rises (b) Falls

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(c) Remains constant (d) Can be any of the above (d) Change in the price of that commodity
Ans. (a) [SSC CPO Exam, 2003] Ans. (c) [SSC CGL Aug. Exam, 2014]
66. Demand of commodity mainly depends upon– 74. Which one of the following is an Example of joint
(a) Purchasing will (b) Purchasing power supply?
(c) Tax policy (d) Advertisement (a) Petrol and Bus (b) Ink and Fountain pen
Ans. (b) [SSC SO Exam, 2003] (c) Sugar and Coffee (d) Wool and Cotton
67. When there is a change in demand leading to a shift of Ans. (b) [SSC Stenographer Sep. Exam, 2014]
the demand curve to the right at the same price as 75. A refrigerator operating in a chemist’s shop is an
before, the quantity demanded will– Example of–
(a) Decrease (b) Increase (a) Free good (b) Final good
(c) Remain the same (d) Contract (c) Producer’s good (d) Consumer’s good
Ans. (b) [SSC SO Exam, 2001] Ans. (b) [SSC CPO Exam, 2008]
68. Movement along the same demand curve is known as–
Production
(a) Extension and contraction of demand
(b) Increase and decrease of demand
1. Which among of the following is a factor of production.
(c) Contraction of supply
(a) Coal (b) Entrepreneur
(d) Increase of supply
(c) Energy (d) Industry
Ans (b) [SSC Multitasking Exam, 2014]
69. The income elasticity of demand being greater than one,
the commodity must be– 2. Which among of the following is necessary for demand.
(a) A necessity (b) A luxury (a) Production (b) Cost
(c) An inferior good (d) None of the above (c) Income (d) Import
Ans. (b) [SSC SO Exam, 2001] Ans (c) [SSC Metric Level Exam, 2008]
70. If the change in demand for a commodity is at a faster 3. According to the unit of measurement, internal return
rate than change in the price of the commodity, the is.
demand is– (a) A concept of long term production
(a) Perfectly inelastic (b) Elastic (b) A concept of seasonal production
(c) Perlectly elastic (d) Inelastic (c) A concept of short duration production
Ans. (c) [SSC MTS Exam, 2001] (d) None of the above
71. The demand for which of the following commodity will Ans. (a) [SSC Multitasking Exam, 2014]
not rise in spite of a fall in its price?
4. The Rate of internal return should be.
(a) Television (b) Refrigerator
(a) Less than interest rate
(c) Salt (d) Meat
(b) Its cost of production and profit equal.
(c) Decrease, when internal interact increase.
72. If the price of Pepsi decreases relative to the price of
(d) None of these
Coke and 7-Up, the demand for–
(a) Coke will decrease Ans. (b) [SSC 10+2 Exam, 2014]
(b) 7-Up will decrease 5. Increasing internal return means–

(a) Increasing cost
(c) Coke and 7-Up will increase
(b) Decreasing cost
(d) Coke and 7-Up will decrease (c) Increasing production
Ans. (d) [SSC MTS Exam, 2000] (d) Increasing income
73. Non-insurable or uncertainty risk is– Ans. (b) [SSC CGL Exam, 2014]
(a) Change in fashion 6. If the decreasing rate of interest increase in marginal
(b) Fire internal return, then total internal return.
(c) Flood (a) Increases (b) Decreases

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(c) Remains constant (d) Becomes zero 14. Collective consumption means.
Ans. (a) [SSC CGL Exam, 2014] (a) Household consumption
7. Third situation of law of variable proportion is– (b) Disposable consumption
(a) Negative return (c) Self consumption
(b) Positive return (d) Consumption by people of country
(c) Proportional return Ans. (a) [SSC 10+2 Exam, 2014]
(d) None of these 15. When the total product rises at an increasing rate, then
Ans. (a) [SSC 10+2 Exam,2013] the –
8. The excess of the price, person is to pay rather than (a) Marginal product is zero
forego the consumption of the commodity is called. (b) Marginal product is rising
(a) Price (b) Profit (c) Marginal product is falling
(c) Producer’s surplus (d) Consumer’s surplus (d) Marginal product remains constant
Ans. (c) [SSC CGL Exam, 2010] Ans. (b) [SSC Tax asst. Exam, 2007]
9. Production function means– 16. Which of the following is not true when the interest rate
(a) Relation between land & rent. in the economy goes up?
(b) Relation between initial input & ultimate output (a) Saving increases
(c) Relation between demand & supply (b) Lending increases
(d) Relation between output and export (c) Cost of production increases
Ans. (b) [SSC LDC Exam, 2005] (d) Return on capital increases
10. Production function shows– Ans. (d) [SSC CPO Exam, 2009]
(a) Relation between initial input & ultimate output 17. In Economics, Production means–
(b) Fiscal relation between initial input & ultimate output (a) Manufacturing (b) Making
(c) Relation between factors of production (c) Creating utility (d) Forming
(d) None of the above Ans. (c)
Ans. (a) [SSC Tax Asst. Exam, 2008] 18. The marginal propensity to consume lies between–
11. The Production function marks relation between. (a) 0 to 1 (b) 0 to oo
(a) Cost and production (c) 1 to oo (d) OO to oo
(b) Cost and internal input Ans. (a) [SSC (10+2) Exam, 2011]
(c) Internal input and production 19. The production function relates to–
(d) Wages and profit (a) Costs to outputs (b) Costs to inputs
Ans. (c) [SSC 10+2 Exam,2010] (c) Inputs to outputs (d) Wage level to profits
12. The Production function signifies. Ans. (c) [SSC (10+2) Exam, 2010]
(a) Economical relation 20. Economies of Scale means reduction in–
(b) Social relation (a) Unit cost of production
(c) Industrial relation (b) Unit cost of distribution
(d) Cost relation (c) Total cost of production
Ans. (c) [SSC Metric Level Exam, 2006] (d) Total cost of distribution
13. The Production function shows relation between – Ans. (a) [SSC Tax Asst. Exam, 2007]
(a) Primary input and ultimate output 21. Capital Output Ratio of a measures–
(a) Its per unit cost of production
(b) Investment and final consumption
(b) The amount of capital invested per unit of output
(c) Production and consumption
(c) The ratio of capital depreciation to quantity of output
(d) Production and export (d) the ratio of working capital employed to quantity of
Ans. (a) [SSC Tax Asst. Exam, 2009] output

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Ans. (b) [SSC CGL Exam, 2007] (c) Variable cost (d) Fined cost
22. The concept that under a system of free enterprise, it is Ans. (c) [S.S.C (CGL) Exam, 2015]
consumers who decide what goods and services shall be 3. Payment given to others by firms for using their goods
produced and in what quantities is known as– and services are called.
(a) Consumer protection
(a) Actual cost (b) Economic cost
(b) Consumer’s decision
(c) Explicit cost (d) Implicit cost
(c) Consumer preference
(d) Consumer’s sovereignty Ans. (c) [S.S.C Steno Exam, 2011]
Ans. (d) [SSC SO Exam, 2006] 4. The additional to total cost by producing an additional
unit of output by a firm is called.
23. In a business, raw materials, components, work-in-
progress and finished goods are jointly regarded as– (a) Average cost (b) Marginal Cost
(a) Capital stock (b) Inventory (c) Total Cost (d) Variable Cost
(c) Investment (d) Net worth Ans (b) [SSC 10+2 Exam, 2012]
Ans. (b) [SSC Tax Asst. Exam, 2005] 5. The non-expenditure costs which arise when producing
firm itself and supplies contain factors of production
24. ‘Marginal efficient of capital’ is– are.
(a) Expected rate of return on new investment (a) Explicit Cost (b) Original Cost
(b) Expected rate of return of existing investment (c) Implicit Cost (d) Replacement Cost
(c) Difference between rate of profit and rate of interest Ans. (c) [SSC 10+2 Exam, 2013]
(d) Value of output per unit of capital invested 6. For any product, there will be increment in balanced
Ans. (a) [SSC SO Exam, 2001] cost when.
25. It is prudent to determine the size of the output when (a) Demand is less than supply
the industry is operation in the stage of– (b) There is increase is both demand and supply
(a) Increasing returns (c) There is decrease in both demand and supply
(b) Constant returns (d) There is decrease in supply and increase is demand
(c) Diminishing returns Ans. (d) [SSC CPO Exam, 2015]
(d) Negative returns 7. For production minimum payment is called.

(a) Rent (b) Implicit cost
(c) Wages (d) Implicit cost
26. The four factors of production are–
Ans. (a) [SSC Multitasking Exam, 2014]
(a) Land, Labour, Capital, Organisation
8. Explicit + Implicit cost =
(b) Land, Electricity, Water, Labour (a) Economic cost (b) Social cost
(c) Labour, Capital, Land, Rainfall (c) Personal cost (d) Accounting cost
(d) Labour, Climate, Land, Tools Ans. (a) [SSC Steno Exam, 2012]
Ans. (a) [SSC MTS Exam, 2001] 9. In the long-run the fixed costs become–
cost (a) Money costs (b) Real costs
(c) Opportunity costs (d) Variable costs
Ans. (d) [SSC CGL July Exam, 2014]
1. “Extra cost” are those cost-
10. A firm practising price discrimination will be–
(a) Which are taken to give wages
(a) charging different prices for different qualities of a
(b) Which are taken to Lucy raw material product
(c) Which are taken for transportation (b) buying in the cheapest and selling in the dearest
markets
(d) Which are taken to Lucy machinery to fill
depreciation (c) charging different prices in different markets for a
product
Ans. (d) [S.S.C Matric level Exam, 2006 ]
(d) buying only from firms selling in bulk at a distance
2. Which cost has relation with lowest cost?
Ans. (c) [SSC CGL July Exam, 2014]
(a) Sunk cost (b) Opportunity cost
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11. Minimum payment of factor of production is called– 19. Opportunity cost of production of a commodity is–
(a) Quasi Rent (b) Rent (a) The cost that the firm could have incurred when a
(c) Wages (d) Transfer Payment different technique was adopted
Ans. (c) [SSC CGL April Exam, 2014] (b) The cost that the firm could have incurred under a
12. Marginal Cost equals– different method of production
(a) total cost divided by quantity (c) The actual cost incurred
(d) The next best alternative output
(b) the change in total cost divided by the change in
quantity Ans. (d) [SSC CPO Exam, 2009]
(c) total cost minus total benefit for the last unit produced 20. When Average Cost Production (ACP) falls, marginal
(d) total cost divided by total benefit for the last unit cost of production must be–
produced (a) Rising
Ans. (b) [SSC (10+2) Exam, 2013] (b) Falling
13. The expenses on advertising is called–
(c) Greater than the average cost
(a) Implicit cost (b) Surplus cost
(d) Less than the average cost
(c) Fixed cost (d) Selling cost
Ans. (d) [SSC Constable (6D) Exam, 2012]
21. When the total product rises at an increasing rate, the–
14. Which of the following cost curve is never ‘U’ shaped?
(a) marginal product is zero
(a) Marginal cost curve
(b) Average variable cost curve (b) marginal product is rising
(c) Average fixed cost curve (c) marginal product is falling
(d) Average cost curve (d) marginal product remains constant
Ans. (c) [SSC (10+2) Exam, 2012] Ans. (b) [SSC Tax Asst. Exam, 2007]
15. Those payments which the firms make to outsiders for 22. Prime cost is equal to–
their goods and services are called–
(a) variable cost plus administrative cost
(a) Real costs (b) Economic costs
(b) variable cost plus fixed costs
(c) Explicit costs (d) Implicit costs
Ans. (c) [SSC Stenographer Exam, 2011] (c) variable cost only
16. Cost of production of the producer is given by– (d) fixed cost only
(a) Sum of wages paid to labourers Ans. (a) [SSC SO Exam, 2006]
(b) Sum of wages and interest paid on capital 23. An expenditure that has been made and cannot be
(c) Sum of wages, interest, rent and supernormal profit recovered is called–
(d) Sum of wages, interest, rent and normal profit (a) Variable cost (b) Opportunity cost
Ans. (d) [SSC (10+2) Exam, 2011] (c) Sunk cost (d) Operational cost
17. Under perfect competition, the industry does not have Ans. (c) [SSC SO Exam, 2006]
any excess capacity because each firm produces at the
minimum point on its– 24. A firm is in equilibrium when its–
(a) long-run marginal cost curve (a) marginal cost equals the marginal revenue
(b) long-run average cost curve (b) total cost is minimum
(c) long-run average variable cost curve (c) total revenue is maximum
(d) long-run average revenue curve
(d) average revenue and marginal revenue are equal
Ans. (b) [SSC (10+2) Exam, 2010] Ans. (a) [SSC Tax Asst. Exam, 2006]
18. Surplus earned by a factor other than land in the short 25. Given the money wages, if the price level in an economy
period is referred to as–
increases, then the real wages will–
(a) Economic rent (b) Net rent (a) Increase (b) Decrease
(c) Quasi-rent (d) Super-normal rent
(c) Remain constant (d) Become flexible
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Ans. (b) [SSC Tax Asst. Exam, 2006] Ans. (d) [SSC MTS Exam, 2000]
26. What is selling cost? 34. Quasi rent is a......phenomenon.
(a) Cost incurred on transportation of commodities to (a) Medium (b) Long-term
market
(c) Short-term (d) No time
(b) Cost incurred on promoting the sale of the product
(c) Cost incurred on commission and salaries personnel
(d) Cost incurred on advertisement revenue
27. Marginal cost is the– 1. The marginal revenue of monopolist is –
(a) cost of producing a unit of output (a) More than price (b) Equal to price
(b) cost of producing an extra unit of output (c) Less than price (d) Less than marginal cost
(c) cost of producing the total output Ans. (c) [SSC 10+2 Exam,2010]
(d) cost of producing a given level of output 2. The ‘break-even’ point is where–
Ans. (b) [SSC MTS Exam, 2006] (a) Marginal revenue equals marginal cost
28. The fixed cost on such factors of production which are (b) Average revenue equals average cost
neither hired nor brought by the firm is called–
(c) Total revenue equals total cost
(a) Social cost (b) Opportunity cost
(c) Economic cost (d) Surcharged cost
Ans. (c) [SSC (10+2) Exam, 2011]
3. The marginal revenue of a monopolist is–
29. Transfer earning or alternative cost is otherwise known
(a) More than price (b) Equal to price
as–
(a) Variable cost (c) Less than price (d) Less than marginal cost
(b) Implicit cost Ans. (c) [SSC (10+2) Exam, 2010]
(c) Explicit cost 4. Average revenue means–
(d) Opportunity cost (Economic cost) (a) The revenue per unit of commodity sold
Ans. (d) [SSC SO Exam, 2003] (b) The revenue from all commodities sold
30. Economic rent refers to– (c) The profit realised from the marginal unit sold
(a) Payment made for the use of labour (d) The profit realised by sale of all commodities
(b) Payment made for the use of capital Ans. (a) [SSC CPO Exam, 2003]
(c) Payment made for the use of organisation utility

(d) Payment made for the use of land
Ans. (d) [SSC CPO Exam, 2003] 1. If for any product X, total utility from an units is 20 and
31. Total fixed cost curve is– from 10 unit is 15, then Marginal utility is–
(a) Vertical (b) Horizontal (a) –.5 (b) 5
(c) Positively sloping (d) Negatively sloping (c) .5 (d) -5
Ans. (b) [SSC MTS Exam, 2002] Ans. (d) [SSC 10+2 Exam,2015]
32. Which of the following are not fixed costs? 2. In economics, ‘Utility’ and ‘Usefulness’ words has.
(a) Rent on land (a) Same meaning (b) Different meaning
(b) Municipal taxes (c) Opposite meaning (d) None of the above
(c) Wages paid to workers
(d) Insurance charges
3. The Psychological law of consumption states that–
(a) Proportionate increase in consumption is less than
33. Fixed cost is known as– proportionate increase in income
(a) Special cost (b) Direct cost (b) Increase in income is equal to increase in consumption
(c) Prime cost (d) Overhead cost

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(c) Increase in consumption is greater than increase in 3. The Extreme forms of market are-
income (a) Perfect Competition, Monopolistic Competition
(d) Consumption does not change with a change in (b) Perfect Competition, Oligopoly
income
(c) Oligopoly, Monopoly
Ans. (a) [SSC (10+2) Nov. Exam, 2014]
(d) Perfect Competition, Monopoly.
4. In Economics the ‘Utility’ and ‘Usefulness’ have–
Ans. (d) [S.S.C (10+2) Exam, 2013]
(a) Same meaning (b) Different meaning
4. The New firms are not allowed in market with.
(c) Opposite meaning (d) None of the above
(a) Perfect competition
(b) Oligopoly
5. When marginal utility is zero, the total utility is–
(c) Monopolic competition
(a) Minimum (b) Increasing
(d) Monopoly.
(c) Maximum (d) Decreasing
5. Perfect Market situation will be situated when-
6. The marginal utility curve slopes downward from left to
right indicating– (a) When firms are independent
(a) a direct relationship between marginal utility and the (b) When large number of buyers & sellers are present
stock of commodity (c) When large number of sellers & less number of payers
(b) a constant relationship between marginal utility and are there
the stock of commodity (d) When less number of buyer are there.
(c) a proportionate relationship between marginal utility Ans. (b) [S.S.C Steno Exam, 2014]
and the stock of commodity
6. Under Perfect Competition who is Price Taker.
(d) an inverse relationship between marginal utility and
(a) Buyer (b) Business
the stock of commodity
(c) Government (d) Firm.
7. The term utility means–
7. “Exchange of Commodities” between two countries
(a) usefulness of a commodity
means.
(b) the satisfaction in which a commodity yields
(a) Trade surplus (b) Bilateral trade
(c) the service which a commodity is capable of rendering
(c) Trade result (d) Multi lateral trade
Ans. (b) [S.S.C CGL Exam, 2010]
8. The Selling cost is not included under–
market (a) Oligopoly
(b) Duopoly
1. Which is the best for any firm? (c) Perfect Competition
(a) Increase in profit (d) Monopolistic Competition
(b) Decrease in selling Ans. (c) [SSC CPO Exam, 2012]
(c) Market monopoly 9. ‘Hewala’ is–
(d) Decrease in production (a) Complete description of a subject
Ans. (d) [S.S.C (CPO) Exam, 2015] (b) Illegal trade of foreign currency
2. Bilateral Monopoly refers to the market situation of– (c) Tax reform
(a) Two sellers, Two buyers (d) Illegal trade of shares
(b) One seller, Two buyers Ans. (b) [SSC 10+2 Exam, 2015]
(c) Two sellers, One buyer 10. The Theory of “Monopolistic Competition” was given
(d) One seller, One buyer. by–
(a) John Robinson (b) Edward Chamberlin
(c) John Bates Clarke (d) Joseph Schumpeter
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Ans. (b) [SSC 10+2 Exam, 2010] Ans. (b) [SSC Investigator Exam, 2010]
11. Short – term government securities is called– 19. The degree of monopoly power is to be measured in
(a) Share (b) Debenture terms of the firm’s–
(a) Normal profit
(c) Mutual fund (d) Treasury bill
(b) Supernormal profit
(c) Both normal and supernormal profit
12. The Full form of FCCB is– (d) Selling price
(a) Foreign Currency Convertible bonds Ans. (d) [SSC (10+2) Exam, 2010]
(b) Foreign countries Convertible bonds 20. Under which market condition do firms have excess
(c) Foreign Companies convertible bond capacity?
(d) None of the above (a) Perfect competition
Ans. (a) [SSC CPO Exam, 2012] (b) Monopolistic competition
13. Which market forms allow free entry and exit of firms?
(c) Duopoly
(a) Perfect and Monopolistic
(d) Oligopoly
(b) Perfect and Oligopoly
(c) Oligopoly and Monopoly
21. The situation in which total revenues equals total, cost is
(d) Monopoly and Monopolistic known as–
Ans. (b) [SSC Stenographer Sep. Exam, 2014] (a) Monopolistic competition
14. The extreme forms of market are– (b) Equilibrium level of output
(a) Perfect Competition, Monopolistic (c) Break even point
(b) Perfect Competition, Monopoly Competition (d) Perfect competition
(c) Perfect Competition Oligopoly Ans. (c) [SSC (10+2) Exam, 2010]
(d) Oligopoly Monopoly 22. Perfect competition means–
Ans. (a) [SSC (10+2) Exam, 2013] (a) large number of buyers and less sellers
15. Tooth paste is a product sold under– (b) large number of buyers and sellers
(a) Monopolistic Competition (c) large number of sellers and less buyers
(b) Perfect Competition (d) None of the above
(c) Monopoly Ans. (b) [SSC CGL Exam, 2007]
(d) Duopoly 23. Who propounded the market law?
Ans. (a) [SSC FCI Exam, 2012] (a) Adam Smith (b) JB Say
16. Kinked demand curve is a feature of– (c) TR Malthus (d) David Recardo
(a) Monopoly (b) Oligopoly Ans. (b) [SSC MTS Exam, 2006]
(c) Monopsony (d) Duopoly 24. Monopoly means–
Ans. (b) [SSC (10+2) Exam, 2012] (a) Single buyer (b) Many sellers
17. In which market structure is the demand curve of the (c) Single seller (d) Many buyers
market represented by the demand curve of the firm?
(a) Monopoly (b) Oligopoly
25. One of the essential conditions of monopolistic
(c) Duopoly (d) Perfect Competition competition is–
Ans. (a) [SSC (10+2) 2011]
(a) Many buyers but one seller
18. The most distinguishing feature of oligopoly is–
(b) Price discrimination
(a) Number of firms
(c) Product differentiation
(b) Interdependence
(c) Negligible influence on price (d) Homogeneous product
(d) Price leadership Ans. (c) [SSC Tax Asst. Exam, 2005]

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26. Same price prevails throughout the market under–
(a) Perfect Competition
(b) Monopoly
(c) Monopolistic Competition
(d) Oligopoly
27. Different firms constituting the industry, produce
homogeneous goods under–
(a) Monopoly (b) Monopolistic Competition
(c) Oligopoly (d) Perfect Competition
28. A situation of large number of firms producing similar
goods is termed as–
(a) Perfect competition
(b) Monopolistic competition
(c) Pure competition
(d) Oligopoly
29. Under Perfect Competition–
(a) Marginal Revenue is less than the Average Revenue
(b) Average Revenue is less than the Marginal Revenue
(c) Average Revenue is equal to the Marginal Revenue
(d) Average Revenue is more than the Marginal Revenue
30. Say’s Law of market holds that–
(a) Supply is not equal to demand
(b) Supply creates its own demand
(c) Demand creates its own supply
(d) Supply is greater than demand
31. A specular who enters into a purchase transaction with
a view to sell in the near future when the price would
have risen is called a–
(a) Bear (b) Bull
(c) Bison (d) Boar
32. Which of the following is an Example of Monopoly-
(a) Spic (b) Indian railway
(c) H.M.T. (d) Hindustan Unilever Ltd.

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macro economics (b) Happens when business expands

(c) Monetary Economics (d) Work-leisure ratio

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Follos us:www.clickqualify.com General Studies

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(c) 8 (d) 1 Ans. (b) [SSC CPO Exam, 2007]

Ans. (b) [S.S.C Multitasking Exam, 2013] 16. A ‘Transfer Income’ is as –

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20. GDP at factor cost equals– (c) National Income - Population

(a) GDP – Indirect Tax + Subsidy (d) National Income x Population

(b) GNP – depreciation Ans. (a) [SSC FCI Exam, 2012]

(d) Earned income (a) Indirect tax

22. Income and consumption are– (c) Subsidy

(a) Inversely Related (b) Directly Related (d) Interest

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(a) Agriculture sector (b) Industrial sector (d) Provident Fund

(a) The value of intermediate consumption (c) IFCI (d) NABARD

(c) The value of the sales 4. IDBI was established on–

Ans. (c) [SSC MTS Exam, 2002] (b) Finance Commission

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Follos us:www.clickqualify.com 18) General Studies

Follos us:www.clickqualify.com (19) General Studies

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(c) Domestic Private Savings 5. "Barter – System" means–

(d) Additional Taxation (a) Exchange of goods with coins

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(d) All of the above (a) 2000 (b) 2001

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(c) India (d) Pakistan (a) exports exceed imports

(a) Export-Import Policy (d) following business units to close down

(b) Licencing Policy Ans. (d) [SSC SO Exam, 2006]

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inflation (c) Disinflation

(a) Cost – Push Inflation 16. Inflation is caused by–

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(c) Demand is very high (a) Zero (b) Positive

(d) Supply is equal to demand (c) Negative (d) Imaginary number

Ans. (d) Ans. (c) [SSC CPO Exam, 2009]

(c) Rice (d) Match boxes (c) Horizontally (d) Vertically

(a) Price of the commodity falls (a) Infinite (b) Positive

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(b) 7-Up will decrease 5. Increasing internal return means–

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(c) Relation between demand & supply (b) Lending increases

(d) None of the above Ans. (c)

11. The Production function marks relation between. (a) 0 to 1 (b) 0 to oo

(a) Cost and production (c) 1 to oo (d) OO to oo

(a) Economical relation 20. Economies of Scale means reduction in–

(b) Social relation (a) Unit cost of production

(c) Industrial relation (b) Unit cost of distribution