Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

The ___________ sector in a mixed economy decides 'what to produce and how much to produce' based on the overall national objectives.

  1. private

  2. public

  3. industrial

  4. agricultural
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
In a mixed economy, public sector resolves the problems of 'what to produce and how to produce?' keeping in mind the social welfare of the economy which includes overall economic growth and development, less input and factor prices for the availability of resources and generation of employment opportunities to eradicate poverty from the economy. 
Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

Administered price mechanism is also called __________.

  1. controlled price mechanism

  2. regulated price mechanism

  3. both A & B

  4. neither A nor B
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In a socialist economy, the price mechanism i.e. price affects the demand and supply of the commodities is directed by a centrally based planning authority that controls the price mechanism to certain limits and regulates it to protect civilians from fraudulent practices. 

Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

Under mixed economy, firms operating in both public and private sectors are left free to adjust their activities to the controlled market forces.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
In a mixed economy both private as well as public enterprises utilize the resources for the production of goods and services in  the economy for personal as well as social gains where government only audits the overall production to ensure adequate availability of goods and services in the economy whereas all the operation takes place with free market forces. 
Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

Which among the following influences the choice of method of production used by the public sector in a mixed economy? 

  1. Promotion of economic growth

  2. Input/Factor prices

  3. Generation of employment opportunities

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In a mixed economy, public sector resolves the problem of 'how to produce?' keeping in mind the social welfare of the economy which includes overall economic growth and development, less input and factor prices for the availability of resources and generation of employment opportunities to eradicate poverty from the economy. 

Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

It is not uncommon in a socialist economy that  ______________.

  1. private properly is abolished

  2. economic activities are guided by market forces

  3. there is absence of state intervention

  4. people acquire a motive for earning
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In a socialist economy, both private as well as government organisations utilize resources and distribute them for personal as well as social welfare. Society is given more importance as government handles all central problems of the economy. So usually in socialist economy, private property are abolished for social welfare and to bring in equality in the social and economic status of the people.

Multiple choice economics human capital formation in india introduction and features of unemployment quality of population problem of unemployment in india

Which of the following programmes is being implemented in all the districts of the country?

  1. Sarva Shiksha Abhiyan

  2. Navodaya Vidyalaya

  3. Ultra Mega Power Project

  4. Rajiv Gandhi Grameen Vidyutikaran Yojana
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Sarva shiksha abhiyan is an Indian government initiative of making free and compulsory education to children between the age of 6-14 years of age as a fundamental right. This program is implemented in all the districts of the country. 

Multiple choice economics human capital formation in india introduction and features of unemployment quality of population problem of unemployment in india

Sarvashiksha Abhiyan Programme was launched in____.

  1. 1999

  2. 2000

  3. 2001

  4. 2006
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Sarva shiksha abhiyan launched in the year $2001$ is an Indian government initiative of making free and compulsory education to children between the age of $ 6-14$ years of age as a fundamental right. 

This program is implemented in all the districts of the country. 

Multiple choice economics human capital formation in india introduction and features of unemployment quality of population problem of unemployment in india

The first fully literate district outside the Kerala State is__________.

  1. Wardhaman(West Bengal)

  2. Chingelpattu(Tamil Nadu)

  3. Nasik(Maharashtra)

  4. Merkata(Karnataka)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Literacy is the state of being able to read and write. After Kerala state the district that is first fully literate is a district in the state of west Bengal Vardhaman.

Multiple choice economics how does production take place? land land,labour, capital and entrepreneur production mechanism

High yielding variety seeds (HYV) were introduced to Indian farmers to bring about the ________.

  1. White Revolution

  2. Green Revolution

  3. Orange Revolution

  4. Red Revolution
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The introduction of high-yielding varieties of seeds led to the increase in production of foodgrains, thus improving agriculture in India.