Economics MCQ Questions and Answers

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Q131
At 2004-05 prices, the per-capita national income in India during 2009-10 was-
  • A Rs. 21005
  • B Rs. 33588
  • C Rs. 25241
  • D Rs. 20241
Answer: Option B
Q132
What is the main characteristic of a capitalist or free market economy ?
  • A Individuals are the owners of factors of production
  • B Profit is the main motive of carrying out various activities
  • C Consumer freedom
  • D All of the above
Answer: Option D
Q133
Which is not the characteristic of socialist or planned economy ?
  • A Government is the owner of resources
  • B Production decisions are determined by the government
  • C Profit motive
  • D None of the above
Answer: Option C
Q134
The main feature of mixed economy is-
  • A Combination of free market economy and centrally planned economy
  • B Production is carried out by private individuals and government
  • C Both of the above
  • D None of the above
Answer: Option C
Q135
What per cent of GDP at 2004-05 prices was contributed by agriculture and related sectors in 2009-10 ?
  • A 14•6%
  • B 17•6%
  • C 19•0%
  • D 19•8%
Answer: Option A
Q136
According to World Development Report 2010, Low income economies are those whose per-capita gross national income is-
  • A $ 975 or less than this
  • B Less than $ 10725
  • C Less than $ 3465
  • D None of the above
Answer: Option A
Q137
Which of the following country's economy is known as high income economy ?
  • A America
  • B U.K.
  • C Singapore
  • D All of the above
Answer: Option D
Q138
"An Enquiry into the Nature and Causes of Wealth of Nations" is the book of economist-
  • A Adam Smith
  • B Marshall
  • C Robbins
  • D None of above
Answer: Option A
Q139
"Economics is the Science of Wealth" who gave this definition ?
  • A J. K. Mehta
  • B Marshall
  • C Adam Smith
  • D Robbins
Answer: Option C
Q140
"Economics is what economists do." It has been supported by-
  • A Richard Jones
  • B Comte
  • C Gunnar Myrdal
  • D All of the above
Answer: Option D

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