Economy Set 1 MCQs

Economy GK

Economy Set 1 MCQs

Practice Economy GK MCQs on basic economic concepts including economy, economics, microeconomics, macroeconomics, goods and services, demand and supply, factors of production, opportunity cost, economic activities, sectors of economy and other fundamental concepts frequently asked in SSC, Railway, Banking, UPSC, JKSSB, JKPSC, Police, Defence and other competitive examinations.

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Total Questions

Practice Questions

Page 68 of 111
Question #1341
The 'Red Revolution' in India is associated with:
A. sugarcane
B. rice
C. wheat
D. meat and tomato production
Discuss
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Correct Answer: Option D

Explanation:
The Red Revolution is associated with meat and tomato production.
This question belongs to: Economy GK Economy Set 1
Question #1342
The 'Pink Revolution' in India is associated with:
A. onion and pharmaceutical production
B. shrimp production
C. milk
D. wheat
Discuss
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Correct Answer: Option A

Explanation:
Pink Revolution is associated with onion and pharmaceutical production.
This question belongs to: Economy GK Economy Set 1
Question #1343
The 'Brown Revolution' in India is associated with:
A. fertilizer
B. food processing
C. coffee and cocoa
D. leather
Discuss
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Correct Answer: Option C

Explanation:
Brown Revolution is associated with coffee and cocoa production.
This question belongs to: Economy GK Economy Set 1
Question #1344
The 'Evergreen Revolution' in India was proposed by:
A. Norman Borlaug
B. M.S. Swaminathan
C. C. Subramaniam
D. Verghese Kurien
Discuss
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Correct Answer: Option B

Explanation:
M.S. Swaminathan proposed the Evergreen Revolution for sustainable agriculture.
This question belongs to: Economy GK Economy Set 1
Question #1345
The 'Green Revolution' in India was mainly introduced during the tenure of which Prime Minister?
A. Jawaharlal Nehru
B. Indira Gandhi
C. Morarji Desai
D. Lal Bahadur Shastri
Discuss
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Correct Answer: Option D

Explanation:
The Green Revolution was initiated during Lal Bahadur Shastri's tenure in the mid-1960s.
This question belongs to: Economy GK Economy Set 1
Question #1346
The 'Food Corporation of India' was established in which year?
A. 1975
B. 1956
C. 1970
D. 1965
Discuss
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Correct Answer: Option D

Explanation:
The Food Corporation of India was established in 1965.
This question belongs to: Economy GK Economy Set 1
Question #1347
The 'National Bank for Agriculture and Rural Development' was established in which year?
A. 1975
B. 1982
C. 1969
D. 1991
Discuss
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Correct Answer: Option B

Explanation:
NABARD was established in 1982.
This question belongs to: Economy GK Economy Set 1
Question #1348
The 'Small Industries Development Bank of India' was established in which year?
A. 1990
B. 1995
C. 2000
D. 1980
Discuss
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Correct Answer: Option A

Explanation:
SIDBI was established in 1990.
This question belongs to: Economy GK Economy Set 1
Question #1349
The 'Export-Import Bank of India' was established in which year?
A. 1982
B. 1995
C. 1980
D. 1990
Discuss
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Correct Answer: Option A

Explanation:
EXIM Bank was established in 1982.
This question belongs to: Economy GK Economy Set 1
Question #1350
The 'National Housing Bank' is a subsidiary of:
A. NABARD
B. SIDBI
C. Reserve Bank of India
D. SEBI
Discuss
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Correct Answer: Option C

Explanation:
The National Housing Bank is a wholly owned subsidiary of the RBI.
This question belongs to: Economy GK Economy Set 1
Question #1351
The 'SIDBI' is a wholly owned subsidiary of:
A. National Housing Bank
B. RBI
C. NABARD
D. EXIM Bank
Discuss
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Correct Answer: Option B

Explanation:
SIDBI is a wholly owned subsidiary of the RBI.
This question belongs to: Economy GK Economy Set 1
Question #1352
The 'NABARD' was established on the recommendation of which committee?
A. Narasimham Committee
B. Rangarajan Committee
C. Gadgil Committee
D. Sivaraman Committee
Discuss
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Correct Answer: Option D

Explanation:
NABARD was established on the recommendation of the Sivaraman Committee.
This question belongs to: Economy GK Economy Set 1
Question #1353
The 'Regional Rural Banks' were established in India in which year?
A. 1975
B. 1969
C. 1980
D. 1991
Discuss
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Correct Answer: Option A

Explanation:
Regional Rural Banks were established in 1975.
This question belongs to: Economy GK Economy Set 1
Question #1354
The 'State Bank of India' was created in 1955 by amalgamating which bank?
A. Bank of Bombay
B. Bank of Calcutta
C. Imperial Bank of India
D. Bank of Madras
Discuss
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Correct Answer: Option C

Explanation:
The State Bank of India was formed in 1955 by taking over the Imperial Bank of India.
This question belongs to: Economy GK Economy Set 1
Question #1355
The 'Imperial Bank of India' was created in 1921 by merging three presidency banks: Bank of Bengal, Bank of Bombay and:
A. Allahabad Bank
B. Punjab National Bank
C. Bank of Madras
D. Bank of Calcutta
Discuss
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Correct Answer: Option C

Explanation:
The Imperial Bank of India was formed by merging Bank of Bengal, Bank of Bombay and Bank of Madras.
This question belongs to: Economy GK Economy Set 1
Question #1356
The 'first bank in India' was:
A. Bank of Calcutta
B. Bank of Hindustan
C. State Bank of India
D. Punjab National Bank
Discuss
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Correct Answer: Option B

Explanation:
The Bank of Hindustan, established in 1770, is considered the first bank in India.
This question belongs to: Economy GK Economy Set 1
Question #1357
The 'Bank of Calcutta' was established in which year?
A. 1806
B. 1770
C. 1840
D. 1865
Discuss
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Correct Answer: Option A

Explanation:
The Bank of Calcutta, later Bank of Bengal, was established in 1806.
This question belongs to: Economy GK Economy Set 1
Question #1358
The 'Presidency Banks' were merged into the Imperial Bank of India in which year?
A. 1905
B. 1935
C. 1949
D. 1921
Discuss
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Correct Answer: Option D

Explanation:
The three presidency banks were merged into the Imperial Bank of India in 1921.
This question belongs to: Economy GK Economy Set 1
Question #1359
The 'State Bank of India' was nationalized in which year?
A. 1980
B. 1949
C. 1955
D. 1969
Discuss
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Correct Answer: Option C

Explanation:
The State Bank of India was nationalized in 1955.
This question belongs to: Economy GK Economy Set 1
Question #1360
The 'second phase of bank nationalization' in India took place in which year?
A. 1980
B. 1998
C. 1991
D. 1969
Discuss
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Correct Answer: Option A

Explanation:
Six more banks were nationalized in 1980.
This question belongs to: Economy GK Economy Set 1
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