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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Practice Questions

Page 72 of 111
Question #1421
The 'National Solar Mission' in India is part of:
A. Digital India
B. Make in India
C. National Action Plan on Climate Change
D. Skill India
Discuss
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Correct Answer: Option C

Explanation:
The National Solar Mission is one of the eight missions under the National Action Plan on Climate Change.
This question belongs to: Economy GK Economy Set 1
Question #1422
The 'National Green Tribunal' was established in which year?
A. 2015
B. 2010
C. 2012
D. 2008
Discuss
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Correct Answer: Option B

Explanation:
The National Green Tribunal was established in 2010.
This question belongs to: Economy GK Economy Set 1
Question #1423
The 'Biological Diversity Act' was enacted in which year?
A. 2000
B. 2010
C. 2006
D. 2002
Discuss
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Correct Answer: Option D

Explanation:
The Biological Diversity Act was enacted in 2002.
This question belongs to: Economy GK Economy Set 1
Question #1424
The 'Environment Protection Act' was enacted in which year?
A. 1980
B. 1997
C. 1986
D. 1991
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Correct Answer: Option C

Explanation:
The Environment Protection Act was enacted in 1986.
This question belongs to: Economy GK Economy Set 1
Question #1425
The 'Forest Conservation Act' was enacted in which year?
A. 1980
B. 1972
C. 2002
D. 1986
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Correct Answer: Option A

Explanation:
The Forest Conservation Act was enacted in 1980.
This question belongs to: Economy GK Economy Set 1
Question #1426
The 'Wildlife Protection Act' was enacted in which year?
A. 1986
B. 1980
C. 1972
D. 1968
Discuss
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Correct Answer: Option C

Explanation:
The Wildlife Protection Act was enacted in 1972.
This question belongs to: Economy GK Economy Set 1
Question #1427
The 'Sustainable Development Goals' were adopted by the United Nations in which year?
A. 2020
B. 2000
C. 2016
D. 2015
Discuss
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Correct Answer: Option D

Explanation:
The Sustainable Development Goals were adopted in 2015.
This question belongs to: Economy GK Economy Set 1
Question #1428
The 'Sustainable Development Goals' consist of how many goals?
A. 17
B. 21
C. 30
D. 8
Discuss
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Correct Answer: Option A

Explanation:
The SDGs consist of 17 goals.
This question belongs to: Economy GK Economy Set 1
Question #1429
The 'Millennium Development Goals' were replaced by which framework?
A. Sendai Framework
B. Paris Agreement
C. Kyoto Protocol
D. Sustainable Development Goals
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Correct Answer: Option D

Explanation:
The SDGs replaced the Millennium Development Goals in 2016.
This question belongs to: Economy GK Economy Set 1
Question #1430
The 'Paris Agreement' on climate change was adopted in which year?
A. 2015
B. 2018
C. 2016
D. 2012
Discuss
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Correct Answer: Option A

Explanation:
The Paris Agreement was adopted in 2015.
This question belongs to: Economy GK Economy Set 1
Question #1431
The 'Paris Agreement' aims to limit global temperature rise this century to well below:
A. 3°C
B. 1°C
C. 2°C above pre-industrial levels
D. 4°C
Discuss
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Correct Answer: Option C

Explanation:
The Paris Agreement aims to limit warming to well below 2°C, preferably 1.5°C.
This question belongs to: Economy GK Economy Set 1
Question #1432
The 'Nationally Determined Contributions' under the Paris Agreement are:
A. financial penalties
B. voluntary climate action commitments by each country
C. trade restrictions
D. binding emission targets for all countries
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Correct Answer: Option B

Explanation:
NDCs are voluntary national climate action pledges under the Paris Agreement.
This question belongs to: Economy GK Economy Set 1
Question #1433
The 'Green Climate Fund' provides finance for:
A. climate change mitigation and adaptation in developing countries
B. stock markets
C. defence
D. space research
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Correct Answer: Option A

Explanation:
The Green Climate Fund finances climate mitigation and adaptation projects in developing countries.
This question belongs to: Economy GK Economy Set 1
Question #1434
The 'Kyoto Protocol' was adopted in which year?
A. 1992
B. 2001
C. 1997
D. 2005
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Correct Answer: Option C

Explanation:
The Kyoto Protocol was adopted in 1997.
This question belongs to: Economy GK Economy Set 1
Question #1435
The 'Kyoto Protocol' came into force in which year?
A. 1997
B. 2005
C. 2012
D. 2008
Discuss
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Correct Answer: Option B

Explanation:
The Kyoto Protocol entered into force in 2005.
This question belongs to: Economy GK Economy Set 1
Question #1436
The 'Clean Development Mechanism' under the Kyoto Protocol allows developed countries to:
A. increase emissions
B. tax developing countries
C. avoid all climate action
D. earn emission reduction credits by investing in projects in developing countries
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Correct Answer: Option D

Explanation:
CDM allows developed countries to earn Certified Emission Reductions by financing emission reduction projects in developing countries.
This question belongs to: Economy GK Economy Set 1
Question #1437
The 'Emission Trading System' is a market-based approach to control pollution by:
A. subsidizing polluters
B. taxing all production
C. banning all emissions
D. creating tradable emission permits
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Correct Answer: Option D

Explanation:
Emission trading creates a market for tradable emission allowances, limiting total emissions.
This question belongs to: Economy GK Economy Set 1
Question #1438
The 'Carbon Credit' refers to a permit allowing the holder to emit:
A. one tonne of carbon dioxide or equivalent
B. unlimited carbon
C. one million tonnes of carbon
D. one kg of carbon
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Correct Answer: Option A

Explanation:
A carbon credit typically allows one tonne of carbon dioxide equivalent emissions.
This question belongs to: Economy GK Economy Set 1
Question #1439
The 'Gross Domestic Product' of India is estimated by which method?
A. Only income method
B. Only production method
C. Only expenditure method
D. Output/value added and expenditure methods
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Correct Answer: Option D

Explanation:
India's GDP is estimated using the output/value added and expenditure approaches.
This question belongs to: Economy GK Economy Set 1
Question #1440
The 'GDP at constant prices' in India uses which base year?
A. 2015-16
B. 2011-12
C. 2004-05
D. 2019-20
Discuss
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Correct Answer: Option B

Explanation:
India's GDP constant price series currently uses base year 2011-12.
This question belongs to: Economy GK Economy Set 1
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