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 79 of 111
Question #1561
The 'UJALA' scheme is related to:
A. distribution of LED bulbs
B. water connections
C. electricity connections
D. LPG connections
Discuss
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Correct Answer: Option A

Explanation:
UJALA distributes energy-efficient LED bulbs.
This question belongs to: Economy GK Economy Set 1
Question #1562
The 'Saubhagya' scheme is implemented by which ministry?
A. Ministry of Power
B. Ministry of Rural Development
C. Ministry of Petroleum
D. Ministry of Housing
Discuss
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Correct Answer: Option A

Explanation:
Saubhagya scheme is implemented by the Ministry of Power.
This question belongs to: Economy GK Economy Set 1
Question #1563
The 'Deen Dayal Upadhyaya Gram Jyoti Yojana' aims at:
A. rural electrification and feeder separation
B. LPG distribution
C. urban water supply
D. road construction
Discuss
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Correct Answer: Option A

Explanation:
DDUGJY aims at rural electrification and separation of agricultural and non-agricultural feeders.
This question belongs to: Economy GK Economy Set 1
Question #1564
The 'Integrated Power Development Scheme' focuses on:
A. strengthening urban power distribution network
B. rural roads
C. LPG distribution
D. water supply
Discuss
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Correct Answer: Option A

Explanation:
IPDS strengthens urban power distribution networks.
This question belongs to: Economy GK Economy Set 1
Question #1565
The 'UDAY' scheme was launched by the Ministry of:
A. Petroleum
B. Finance
C. Power
D. Rural Development
Discuss
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Correct Answer: Option C

Explanation:
UDAY was launched by the Ministry of Power for DISCOM financial turnaround.
This question belongs to: Economy GK Economy Set 1
Question #1566
The 'National Smart Grid Mission' aims to:
A. build roads
B. promote tourism
C. provide housing
D. modernize the power grid
Discuss
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Correct Answer: Option D

Explanation:
The National Smart Grid Mission aims to modernize the electricity grid.
This question belongs to: Economy GK Economy Set 1
Question #1567
The 'International Solar Alliance' is headquartered in:
A. Paris
B. Geneva
C. New York
D. Gurugram, India
Discuss
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Correct Answer: Option D

Explanation:
The International Solar Alliance is headquartered in Gurugram, India.
This question belongs to: Economy GK Economy Set 1
Question #1568
The 'National Hydrogen Mission' aims to promote:
A. green hydrogen production and use
B. nuclear energy
C. coal energy
D. biofuel only
Discuss
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Correct Answer: Option A

Explanation:
The National Hydrogen Mission promotes green hydrogen.
This question belongs to: Economy GK Economy Set 1
Question #1569
The 'Production Linked Incentive' scheme aims to:
A. increase imports
B. boost domestic manufacturing by linking incentives to incremental output
C. promote imports
D. reduce production
Discuss
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Correct Answer: Option B

Explanation:
PLI schemes provide incentives to boost domestic manufacturing.
This question belongs to: Economy GK Economy Set 1
Question #1570
The 'Production Linked Incentive' scheme was first introduced for which sector in 2020?
A. Food processing
B. Textiles
C. Mobile manufacturing and electronic components
D. Steel
Discuss
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Correct Answer: Option C

Explanation:
PLI was first introduced for mobile manufacturing and electronic components in 2020.
This question belongs to: Economy GK Economy Set 1
Question #1571
The 'National Industrial Corridor Development Programme' aims to:
A. develop industrial corridors and smart cities
B. expand railway passenger services
C. promote agriculture
D. build residential colonies
Discuss
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Correct Answer: Option A

Explanation:
National Industrial Corridor Development Programme develops industrial corridors and smart industrial cities.
This question belongs to: Economy GK Economy Set 1
Question #1572
The 'Delhi-Mumbai Industrial Corridor' is being developed with cooperation from:
A. Germany
B. Japan
C. France
D. USA
Discuss
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Correct Answer: Option B

Explanation:
The Delhi-Mumbai Industrial Corridor is being developed with Japanese cooperation.
This question belongs to: Economy GK Economy Set 1
Question #1573
The 'Atal Incubation Centre' scheme supports:
A. government departments
B. startups and entrepreneurs
C. large industries
D. foreign companies
Discuss
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Correct Answer: Option B

Explanation:
Atal Incubation Centres support startups and entrepreneurs.
This question belongs to: Economy GK Economy Set 1
Question #1574
The 'Startup India Seed Fund Scheme' provides:
A. loans to large companies
B. seed funding to startups
C. subsidies to farmers
D. pension to workers
Discuss
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Correct Answer: Option B

Explanation:
Startup India Seed Fund Scheme provides seed funding to startups.
This question belongs to: Economy GK Economy Set 1
Question #1575
The 'National Initiative for Developing and Harnessing Innovations' supports:
A. banking technology
B. agricultural research only
C. defence manufacturing only
D. innovation and entrepreneurship
Discuss
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Correct Answer: Option D

Explanation:
NIDHI supports innovation and entrepreneurship.
This question belongs to: Economy GK Economy Set 1
Question #1576
The 'Stand-Up India' scheme was launched in which year?
A. 2016
B. 2017
C. 2014
D. 2018
Discuss
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Correct Answer: Option A

Explanation:
Stand-Up India was launched in 2016.
This question belongs to: Economy GK Economy Set 1
Question #1577
The 'Startup India' action plan was launched in which year?
A. 2017
B. 2016
C. 2018
D. 2014
Discuss
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Correct Answer: Option B

Explanation:
Startup India was launched in January 2016.
This question belongs to: Economy GK Economy Set 1
Question #1578
The 'Make in India' initiative targets increasing the share of manufacturing in GDP to what percentage?
A. 40%
B. 30%
C. 15%
D. 25%
Discuss
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Correct Answer: Option D

Explanation:
Make in India aims to raise manufacturing's share of GDP to 25%.
This question belongs to: Economy GK Economy Set 1
Question #1579
The 'National Manufacturing Policy' was released in which year?
A. 2011
B. 2005
C. 2017
D. 2014
Discuss
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Correct Answer: Option A

Explanation:
The National Manufacturing Policy was released in 2011.
This question belongs to: Economy GK Economy Set 1
Question #1580
The 'National Manufacturing Policy' aims to create how many additional jobs?
A. 100 million
B. 500 million
C. 200 million
D. 50 million
Discuss
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Correct Answer: Option A

Explanation:
The National Manufacturing Policy aims to create 100 million additional jobs by 2022.
This question belongs to: Economy GK Economy Set 1
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