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 80 of 111
Question #1581
The 'National Investment and Manufacturing Zones' are part of which policy?
A. National Manufacturing Policy
B. Startup India
C. Skill India
D. Digital India
Discuss
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Correct Answer: Option A

Explanation:
National Investment and Manufacturing Zones are part of the National Manufacturing Policy.
This question belongs to: Economy GK Economy Set 1
Question #1582
The 'Ease of Doing Business' in India is measured by which index?
A. Global Competitiveness Index
B. World Bank's Ease of Doing Business Index
C. Logistics Performance Index
D. Human Development Index
Discuss
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Correct Answer: Option B

Explanation:
Ease of Doing Business is measured by the World Bank's index.
This question belongs to: Economy GK Economy Set 1
Question #1583
The 'National Single Window System' in India is intended to:
A. facilitate imports only
B. provide a single digital portal for business approvals
C. collect taxes
D. regulate banks
Discuss
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Correct Answer: Option B

Explanation:
The National Single Window System provides a single portal for business approvals and clearances.
This question belongs to: Economy GK Economy Set 1
Question #1584
The 'Investment Facilitation Cell' under Invest India assists:
A. investors in obtaining approvals
B. domestic farmers
C. stock brokers
D. pensioners
Discuss
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Correct Answer: Option A

Explanation:
Invest India's Investment Facilitation Cell helps investors with approvals and clearances.
This question belongs to: Economy GK Economy Set 1
Question #1585
The 'Atal New India Challenge' is an initiative of:
A. Atal Innovation Mission, NITI Aayog
B. SEBI
C. Ministry of Finance
D. Ministry of Defence
Discuss
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Correct Answer: Option A

Explanation:
Atal New India Challenge is an initiative of Atal Innovation Mission under NITI Aayog.
This question belongs to: Economy GK Economy Set 1
Question #1586
The 'MUDRA' loans are extended to:
A. micro and small enterprises
B. large industries
C. state governments
D. multinational corporations
Discuss
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Correct Answer: Option A

Explanation:
MUDRA provides loans to micro and small enterprises.
This question belongs to: Economy GK Economy Set 1
Question #1587
The 'MUDRA' Yojana was launched in which year?
A. 2015
B. 2017
C. 2016
D. 2013
Discuss
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Correct Answer: Option A

Explanation:
Pradhan Mantri Mudra Yojana was launched in 2015.
This question belongs to: Economy GK Economy Set 1
Question #1588
The 'MUDRA' loan category 'Tarun' covers loans from:
A. above Rs 10 lakh
B. Rs 1 lakh to Rs 5 lakh
C. Rs 5 lakh to Rs 10 lakh
D. up to Rs 50,000
Discuss
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Correct Answer: Option C

Explanation:
MUDRA categories are Shishu up to Rs 50,000, Kishor Rs 50,000 to Rs 5 lakh, Tarun Rs 5 lakh to Rs 10 lakh.
This question belongs to: Economy GK Economy Set 1
Question #1589
The 'Stand-Up India' scheme provides loans from Rs 10 lakh to:
A. Rs 10 crore
B. Rs 5 crore
C. Rs 50 lakh
D. Rs 1 crore
Discuss
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Correct Answer: Option D

Explanation:
Stand-Up India provides loans from Rs 10 lakh to Rs 1 crore.
This question belongs to: Economy GK Economy Set 1
Question #1590
The 'Credit Linked Capital Subsidy Scheme' for MSMEs provides subsidy on:
A. wage payments
B. interest payments
C. capital investment for technology upgradation
D. raw material purchases
Discuss
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Correct Answer: Option C

Explanation:
CLCSS provides capital subsidy for technology upgradation by MSMEs.
This question belongs to: Economy GK Economy Set 1
Question #1591
The 'Trade Receivables Discounting System' platform helps MSMEs by:
A. discounting their receivables from corporate buyers
B. providing land
C. providing direct subsidies
D. insuring their factories
Discuss
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Correct Answer: Option A

Explanation:
TReDS helps MSMEs obtain working capital by discounting their receivables.
This question belongs to: Economy GK Economy Set 1
Question #1592
The 'ZED certification' for MSMEs relates to:
A. zero defect and zero effect manufacturing
B. zero export duty
C. zero energy devices
D. zero interest loans
Discuss
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Correct Answer: Option A

Explanation:
ZED certification relates to Zero Defect Zero Effect manufacturing in MSMEs.
This question belongs to: Economy GK Economy Set 1
Question #1593
The 'National Industrial Classification' is used in India for:
A. stock trading
B. classifying economic activities
C. population census
D. tax collection
Discuss
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Correct Answer: Option B

Explanation:
NIC classifies economic activities for statistical purposes.
This question belongs to: Economy GK Economy Set 1
Question #1594
The 'Index of Industrial Production' is released by:
A. RBI
B. Ministry of Statistics and Programme Implementation
C. Ministry of Finance
D. NITI Aayog
Discuss
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Correct Answer: Option B

Explanation:
IIP is released by the Ministry of Statistics and Programme Implementation.
This question belongs to: Economy GK Economy Set 1
Question #1595
The 'Index of Industrial Production' uses which base year currently?
A. 2004-05
B. 2015-16
C. 2019-20
D. 2011-12
Discuss
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Correct Answer: Option D

Explanation:
IIP uses base year 2011-12.
This question belongs to: Economy GK Economy Set 1
Question #1596
The 'Purchasing Managers' Index' for India is compiled by:
A. NSO
B. S&P Global and other agencies
C. RBI
D. SEBI
Discuss
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Correct Answer: Option B

Explanation:
India's PMI is compiled by S&P Global and other agencies.
This question belongs to: Economy GK Economy Set 1
Question #1597
The 'Index of Eight Core Industries' is released by:
A. Ministry of Commerce and Industry
B. NITI Aayog
C. RBI
D. Ministry of Finance
Discuss
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Correct Answer: Option A

Explanation:
The Index of Eight Core Industries is released by the Ministry of Commerce and Industry.
This question belongs to: Economy GK Economy Set 1
Question #1598
The 'International Monetary Fund' lending to a country under a Stand-By Arrangement is usually for:
A. climate finance
B. military support
C. long-term development projects
D. short-term balance of payments support
Discuss
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Correct Answer: Option D

Explanation:
IMF Stand-By Arrangements provide short-term balance of payments support.
This question belongs to: Economy GK Economy Set 1
Question #1599
The 'International Monetary Fund' Extended Fund Facility provides:
A. grants to all countries
B. short-term loans
C. medium-term support for structural balance of payments problems
D. only technical assistance
Discuss
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Correct Answer: Option C

Explanation:
The Extended Fund Facility provides medium-term support for countries with structural BoP problems.
This question belongs to: Economy GK Economy Set 1
Question #1600
The 'International Monetary Fund' Poverty Reduction and Growth Trust provides:
A. military aid
B. trade subsidies
C. loans to developed countries
D. concessional lending to low-income countries
Discuss
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Correct Answer: Option D

Explanation:
PRGT provides concessional lending to low-income countries.
This question belongs to: Economy GK Economy Set 1
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