Economics Jkssb Economics Set 1 Mcqs (296 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 1 mcqs

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Practice Questions

296 Total
Question 121 Discuss
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167 According to Census of India 2011, which district in India has the lowest literacy rate in India?

A
Rampur
B
Madhubani
C
Alirajpur
D
Aizwal

Answer & Explanation

Correct Option: C

Alirajpur district in Madhya Pradesh recorded the lowest literacy rate in India at 36.1% during the 2011 Census.
Question 122 Discuss
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Which group of states was concentrated in the cotton production in the early years to develop textile industry?

A
West Bengal and Odisha
B
Bihar and West Bengal
C
Maharashtra and Gujarat
D
Punjab and Haryana

Answer & Explanation

Correct Option: C

Historically, the black soil regions of Maharashtra and Gujarat provided ideal geographical conditions for widespread cotton cultivation, fueling the early Indian textile industry.
Question 123 Discuss
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The Reserve Bank of India was fully nationalised and owned by the Government of India in which of the following years?

A
1949
B
1950
C
1947
D
1948

Answer & Explanation

Correct Option: A

Originally established as a private shareholders' bank in 1935, the Reserve Bank of India was nationalized on January 1, 1949, following the RBI (Transfer of Public Ownership) Act.
Question 124 Discuss
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According to the Census of India, who is considered a literate person?

A
Person aged eighteen and above, who can both read and write with understanding in any language
B
Person aged seven and above, who can both read and write with understanding in any language
C
Person aged five and above, who can both read and write with understanding in any language
D
Person aged fifteen and above, who can both read and write with understanding in any language

Answer & Explanation

Correct Option: B

The Census of India defines a literate person as anyone aged seven years and older who can read and write with understanding in any language.
Question 125 Discuss
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What happens in case of market equilibrium: ((A) Market demand = market supply ((B) There is no excess supply in the market

A
Neither ((A) nor (b)
B
Only (a)
C
Both (A) and (B)
D
Only (b)

Answer & Explanation

Correct Option: C

Market equilibrium occurs at the exact price where the quantity demanded by consumers equals the quantity supplied by producers, eliminating any excess supply or demand.
Question 126 Discuss
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Which of the following individuals was NOT associated with the Green Revolution in India?

A
MS Swaminathan
B
P Chidambaram
C
Norman Borlaug
D
Chidambaram Subramaniam

Answer & Explanation

Correct Option: B

While M.S. Swaminathan, Norman Borlaug, and C. Subramaniam were pivotal architects of the Green Revolution, P. Chidambaram is primarily known as a politician and former Finance Minister.
Question 127 Discuss
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What was the Child Sex Ratio in the country as per the Census of India 2011?

A
189
B
911
C
981
D
919

Answer & Explanation

Correct Option: D

The 2011 Census reported a Child Sex Ratio (0-6 years) of 919 females per 1,000 males in India, showing a concerning decline from previous decades.
Question 128 Discuss
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What is a revenue deficit in the government budget?

A
The excess of expenditure over revenue, excluding interest payments on debt
B
The excess of revenue over expenditure, including interest payments on debt
C
The excess of revenue over expenditure, excluding interest payments on debt
D
The excess of expenditure over revenue, including interest payments on debt

Answer & Explanation

Correct Option: D

A revenue deficit occurs when the government's total revenue expenditure, which includes routine expenses and interest payments on past debt, exceeds its total revenue receipts.
Question 129 Discuss
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Which state emerged as the best governed state in the large states category as per the Public Affairs Index 2020?

A
Tamil Nadu
B
Andhra Pradesh
C
Kerala
D
Uttar Pradesh

Answer & Explanation

Correct Option: C

According to the Public Affairs Index 2020 released by the Public Affairs Centre, Kerala was recognized as the best-governed large state in India.
Question 130 Discuss
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168 PC Mahalanobis is remembered as a major contributor of India's developmental path because he . (A)set up Indian Institutes of Management located in different parts of India (B)formulated the Second Five-Year Plan (C)was the first Minister of Statistics and Programme Implementation

A
Only (A) and ((C) are true
B
Only (A) and ((B) are true
C
Only (A) is true
D
Only (B) is true

Answer & Explanation

Correct Option: D

P.C. Mahalanobis was the chief architect of India's Second Five-Year Plan, which focused heavily on rapid industrialization and the development of the public sector.
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