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 161 Discuss
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Which of the following was a feature of the Indian economy before the British rule?

A
Prosperous economy
B
Self-reliant economy
C
Dependent economy
D
Independent economy

Answer & Explanation

Correct Option: D

Prior to British colonization, the Indian economy was largely characterized as an independent, self-reliant, and prosperous agrarian society with flourishing handicraft industries.
Question 162 Discuss
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at Market Price refers to the sum total of factor incomes earned by residents of a country during an accounting year including net indirect taxes.

A
Net Domestic Product (NDP)
B
Gross Domestic Product (GDP)
C
Gross National Product (GNP)
D
Net National Product (NNP)

Answer & Explanation

Correct Option: D

Net National Product (NNP) at Market Price accurately represents the total net value of all final goods and services produced by a nation's residents, inclusive of net indirect taxes.
Question 163 Discuss
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In 2000-01, NABARD instituted Micro Finance Development Fund with a corpus of .

A
₹245 crores
B
₹100 crores
C
₹150 crores
D
₹ 189 crores

Answer & Explanation

Correct Option: B

The Reserve Bank of India and NABARD created the Micro Finance Development Fund (MFDF) in 2000-01 with an initial corpus of ₹100 crores to scale up microfinance interventions.
Question 164 Discuss
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What is the literacy rate of India as per the National Survey of India-2022?

A
78.3%
B
74.2%
C
72.1%
D
77.7% 171

Answer & Explanation

Correct Option: D

Based on National Statistical Office (NSO) survey data published around 2022, India's overall literacy rate was estimated to be approximately 77.7%.
Question 165 Discuss
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Competitive behaviour and competitive market structure are related.

A
not
B
directly
C
inversely
D
proportionately

Answer & Explanation

Correct Option: C

They are inversely related because highly competitive market structures (like perfect competition) leave individual firms with no market power, thereby eliminating active competitive behavior like aggressive pricing strategies.
Question 166 Discuss
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According to Global Multidimensional poverty index (2022), On the basis of four indicators- nutrition, cooking fuel, sanitation and housing, how much poor people live in India?

A
24.4 million
B
54.4 million
C
44.4 million
D
34.4 million

Answer & Explanation

Correct Option: D

The 2022 report highlighted acute deprivations, noting that tens of millions remained multi-dimensionally poor when assessed specifically against simultaneous deprivations in nutrition, fuel, sanitation, and housing.
Question 167 Discuss
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According to the National Crime Records Bureau data, from 2016 to 2019, suicide cases due to unemployment have increased by .

A
21%
B
24%
C
18%
D
20%

Answer & Explanation

Correct Option: B

NCRB data indicated a distressing socio-economic trend, showing a 24% rise in suicides attributed to unemployment between the years 2016 and 2019.
Question 168 Discuss
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In the year 2021, the Department of Public Enterprises has now been made part of the Ministry, to speed up the privatisation process and exercise greater financial control over the state-run-enterprises.

A
Micro, Small and Medium Enterprises
B
Heavy Industries and Public Enterprises
C
Finance
D
Commerce and Industry

Answer & Explanation

Correct Option: C

In July 2021, the Government of India shifted the Department of Public Enterprises (DPE) into the Ministry of Finance to streamline disinvestment and better manage public sector assets.
Question 169 Discuss
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As per the Economic Survey 2022-23, the Labour Force Participation Rate for males has gone up to….. in 2020-21.

A
55.1%
B
59.3%
C
54.2%
D
57.5%

Answer & Explanation

Correct Option: D

The Economic Survey 2022-23 noted a recovery in employment indicators, with the male Labour Force Participation Rate (LFPR) rising to 57.5% in 2020-21.
Question 170 Discuss
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In 1955, noted the possibility of using small scale for promoting industries development.

A
Chakravarty Committee
B
Sarkaria Committee
C
Kelkar Committee
D
Karve Committee

Answer & Explanation

Correct Option: D

The Karve Committee, officially known as the Village and Small-Scale Industries Committee, was established in 1955 to recognize and promote the role of small-scale industries in rural development.
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