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 191 Discuss
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According to Economic Survey 2023-24, which of the following states is the largest wheat producing state of India?

A
Bihar
B
Uttar Pradesh
C
West Bengal
D
Assam

Answer & Explanation

Correct Option: B

Uttar Pradesh consistently ranks as the largest wheat-producing state in India due to its vast fertile plains and extensive irrigation networks.
Question 192 Discuss
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In Union Budget 2023, a sub-scheme of which of the following Yojanas has been proposed with the investment of ₹6,000 crore to enable activities of fishermen, fish vendors and micro and small enterprises?

A
PM Matsya Sampada Yojana
B
PM Fasal Bima Yojana
C
PM Mudra Yojana
D
PM Ujjwala Yojana

Answer & Explanation

Correct Option: A

The 2023 Union Budget announced a targeted sub-scheme under the PM Matsya Sampada Yojana to specifically support fish vendors, fishermen, and micro-enterprises in the fisheries sector.
Question 193 Discuss
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Which of the following is an example of a private sector Industry?

A
Steel Authority of India Limited
B
Bharat Heavy Electricals Limited
C
Tata Iron and Steel Company
D
Life Insurance Corporation

Answer & Explanation

Correct Option: C

Tata Iron and Steel Company (TISCO, now Tata Steel) is a major private sector enterprise, unlike SAIL, BHEL, and LIC which are public sector undertakings owned by the government.
Question 194 Discuss
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According to National Multidimensional Poverty Index 2023 (A Progress Review), which state has the highest proportion of multidimensionally poor people (Headcount Ratio)?

A
Odisha
B
Jharkhand
C
Bihar
D
Rajasthan

Answer & Explanation

Correct Option: C

The NITI Aayog's 2023 MPI report identified Bihar as the state with the highest headcount ratio of multidimensional poverty in India, despite showing significant reduction trends.
Question 195 Discuss
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Air and National Defence are examples of which of the following goods?

A
Private goods
B
Common goods
C
Public goods
D
Club goods

Answer & Explanation

Correct Option: C

Public goods are characterized by being non-excludable and non-rivalrous, meaning one person's use does not diminish availability for others and no one can be prevented from using them.
Question 196 Discuss
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How many central banks can a country have?

A
Four
B
One
C
Three
D
Two

Answer & Explanation

Correct Option: B

A country typically has only one central bank, such as the Reserve Bank of India (RBI), to exercise monopoly control over currency issuance and national monetary policy.
Question 197 Discuss
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According to the Ministry of Agriculture and Farmers Welfare 2022-23, which state of India is the largest producer of sugarcane?

A
Andhra Pradesh
B
Karnataka
C
Uttar Pradesh
D
Bihar

Answer & Explanation

Correct Option: C

Uttar Pradesh leads India in sugarcane production, benefiting from a suitable subtropical climate and the presence of numerous sugar mills.
Question 198 Discuss
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Which of the following is NOT a private sector industry in India?

A
Dabur Industries
B
Bharat Heavy Electricals Limited (BHEL)
C
Bajaj Auto Ltd.
D
Tata Iron and Steel Company (TISCO)

Answer & Explanation

Correct Option: B

BHEL is a central public sector enterprise (Maharatna) owned and administered by the Government of India, making it a public, not private, sector industry.
Question 199 Discuss
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The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) was launched by which Ministry of Government of India in the year 2016?

A
Ministry of Rural Development
B
Ministry of Labour and Employment
C
Ministry of Finance
D
Ministry of Housing and Urban Affairs

Answer & Explanation

Correct Option: B

The Ministry of Labour and Employment launched PMRPY to incentivize employers to generate new employment by paying their full contribution towards the Employees' Pension Scheme.
Question 200 Discuss
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Which of the following best describes a budget deficit?

A
Government revenue exceeds government spending
B
Government spending exceeds government revenue
C
The government is saving for future projects
D
The government is not allocating enough funds for public services

Answer & Explanation

Correct Option: B

A budget deficit occurs when a government's total expenditures exceed its total revenues during a specific financial period.
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