Economics Jkssb Economics Set 2 Mcqs (342 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 2 mcqs

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Practice Questions

342 Total
Question 1 Discuss
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Which of the following banks is in charge of India's banking and monetary system?

A
Union Bank
B
RBI
C
BOB
D
SBI

Answer & Explanation

Correct Option: B

The Reserve Bank of India (RBI) is the central bank of India, established in 1935, and is responsible for regulating the country's banking system and formulating monetary policy.
Question 2 Discuss
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Which of the following states has the lowest literacy rate as per Census of India 2011?

A
Jharkhand
B
Bihar
C
Tamil Nadu
D
Odisha

Answer & Explanation

Correct Option: B

According to the 2011 Census of India, Bihar recorded the lowest overall literacy rate in the country at 61.80%.
Question 3 Discuss
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The adoption of the industrial policy of 1956 coincided with which Five-Year Plan?

A
4th Five-Year Plan
B
2nd Five-Year Plan
C
3rd Five-Year Plan
D
1st Five-Year Plan

Answer & Explanation

Correct Option: B

The Industrial Policy Resolution of 1956 formed the basis of the Second Five-Year Plan (1956-1961), which shifted India's economic focus toward rapid industrialization and the expansion of the public sector.
Question 4 Discuss
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Which of the following was true with regard to the Green Revolution?

A
Its method of cultivation required less quantity of water
B
It was targeted mainly at the pulses-growing areas
C
It involved use of high-yielding variety of seeds
D
It involved use of organic fertilisers and pesticides

Answer & Explanation

Correct Option: C

The Green Revolution primarily relied on the introduction of High-Yielding Variety (HYV) seeds, particularly for wheat and rice, alongside chemical fertilizers and extensive irrigation.
Question 5 Discuss
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With regard to the component of population density, which state is the odd one out of the following?

A
Tamil Nadu
B
Bihar
C
Arunachal Pradesh
D
Uttar Pradesh

Answer & Explanation

Correct Option: C

Arunachal Pradesh is the odd one out because it has the lowest population density in India (17 persons per sq km as per the 2011 census), whereas the other options are states with very high population densities.
Question 6 Discuss
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Which of the following events happened in 1950?

A
First Five-Year Plan was started
B
The Planning Commission was set up
C
First National Agricultural Policy was adopted
D
Industrial Policy Resolution was adopted

Answer & Explanation

Correct Option: B

The Planning Commission of India was established via a government resolution on March 15, 1950, to assess the country's resources and formulate its Five-Year Plans.
Question 7 Discuss
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Which of the following is a feature of globalisation?

A
Self-reliance
B
Restrictions on expansion of public sector
C
Liberalisation of import licensing
D
Disinvestment

Answer & Explanation

Correct Option: C

Globalisation involves integrating the domestic economy with the world economy, a process directly facilitated by removing trade barriers such as the liberalisation of import licensing.
Question 8 Discuss
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According to Census 2011, which of the following languages is spoken by the least population in India?

A
Sanskrit
B
Dogri
C
Assamese
D
Konkani

Answer & Explanation

Correct Option: A

According to the 2011 Census, Sanskrit had the fewest native speakers among India's scheduled languages, with only about 24,821 people declaring it as their mother tongue.
Question 9 Discuss
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At higher levels of development, which sector of the economy contributes less to the GDP?

A
Industrial sector
B
Service sector
C
Both service and agriculture sector
D
Agriculture sector

Answer & Explanation

Correct Option: D

As an economy undergoes structural development, the share of the agricultural sector in the GDP typically declines while the relative contributions of the industrial and service sectors increase.
Question 10 Discuss
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Which Union Territory has the lowest literacy rate, according to the Census of India 2011?

A
Dadra and Nagar Haveli
B
Delhi
C
Andaman and Nicobar Islands
D
Lakshadweep

Answer & Explanation

Correct Option: A

In the 2011 Census, the Union Territory of Dadra and Nagar Haveli recorded the lowest literacy rate among all UTs, standing at 76.24%.
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