The 'Economic Survey' is usually authored by: MCQ with Answer and Explanation

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The 'Economic Survey' is usually authored by:

A. NITI Aayog

B. SEBI

C. Chief Economic Adviser's team in the Ministry of Finance

D. RBI

Answer: Option C

Solution (By JKSSB Mock Tests)

The Economic Survey is prepared by the Chief Economic Adviser's team.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Say's law of markets states that:

A. supply creates its own demand

B. saving is always equal to investment

C. demand creates its own supply

D. government must manage demand

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Correct Answer: Option A

Explanation:
Say's law states that supply creates its own demand.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of cost, the relationship between Average Cost (AC) and Marginal Cost (MC) is:

A. When MC > AC, AC is falling

B. MC is always greater than AC

C. When MC = AC, AC is minimum

D. When MC < AC, AC is rising

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Correct Answer: Option C

Explanation:
When Marginal Cost equals Average Cost, Average Cost is at its minimum. If MC is below AC, AC falls; if MC is above AC, AC rises.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Food Processing Industries' in India are classified as which sector?

A. Tertiary

B. Primary

C. Secondary

D. Quaternary

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Correct Answer: Option C

Explanation:
Food processing is a secondary sector manufacturing activity.

This question belongs to: Economy GK Economy Set 1

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