Indian EconomyOnline Test
Economics an Introduction
Economics an Introduction - Indian Economy
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Question 1 |
What is the first occupation known by men?
Agriculture |
Question 2 |
What is called as agriculture?
The basic needs of man are food, clothing and shelter. The food we eat like wheat, rice etc are cultivated in the land. The farmers cultivate food grains. This is termed as agriculture. |
Question 3 |
What is national income?
Agriculturist, laborers and employees help to improve the economy of the country. This is called as national income. |
Question 4 |
What is per capita income?
Income earned by individual is called as per capita income. |
Question 5 |
What is distribution?
The facilities like food, cloth and house given by government is called distribution. |
Question 6 |
What are the basic divisions of economics?
Production, Consumption and Distribution. |
Question 7 |
What is the place where buying and selling of goods happen?
Market |
Question 8 |
What is term given when people purchase commodities from the market to satisfy their requirements?
Consumption |
Question 9 |
What is trade?
The buying and selling of commodities is termed as trade. |
Question 10 |
Who are called as traders?
People who buy and sell things are called as traders. |
Question 11 |
Who are wholesale merchant?
People who buy and sell large quality of commodities is called wholesale merchant. |
Question 12 |
Who are retailers?
People who buy and sell in small quantities are called as retailers. | |
People who buy and sell large quality of commodities is called wholesale merchant. |
Question 13 |
What is called as economic development?
As the demand increase there is increase in the production, consumption and distribution. This is called as economic development. |
Question 14 |
Who has received Nobel Prize for Economics from India?
Amarthya Sen |
Question 15 |
When does price for commodity increase?
When there is deficit for commodities there is rise in price. |
Question 16 |
When does price for commodity decreases?
When there is surplus in commodity there is decrease of price. |
Question 17 |
The farmers cultivate food grains in the ................ .
sea | |
river | |
land | |
terrace |
Question 18 |
If we save ............... it is good for the country also.
food crops | |
cash crops | |
food grains | |
money |
Question 19 |
Receiving of basic requirements is called .................... .
collection | |
distribution | |
communication | |
production |
Question 20 |
........................ means buying and selling of goods.
Sales | |
Retailing | |
Trade | |
Export |
Question 21 |
People without income receive their requirements through .................. .
production | |
consumption | |
distribution | |
development |
Question 22 |
People are helped by the .................. .
government | |
economists | |
businessmen | |
countries |
Question 23 |
Number of basic divisions in Economics.
One | |
Two | |
Three | |
Four |
Question 24 |
When there is surplus of commodities the price level ....................... .
rises | |
falls | |
remains stable | |
changes |
Question 25 |
When there is surplus of commodities there is a ........................ in price.
fall | |
rises | |
remains stable | |
changes |
Question 26 |
When there is deficit of commodities in the market there is a .................. in price
fall | |
rise | |
remains stable | |
changes |
Question 27 |
If the father in a family earns 5,000 per month his individual income is ..........
60000 | |
70000 | |
55000 | |
50000 |
Question 28 |
Match the following
- Economy of the country (a) Trades
- People who buy and sell goods (b) Knowledge of Economics is necessary
- To attain self-sufficiency (c) Basic needs
- Food, clothing and shelter (d) National Income
1 4 2 3 | |
2 3 4 1 | |
4 1 3 2 | |
3 4 1 2 |
Question 29 |
Match the following
- Market (a) Fall in price
- Agriculture (b) Economic knowledge
- Surplus of commodities (c) National income
- Annual budget (d) First occupation of man
- Improvement of Economy (e) Place of buying and selling goods
1 4 2 5 3 | |
2 3 4 1 5 | |
5 4 1 3 2 | |
3 4 5 2 1 |
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There are 29 questions to complete.