We are providing the most important Indian Economics Previous year Questions for RRB NTPC 2019, RRB Group D 2019, SSC 2019 and all other competitive exams. These questions have very high chances to be asked in RRB NTPC 2019, RRB Group D 2019.
Set-3 Indian Economics Previous Year Questions
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1. ____________ is the relationship between the variable input and output, keeping all other inputs are held constant.
1. Total product
2. Average product
4. The Long Run
2.From which of the following, is the GDP of a country not derived from?
1. Agricultural sector
2. Industrial sector
3. International sector
4. Service sector
3. If at a price, market supply is greater than market demand, we say that there is ________ in the market at that price.
2. Excess Demand
3. Excess Supply
4. Marginal Revenue
4.In India the reform policies were first introduced in which year?
5.The demand for a inferior good increases with ________ in the consumer’s income.
6. Short run marginal cost curve cuts the short run average cost curve from _______ at the minimum point of short run average cost.
7.Which among the following is not a component of balance sheet?
1. Total issued capital
2. Cash held at the bank
3. Value of raw materials held
4. Revenue from sales of the company’s products
8. What is the full form of FDI?
1. Foreign Direct Input
2. Foreign Direct Investment
3. Fiscal Direct Investment
4. Fiscal Direct Input
9. In which situation, wages and prices chase each other at a very quick speed?
10.Banking comes under which of the following sector?
1. Primary sector
2. Secondary sector
3. Tertiary sector
4. Both Secondary and Tertiary sectors
11.Which of the following is a basic characteristic of ‘Oligopoly’?
1. Many sellers, many buyers
2. Few sellers, few buyers
3. Few sellers, many buyers
4. Many sellers, few buyers
12. What was the main objective of the 5th Five Year Plan?
1. Removal of poverty and achievement of self-reliance
2. Faster, more inclusive and sustainable growth
3. Inclusive growth
4. None of these
13. In Indian economy, the sectors are divided into Private and Public on what basis?
1. Ownership of enterprises
2. Usage of raw materials
3. Nature of economic activities
4. Employment policies
14. Which method is used to measure agricultural income in India?
1. Expenditure method
2. Output method
3. Commodity ﬂow method
4. Input method
15.Who estimated the National Income in India for the ﬁrst time?
1. Prof. P. C. Mahalanobis
2. Dr. V. K. R. V. Rao
3. Dadabhai Naoroji
4. M. G. Ranade
16.GDP -indirect taxes +subsidies = ______
1. NNP at factor cost
2. GDP at factor cost
4. Personal Income
17. Establishment of Chittaranjan Locomotive took place during which Five Year Plan?
18. What is the meaning of ‘Laissez Faire Policy’
1. Fair legislation
2. Control over trade
3. Withdrawal of ‘some restrictions’
4. None of these
19. Planned economy in India is based on which system?
1. Capitalist system
2. Traditional system
3. Command system
4. Socialist system
20. Planning Commission was constituted in India in which year?