Economics (Part – XVII)

Total Questions: 21

1. What is the average calorie requirement for rural areas in India? [S.S.C. Online C.G.L. (T-I) 8.08.2017 (Shift-I)]

(a) 2100
(b) 2200
(c) 2300
(d) 2400

Correct Answer: (d) 2400

Solution:In India, the average calorie requirement for rural areas is 2400, while for urban areas it is 2100 calories. At present, poverty is measured on the basis of monthly household consumption expenditure.

2. Which of the following is a characteristic of human wants in terms of economics? [S.S.C. Online CGL (T-I) 20.08.2021 (Shift-II)]

(a) Wants are satiable.
(b) Wants are limited.
(c) Wants are not competitive.
(d) Wants do not become habits.

Correct Answer: (a) Wants are satiable.

Solution:Human wants are unlimited; There is no limit to man's wants so any particular want is satiable. Want is often thought of as a physiologically desire which makes life just a little more enjoyable, but which is not physiological necessary to life. You need oxygen, but you want a hot fudge sundae. Satisfaction is achieved by fulfilling wants.

3. What do you call the amount of monetary or other returns, either earned or unearned. accruing over a period of time? [S.S.C. Online CGL (T-I) 17.08.2021 (Shift-I)]

(a) Income
(b) Services
(c) Price
(d) Values

Correct Answer: (a) Income

Solution:The amount of monetary or other returns, either earned or unearned, occurring over a period of time is known as income.

4. An area which supports the economy and export trade of a sea port is called its ________. [S.S.C. Online MTS (T-I) 3.10.2017 (Shift-II)]

(a) Trade land
(b) Export land
(c) Import land
(d) Hinter land

Correct Answer: (d) Hinter land

Solution:An area that supports the economy and export trade of a sea port is called its hinterland.

5. In March 2019, Hyundai Motor Company and Kia Motors Corporation agreed to invest _________ in the cab aggregator Ola. [S.S.C. Online MTS (T-I) 20.08.2019 (Shift-III)]

(a) US$ 150 million
(b) US$ 300 million
(c) US$ 100 million
(d) US$ 200 million

Correct Answer: (b) US$ 300 million

Solution:In March 2019, Hyundai Motor Company and Kia Motors Corporation decided to invest an amount of US$ 300 million in the cab aggregator platform Ola.

6. "Yojana" magazine is being published by which of the following? [S.S.C. Online Stenographer, 13.09.2017 (Shift-I)]

(a) Planning Commission
(b) National Development Council
(c) Directorate of Advertising and Visual Publicity
(d) Ministry of Information and Broadcasting

Correct Answer: (d) Ministry of Information and Broadcasting

Solution:Yojana is a monthly journal which is published by the Ministry of Information and Broadcasting. It is devoted to socio-economic issues and is published in 13 languages. Its publication first started in 1957, with Mr. Khushwant Singh being the Chief Editor.

7. Which of the following is NOT a trade barrier? [S.S.C. Online Constable GD 12.02.2019 (Shift-III)]

(a) Tariff Barriers
(b) Embargo
(c) Export Security
(d) Subsidies

Correct Answer: (c) Export Security

Solution:Tariff barriers, Embargoes, and Subsidies are included in the trade barrier, whereas Export Security is not a trade barrier.

8. 'Double coincidence of wants' is a feature of which system? [S.S.C. Online Constable GD 15.02.2019 (Shift-II)]

(a) Forex system
(b) Barter System
(c) Equity System
(d) Liquidity system

Correct Answer: (b) Barter System

Solution:The barter system is a trade in which goods are exchanged between the buyer and seller without the use of real money. Double coincidence of wants is a feature of the barter system.

9. Which of the following statements is NOT correct about the factors that gave rise to the Consumer Movement in India? [S.S.C. Online Constable GD 15.02.2019 (Shift-II)]

(a) Adulteration of food
(b) Hoarding and Black Marketing
(c) Tax on soft beverages
(d) Frequent food shortages

Correct Answer: (c) Tax on soft beverages

Solution:Factors that gave rise to the consumer movement in India are:

Rampant food shortages.
Hoarding and Black Marketing.
Adulteration of food and edible oil.

Tax on soft beverages is not correct about the factors that gave rise to the Consumer Movement in India.

10. Which of the following is a labor intensive industry? [S.S.C. Online Constable GD 19.02.2019 (Shift-I)]

(a) Wheat
(b) Pulses
(c) Tea
(d) Maize

Correct Answer: (c) Tea

Solution:Labor intensive industries are those industries in which the value of labor is more important than the capital value. Due to a large number of workers in such industries, the total value of wages is higher than in capital intensive industries. Examples of the labor-intensive industry include:

• Tea industry

• Nursing

• Textile industry

• Teaching

• Mining

12 3 Next »