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NATURE OF INDIAN ECONOMY QUESTIONS

Exam NameNATURE OF INDIAN ECONOMY QUESTIONS
DescriptionNATURE OF INDIAN ECONOMY QUESTIONS and Answers exams contains the questions from various competitive exams.These questions are the part of previous year paper.These kind of questions would be helpful in preparing for exams like IAS, PCS, UPSC, NDA, CDS SSC, RRB, PSC, IBPS
Exam TypeMASTER EXAM
Authenticity9993
creatorAnirudh(39048)
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Question: The term mixed economy denoted:

Answer:existence of both private and public sectors


Question: In an economy the sectors are classified into public and private on the basis of:

Answer:Ownership of enterprises


Question: The Dual Economy is a mixture of :

Answer:traditional agriculture sector and modern industria sector


Question: Which sector of Indian Economy has shown remarkable expansion during the last decade?

Answer:Tertiary Sector


Question: When development in economy takes place, the share of tertiary sector in National Income:

Answer:keeps on increasing


Question: Mixed economy means :

Answer:Where public sector exists alongwith the private sector in national economy


Question: In India planned economy is based on:

Answer:Socialist System


Question: Economic liberalisation in India started with:

Answer:substantial changes in industrial licensing policy


Question: Production is at socially ideal level under:-

Answer:Perfect Competition


Question: Which one of the following is a residual earning ?

Answer:Profit


Question: New firms are barred from entering the market in :

Answer:Monopoly


Question: Who says: The propensity to consume is stable in the short run ?

Answer:Keynes


Question: The supply of a commodity does not depend directly upon :

Answer:Demand for the Commodity


Question: Capital information in an economy depends on :

Answer:Total savings


Question: Price cost is equal to :

Answer:Variable cost plus administrative cost.


Question: An expenditure that has been made and cannot be recovered is called:

Answer:Sunk Cost


Question: Who propounded the market law ?

Answer:J.B.Say


Question: Who among the following is NOT a classical economist ?

Answer:John Stuart Mill


Question: Pro. Amartiya Sen was awarded Nobel Prize for his contribution to the field of :

Answer:Welfare economics


Question: Nobel Prize in which field is Not paid out of the endowment set up by Dr.Alfred Nobel ?

Answer:Economics