1. Which of the following is NOT a characteristic of the Indian economy? (a) Mixed economy (b) Developing economy (c) Primarily agrarian (d) Fully industrialized
2. The primary sector of the Indian economy includes: (a) Manufacturing (b) Agriculture (c) Services (d) Information Technology
3. What is the National Income of India? (a) Total income of all individuals in India (b) Total value of goods and services produced in India in a year (c) Total exports from India (d) Total imports into India
4. The largest contributor to India’s GDP is: (a) Agriculture (b) Industry (c) Services (d) Foreign Trade
5. What is the role of the Reserve Bank of India (RBI)? (a) To control inflation (b) To regulate banks (c) To issue currency (d) All of the above
6. Which of the following is a direct tax in India? (a) Goods and Services Tax (GST) (b) Income Tax (c) Excise Duty (d) Customs Duty
7. What is the meaning of Fiscal Policy? (a) Policy related to money supply (b) Government’s policy related to revenue and expenditure (c) Policy related to foreign trade (d) Policy related to industrial development
8. The main objective of the NITI Aayog is: (a) To promote cooperative federalism (b) To formulate economic policies (c) To monitor implementation of policies (d) All of the above
9. Which of the following is NOT a Millennium Development Goal (MDG)? (a) Eradicate extreme poverty and hunger (b) Achieve universal primary education (c) Ensure environmental sustainability (d) Reduce child mortality
10. What is the meaning of Foreign Direct Investment (FDI)? (a) Investment by NRIs in Indian companies (b) Investment by foreign companies in India (c) Investment by Indian companies in foreign countries (d) Investment in government bonds
11. Which of the following is a major source of revenue for the Indian government? (a) Direct Taxes (b) Indirect Taxes (c) Both (a) and (b) (d) None of the above
12. What is the meaning of Inflation? (a) Decrease in the price of goods and services (b) Increase in the price of goods and services (c) Stable prices of goods and services (d) Fluctuating prices of goods and services
13. Which of the following is a measure of poverty in India? (a) Poverty line (b) Head count ratio (c) Both (a) and (b) (d) None of the above
14. What is the meaning of the term ‘Demographic Dividend’? (a) Increase in population (b) Potential economic growth due to a young population (c) Decline in population (d) Migration of population
15. Which of the following is a major challenge for the Indian economy? (a) Poverty (b) Unemployment (c) Inequality (d) All of the above
16. The ‘Make in India’ initiative aims to: (a) Promote foreign investment (b) Encourage domestic manufacturing (c) Increase exports (d) Reduce imports
17. What is the meaning of the term ‘Balance of Payments’? (a) Difference between exports and imports (b) Record of all economic transactions between a country and the rest of the world (c) Government’s budget (d) Central bank’s reserves
18. Which of the following is a function of the Securities and Exchange Board of India (SEBI)? (a) To regulate the stock market (b) To protect investors (c) To promote the development of the securities market (d) All of the above
19. What is the meaning of the term ‘Public Debt’? (a) Debt of private individuals (b) Debt of the government (c) Debt of public sector companies (d) Debt of foreign countries
20. Which of the following is a major agricultural crop in India? (a) Rice (b) Wheat (c) Sugarcane (d) All of the above
21. What is the meaning of the term ‘Green Revolution’? (a) Increase in industrial production (b) Increase in agricultural production due to the use of high-yielding varieties of seeds and fertilizers (c) Increase in forest cover (d) Increase in renewable energy production
22. Which of the following is a major industrial sector in India? (a) Textiles (b) Information Technology (c) Automobiles (d) All of the above
23. What is the meaning of the term ‘Microfinance’? (a) Finance for large industries (b) Providing small loans to poor people (c) Finance for infrastructure projects (d) Finance for foreign trade
24. Which of the following is a social sector scheme in India? (a) Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) (b) National Health Mission (c) Integrated Child Development Services (ICDS) (d) All of the above
25. What is the meaning of the term ‘Sustainable Development’? (a) Development that meets the needs of the present without compromising the ability of future generations to ¹ meet their own needs (b) Development that ² focuses on economic growth only (c) Development that focuses on environmental protection only (d) Development that focuses on social equity only
26. Which of the following is a major infrastructure sector in India? (a) Railways (b) Roads (c) Power (d) All of the above
27. What is the meaning of the term ‘Globalization’? (a) Integration of national economies (b) Increased interconnectedness and interdependence of countries through trade, investment, and information flows (c) Isolation of national economies (d) Protection of domestic industries
28. Which of the following is a major challenge related to urbanization in India? (a) Slums (b) Pollution (c) Inadequate infrastructure (d) All of the above
29. What is the meaning of the term ‘Skill Development’? (a) Providing education to all (b) Training people to acquire specific skills for employment (c) Providing financial assistance to students (d) Providing reservation in jobs
30. Which of the following is a major environmental issue in India? (a) Air pollution (b) Water pollution (c) Deforestation (d) All of the above

Answer Key:

1. d
2. b
3. b
4. c
5. d
6. b
7. b
8. d
9. c
10. b
11. c
12. b
13. c
14. b
15. d
16. b
17. b
18. d
19. b
20. d
21. b
22. d
23. b
24. d
25. a
26. d
27. b
28. d
29. b
30. d