ONE LINERS ECONOMICS QUESTION AND
ANSWERS PART – 1.
Latest Economics
Questions | Indian Geography Questions and Answers for SSC CGL 2023 & other
Competitive Exams.
Hello Friends, We are sharing with you
One Liners Economics Questions and Answers. This is very helpful for various
competitive exams like SSC CGL, CHSL, MTS, RRB, DMRC, UPSC & other
competitive exams.
ECONOMICS Questions
for SSC CGL 2023:
1. 'Nav-Malthusian theory related to-
lack of
resources
2. The expenditure incurred by an entrepreneur on
advertising and public relations is part of its expenditure - Intermediate consumption
3. On what methodology is the planned economy in India –
socialist
system
4. What do we know when considering Giffen and substandard
goods –
Giffen goods
must also be cheap.
5. Demand for substandard goods
falls when income increases.
6. Average variable cost curve …… are shaped by –
U
7. In which rule it has been said that as incomes increase
with constant taste and preferences, the proportion of income spent on food
items decreases-
Angel rule
8. Those goods which are either fixed for consumption or
investment, what are called –
end goods
9. In which period of extreme recession came –
the year
1929-34
10. Who can fix India's balance of payments –
currency
devaluation, strong export promotion, import substitution
11. Devaluation of currency results in
increase in
exports and improvement in balance of payments.
12. Which tax is collected by the Central Government-
Income tax, customs duty, production duty
13. Whose losses are financed by net capital flows received
from abroad, thus capital account is more -
current
account
14. Fiscal policy is concerned with-
the income and expenditure of the
government
15. Taxation is a tool –
Fiscal policy
16. Which method is
used to determine the national income of a country –
income system, production system, input
system
17. Who is not included while estimating national income by
income method –
Pension
18. What is meant by personal disposable income- Personal
Income –
Direct Tax
19. Economic progress of the country is determined on the
basis of –
increase
in per capita income of the country
20. Real life standard of an individual can be estimated by
per capita income.
21. Economic growth is related to-
Continuous
growth of real income per capita in an economy for some period
22. When income increases, in what proportion does
consumption also increase –
in low proportion
23. National income is made up of –
by any production activity
24. Estimates of national income in India are prepared –
by the
Central Statistical Organization
25. Multinational firms –
are a company practiced in many
countries.
26. What are the advantages of a firm –
saving on
production costs
27. Real GDP is measured at
constant prices.
28. Percentage of current financial deficit in GDP is-
4
29. Indirect taxes are by-
Increasing order
30. Tax is said to be regressive when its weight is
much higher
on the poor than the rich.
31. What is the formal method of entering into trade
agreements with groups of countries –
trading blocks
32. Which cost is related to minimum cost –
variable cost
33. Tooth paste products are sold under-
monopolistic competition
34. When there is only one buyer and one seller of a
commodity, then it is called ......... status –
bipartisan monopoly.
35. In which market structure the demand curve of the market
is reflected by the demand curve of the firm-
Monopoly
36. What are the number of sellers in a monopoly market
structure –
One
37. Competitive position of a company can be improved by
..........
Understanding and meeting customer
requirement
38. Basic cost is equal to –
the sum of administrative cost in
variable cost
39. Increasing per capita income would indicate a better
welfare if it is accompanied by-
a changed income distribution in favor of
the poor.
40. Capital formation in an economy depends-
on the total
savings.
41. The best example of a capital intensive industry in India
is-
the steel
industry.
42. Removal of barriers or restrictions imposed by the
government is called –
liberalization
43. In the capitalist economy, the pricing is done by –
demand and supply
44. According to communism, who are the main enemies of the
society –
personal property
45. South-South Dialogues are related to-
Cooperatives
in developing countries
46. What is called the tree accumulation of records in a data
set –
hierarchical model
47. India and the United States have decided to finalize the
agreement related to-
Trade and
Investment
48. What is defined as the average rate of consumption –
total
consumption share total income
49. When income increases in the short term,
the average trend of consumption
generally declines.
50. The increase in demand for a common commodity is
accompanied by-
an increase
in the income of the consumer
