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Economics MCQ Cseet Set 2

1) GDP stands for Gross Domestic Product. What does it show? Pick up the

correct statement given below:

(a) It shows how big is the economy of a country in a given year in terms of

its total output.

(b) It shows what the total product of a country in a given year without

counting the country’s total resources.

(c) It shows the number of people involved in production in a particular


(d) It shows the total value of trade trans-actions of a country in a particular


2) Employment figures of a country are based on data collected from 5-yearly

survey on employment and unemployment. Which organisation conducts

this survey?

(a) NSSO—National Sample Survey Organisation

(b) NREGA 2005—National Rural Employment Guarantee Act, 2005

(c) ILO — International Labour Organisation

(d) Census of India

3) Which of the following examples does not fall under unorganized sector?

(a) A farmer irrigating his field.

(b) A daily wage labourer working for a contractor.

(c) A doctor in a hospital treating a patient.

(d) A handloom weaver working on a loom in her house.

4) Underemployment occurs —

(a) when people are not willing to work.

(b) when people are working slowly.

(c) when people are working less than what they are capable of doing.

(d) when people are not paid for their jobs.

5) How do big private companies contribute in the development of a nation?

(a) By increasing the demands for their products through advertisements.

(b) By increasing their profits.

(c) By increasing productivity of the country in the manufacturing of

industrial goods.

(d) By providing private hospital facilities for the rich.

6) Where will you find the disguised unemployment most? Select the correct

option from those given below:

(a) Among agricultural workers working for small farm lands

(b) Among part-time industrial workers

(c) In most of the government offices

(d) In big private companies

7) NREGA (National Rural Employment Guarantee Act of 2005) has guaranteed

………. days of employment in a year in many districts of India. What are the

correct number of days?

(a) 200 days

(b) 100 days

(c) 30 days

(d) 60 days

8) The task of measuring GDP is undertaken by the

(a) central government

(b) state government

(c) provincial government

(d) all of the above

9) Life insurance is an activity of the

(a) primary sector

(b) secondary sector

(c) service sector

(d) none of the above

10) The motive of the public sector enterprises is

(a) profit making

(b) entertainment

(c) social welfare and security

(d) none of the above

11) Which of the following is not applicable for a worker, who works in

the organised sector?

(a) She gets a regular salary at the end of the month

(b) She is not paid for leave

(c) She gets medical allowance

(d) She got an appointment letter stating the terms and conditions of work

when she joins work.

12) The service sector includes activities such as

(a) agriculture, dairy, fishing and forestry

(b) making sugar, gur and bricks

(c) transport, communication and banking

(d) none of these

13) Which of the following types of activities are covered in the secondary


(a) It generates services rather than goods.

(b) Natural products are changed through manufacturing.

(c) Goods are produced by exploiting natural resources.

(d) It includes agriculture, forestry and dairy.

14) Who carries economic activities?

(a) individuals

(b) firms

(c) government

(d) all the above

15) The economy is classified into public and private sectors on the basis

of :

(a) employment conditions

(b) the nature of economic activity

(c) ownership of enterprises

(d) number of workers employed in the enterprise

ANSWERS- 1-a,2-a,3-c,4-c,5-c,6-a,7-b,8-a,9-c,10-c,11-b,12-c,13-b,14-d,15-c.

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