Economy Questions for SSC Exams Set 1

Economy Questions Answers MCQ for various exams like SSC CGL, CPO, CHSL, High Court and other related exams.

  1. The best way a bank can avoid loss is to
    A) land only to individuals known to the bank
    B) accept sound collateral
    C) give only short term loans
    D) lend only to bank’s old customers
    View Answer
    Option B

  2. The symbol of Reserve Bank of India is
    A) Ashokan pillar
    B) Tiger before a palm tree
    C) Kuber with a purse of money
    D) A dog
    View Answer
    Option B

  3. Which of the following functions as a controller of credit in India
    A) central government
    B) Reserve Bank of India
    C) State Bank of India
    D) planning commission
    View Answer
    Option B

  4. Who coined the term ‘Hindu rate of growth’ for Indian economy?
    A) A.K.Sen
    B) S.Parikh
    C) Raj Krishna
    D) M.S.Ahluwalia
    View Answer
    Option C

  5. The national income of a country is
    A) government annual revenue
    B) total productive income
    C) surplus of the public sector Enterprise
    D) export import
    View Answer
    Option B

  6. The type of note issue system followed in India is
    A) maximum fiduciary system
    B) minimum reserve system
    C) proportional fiduciary system
    D) fixed fiduciary system
    View Answer
    Option B

  7. Which among the following Indian states does not transact its business through Reserve Bank of India?
    A) Sikkim
    B) Jammu and Kashmir
    C) Assam
    D) Arunachal Pradesh
    View Answer
    Option B

  8. The basic regulatory authority for mutual funds and stock markets lies with the
    A) Government of India
    B) Reserve Bank of India
    C) Stock exchange
    D) SEBI
    View Answer
    Option D

  9. Which of the following taxes is not shared between the Union and the states?
    A) income tax
    B) excise duty
    C) corporation tax
    D) sales tax
    View Answer
    Option D

  10. In which plan was self-reliance first emphasised?
    A) 2nd plan
    B) 3rd plan
    C) 4th plan
    D) 5th plan
    View Answer
    Option D


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96 Thoughts to “Economy Questions for SSC Exams Set 1”

  1. Sachin Shukla

    8/10 ty:)

    1. Sachin Shukla

      mam…what is sound collateral

      1. Swati

        It is same as collateral. Sound just means safe/secure that can be liquidated in future in case the borrower fails to pay back the loan.

        1. aspirant

          mam how many questions can be asked from science in cgl?

          1. Swati

            Going by the recent trends, expect a minimum of 5-6 questions from general science section.

          2. aspirant

            ok ty of the questions from static portion like history,geo,economy?

          3. Swati

            Yes. History, art and culture, geo, economy, polity and computer too. A few questions from current affairs. And a few miscellaneous like firsts in India, sports and related terms, awards, about UNO etc.

          4. aspirant

            thanks mam..which st would be good for cgl?i have purchased pm it enough?

          5. Swati

            I would suggest you to keep practicing. If pm mock tests get exhausted well before the exam, keep practicing from other sources. There are free mocks available too. Try textbook, oliverboard etc for free mocks.

          6. aspirant

            yes mam,thanku.i will but there is only 1 free mock in oliveboard and the st pakage is costly.mam i cleared sbi will be my 1st to prepare for gd?i heard it is very tough.

  2. Sachin Shukla

    What is ‘Collateral’
    Collateral is a property or other asset that a borrower offers as a way for a lender to secure the loan. If the borrower stops making the promised loan payments, the lender can seize the collateral to recoup its losses. Since collateral offers some security to the lender should the borrower fail to pay back the loan, loans that are secured by collateral typically have lower interest rates than unsecured loans. A lender’s claim to a borrower’s collateral is called a lien.

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