SSC CGL Tier 1 old Economic Qsएसएससी सीजीएल पुराने आर्थिक क्यू

These economic questions have been asked in variouse exams of SSC CGL over the years... 

1. When there is affect on economic activity of a specific country due to import and export, then such economy
are called-
(a) Closed economy
(b) Open economy
(c) Agricultural economy
(d) Industrial economy

2. The Worldwide great depression happens in which year-
(a) 1936
(b) 1929
(c) 1928
(d) 1930

3. Which among the following is not the investment of goods & services?
(a) Cost of machinery
(b) Increase in cost of raw goods
(c) Increasing deparment of company
(d) Cost of buying house.

4. Preparing butter and ghee for household consumption of own family is a part of –
(a) Household investment production
(b) Industrial production
(c) Consumption
(d) Own Account Production

5. Multinational firm is–
(a) A company started by foreign governments
(b) A single company established in different countries
(c) A company in India started by U.S. government
(d) A company started jointly by India and U.S.

6. Internal profit–
(a) Happens when internal trade expands
(b) Happens when business expands
(c) Happens in economy when they increase
(d) Happens in firms when they expand their product

7. The best Example of capital intensive industry in India is-
(a) Textile industry
(b) Steel industry
(c) Tourism industry
(d) Spare goods industry.

8. The Removal of prohibitions and hindrance by government is called.
(a) Globalisation
(b) Privatisation
(c) Liberalisation
(d) Bilateral understanding.

9. Which of the following is related to South-South debate?
(a) Cooperation between developing countries
(b) Defence Organisation
(c) Sitting between developed & developing countries
(d) All of the above.

10. In a economy “Development Stage” means-
(a) Starting of steadily increasing economy
(b) Bad economy
(c) Economy is on the verge of destroying
(d) All tariff to be removed.

11. The tree like structure of records in a database in-
(a) Network Model
(b) Hierarchical Model
(c) Relational Model
(d) Multi-Dimenmoral Model

12. According to Kenz, consumption function shows relation between.
(a) Total Consumption and Total Population
(b) Total Consumption and Normal Price Rate
(c) Total Consumption and Total Income
(d) Total Consumption and Rate of Interest

13. The interest in infrastructure is less because.
(a) There is large invest in it
(b) There needs a desired project
(c) Time to finish the infrastructure is more
(d) Profit is gained after long time.

14. “World Bank” is also called as –
(a) International Bank for Reconstruction and development
(b) International, rehabilation and development bank
(c) International rehabilated and development bank
(d) None of these.

15. What will happen if labour productivity is increased?
(a) Balanced cash wage will decrease
(b) Competitive firms will be forced to invest more
(c) Labour demand curve will shift towards right
(d) None of the above.

16. Socialism is successful in achieving because of–
(a) Excess socialistic approach in society
(b) To increase standard of living
(c) Equal distribution of income
(d) None of the above

17. Which among of the following is not a positive sign for any industry.
(a) Decrease in profit
(b) Labour instability
(c) Decrease in market
(d) Decrease in demand

18. IMF was established to meet which of the following objectives.
(i) Promoting International Monetary Cooperation
(ii) Expending International Trade
(iii) Lessening the inequlibrium in trade
(iv) Avoiding competitive exchange depreciations.
(a) i,ii,iii
(b) i, iii, iv
(c) ii, iv
(d) i, ii, iii, iv

19. The capital of IMF is made up by the contribution of–
(a) Credit
(b) Deficit Financing
(c) Member Nations
(d) Borrowings

20. The term “Micro Economics” and “Macro Economics” was coined by–
(a) Alfred Marshal
(b) Ragner Nurkse
(c) Ragner Frisch
(d) J.M. Keynes

21. “Micro” and “Macro” words was firstly used by–
(a) Ragnar Frisch
(b) I. Fischer
(c) James Tobin
(d) Garle

22. Arthashastra by “Kautilya” is related with–
(a) Military Phase
(b) Political Reign
(c) Social Phase
(d) Economic Postulates

23. The Social Accounting system in India is classified into–
(a) Assets, Liabilities and Debt Position
(b) Public sector, Private Sector and Joint Sector
(c) Income, Product and Expenditure
(d) Enterprise, Households and Government

24. The Production of a commodity mostly through the natural process is an activity of–
(a) Primary Sector
(b) Secondary Sector
(c) Tertiary Sector
(d) Technology Sector

25. Rent is a cost paid for–
(a) Land
(b) Restaurant
(c) Building
(d) Factory

26. Due to worldwide great depression, ‘New Deal’ was declared by?
(a) Abhraham Lincon
(b) Benzamin Frankllin
(c) J.F. Kennedy
(d) Roozwelt

27. The Relationship between rate of interest and consumption level was firstly estimated by–
(a) Amartya Sen
(b) Milton Freedman
(c) Irwing Fischer
(d) James Duezan Berry

28. The Surplus earned by a factor other thus land in the short period is referred as –
(a) Economic Rent
(b) Net Rent
(c) Quasi-Rent
(d) Super-Normal Rent

29. Labour Intensive Technique would get chosen in a–
(a) Labour Surplus Economy
(b) Capital Surplus Economy
(c) Developed Economy
(d) Developing Economy

30. Amartya Sen was awarded the Noble Prize for his contribution to–
(a) Monetary Economics
(b) Welfare Economics
(c) Econometrics
(d) Development Economics

31. The Views of eminent economist Robert Malthus on Population is–
(a) Pessimistic
(b) Optimistic
(c) Both (a) and (b)
(d) None of the above

32. Which among the following is not true about the work of Human Resource and Development (HRD)–
(a) Caste – System
(b) Youth and Sport
(c) Education
(d) Child Development

33. According to whom second chamber is unnecessary & bad?
(a) Monkahour
(b) Bentham
(c) Seale
(d) Loosky

34. Who among the following promotes social justice?
(a) Herald Laski
(b) John Keynes
(c) John Rowles
(d) All of the above

35. With which form of economy is the term ‘Laissez-Faire’ associated?
(a) Capitalist Economy
(b) Socialist Economy
(c) Mixed Economy
(d) Command Economy

36. Which of the following statements is correct?
(a) Most workers will work for less than their reservation wage
(b) The reservation wage is the maximum amount of any firm will pay for a worker
(c) Economic rent is the difference between the market wage and the reservation wage
(d) Economic rent is the amount one must pay to enter a desirable labour market

37. Who defined ‘Rent’ as that portion or produce of the Earth, which is paid to the landlord for the use of original and indestructible power of the soil?
(a) Ricardo
(b) Marshall
(c) Keynes
(d) Pigou

38. The word ‘Oikonomia’ means–
(a) Household Management
(b) Individual Management
(c) Political Management
(d) Fiscal Management

39. Economics is a–
(a) Computer Science
(b) Physical Science
(c) Social Science
(d) Natural Science

40. The supply of labour in the economy depends on–
(a) Population
(b) National Income
(c) Per Capita Income
(d) Natural Resources

41. Wage Fund Theory was propounded by–
(a) JB Say
(b) JS Mill
(c) JR Hicks
(d) JM Keynes

42. The main feature of a capitalist economy is–
(a) AdMinistered Prices
(b) Public Ownership
(c) Economic Planning
(d) Private Ownership

43. Exploitation of labour is said to exist when–
(a) Wage = Marginal Revenue Product
(b) Wage < Marginal Revenue Product
(c) Wage > Marginal Revenue Product
(d) Marginal Revenue Product = 0

44. Consumption function expresses the relationship between consumption and–
(a) Savings
(b) Income
(c) Investment
(d) Price

45. Price theory is also known as–
(a) Macro Economics
(b) Development Economics
(c) Public Economics
(d) Micro Economics

46. Who defined investment as “The construction of a new capital asset like machinery or factory building”?
(a) Hansen
(b) JM Keynes
(c) Harrod
(d) JR Hicks

47. “Economics is what it ought to be” This statement refers to–
(a) Normative Economics
(b) Positive Economics
(c) Monetary Economics
(d) Fiscal Economics

48. Labour Intensive Technique would get choosen in a–
(a) Labour Surplus Economy
(b) Capital Surplus Economy
(c) Developed Economy
(d) Developing Economy

49. “Interest is a reward for parting with liquidity” is according to–
(a) Keynes
(b) Marshall
(c) Haberler
(d) Ohlin

50. Who said, “Economics is the Science of Wealth”?
(a) Robbins
(b) JS Mill
(c) Adam Smith
(d) Keynes

51. Who among the following is not a classical economist?
(a) David Ricardo
(b) John Stuart Mill
(c) Thomas Malthus
(d) John Maynard Keynes

52. "The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money" who says this?
(a) Samuelson
(b) Kuznets
(c) Hicks
(d) Pigou

53. Core industries are–
(a) Basic Industries
(b) Consumer Goods Industries
(c) Capital Goods Industries
(d) Government Industries

54. The Capital formation in an economy depends on–
(a) Total Income
(b) Total Demand
(c) Total Savings
(d) Total Production

55. Which of the following does not determine supply of labour?
(a) Size and age-structure of population
(b) Nature of work
(c) Marginal productivity of labour
(d) Work-leisure ratio

56. Equilibrium is a condition that can–
(a) never change
(b) change only if some outside factor changes
(c) change only if some internal factor changes
(d) change only if government policies change

57. Which of the following concepts are most closely associated with JM Keynes?
(a) Control of money supply
(b) Marginal utility theory
(c) Indifference curve analysis
(d) Marginal efficiency of capital

58. An economy is in equilibrium when–
(a) Planned consumption exceeds planned saving
(b) Planning consumption exceeds planned investment
(c) Aggregate demand to aggregate supply
(d) Intended investment exceeds intended savings

59. In equilibrium, a perfectly competitive firm will equate–
(a) Marginal social cost with marginal social benefit
(b) Market supply with market demand
(c) Marginal profit with marginal cost
(d) Marginal revenue with marginal cost

60. The difference between the price the consumer is prepared to pay for a commodity and the price which he
actually pays is Called–
(a) Consumer’s Surplus
(b) Producer’s Surplus
(c) Landlord’s Surplus
(d) Worker’s Surplus

61. Who is called the 'Father of Economics'?
(a) JM Keynes
(b) Malthus
(c) Ricardo
(d) Adam Smith

62. In the long-run equilibrium a competitive firm earns.
(a) Super-normal profit
(b) Profits equal to other firms
(c) Normal profit
(d) No profit

63. According to the Classical System, saving is a function of–
(a) Income
(b) the interest rate
(c) the real wage
(d) the price level

64. The labour which creates value and gets rewarded for its services is called–
(a) Both Skilled and Unskilled Labour
(b) Average Labour
(c) Productive Labour
(d) Unproductive Labour

65. Which of the following is not an economic problem?
(a) Deciding between paid work and leisure
(b) Deciding between expenditure on one good and the other
(c) Deciding between alternative methods of personal saving
(d) Deciding between different ways of spending leisure time

66. The basic infrastructure facilities in economics are known as–
(a) Human Capital
(b) Physical Capital
(c) Social Overheads Capital
(d) Working Capital

67. What are the main components of basic social infrastructure of an economy?
(a) Education, Industry and Agriculture
(b) Education, Health and Civil Amenities
(c) Transport, Health and Banks
(d) Industry, Trade and Transport

68. If an industry is characterised by economics of scale then–
(a) Barriers to entry are not very large
(b) Long-run unit costs of productions decreases as the quantity the firm produces increases
(c) Capital requirement are small due to the efficiency of the large scale operation
(d) The costs of entry into the market are likely to be substantial

69. Disguised unemployment means–
(a) Willing to work and not getting the work
(b) Not getting work on all days throughout the year
(c) Insufficiency of capital structure to absorb the large labour force
(d) More people working, than required

70. The famous economist Thomas Robert Malthus, in his views regarding population, is–
(a) Optimistic
(b) Partly optimistic and partly pessimistic
(c) Pessimistic
(d) None of the above

71. Economic problem arises because of–
(a) Scarcity of means
(b) Multiplicity of resources
(c) Scarcity of wants
(d) Over Population

72. The Price mechanism is a feature of–
(a) Capitalist Economy
(b) Barter Economy
(c) Mixed Economy
(d) Socialist Economy

73. Human development index was development by–
(a) Amartya Sen
(b) Friedman
(c) Mahbub-ul-Haq
(d) Montek Singh

74. Globalisation means–
(a) Integration of economy
(b) Integration of financial market
(c) Integration of the domestic economy with the world economy
(d) Integration of the various sectors of economy

75. Disinvestment in public sector is called–
(a) Liberalisation
(b) Globalisation
(c) Industrialisation
(d) Privatisation

76. ‘Hire and Fire’ is the policy of–
(a) Capitalism
(b) Socialism
(c) Mixed economy
(d) Traditional economy

77. The Economic development depends on–
(a) Natural resources
(b) Capital formation
(c) Size of the market
(d) All of these

78. Which one of the following categories of workers is termed as cultivators?
(a) Those who own land and cultivate
(b) Those who lease in land and cultivate
(c) Those who cultivate the land of others
(d) Those who own land and lease in from others or institutions and cultivate

79. India is called a mixed economy because of the existence of–
1. Public Sector
2. Private Sector
3. Joint Sector
4. Cooperative Sector Codes
(a) 1 and 2
(b) 1 and 3
(c) 3 and 4
(d) 2 and 4

80. In an economy, the sectors are classified into public and private on the basis of–
(a) Employment conditions
(b) Nature of economic activities
(c) Ownership of enterprises
(d) Use of raw materials

81. A mixed economy works primarily through the–
(a) Market mechanism
(b) Central allocative machinery
(c) Market mechanism regulated by government policy
(d) Market mechanism guided by government participation and planning

82. A closed economy is one which–
(a) Does not trade with other countries
(b) Does not possess any means of international transport
(c) Does not have a coastal line
(d) Is not a member of the UNO

83. The concept of mixed economy means–
(a) To have balanced development in the agricultural and industrial sector
(b) Simultaneous development of the rural and urban sector
(c) To have equal distribution of wealth among the rural and the urban poor
(d) Simultaneous existence of the private and public sector

84. In which sector of the Indian economy is productivity the highest?
(a) Manufacturing
(b) Transport, Communication and Commerce
(c) Agriculture
(d) Other sectors

85. Which of the following is a part of tertiary sector ?
(a) Power and Transportation
(b) Animal Husbandry
(c) Cotton Manufacturing
(d) Cultivation of Crops.