CBSE Questions for Class 8 General Knowledge Indian Economy Quiz 6 - MCQExams.com

Science or technology parks, Science cities and other high-tech industrial complexes are examples of ________.
  • megalopolis
  • technopolis
  • metropolis
  • techno-production complexes
In which of the following type of age-sex pyramids, both birth and death rates are low and declining?
  • Progressive
  • Regressive
  • Stationary
  • Intermediate
Who is called the Father of Indian Economic Reform?
  • Jawaharlal Nehru
  • Indira Gandhi
  • Manmohan Singh
  • None of the above
Path of energy flow in an ecosystem is ____________.
  • herbivores - producers - carnivores - decomposers
  • herbivores - carnivores - producers - decomposers
  • producers - carnivores - herbivores - decomposers
  • producers - herbivores - carnivores - decomposers
In a food chain, energy transfers ____________.
  • from river to Earth
  • from lower latitude to higher lattitude
  • from one organism to other organism
  • None of the above
Regarding Finance Commission consider following statement
Finance commission is consulted by President under article 280 of the Constitution.
It is set up every 5th year.
The Finance Commission Act, 1950 lays down the rules regarding qualification and disqualification of members of the commission, their appointment, term, eligibility and powers.
It has 4 members and a chairman.
It has all powers of the Civil Court.
Find the correct one
  • 1, 2 and 3
  • 1, 2, 4 and 5
  • 1, 4 and 5
  • 1, 2, 3 and 4
Which among the following statements is incorrect?
  • Biome refers to large scale areas of similar flora and fauna and climatic characteristics.
  • An ecosystem is a set of organisms and abiotic components connected by the exchange of matter and energy.
  • Ecological niche is a set of only biotic conditions in which a species is able to persist and maintain stable population sizes.
  • Community consists of all the species living in a particular area.
Study of inter-relationship between living organisms and their environment is called __________.
  • Plant geography
  • Ecology
  • Plant social science
  • Ecosystem
When we eat the flesh of goat, we are ___________.
  • primary consumer
  • secondary consumer
  • tertiary consumer
  • none of the above
Primary productivity at the climax stage of a succession is ____________.
  • higher than consumption
  • lower than the consumption
  • equal to consumption
  • not related to consumption
Consider the following statements.
The term 'ecology' is first given by Reiter.
The term 'ecosystem' is first given by Tansley.
Which of the statements given above is/are correct?
  • Only 1
  • Only 2
  • 1 and 2
  • None of the above
The pyramid of number of a parasitic food chain in forest ecosystem is ___________.
  • always inverted
  • always upright
  • mixture of inverted and upright
  • sometimes inverted and sometimes upright
India is regarded as a country of 'Demographic Dividend'. This is due to _________.
  • its high population in the age group below 15 years
  • its high population in the age group of 15-64 years
  • its high population in the age group above 65 years
  • its high total population
Consider the following statements:
About one-third of GDP in India is contributed by the agricultural sector.
More than 60% of the country's GDP is contributed by the service sector.
Which of the statements given above is/are correct?
  • Only 1
  • Only 2
  • Both 1 and 2
  • Neither 1 nor 2
Match the following
1.Union ListA.Education
2.State ListB.Agriculture
3.Concurrent ListC.Banking
4.Residuary powerD.cyber security
Codes

  • A-1 ,B-2 ,C-3 ,D-4
  • A-2 ,B-3 ,C-1 ,D-4
  • A-3 ,B-2 ,C-1 ,D-4
  • A-4 ,B-2 ,C-3 ,D-1
'The bills imposing restriction on the freedom of trade and commerce can be Introduced in State Legislature only with the prior sanction of the President.' This provision is mentioned in Article
  • 200
  • 253
  • 252
  • 308
What percentage of the total population of the world resides in India, as estimated in 2011?
  • 15
  • 17.5
  • 20
  • 22.5
During which decade did the population record a negative growth rate in India?
  • 1921-1931
  • 1911-1921
  • 1941-1951
  • 1931-1941
Which one of the following statements about a state finance commission is true?
  • it is an informal body
  • it is a constitutional body
  • it is an administrative body
  • None of them
Who among the following is not the member of 14th Finance Commission?
  • Prof Abhijeet Sen
  • Sushma Nath
  • Govind Rao
  • Ajay Narayan Jha
Match List I (Finance Commission) with List II (Chairman) and select the correct answer using the codes given below.
List IList II
A.9th1.NPK Salve
B.10th2.C Rangarajan
C.11th3.KC Pant
D.12th4.AM Khusro
Codes

  • A-1 ,B-3 ,C-4 ,D-2
  • A-1 ,B-2 ,C-4 ,D-3
  • A-2 ,B-3 ,C-4 ,D-1
  • A-1 ,B-2 ,C-3 ,D-4
Who declares the Financial Emergency?
  • President
  • Prime Minister
  • Finance Minister
  • None of these
Consider the following statements:
Kerala is the best performer in terms of HDI in India.
Kerala has performed better than Norway in terms of overall HDI.
Which of the statements given above is/are correct?

  • Only 1
  • Only 2
  • Both 1 and 2
  • Neither 1 nor 2
Urbanisation in India is very poor as compared to other developed countries. Which one of the following can be the exact cause of the high population increase in urban areas?
  • Natural increase of urban population
  • Net migration from rural areas
  • Lack of coverage of rural masses under social benefit programmes
  • Both 'a' and 'b' are the exact causes for population increase in urban areas
Consider the following statements
More than 50% of the Net Domestic Product is contributed by the unorganised sector of Indian economy.
Less than one-fourth of Net Domestic Product is contributed by the organised sector of Indian economy.
Which of the statements given above is/are correct?
  • Only 1
  • Only 2
  • Both 1 and 2
  • Neither 1 nor 2
Since Independence, both plan and non-plan expenditures have increased, the increase in non-plan expenditure is little more than the former. Which one of the following expenditure causes the increase in non-plan-expenditure and select the correct answer using the codes
Interest payment
Subsidy
Irrigation
  • 1,2 and 3
  • 1 and 2
  • 1 and 3
  • Only 2
Which one of the following is not a goal included in the Millennium Development Goal of United Nations?
  • To halve the people of the world living with hunger
  • To halve the proportion of the worlds people living below $ 2.5
  • To halve the proportion of the world's people without access to safe drinking water
  • To achieve gender equality in access to education
Consider the following specific stages of demographic transition associated with economic development:
Low birth rate with low death rate
High birth rate with high death rate
High birth rate with low death rate 
Select the correct order of the above stages using the codes given below.
  • 1, 2, 3
  • 2, 1, 3
  • 2, 3, 1
  • 3, 2, 1
Which one of the following is the objective of social forestry which is started by Indian Government?
  • To increase green coverage
  • To create more employment opportunities
  • To reduce urbanisation in rural areas
  • To produce raw material for rayon and match factories
When development in an economy takes place, the share of tertiary sector in National Income ___________.
  • first falls and then rises
  • first rises and then falls
  • keeps increasing
  • remains constant
When two goods are completely interchangeable, they are 
  • Perfect substitutes
  • Perfect complements
  • Giffen goods
  • Veblen goods
Which one of the following states has the highest percentage of poverty according to the Suresh Tendulkar Commission in India?
  • Bihar
  • West Bengal
  • Odisha
  • Assam
The Reserve Bank of India (RBI) acts as a bankers' bank.This would imply which of the following ?
1) Other banks retain their deposits with RBI
2) The RBI lends funds to the commercial banks in times of need.
3) The RBI advises the commercial banks on monetary matters.
Select the correct answer using the codes given below
  • Only 2
  • 1 and 2
  • 2 and 3
  • All of the above
Which of the following is/are the function/functions of the Finance Commission of India?
Distribution of the taxes which are divisible between the Union and the State.
To recommend the principles which should govern the Grant-in-aid of the revenues of the States out of the Consolidated Fund of India.
Select the correct answer using the codes given below.
  • Only 1
  • Only 2
  • Both 1 and 2
  • Neither 1 nor 2
When was the Wealth Tax First introduced in India?
  • 1948
  • 1957
  • 1976
  • 1991
Consider the following sources
1) Net bank credit to the government.
2) Bank credit to the commercial sector.
3) Net foreign exchange assets of the banking system.
Which of the sources given above is / are the major sources of the 'Broad Money'  in the India economy ?
  • Only 2
  • 1 and 3
  • 2 and 3
  • All of these
Which one of the following laws stated that bad money drives out good if their exchange rate is set by law?
  • Gresham's law
  • Gilbert's law
  • Keynes' law
  • Kuznet's law
The provisions regarding division of taxes between the Union and the States
  • can be suspended during financial emergency
  • can be suspended during national emergency.
  • can be suspended under any circumstances
  • can be suspended only with the consent of majority of the State Legislatures
What is the period covered by the recommendation of the 12th Finance Commission?
  • Year 2004 - 2009
  • Year 2005 - 2010
  • Year 2006 - 2011
  • Year 2007 - 2012
Fiscal Policy refers to
  • Agricultural Fertiliser Policy
  • Rural Credit Policy
  • Interest Policy
  • Revenue and Expenditure Policy of the government
The basic aim of Lead Bank Scheme is that ___________.
  • big banks should try to open offices in each district 
  • there should be stiff competition among the various nationalised banks
  • individual banks should adopt particular districts for intensive development 
  • all the banks should make intensive efforts to mobilise deposits 
With reference to Indian commercial banks consider the following statements: 
The base rate system for the interest of commercial banks was introduced in 2010.
The base rate system has enabled a more informed assessment of the transmission of monetary policy impulses to banks' leading rates.
Which of the statements given above is/are correct?
  • Only 1
  • Only 2
  • Both 1 and 2
  • Neither 1 nor 2
In the context of Indian economy, 'Open Market Operations' refers to ______________.
  • borrowing by scheduled banks from the RBI
  • lending by commercial banks to industry and trade
  • purchase and sale of government securities by the RBI
  • None of the above
Consider the following statements. In India, taxes on transaction in stock exchanges and future markets are:
$$1.$$ Levied by the union.
$$2.$$ Collected by the states.
Which of the statements given above is/are correct?
  • Only $$1$$
  • Only $$2$$
  • Both $$1$$ and $$2$$
  • None of these
Which one of the following agencies in the Indian capital market has authority to regulate the mutual fund markets in India?
  • IRDA
  • SEBI
  • RBI
  • IBPS
Consider the following statements:
$$1.$$ Housing Development Finance Corporation Limited (HDFC) is a national level housing finance institution set up in $$1977$$.
$$2.$$ HDFC was established as a subsidiary company of the ICICI.
Which of the statements given above is/are correct?
  • Only $$1$$
  • Only $$2$$
  • Both $$1$$ and $$2$$
  • Neither $$1$$ nor $$2$$
Consider the following statements:
$$1$$. National Housing Bank (NHB) was established by the RBI in $$1980$$.
$$2.$$ NHB is directly financing the schemes of housing for women in India.
Which of the statements given above is/are correct?
  • Only $$1$$
  • Only $$2$$
  • Both $$1$$ and $$2$$
  • Neither $$1$$ nor $$2$$
Which one of the following statements is correct with reference to FEMA in India?
  • The Foreign Exchange Regulating Act (FERA) was replaced by Foreign Exchange Management Act (FEMA) in the year $$2001$$.
  • FERA was given a sunset clause of one year till $$31st$$ May, $$2002$$ to enable enforcement directorate to complete the inrenttigation of pending issues.
  • Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence.
  • As per the new dispensation, Enforcement Directorate can arrest and prosecute the people for violation of foreign exchange rule.
The recommendations of the Kelkar Task Force relate to
  • trade
  • banking
  • foreign
  • taxes
Consider the following statements:
$$1$$. Indian Depository Receipt is an instrument denominated in Indian rupees in the form of a depository receipt created by the custodian of securities registered with the Securities and Exchange Board of India against the underlying equity of issuing company.
$$2.$$ Standard Chartered $$PLC$$ became the first global company to file for an issue of Indian depository receipts in India.
Which of the statements given above is/are correct?
  • Only $$1$$
  • Only $$2$$
  • Both $$1$$ and $$2$$
  • Neither $$1$$ nor $$2$$
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