Economic Quiz For SSC CHSL And FCI Exam

1. The ‘interest Rate Policy’ is a component of

(1) Fiscal Policy

(2) Monetary Policy

(3) Trade Policy

(4) Direct Control

2. ‘Gresham’s Law’ in Economics related to

(1) Supply and demand

(2) Circulation of currency

(3) consumption of supply

(4) distribution of goods and services  

3. A mixed economy works primarily through the

(1) market mechanism

(2) central allocative machinery

(3) market mechanism regulated by Government policy

(4) market mechanism guided by Government participation and planning

4. How will a reduction in ‘Bank Rate’ affect the availability of credite?

(1) Credit will increase

(2) credit will not increase

(3) credit will decrease

(4) None of these

5. When a large number of investors in a country transfer investment elsewhere because of disturbed economic condition, it is called

(1) Transfer of Capital

(2) Escape of Capital

(3) Outflow of capital

(4) Flight of Capital

6. ‘Golden Handshake Scheme’ is associated with

(1) inviting foreign companies

(2) private investment in public enterprises

(3) establishing joint enterprises

(4) Voluntary retirement

7. Inflation occurs when aggregate supply is

(1) more than aggregate demand

(2) less than aggregate demand

(3) equal to aggregate demand

(4) None of these

8. In Economics, production means

(1) manufacturing

(2) making

(3) creating utility

(4) farming

9. According to modern thinking, the law of diminishine returns applies to

(1) agriculture

(2) industry

(3) mining

(4) all fields of production

10. The concept that under a system of free enterprise, it is consumers who decided what goods and services shall be produced and in what quantities is known as :

(1) consumer Protection

(2) Consumers’ Decision

(3) Consumers Preference

(4) Consumer’s Sovereignty

Answers Key:
1.2
2.2
3.4
4.1
5.4
6.4
7.2
8.3
9.4
10.4