UPSC NCERT ECONOMY NOTES: TOPIC WISE SOLVED MCQ’s
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1. The most appropriate measure of a country’s economic growth is its:
a) Net National Product b) Per Capita Real Income
c) Net Domestic Product d) Gross Domestic Product
2. Which one of the following is the correct sequence in the decreasing order of contribution of different sources to the Gross Domestic Product of India?
a) Service – Industry – Agriculture
b) Service – Agriculture – Industry
c) Industry – Service – Agriculture
d) Industry – Agriculture – Service
3. The economy in which products and services are direct results of their beliefs, customs, traditions, religions is
a) Traditional Economy b) Micro Economy
c) Command Economy d) Market Economy
4. Capitalism is the economic system based on _____.
a) Private ownership b) Public ownership
c) Public and private ownership d) None of the above
5. A form of socialism called communism sprang up based on the writings of_____.
a) Plato b) Amartya sen
c) Karl Marx and Friedrich Engels d) Dadabhai Naoroji
6. The United Nations defines an underdeveloped country as one which has real per capita income lower than per capita income of_____.
a) USA, Canada, Australia, and Western Europe b) China, Russia, and USA
c) USA, India, China and Australia d) Canada, Western Europe
7. Consider the following statements:
1. National income is a flow, not a stock.
2. National wealth measures the stock of commodities held by the nationals of a country at a point in time.
3. National Income measures the productive power of an economy in a given period to turn out goods and services for final consumption.
Which of the above statements is/are correct?
a) 2 and 3 b) 1 and 3 c) 1 only d) All of the above.