TNPSC General Knowledge Model Questions Economics

1. The first BRICS Trade Fair and Exhibition has started in which city of India?
a. Mumbai
b. Delhi
c. Chennai
d. Indore
Answer: b

2. Income tax is a ___________
a. Direct tax 
b. Indirect tax
c. both direct tax and indirect tax 
d. customs duty
Answer: a

3. Monetary policy is implemented by __________
a) Central Government 
b) Central and State Governments
c) Central Bank of the country 
d) Private enterprises
Answer: c

4. The statement ‘ Supply creates its own Demand’ was given by
a) Adam Smith 
b) J. M. Keynes
c) J. B. Say 
d) Stonier
Answer: b

5. Which of the following personalities have won the 2016 Nobel Prize in Economics?
a. Eugene Fama and Robert Shiller
b. Angus Deaton and Jean Tirole
C. lvin Roth and Lloyd Shapley
d. Oliver Hart and Bengt Holmstrom
Answer: d

6. Who releases ‘Ease of Doing Business’ index.
a. UN Bank 
b. IMF
c. World Bank
d. UNICEF
Answer: c

7. The concept ‘ Division of labour’ was introduced by
a) Alfred Marshall 
b) Adam Smith
c) J. M. Keynes 
d) J. R. Hicks
Answer: b

8. Monopoly exists when there is
a) a single producer 
b) a single buyer
c) a few producers 
d) many producers
Answer: a

9. Rent is the price paid for the use of
a) capital 
b) organization
c) labour 
d) land
Answer: d

10. Economics is a ___________ science
a) Natural 
b) Physical
c) Social 
d) Behavioural
Answer: c

11. Full form of UJALA scheme
a. Unnat Jyoti by Affordable LEDs for All
b. Unnat Jan-Jyoti by Affordable LEDs for All
c. Unnat Janan-Jyoti by Affordable LEDs for All
d. Unnat Jyoti by Affordable LAMPs for All
Answer: a

12. Indian Economy is a ___________economy
a) Socialist 
b) Capitalist
c) mixed 
d) traditional
Answer: c

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