Economics Questions for SSC & Railway Exam 2018 Based on Adda247 Book: 2nd November

Dear aspirants,

With the passing months, exam preparation for govt. exams viz. SSC CGL, SSC CHSL, SSC CPO, SSC JE, SSC MTS and other prominent competitive exams is required to ace your performance in these sought after govt job. based exams. And to facilitate you with an extraordinary experience of learning via the best study content of ADDA247 Publication Books, we will be providing daily quizzes of all the four mandatory subjects let it be Quantitative Aptitude, English Language, Reasoning and General Awareness right away from ADDA247 Publication Best Books For all SSC Exams to facilitate you with our Publication Books’ efficiency encompassed with comprehensive study material subsumed with holistic notes, Practice Sets and Exercises. 

Starting from today, the quizzes on SSCADDA for all SSC Exams will be based on ADDA247 Publication Books to make you experience a beneficial journey which drum up your efforts, preparation strategy and time managing skills. GA holds its own importance in all SSC Exams considering the same, today’s GA Quiz is all set to catalyze your preparation.

Q1. In which of the following market forms, a firm does not exercise control over price?
निम्नलिखित बाजार रूपों में से कौन सा फर्म कीमत पर नियंत्रण का उपयोग नहीं करता है?
(a) Monopoly / एकाधिकार
(b) Perfect competition/ योग्य प्रतिदवंद्दी
(c) Oligopoly / अल्पाधिकार
(d)Monopolistic competition/ एकाधिकार प्रतियोगिता

Show Answer
Sol. Perfect Competition is a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.

Q2. Lorenz curve shows
लोरेन्ज वक्र क्या दर्शाता है?
(a) Inflation/ मुद्रास्फीति
(b) Unemployment/ बेरोजगारी
(c) Income distribution/ आय वितरण
(d) Poverty/गरीबी

Show Answer
Sol. The Lorenz curve is a graphical representation of income inequality or wealth inequality developed by American economist Max Lorenz in 1905.

Q3. An indifference curve measures _________ level of satisfaction derived from different combinations of commodity X and Y.
एक उदासीनता वक्र ________ कमोडिटी X और Y के विभिन्न संयोजनों से प्राप्त संतुष्टि का स्तर मापता है.
(a) same/ समान
(b) higher/ उच्चतर
(c) lower/ कम
(d) minimum/ न्यूनतम

Show Answer
Sol. An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility.

Q4. Which one of the following is not a scheme or project ?
निम्नलिखित में से कौन सा योजना या परियोजना नहीं है?
(a) AMRUT/ अमृत
(b) Swachh Bharat/ स्वच्छ भारत
(c) AYUSH/ आयुष
(d) Jan Dhan Yojana/ जन धन योजना

Show Answer
Sol. Department of Indian Systems of Medicine and Homoeopathy (ISM&H) was established in 1995 and renamed as Department of Ayurveda, Yoga & Naturopathy, Siddha, Unani and Homoeopathy (AYUSH) in November, 2003. It is not a scheme/project of present Government.

Q5. Trickle down theory ignores the impact of economic growth on –
ट्रिकल डाउन थ्योरी किस पर आर्थिक विकास के प्रभाव को अनदेखा करता है-
(a) Investment/ निवेश
(b) Savings/ बचत
(c) Income distribution/ आय वितरण
(d) Consumption/ सेवन

Show Answer
Sol. Trickle-down economics, or “trickle-down theory,” states that tax breaks and benefits for corporations and the wealthy will trickle down to everyone else. It argues for income and capital gains tax breaks or other financial benefits to large businesses, investors and entrepreneurs to stimulate economic growth. It ignores the impact of economic growth on income distribution.

Q6. An economy in which activities are organized through market force of demand and supply is called : 
एक अर्थव्यवस्था जिसमें गतिविधियों का आयोजन मांग और आपूर्ति के बाजार बल के माध्यम से किया जाता है क्या कहलाता है ?
(a) Socialistic Economy/ समाजवादी अर्थव्यवस्था
(b) Self-reliant economy/ आत्मनिर्भर अर्थव्यवस्था
(c) Market Economy/ बाजार अर्थव्यवस्था
(d) None of these/ इनमें से कोई नहीं

Show Answer


Sol. Market Economy is the economy in which the market forces namely demand supply decide the path of faction.

Q7. What is a bank rate?
बैंक दर क्या है?
(a) Rate at which Central bank of a country advances loans to other banks in the country/ जिस दर पर देश के केंद्रीय बैंक देश के अन्य बैंकों को ऋण अग्रिम करते हैं
(b) Rate at which banks advance loans to the customers/ जिस दर पर बैंक ग्राहकों को ऋण अग्रिम करते हैं
(c) Rate at which banks lend among themselves/ जिस दर पर बैंक खुद के बीच उधार देते हैं
(d) Rate at which banks lend to money lenders/ जिस दर पर बैंक उधारदाताओं को उधार देते हैं

Show Answer
Sol. Bank rate is the rate charged by the central bank for lending funds to commercial banks.

Q8. Fiscal policy in India is formulated by –
भारत में वित्तीय नीति किस के द्वारा तैयार की जाती है-
(a) Reserve Bank of India / भारतीय रिजर्व बैंक
(b) Planning Commission/ योजना आयोग
(c) Finance Ministry / वित्त मंत्रालय
(d) SEBI/ सेबी

Show Answer


Sol. Fiscal policy in India is formulated by Finance Ministry.

Q9. If price of an article decreases from P1 to Rs 25, quantity demanded increases from 900 units to 1200 units. If point elasticity of demand is 2 find P1?
यदि किसी वस्तु की कीमत P1 से 25 रुपये तक कम हो जाती है, मांग 900 इकाइयों से बढ़कर 1200 इकाई हो गई. यदि मांग का लचीलापन 2 है P1 ज्ञात करें.
(a) Rs. 20
(b) Rs. 30
(c) Rs. 35
(d) Rs. 15

Show Answer


Sol. Elasticity= (ΔQ/ΔP) × (P/Q) where ΔQ is change in Quantity and ΔP is change in Price.

Q10. If demand curve for camping tents is D = 100000 – 17P and supply curve is S = 50000 + 8P, find the equilibrium Price?
यदि शिविर टेंट के लिए मांग वक्र D = 100000 – 17P  है और आपूर्ति वक्र S = 50000 + 8P है, समतोल मूल्य बताएं?
(a) Rs. 1000
(b) Rs. 2000
(c) Rs. 4000
(d) Rs. 500

Show Answer


Sol. At equilibrium demand is equal to supply.

Q11. A company faces a -2.5 price elasticity of demand for its product. It is presently selling 10,000 units/month. If it wants to increase quantity sold by 6%, it must lower its price by –
एक कंपनी को अपने उत्पाद के लिए -2.5 मूल्य की मांग की लचीलापन का सामना करना पड़ता है. यह वर्तमान में 10,000 यूनिट/ महीने की बिक्री कर रहा है. यदि वह बिक्री में 6% वृद्धि करना चाहता है, तो इसको कीमत कितनी कम करनी चाहिए?
(a) 3.50%
(b) 15%
(c) 2.50%
(d) 2.4%

Show Answer
Sol. ELASTICITY= (%change in the quantity) / (%change in the price)
Q12. A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be –
एक निर्माता को अपने उत्पाद के लिए -2 की मांग की कीमत लोच का सामना करना पड़ता है. यदि वह 5% तक कीमत कम करता है, बेची गई मात्रा में कितनी वृद्धि होगी?
(a) 3%
(b) 10%
(c) 2.50%
(d) 7%
Show Answer
Sol. Elasticity = (% Change in Quantity) / ( % Change in Price).
Q13. In 2015 the nominal rate of interest in country was 6%, and the inflation rate then was 1.5%. So real rate of interest in 2015 was
2015 में देश में ब्याज की मामूली दर 6% थी, और मुद्रास्फीति दर 1.5% थी. तो 2015 में ब्याज की वास्तविक दर क्या थी?
(a) 7.5%
(b) 4.5%
(c) 4%
(d) 0.25%
Show Answer
Sol. Real interest rate is approximately the nominal interest rate minus the inflation rate.
Q14. A beedi making workshop can hire 5 women by paying them Rs. 300 per day. The 6th woman demands Rs. 350 per day. If this woman is hired then all other women must be paid Rs. 350. The marginal resource (labour) cost of the 6th woman is
एक बीडी बनाने की कार्यशाला 5 महिलाओं को 300 रुपये प्रति दिन भुगतान के साथ कार्यरत करती है. छठी महिला 350 रुपये प्रति दिन की मांग करती है. अगर यह महिला कार्यरत होती है तो अन्य सभी महिलाओं को 350 रुपये का भुगतान करना होगा. छठी महिला की मामूली संसाधन (श्रम) लागत क्या है?
(a) Rs. 600
(b) Rs. 50
(c) Rs. 300
(d) Rs. 100
Show Answer
Sol. Marginal cost is the change in the opportunity cost that arises when the quantity produced is incremented by one unit, that is, it is the cost of producing one more unit of a good.
Total amount paid to 5 women before demand of 6th women = 5 ×300 =1500
Total amount paid to 6 women after demand of 6th women =350×6 = 2100
Marginal cost=2100-1500 =600.
Q15. At which rate, Reserve Bank of India borrows money from commercial banks?
किस दर पर, भारतीय रिज़र्व बैंक वाणिज्यिक बैंकों से धन उधार लेता है?
(a) Bank Rate / बैंक दर
(b) Repo Rate/ रेपो दर
(c) Reverse Repo Rate / रिवर्स रेपो दर
(d) Statutory Liquidity Rate/ वैधानिक तरलता दर
Show Answer


Sol. Reverse Repo rate is the rate at which RBI borrows money from the commercial banks. It is a monetary policy instrument which can be used to control the money supply in the country.

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