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Mission WBCS (Exe.) 2019 Prelims and Mains Daily Mock Test Arijit Basu Chowdhury
West Bengal Civil Services Graduate in History from St.Paul's Cathedral Mission College, Kolkata . Interests: Fitness , Current Affairs ,Burning Issues, Music, News Analysis . You can follow me on UNACADEMY- https://unacademy.com/user/ArijitBasuChowdhury Life has two rules: 1) Never quit. 2) Always remember Rule #1 . Rate , Review & Recommend
Daily Mock Test (Indian Economy) 1. What is MUDRA( Micro Units Development and Refinance Agency Bank)? a) Development and Refinance Agency b) Scheme for Agricultural Insurance c) New Planet Discovered d) Development and Regulatory Authority for Urban Township 2. In a centrally planned economy, ny, the -plans all the important activities in the economy. a) Industrialists b) Citizens c) Government d) Judiciary 3 'Law of demand, implies that when there is excess demand for a commodity. then Price of the commodity falls Price of the commodity rises a) b) Price of the commodity remains same d) Quantity demanded of the commodity falls c)
Daily Mock Test (Indian Economy) 4. The Removal of prohibitions and hindrance by government is called a) Globalisation b) Privatisation c) Liberalisation d) None of these 5. A horizontal demand curve is a) Relatively elastic b) Perfectly elastic c) Perfectly inelastic d) Relatively inelastic 6. Which of the following is not the infrastructure Sector? a) Food Production b) Construction of roads c) Power generation d) Expansion of air ports 7. Which of the following sectors contributed more of the savings in India? a) Public Sector b) Household Sector c) Corporate Sector d) Private Sector
Daily Mock Test (Indian Economy) 8. All of the goods which are scarce and limited in supply are called a) Luxury goods b) Expensive goods c) Capital goods d) Economic goods 9. Who determines the price in a Capitalistic Economy? a) Demand and Supply b) Government and Authorities c) Buyers in the market d) Sellers in the market 10. The BRICS New Development Bank (NDB) has been set up for a) Funding infrastructure projects in emerging economics for sustainable development Funding non-infrastructure projects in emerging economics for sustainable b) development Funding infrastructural projects in developed countries Funding infrastructural projects in African countries only c) d)
Daily Mock Test (Indian Economy) 11. The major objective of monetary policy is to? a) Increase government's tax revenue b) Revamp the Public Distribution System c) Promote economic growth with price stability d) Weed out corruption in the economy 12. According to Malthusian theory of populatiorn a) Population increases in geometric ratio, food supply increases in arithmetic ratio b) Population increases in arithmetic ratio, food supply increases in geometric ratio c) Population increases in a harmonic mean, food supply increases in geometric ratio Population increases in a harmonic ratio, food supply increases in a arithmetic ratio d)
Daily Mock Test (Indian Economy) 1. a) Development and Refinance Agency Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015. 2. c) Government . A centrally planned economy is an economic system in which the state or government makes economic decisions rather than the these being made by the interaction between consumers and businesses. 3. c) Price of the commodity rises . The law of demand states that quantity purchased varies inversely with price.
Daily Mock Test (Indian Economy) 4. c) Liberalisation .The economic liberalisation in India refers to the changes and reforms, initiated in 1991, of the country's economic policies, with the goal of making the economy more market-and service-oriented, and expanding the role of private and foreign investment. 5. b) Perfectly elastic . In the case of a product with a horizontal demand curve, elasticity is said to be perfectly elastic. When the price of a perfectly elastic good or service increases above the market price, the quantity demanded falls to zero. a) Food Production (Infrastructure sector is a key driver for the Indian economy. The sector is highly responsible for propelling India's overall development and enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country. Infrastructure sector includes power, bridges, roads and urban infrastructure development.) 6.
Daily Mock Test (Indian Economy) 7. b) Household Sector A higher domestic saving rate makes larger investment possible in an economy and hence is a necessary condition for economic development. 8. d) Economic goods Goods that are scarce (are in limited supply in relation to demand) are called economic goods, whereas those whose supply is unlimited and that require neither payment nor effort to acquire, (such as air, Mining) are called free goods 9. a) Demand and Supply . Capitalism is an economic system in which capital goods are owned by private individuals or businesses In a capitalistic economy the prices of goods, services and labour are determined by supply and demand.