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Indian Economy Quiz 3

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Indian Economy and Finance Online Test

  • This is an online quiz to test your knowledge of Indian Economy and Finance.
  • This Online Test is useful for academic and competitive exams.
  • Multiple answer choices are given for each question in this test. You have to choose the best option.
  • After completing the test, you can see your result.
  • There are 10 questions in the test.
  • There is no negative marking for wrong answers.
  • There is no specified time to complete this test.
  • EduDose has provided this test in both English and Hindi medium.

Demand of commodity mainly depends upon:

The demand for a good or service depends on two factors: (1) its utility to satisfy a want or need, and (2) the consumer's ability to pay (Purchasing power) for the good or service.

Disinvestment in Public Sector is called:

Disinvestment in Public sector is a process of public asset sales done by the Government to the private sector.

Which of the following taxes is exclusively and totally assigned to the Central Government by the Constitution?

Article 269 of the Indian Constitution deals with Taxes levied and collected by the Union but assigned to the States.

A closed economy is one which:

A closed economy is one that has no trading activity with outside economies. The closed economy is therefore entirely self-sufficient, which means no imports come into the country and no exports leave the country.

A seller or buyer protects his business or holdings from changing prices and takes action against it. It is known as:

Using Defence Strategies a seller or buyer protects his business or holdings from changing prices and takes action against it.

Which one of the following does not deal with export promotion?

A Cooperative Marketing Society does not deal with export promotion. It provides market finance to farmers and ensures better returns to their produce. Besides marketing, society can act as an agent of credit co-operative society and help to recover loans advanced by credit societies.

Who is responsible to collect the Goods and Services Tax (GST)?

The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. The Central Board of Indirect Taxes and Customs is the nodal national agency responsible for administering Customs, GST, Central Excise, Service Tax and Narcotics in India.

The definition of 'small-scale industry' in India is based on:

Small Scale Industries (SSI) are those industries in which the manufacturing, production and rendering of services are done on a small or micro scale. These industries make a one-time investment in machinery, plant, and equipment, but it does not exceed ₹. 10 crore and annual turnover does not exceed ₹. 50 crore.

Special Drawing Rights (SDR) facility is available at:

Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are units of account for the IMF, and not a currency per se. They represent a claim to currency held by IMF member countries for which they may be exchanged.

What is referred to as “Depository Services”?

A depository is an organization where the securities of an investor are held in electronic form.

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