List of top Economics Questions

Giving valid reasons, state whether the following statements are true or false.
There was growth in agricultural sector due to expansion of aggregate area under cultivation, during the colonial era.
The objective of World Trade Organisation (WTO) is to establish a rule based regime, in the world trade.
Economic growth with regional disparity was the main goal of planning in India.

“A significant proportion of subsidies on fertilizer was a key component of the fiscal statement of the Central Government for year 2023–24.”
Identify the nature of government expenditure and its objective.

"In the mountainous regions, mini-hydel plants prove to be cost effective as well as eco-friendly."
Justify above statement with valid arguments.

Calculate the value of Net Value Added at Factor Cost (NVAFC):

S. No.	Particulars	Amount (In ₹ crore)
(i)	Operating Surplus	3,740
(ii)	Increase in unsold stock	600
(iii)	Sales	10,625
(iv)	Purchase of raw materials	2,625
(v)	Consumption of fixed capital	500
(vi)	Subsidies	400
(vii)	Indirect taxes	1,200

Distinguish between:
Tariff and Non-tariff Barriers
Bilateral and Multilateral Trade

Explain the reasons behind less number of regular salaried employees in rural areas as compared to urban areas.

Trace the relationship between Human capital and Economic growth.

Define Absorptive capacity.

Describe briefly a rationale behind choosing 'Self-reliance' as a planning objective for the Indian economy.

Giving valid reasons, state whether the following statements are true or false.
(i) India followed unbalanced growth during the colonial rule.
(ii) The economic policies implemented in India between 1950–1990 sought to promote regional equality.
(iii) India has become a favourable destination of outsourcing in the post-1991 period.

Explain how, Goods and Services Tax (GST) has simplified the multiplicity of taxes on goods and services.

"Bio-pesticides help to reduce the ill-impacts of green revolution on soil and water bodies while promoting sustainable development." Justify the given statement with valid explanation.

Describe the path of developmental initiatives taken by Pakistan for its economic development.

Study the following image carefully and identify the trade practice that has successfully replaced foreign goods with domestic production.

_______ refers to a trade policy aimed at reducing reliance on imported goods by encouraging domestic production.

Read the following statements carefully: Assertion (A) and Reason (R). Choose the correct option from those given below:
Assertion (A): Human capital formation increases the rate of participation of population to economic activities and leads to economic growth.
Reason (R): Rate of participation of people refers to the percentage of people engaged in production process of a country.

Read the following statements carefully: Assertion (A) and Reason (R). Choose the correct option from those given below:
Assertion (A): Prior to economic reforms, public investment in social infrastructure by China resulted in better Human Development Indicators (HDI).
Reason (R): China is ahead of India and Pakistan on many Human Development Indicators (HDI).

From the following terms given in Column-I, match the correct pair of meaning given in Column-II:

Column-I	Column-II
(a) Human Development Indicator	(ii) Constitutional Protection
(b) Demographic Indicator	(i) Rule of Law
(c) Special Economic Zone	(iii) Generation of additional economic activities
(d) Commune System	(iv) Collective industrialisation

"Cooperatives have received a setback during the recent past." Justify the given statement with valid explanation.

From the terms given below in Column-I and Column-II, choose the correct pair of statements:

Column-I	Column-II
(i) Subsidies	(b) Element of IPR 1956
(ii) Land ceiling	(c) Land to the tiller
(iii) Small Scale Industries	(d) Change in social outlook
(iv) Modernisation as a goal of five year plan	(a) Maximum quantity of goods that can be imported

Statement 1: Hired workers may be regular salaried workers or casual workers.
Statement 2: Regular salaried employment is a major source of employment in rural areas in India.
In the light of the given statements, choose the correct option from the following:

____ sector was the primary focus of the Great Leap Forward in China. (Fill up the blank with correct option)

Identify and select the recent phenomenon in which demand for resources surpasses their supply.