Indian Polity Mock Test 2nd

1.what is the Position of India by GDP according to IMF list, 2012
(A) Third
(B) Fifth
(C) Tenth
(D) Twelve

2. Which one from below is one of the four cities where coins are produce
(A) Pune
(B) Bangalore
(C) Hyderabad
(D) Chennai

3. Which bank is the first to interduce ATM in india
(D)UCO Bank

4. Which sector is the largest source of employment in India ?

5. Which sector is the second largest source of employment in India ?

6.When first Economic Census was done in India ?

7.Who presented the first Union Budget of Independent India ?
(A)C.D Deshmukh
(B)John Mathai
(C)Morarji Desai
(D)R.K Shanmukham Chetty

8. In 2013 Union budget of India in which category highest amount of money is allocated ?

9. Which one is the largest sources of revenue for the indian Government ?
(A)Sales Tex
(B)Excise Duties
(C)Income Tax
(D)Non of the above

10. When the Value Added Tax was first interduce in India ?

11. The Horizontal demand curve parallel to x-axis implies that the elasticity of demand is ?
(C)Equal to 1
(D)Greater then zero but less than infinity

12.An Individual demand curve slopes downward to the right because of the ?
(A)working of the law of diminishing marginal utility
(B)Substitution effect of decrease in price
(C)Income effect of fall in price
(D)All of the above

13. Income elasticity of demand is defined as the responsiveness of
(A)Quantity demanded to a change in income
(B)Quantity demanded to a change in price
(C)Price to a change in income
(D)Income to change in quantity demanded

14. The supply of a good refers to:
(A)Stock available for sale
(B)Total stock in the warehouse
(C)Actual Production of the good
(D)Quantity of the good offered for sale at particular price per unite

15. The cost of one thing in terms of the alternative given up is called ?
(A)Real cost
(B)Production Cost
(C)Physical Cost
(D)Opportunity Cost