Welcome to your Economic Quiz for UPSC
Which of the following is the basic economic problem?
In economics, 'demand' refers to:
What does CPI stand for in the context of economics?
Which of the following is a characteristic of a perfectly competitive market?
Who is known as the father of modern economics?
What does LPG in the context of the Indian economy stand for?
Which organization is the lender of last resort for financial institutions?
What does the term 'stagflation' mean in economics?
Which economic theory advocates for minimal government intervention in the economy?
Which of the following is not a factor of production?
What is the formula for calculating GDP?
Which market structure is characterized by a single seller of a product with no close substitutes?
What does the term 'opportunity cost' mean in economics?
Which of the following is a fiscal policy tool used by the government to control inflation?
What does the term 'deflation' mean in economics?
Which international trade theory argues that countries should specialize in the production of goods and services they can produce most efficiently?
In economics, what does the term 'elasticity' measure?
Which of the following is a function of the Central Bank?
What is the main goal of microeconomics?
Which type of unemployment occurs due to changes in the business cycle?
Which of the following is a direct tax in India?
What does the term 'balance of trade' measure?
Which of the following is a characteristic of monopolistic competition?
What does the term 'Gini coefficient' measure?
Which international organization provides technical and financial assistance to developing countries for development projects?
Which economic concept explains the relationship between price and quantity supplied?
What does the term 'marginal cost' represent in economics?
Which of the following is a characteristic of a command economy?
What is the role of the World Trade Organization (WTO) in international trade?
