1. What does 'GDP' stand for?
- AGeneral Domestic Product
- BGross Domestic Price
- CGross Domestic Product
- DGross Development Product
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Answer: C
GDP stands for Gross Domestic Product.
Indian Economy — SSC Questions & Practice
Practise 16 Indian Economy questions from SSC for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong.
16 questions · 0 quizzes · free to start
Practice questions on Indian Economy — with answers
Try each question first, then open the answer. Explanations are included.
2. What is the full form of NITI Aayog?
- ANational Institute of Trade and Industry
- BNational Institution for Trade Improvement
- CNational Institution for Transforming India
- DNational Investment and Trade Institution
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Answer: C
NITI Aayog stands for National Institution for Transforming India, a policy think tank replacing the Planning Commission.
3. Who was the Finance Minister of India during the 1991 economic reforms?
- AYashwant Sinha
- BDr. Manmohan Singh
- CP. Chidambaram
- DPranab Mukherjee
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Answer: B
The correct answer is 'Manmohan Singh'.
4. Which sector contributes the most to India's GDP currently?
- AServices Sector
- BIndustrial Sector
- CMining Sector
- DAgriculture Sector
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Answer: A
The correct answer is 'Services sector'.
5. What replaced the Planning Commission of India in 2015?
- ANITI Aayog
- BFinance Commission
- CEconomic Advisory Council
- DGST Council
Show answer
Answer: A
The correct answer is 'NITI Aayog'.
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