Explore topic-wise MCQs in Economics.

This section includes 61 Mcqs, each offering curated multiple-choice questions to sharpen your Economics knowledge and support exam preparation. Choose a topic below to get started.

51.

What is correct statement with regard to buffer stocking? I. It is the practice of holding large stocks by government agencies like Food Corporation of India (FCI) and releasing the stocks in the market to counter price rise II. The buffer stock also helps to maintain the Public Distribution System (PDS).

A. Only I
B. Only II
C. Both I & II
D. None of the above
Answer» D. None of the above
Discussion
52.

What are medium term loans? I. These are provided for a period of less than 15 months to meet out expenses of routine farming and domestic consumptions II. These are provided for a period of 15 months to 5 years to purchase agricultural equipments, animals and for land improvements. III. These are provided for a period of more than 5 years.

A. Only II
B. Only I
C. Only III
D. None of the above
Answer» B. Only I
Discussion
53.

Which of the following statements are correct in accordance to Kisan Credit Cards? I. NABARD formulated a model scheme for issue of Kisan Credit Cards (KCCs) to farmers so that they may use them to readily purchase agricultural inputs such as seeds, fertilizers, pesticides, etc. II. These are operated by only commercial banks. III. The scheme has helped in augmenting the flow of short-term crop loans for seasonal agricultural operations of farmers. IV. From January 31, 2006, the scheme has been extended to all types of loan requirements of borrowers of State Cooperative Agriculture Rural Development Banks (SCARDBs).

A. I & II
B. Only IV
C. I, III & IV
D. All the above
Answer» D. All the above
Discussion
54.

What is Co-operative joint farming? I. Where the society holds the land and leases it to individual members II. Where land is irrevocably surrendered to the collective; III. Where the farmers pool their land and reap the economies of scale, although the ownership continues to remain with the individual farmer.

A. I & II
B. Only II
C. Only III
D. None of the above
Answer» D. None of the above
Discussion
55.

What are the functions of NABARD? I. It is associated with policy, planning, operation and even monitoring levels for providing agricultural credit. II. Its primary task is to function as refinancing institution for all types of lending for agricultural and rural development. III. In addition to this, it provides term credit to state co-operative banks, regional rural banks, land development banks and state governments (only for share capital contribution to co-operative credit societies).

A. Only I
B. I & II
C. II & III
D. All the above
Answer» E.
Discussion
56.

NABARD took over the function of which all institutes? I. Agricultural Credit Development (ACD) II. Rural Planning and Credit Cell (RPCC) of RBI III. Agricultural Refinance Development Corporation (ARDC) IV. State Co-operative Agricultural and Rural Development Banks (SCARDBs).

A. I, II & III
B. I & II
C. Only IV
D. All the above
Answer» B. I & II
Discussion
57.

Which of the statement is correct regarding Land Development Banks? I. It provides long term rural credit for land improvement, soil conservation and other investments of a capital nature. II. LDBs have now been renamed as State Co operative Agricultural and Rural Development Banks (SCARDBs) III. They raise their funds through long term debentures offering state government guarantee, and refinancing from NABARD.

A. I & II
B. II & III
C. Only II
D. All the above
Answer» E.
Discussion
58.

What is Co-operative tenant farming? I. Where the society holds the land and leases it to individual members. II. Where land is irrevocably surrendered to the collective. III. Where the farmers pool their land and reap the economies of scale, although the ownership continues to remain with the individual farmer.

A. I & II
B. Only I
C. Only III
D. None of the above
Answer» C. Only III
Discussion
59.

What are the factors that have a definite impact on investment in agriculture? I. Size of holdings II. The pattern of ownership III. The method of inheritance and security of tenure

A. Only I
B. I & II
C. All the above
D. None of the above
Answer» D. None of the above
Discussion
60.

Which of the following is correct statement? I. Agriculture is the primary occupation in India as it provides direct livelihood to 59% of its labour force II. In India, 75% of below the poverty line (BPL) population lives in rural areas, and is directly or indirectly dependent on agriculture. III. Agriculture contributes to more than 13.7% (2013) of GDP, although this share has progressively declined from 57% in 1950-51. IV. In developed countries, like the UK and USA, the share of agriculture in GDP is only around 2%.

A. I & II
B. I & III
C. I, II & III
D. All the above
Answer» E.
Discussion
61.

Which is correct with respect to second green revolution? I. It seeks to minimize post-harvest wastage II. Improve storage and help Indian farmers meet the phyto-sanitary conditions so that they can, participate productively in the global agricultural trade. III. It is assisted by research undertaken by public institutions such as Universities. IV. It is directed by proprietary research and governed by Intellectual Property Rights.

A. I & II
B. I, II & III
C. I, II & IV
D. All the above
Answer» D. All the above
Discussion