Mock Test

Exam: BPSC Subject: General Studies Topic: Economics

Total Questions: 20

Q1. Consider a country where Gross Domestic Product (GDP) is $500 billion. Net factor income from abroad is -$50 billion. Indirect taxes less subsidies are $40 billion. Depreciation is $30 billion. What is the country's Net National Disposable Income (NNDI)?

$420 billion $450 billion $470 billion $520 billion
Q2. Which SDG focuses on ending hunger, achieving food security and improved nutrition, and promoting sustainable agriculture?

SDG 1: No Poverty SDG 2: Zero Hunger SDG 3: Good Health and Well-being SDG 4: Quality Education
Q3. A mixed economy allows for:

Only government-owned businesses Only privately-owned businesses Both private and public enterprise No business ownership at all
Q4. Which international organization plays a role in managing the global financial system and assisting countries with balance of payments difficulties?

World Trade Organization (WTO) International Monetary Fund (IMF) World Bank United Nations (UN)
Q5. A firm in perfect competition earns zero economic profit in the long run because:

It has a patent There are high barriers to entry There are no barriers to entry or exit It engages in aggressive advertising
Q6. What is the term for an economic system where goods and services are exchanged for other goods and services?

Capitalism Barter System Monetarism Mercantilism
Q7. The Bihar budget typically includes proposals for...

Changes in tax rates Reductions in government services Withdrawal of public schemes Increased administrative costs
Q8. Which of the following best describes economies of scope?

Cost savings achieved by increasing the scale of production of a single good. Cost savings achieved by producing multiple goods or services jointly. Cost savings achieved through technological advancements in production. Cost savings achieved by reducing the average cost of production.
Q9. The 'gender dividend' is a concept directly linked to inclusive growth. What does it primarily refer to?

The increased economic output resulting from equal participation of women in the workforce and decision-making. The financial benefits received by women from government welfare programs. The wage gap between men and women in the formal sector. The impact of international aid targeted at women's empowerment.
Q10. Which of the following is an example of a natural resource?

A factory A computer A river A car
Q11. The Indian Industrial Commission was appointed in:

1901 1911 1916 1920
Q12. The 'Bihar Industrial Policy, 2016' introduced a dedicated policy for the MSME sector. What was a major thrust of this policy?

Mandatory backward integration for all MSMEs. Creation of dedicated industrial parks with common facilities for MSMEs. Reduction of collateral requirements for MSME loans. Encouraging MSMEs to focus solely on export markets.
Q13. Which of the following is a significant challenge for urban transportation systems in rapidly growing cities?

Underutilization of public transport Decreasing traffic congestion Increasing demand due to population growth Availability of ample parking spaces
Q14. What is the role of an entrepreneur?

To simply provide labor To manage existing businesses To combine other factors of production and take risks to create new goods and services To collect taxes
Q15. Which of the following schemes aims to promote skill development in rural areas for employability?

Swachh Bharat Abhiyan Deen Dayal Upadhyaya Grameen Kaushal Yojana (DDU-GKY) National Urban Livelihoods Mission Pradhan Mantri Awas Yojana
Q16. The 'current account balance' reflects a country's net position in:

International capital flows International trade of goods and services and income Official foreign exchange reserves Foreign direct investment and portfolio investment
Q17. What is 'division of labor'?

One person doing all tasks Breaking down a production process into many small, specialized tasks Avoiding any specialization Producing goods without any workers
Q18. The SDGs were adopted by all United Nations Member States in what year?

2000 2015 2020 2030
Q19. Which cost curve is typically U-shaped?

Average Fixed Cost (AFC) Marginal Cost (MC) Average Variable Cost (AVC) Total Cost (TC)
Q20. What is a key issue in ensuring inclusive healthcare access?

High cost of medical services Availability of affordable and quality healthcare for all Limited number of hospitals Focus on specialized treatments only

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