Economic Development
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Economic Development questions with answers

3,293 multiple-choice questions. Open any question for its answer and explanation.

Questions asked in State PSC and UPSC prelims, by topic. Each topic also has notes to read.

  1. Who is the author of the book 'The Accumulation of Capital' ?Asked in UKPSC CS Prelims 2012
  2. Match List-I with List-II and choose the correct answer using the codes given below the lists: List-I List-II (Economist/ (Book) Author) 1. Economic Theory and Under-Asked in UPPCS Prelims 2024
  3. With reference to Economic Growth, which of the following statements is/are correct? 1. Indian Economy is an Underdeveloped Economy. 2. Indian Economy is a Mixed Economy. 3. J.M. Keynes is the Father of Economics. Select the correct answer from the codes given below:Asked in UPPCS Prelims 2024
  4. When a fall in price of a commodity reduces total expenditure and a rise in price increases it, price elasticity of demand will be :Asked in UPSC CAPF 2014
  5. The rate at which the consumer is willing to substitute one good for another without changing the level of satisfaction is known as :Asked in UPSC CAPF 2014
  6. Which of the following factors affects an individual’s demand for a commodity? 1. Price of the commodity 2. Income of the consumer 3. Prices of related goods Select the correct answer using the code given below:Asked in UPSC CAPF 2014
  7. According to the Law of Diminishing Returns, in a production function when more and more units of the variable factor are used, holding the quantities of a fixed factor constant, a point is reached beyond whichAsked in UPSC CAPF 2019
  8. Zero price elasticity of demand meansAsked in UPSC CAPF 2019
  9. Suppose that the price of a commodity increases from ₹ 90 to ₹ 110 and the demand curve shows that the corresponding reduction in quantity demanded is from 240 units to 160 units. Then, the coefficient of the price elasticity of demand will beAsked in UPSC CAPF 2019
  10. Which one of the following is an example of a price ceiling?Asked in UPSC CAPF 2019
  11. Which one of the following statements is true with regard to an economy which is on its production possibility frontier?Asked in UPSC CAPF 2019
  12. Who coined the concept of “Paradox of Thrift”?Asked in UPSC CAPF 2019
  13. Kumar used to eat 30 samosas in a month when the price of each samosa was ₹12. When the price of samosa increased to ₹15 per piece, he eats only 20 samosas a month. What is the price elasticity of demand for samosa by Kumar ?Asked in UPSC CAPF 2020
  14. Which one among the following statements is not correct?Asked in UPSC CAPF 2021
  15. On the basis of employment conditions, the economy is divided intoAsked in UPSC CAPF 2021
  16. The ‘Stand-Up India Scheme’ is related to which one of the following issues?Asked in UPSC CAPF 2022
  17. Which of the following are High Frequency Indicators of the Indian economy ? Power Consumption 1. IIP General Index 2. 10-year G-sec yield 3. Select the correct answer using the code below.Asked in UPSC CAPF 2023
  18. Consider the following statements regarding Public Goods and Externalities : 1. Non-rivalry and non-excludability are two characteristics of Public Goods 2. Market can provide the optimal amount of a good in the presence of externalities Which of the statements given above is/are correct ?Asked in UPSC CAPF 2024
  19. Disguised unemployment generally meansAsked in UPSC IAS 2013
  20. Economic growth in country X will necessarily have to occur ifAsked in UPSC IAS 2013
  21. With reference to inflation in India, which of the following statements is correct?Asked in UPSC IAS 2015
  22. Despite being a high saving economy, capital formation may not result in significant increase in output due toAsked in UPSC IAS 2018
  23. Consider the following statements: Other things remaining unchanged, market demand for a good might increase if price of its substitute increases price of its complement increases the good is an inferior good and income of the consumers increases its price falls Which of the above statements are correct?Asked in UPSC IAS 2021
  24. What is the current status of India's economy in terms of market classification by the World Bank and the International Monetary Fund?Asked in UPSC Combined Section Officer 2019 20
  25. Consider the following statements: The major traits of depression could be as given below: an extremely low aggregate demand in the economy causes activities to decelerate the inflation being comparatively lower the employment avenues start shrinking forcing unemployment rate to grow fast Which of the above statements are correct ?Asked in UPSC SO Steno 2018