Mock Test

Exam: BPSC Subject: General Studies Topic: Economics

Total Questions: 20

Q1. Which of the following is an example of a capital good?

A loaf of bread A television set for personal use A factory machine A movie ticket
Q2. If the government provides a subsidy for the production of a good, what is the likely effect on the market?

Supply decreases, price increases. Demand increases, price decreases. Supply increases, price decreases. Demand decreases, price increases.
Q3. Which of the following is a key objective of Bihar's industrial policies?

Promoting agriculture alone Boosting industrial growth and employment Restricting small-scale industries Encouraging emigration
Q4. Which thermal power plant is a major source of electricity in Bihar?

Nabinagar Thermal Power Plant Barauni Thermal Power Station Kahalgaon Super Thermal Power Station Munger Thermal Power Plant
Q5. A change in technology that improves production efficiency would likely lead to:

A decrease in supply. An increase in demand. An increase in supply. A decrease in demand.
Q6. The Mahalanobis model, which influenced the Second Five-Year Plan, advocated for:

Labor-intensive industrialization Capital-intensive industrialization with a focus on heavy industries Agricultural self-sufficiency Development of the tertiary sector
Q7. Which stage of the consumer decision-making process involves recognizing a difference between an actual and a desired state?

Information search. Evaluation of alternatives. Need recognition. Purchase decision.
Q8. The 'Make in India' initiative launched in 2014 aimed to:

Promote the services sector Boost manufacturing and job creation Encourage import of finished goods Reduce foreign investment
Q9. The Munger-Bhagalpur bridge connects which two districts of Bihar?

Munger and Vaishali Munger and Begusarai Munger and Bhagalpur Patna and Munger
Q10. The 'Startup India' initiative aims to foster innovation and entrepreneurship in various sectors, including manufacturing. Which of the following is a LEAST likely outcome of a successful 'Startup India' program in the manufacturing sector?

Increased adoption of new technologies and business models. Higher levels of competition and innovation. A decline in the demand for traditional manufacturing skills. Creation of new employment opportunities in niche manufacturing segments.
Q11. What does 'emissions trading' involve?

Government directly setting emission limits for each company Companies paying a tax based on their emissions Companies buying and selling permits to emit pollutants Companies voluntarily reducing their emissions
Q12. Which SDG aims to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and biodiversity loss? This is a repeat for review.

SDG 13: Climate Action SDG 14: Life Below Water SDG 15: Life on Land SDG 16: Peace, Justice and Strong Institutions
Q13. Which of the following is a key indicator of rural development?

Increase in urban migration Improvement in literacy rates and access to education Decrease in agricultural output Expansion of informal sector employment
Q14. The Economic Survey might discuss the impact of 'Tax Buoyancy'. This term refers to:

The tendency of tax revenues to fall when GDP grows. The responsiveness of tax revenues to changes in GDP or economic activity. The reduction in tax rates by the government. The accumulation of unpaid taxes.
Q15. Which of the following industries saw some development during the late British period?

Cotton textiles Jute industry Coal mining All of the above
Q16. What is the term for the economic policies that countries agree to implement in exchange for IMF financial assistance?

Structural adjustment programs Fiscal stimulus packages Monetary easing policies Trade liberalization agreements
Q17. When the price elasticity of demand is equal to 1, the demand is:

Elastic Inelastic Unit elastic Perfectly elastic
Q18. The Board of Governors of the IMF is responsible for:

Approving individual country loan programs Appointing the Managing Director of the IMF The ultimate decision-making authority of the IMF Conducting day-to-day operations of the IMF
Q19. Stagflation is a situation characterized by:

High inflation and low unemployment. Low inflation and high unemployment. High inflation and high unemployment. Low inflation and low unemployment.
Q20. Globalization has led to greater competition among Indian banks and financial institutions. This generally results in:

Less efficient banking services Higher interest rates for borrowers Improved efficiency and customer service Reduced access to credit

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