Economics Practice Quiz 23

Q1.What would happen to farmers' profits if the price of fertilisers or pumpsets goes up?

A. Their profits will be reduced. B. Their profits will remain unchanged. C. Their profits will increase due to higher output value. D. They will receive government subsidies to cover the cost.

Q2.What dual consequence is described in the text if there is a strike by transporters and lorries refuse to take vegetables, milk, etc., from rural areas?

A. Food will become scarce in urban areas, and farmers will be unable to sell their products. B. Farmers will find alternative transport methods, and urban areas will face no issues. C. The government will immediately deploy military transport, and prices will stabilize. D. Rural areas will experience a surplus of food, leading to lower local prices.

Q3.How does the text characterize the relationship between economic activities, even though they are grouped into three different categories?

A. They are highly interdependent. B. They are largely independent. C. They are competitive in nature. D. They operate in isolation from each other.

Q4.The example of farmers refusing to sell sugarcane to a sugar mill, leading to the mill's shutdown, is explicitly identified in the text as showing which type of sectoral dependence?

A. The secondary or industrial sector being dependent on the primary sector. B. The primary sector being dependent on the tertiary sector. C. The tertiary sector being dependent on the secondary sector. D. The primary sector being dependent on the secondary sector.

Q5.Which of the following occupations is listed in the text as belonging to the primary sector?

A. Flower cultivator B. Tailor C. Potter D. Call centre employee

Q6.From the given list in the text, which occupation is an example of the secondary sector?

A. Basket weaver B. Milk vendor C. Fishermen D. Moneylender

Q7.Which of the following occupations is listed in the text as belonging to the tertiary sector?

A. Astronaut B. Gardener C. Bee-keeper D. Workers in match factory

Q8.Which of the following occupations, as per the text, is an example of the tertiary sector?

A. Priest B. Potter C. Flower cultivator D. Fishermen

Q9.According to economists, what is the recommended method to count the total production of diverse goods and services in an economy?

A. Adding up the actual numbers of all goods and services produced. B. Using the values of goods and services rather than their actual numbers. C. Counting only the goods produced by the primary sector. D. Counting only the services provided by the tertiary sector.

Q10.What is the primary precaution mentioned when calculating the total production of goods and services in an economy?

A. Only counting goods produced by large industries. B. Including only the final goods and services. C. Counting only the goods and services sold internationally. D. Excluding all services from the calculation.

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Economics Practice Quiz 23