Economics Quiz
10 Questions
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Economics Quiz

Created by
@StrikingEducation

Questions and Answers

What are the main factors that give context and set the conditions for an economy to function?

Culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources

What spurs economic activity?

Production using natural resources, labor, and capital

Who can be considered as economic agents?

Individuals, businesses, organizations, or governments

What are the components of the economic domain as per the text?

<p>Social domain of interrelated human practices and transactions</p> Signup and view all the answers

What are the main activities that have changed over time in the economic domain?

<p>Technology, innovation, and changes in industrial relations</p> Signup and view all the answers

What was the rank of India by GDP (nominal) according to the International Monetary Fund (IMF)?

<p>139th</p> Signup and view all the answers

What was the rank of India by GDP (PPP) according to the International Monetary Fund (IMF)?

<p>127th</p> Signup and view all the answers

What was the average annual GDP growth rate in India since the start of the 21st century?

<p>6% to 7%</p> Signup and view all the answers

What percentage of the global economy did India account for in 2022 in PPP terms?

<p>7.2%</p> Signup and view all the answers

What economic policies were promoted by successive Indian governments from independence until 1991?

<p>Protectionist economic policies</p> Signup and view all the answers

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