10 Questions
What is the rank of India by nominal GDP?
Fifth
What led to the adoption of broad economic liberalization in India in 1991?
Acute balance of payments crisis
What economic policies did successive governments follow from independence until 1991?
Soviet model and promoted protectionist economic policies
What has been the annual average GDP growth since the start of the 21st century?
6% to 7%
What percentage of the global economy does India account for in 2022 in PPP terms?
7.2%
What does microeconomics analyze?
Individual agents and markets, their interactions, and the outcomes of interactions
What does macroeconomics analyze?
The economy as a system where production, consumption, saving, and investment interact
What are the broad distinctions within economics?
Positive economics and normative economics
Where can economic analysis be applied?
Business, finance, cybersecurity, health care, engineering, and government
What is the focus of rational economics and behavioural economics?
Rational economics focuses on the assumption that individuals act in their self-interest, while behavioural economics focuses on the psychological and emotional factors influencing economic decisions
Test your knowledge of the Indian economy with this quiz! Explore topics such as GDP, PPP, public sector, and economic development in India. See how much you know about the world's fifth-largest economy by nominal GDP.
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