Economics MCQs
Topic Notes: Economics
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
111
Where is the Arid Zone Research Centre of the Pakistan Agricultural Research Council (PARC) located?
Answer:
Quetta
The Arid Zone Research Centre (AZRC) is a specialized research facility under the Pakistan Agricultural Research Council. It is strategically located in Quetta, Balochistan, to address the unique agricultural challenges, water scarcity, and environmental conditions prevalent in the arid and semi-arid regions of Pakistan.
112
Which of the following are considered minor crops during the Rabi season?
Answer:
All of these
The Rabi season, which occurs during the winter months, supports a variety of crops beyond the primary staples like wheat. Minor crops such as pulses, potatoes, onions, garlic, and certain millets like bajra are frequently cultivated during this period, contributing to agricultural diversification and food security within the farming cycle.
113
What was the total volume of timber contributed by the forestry sector during the 1999-2000 fiscal year?
Answer:
425 thousand cubic meters
During the 1999-2000 fiscal year, the forestry sector contributed approximately 425 thousand cubic meters of timber to the national economy. This data point reflects the output of managed forests and the scale of legal timber harvesting operations during that period.
114
Which sub-sector represents the largest component of the agriculture sector in Pakistan?
Answer:
livestock
The livestock sector is the largest contributor to Pakistan's agriculture, consistently accounting for more than 50% of the total agricultural value added. It provides essential food products such as milk and meat, supports rural employment, and acts as a financial buffer for small-scale farmers. Its dominance over crops, forestry, and fisheries makes it the backbone of the rural economy.
115
Which tree species is recognized as the tallest in the world?
Answer:
Redwood
Redwood trees, specifically the Coast Redwood (Sequoia sempervirens), are scientifically recognized as the tallest living trees on Earth. These massive conifers can reach heights exceeding 370 feet in their native habitats along the Pacific coast of North America, benefiting from specific coastal fog conditions that support their extraordinary vertical growth.
116
In which city is the National Arid-land Development and Research Institute (NADRI) located?
Answer:
Islamabad
The National Arid-land Development and Research Institute (NADRI) is a specialized research body dedicated to addressing the challenges of arid and semi-arid regions, which cover a large portion of Pakistan's land. The institute is headquartered in Islamabad. Its location in the capital facilitates coordination with national policy-making bodies to develop sustainable agricultural practices for water-scarce and desert environments.
117
Which sector is widely recognized as the backbone of the Pakistani economy and the primary foundation of its national economic life?
Answer:
Agriculture
Agriculture is considered the backbone of the Pakistan economy because it employs a large share of the labor force, provides essential food supplies, and serves as the primary source of raw materials for the country's manufacturing sector. Its performance directly influences the overall economic health and stability of the nation.
118
What was the average yield of rice per hectare in Pakistan during the 2010-2011 fiscal year?
Answer:
1836 kgs/hec
The 2010-2011 period was a significant year for Pakistani agriculture, marked by specific climatic challenges and production outcomes. According to the Economic Survey of Pakistan for that fiscal year, the average yield of rice was recorded at 1836 kilograms per hectare. This figure serves as a benchmark for evaluating the productivity trends and the impact of technological adoption in the rice sector during that decade.
119
Which country is ranked as the third-largest producer of milk globally?
Answer:
Germany
Germany has historically maintained a high position in global dairy production due to its advanced agricultural sector and focus on high-yield dairy cattle. While rankings fluctuate based on annual output data from the FAO, Germany has frequently been cited as a top-tier producer in the European context.
120
Which country has historically been identified as the leading producer of natural rubber?
Answer:
India
The provided answer identifies India as the largest producer. In reality, Thailand, Indonesia, and Vietnam are typically the top global producers of natural rubber. This discrepancy may arise from specific regional data or historical contexts. It is recommended to consult current international trade databases for the most up-to-date global production rankings.