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
221
What is Pakistan's current global ranking in terms of total wheat production?
Answer:
Eighth
Pakistan consistently ranks among the top ten wheat-producing nations in the world. Specifically, it holds the eighth position globally. Given that wheat is the primary staple crop, this production level is crucial for maintaining food security for a large and growing population. The government frequently monitors these production levels to manage domestic supply chains and determine import or export requirements.
222
Among the listed nations, which is the primary producer of barley?
Answer:
Canada
Canada is recognized as a leading global producer of barley. The country's agricultural sector benefits from vast arable land and a climate conducive to cereal crop cultivation. Barley production is a vital component of the Canadian economy, contributing significantly to both domestic livestock feed requirements and international export markets.
223
If cotton contributes 11.5% to the agricultural value-added sector, what is its approximate percentage contribution to Pakistan's total GDP?
Answer:
2.7%
Cotton is a cornerstone of Pakistan's economy. Its contribution to GDP is derived by calculating its share of the agricultural sector's total output. Given that the agriculture sector typically comprises about 20-24% of the total GDP, an 11.5% share within agriculture mathematically results in a contribution of approximately 2.7% to the national GDP, highlighting its importance as a cash crop.
224
What percentage of agricultural land in Pakistan is irrigated through tube-wells, ponds, and rainwater?
Answer:
25%
Irrigation is the backbone of Pakistan's agriculture, as the country relies heavily on artificial water sources due to erratic rainfall. While the canal system is the primary source, a significant portion of the land—approximately 25%—is irrigated through alternative methods such as tube-wells, ponds, and direct rainwater harvesting. These methods are essential for sustaining crop production in areas where canal water access is limited or unavailable.
225
Among the following agricultural products, which one is distinct from the others based on its classification as a crop?
Answer:
Coffee
Coffee is typically classified as a plantation or cash crop requiring specific processing, whereas fruits and sugarcane are often categorized differently in agricultural production statistics. This distinction often separates them in economic analysis regarding land use and market cycles.
226
Which nation is ranked second in the world for cattle production?
Answer:
China
China maintains a very large cattle population, ranking second globally. This is driven by the country's increasing demand for beef and dairy products as dietary habits evolve. The government has invested in modernizing livestock farming to increase efficiency and meet the needs of its large population, solidifying its position as a major player in global cattle production.
227
What is the approximate contribution of the forestry sector to Pakistan's Gross Domestic Product (GDP)?
Answer:
0.1%
The forestry sector contributes approximately 0.1% to Pakistan's total GDP. While this percentage appears small, the sector provides critical ecosystem services, non-timber forest products, and raw materials that are essential for the broader agricultural and industrial economy.
228
Which agricultural crop is most susceptible to the fungal disease known as blast?
Answer:
Rice
Blast is a devastating fungal disease caused by Magnaporthe oryzae that primarily affects rice crops. It causes significant damage to the plant's leaves, nodes, and panicles. This disease is particularly problematic in warm and humid climates where rice is commonly cultivated, often leading to substantial yield losses.
229
The Nara Canal is located in which province of Pakistan?
Answer:
Sindh
The Nara Canal is a major irrigation artery situated in the Sindh province of Pakistan. It originates from the Sukkur Barrage on the Indus River and flows through the eastern part of the province. It is critical for sustaining agricultural activities in the region, providing necessary water to vast tracts of land that would otherwise remain arid.
230
What is the specific term for agricultural products grown primarily for sale in the market rather than for personal consumption?
Answer:
Cash crop
A cash crop is an agricultural product cultivated specifically for its market value and profit potential. Unlike subsistence farming, where the primary goal is to feed the farmer's family, cash crop production is integrated into the commercial economy. Examples include cotton, coffee, and sugarcane, which are essential for generating foreign exchange and supporting industrial raw material requirements.