Online Economics GK Questions Quiz

Welcome to DataFlair Economics Gk Questions Quiz. This is an important quiz as it covers major economics topics like forms of protection and Balance of Payment Adjustments with different approaches.

Before you start this online Economics Quiz, do not forget to check other parts of Economics Quizzes from the series of 10+ quizzes. All these quizzes will help you in revising Economics for UPSC:

• Economics Quiz – 9
  
• Economics Quiz – 10
  
• Economics Quiz – 11

So let us start the quiz!!!

All the best!!!

Summary

This Economics GK Questions quiz was an attempt by us to make you estimate your preparation and mark your strong and weak points.

Though the UPSC optional exam will contain the real-life situation and case study based questions but to answer them one needs to be strong with the basics.

The quiz contained questions related to the practice of protectionism.

Protectionism is a way in which a country keeps an eye over the imports and the exports that take place at the international borders. You might have also come across questions relating to world trade organization and classical and modern theories of balance of payments. 

BOP holds an important place in the working of a country and in case of disequilibrium the foremost concern of any government is to bring it back to the equilibrium. BOP is a statement that measures the inflow and outflow of money in a country.

One of the major confusion that students face is the relation between GATT and WTO.WTO came after the introduction of GATT and it replaced GATT, but GATT still falls under the umbrella of WTO. We wish you luck for your exam.