General Economics Quiz for Economics Tests

Here is another interesting General Economics Quiz. Let us start the quiz and assess our Economics Knowledge.

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 – 7
  
• Economics Quiz – 8
  
• Economics Quiz – 9

All the Best!!!

Summary

We bet, either you came out of the quiz gaining back all the confidence and the assurance of losing it all.

In either of the cases, we hope the quiz helped you make a certain decision about your further course of study. One needs to understand that public finance is divided into five sections that are, the public revenue, public expenditure, public department, fiscal policy, and financial administration.

The public finance has three functions which are, stabilizing, allocating, and distributing. Budget Surplus is a situation when the receipts are more than the expenditures.

However, deficit spending is when the amount spent is more than the amount of revenue at that time. International trade is one of the most important activities that a nation undergoes. It helps the nation to escalate its GDP and aids its growth.

The terms of trade help to determine the International ratio which makes the evaluations better to understand and helps in taking the corrective measures. Wishing all the aspirants of the UPSC good luck and an even better preparation! 

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