Economics is an important topic in the general awareness section of the SSC CGL exam. Preparation of economics for SSC CGL 2025 exam can be good if you learn from previous year question papers. You can expect at least 2-3 questions from economics for SSC CGL tier 1 exam. This blog has provided the economics SSC CGL questions that match the level of questions asked in the exam in a PDF format. You can download the PDF for free, and along with that, we have provided free topic-wise tests, a complete mock test, and preparation tips for economics for SSC CGL exam.
The SSC CGL Tier 1 exam consists of four sections: Quantitative Aptitude, General Intelligence and Reasoning, English Language, and General Awareness. Solving the topic tests of each section is very important if you want to get in-depth knowledge of the individual topic. Below, we have provided the topic tests for each section, including quizzes for current affairs, previous year question papers, and full-length mock tests.
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Economics is the study of how people make choices when goods are limited or we can say it is a study of how resources are produced, distributed, and consumed.
Below, we have provided the questions on economics for SSC CGL exam. These questions were asked in the previous year’s question papers. By preparing these questions, you will be able to determine the type of economics questions asked in the exam.
Economics SSC CGL Question 1
If there is a lack of money supply in comparison to the supply of goods and services, then the possible consequence would be ______.
(a) Hyperinflation
(b) Deflation
(c) Devaluation
(d) Inflation
Economics SSC CGL Question 2
A sustained rise in the general price level in an economy is called _____.
(a) Disinflation
(b) Deflation
(c) Inflation
(d) Stagflation
Economics SSC CGL Question 3
Minimum Support Price (MSP) is recommended by _____.
(a) The Commission for Weights and Measures
(b) The Food Safety and Standards Authority of India
(c) The Farmers’ Welfare Society
(d) The Commission for Agricultural Costs and Prices
Economics SSC CGL Question 4
A _____ occurs when a government’s total expenditures exceed the revenue that it generates, excluding money from borrowings.
(a) Current Account Deficit
(b) Budgetary Deficit
(c) Revenue Deficit
(d) Fiscal Deficit
Economics SSC CGL Question 5
What does the Lorenz Curve indicate?
(a) Relationship between the price of a certain commodity and its demand
(b) Income distribution
(c) Rate of employment
(d) Taxable income elasticity
Economics SSC CGL Question 6
A situation where the expenditure of the government exceeds its revenue is called ____.
(a) Default Financing
(b) Deficit Revenue
(c) Budget Deficit
(d) Default Revenue
Economics SSC CGL Question 7
An economic condition when there is one buyer and many sellers is called ____.
(a) Oligopoly
(b) Monopoly
(c) Perfect Competition
(d) Monopsony
Economics SSC CGL Question 8
What is the name given to the graph that shows all the combinations of two commodities that a consumer can afford at given market prices and within the particular income level in economic terms?
(a) Demand Curve
(b) Isocost Line
(c) Supply Curve
(d) Budget Line
Economics SSC CGL Question 9
In economic terms what do we mean by ‘intermediate goods’?
(a) Goods sold between industries for the resale or production of other goods
(b) Goods in transit before reaching the consumers
(c) Price of goods without GST
(d) Fixed assets used by manufacturers
Economics SSC CGL Question 10
The demand for a commodity or service which is a consequence of the demand for something else is called _____.
(a) Income Demand
(b) Direct Demand
(c) Composite Demand
(d) Derived Demand
Above, we have provided the questions and answers in PDF format that you can download for free. The motive of those questions is to increase your knowledge and preparation for the exam. The SSC CGL is a time-bounded exam, if you want to attempt the exam effectively, then you should practice under time conditions. Below, we have provided the free topic-wise quizzes for general awareness.
Below, we have provided some preparation tips for economics SSC CGL questions. Follow these tips so that you become able to increase your preparation level.
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You can get the questions on economics for SSC CGL exam in this blog.
Important topics include Basic Concepts, Indian Economy, RBI, Money & Banking, Financial Markets, Inflation, Taxation, Unemployment, Poverty, National Income, and International Organizations.
You can expect at least 2-3 questions from Economics in the General Awareness section of SSC CGL Tier 1.
Make short notes, focus on key concepts and data, and regularly revise these notes to retain important information.
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