{"id":254432,"date":"2026-10-17T00:58:30","date_gmt":"2026-10-16T19:28:30","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=254432"},"modified":"2026-10-17T00:58:31","modified_gmt":"2026-10-16T19:28:31","slug":"upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/","title":{"rendered":"Attempt UPSC EPFO APFC Indian Economy Conceptual &amp; Numerical Quiz"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#What_topics_are_covered_in_the_UPSC_EPFO_APFC_Indian_Economy_quiz\" >What topics are covered in the UPSC EPFO APFC Indian Economy quiz?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#Download_UPSC_EPFO_APFC_Indian_Economy_Practice_Quiz_PDF\" >Download UPSC EPFO APFC Indian Economy Practice Quiz PDF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#Attempt_UPSC_EPFO_APFC_Indian_Economy_Practice_Quiz\" >Attempt UPSC EPFO APFC Indian Economy Practice Quiz<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#Sign_Up\" >Sign Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#Login\" >Login<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#Forgot_Password\" >Forgot Password<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#i\" >&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#What_types_of_Indian_Economy_questions_were_asked_in_the_previous_year_EPFO_APFC_exam\" >What types of Indian Economy questions were asked in the previous year EPFO APFC exam?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#How_should_you_prepare_for_Indian_Economy_for_the_UPSC_EPFO_APFC_exam\" >How should you prepare for Indian Economy for the UPSC EPFO APFC exam?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Preparing for the UPSC EPFO APFC exam requires a clear understanding of Indian Economy concepts, government policies, and important economic developments. Practising conceptual and numerical questions can help you improve your accuracy, strengthen basic concepts, and prepare for exam-level questions. <\/p>\n\n\n\n<p>The UPSC EPFO APFC Indian Economy Quiz covers important areas such as economic growth, poverty, employment, inflation, monetary policy, fiscal policy, industrial policy, and international economic relations. Attempt the quiz to test your preparation, identify weak areas, and revise important topics. You can also use the PDF for convenient revision and practice.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-topics-are-covered-in-the-upsc-epfo-apfc-indian-economy-quiz\"><span class=\"ez-toc-section\" id=\"What_topics_are_covered_in_the_UPSC_EPFO_APFC_Indian_Economy_quiz\"><\/span>What topics are covered in the UPSC EPFO APFC Indian Economy quiz?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The quiz is designed around the major areas of the Present Trends in Indian Economy syllabus. It includes conceptual questions to test your understanding of economic terms, policies, and institutions, along with numerical questions to develop your calculation skills.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/upsc-epfo-apfc-mock-test\/?ref=contac-upsc-epfo-indian-eco-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt A Free UPSC EPFO APFC Mock Test Today!<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Download_UPSC_EPFO_APFC_Indian_Economy_Practice_Quiz_PDF\"><\/span>Download UPSC EPFO APFC Indian Economy Practice Quiz PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Download the UPSC EPFO APFC Indian Economy Practice Quiz PDF to revise important economic concepts and practise conceptual and numerical questions based on the exam syllabus.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th>Particulars<\/th><th>Link<\/th><\/tr><tr><td>UPSC EPFO APFC Indian Economy Practice Quiz PDF<\/td><td><a href=\"https:\/\/www.oliveboard.in\/upsc-epfo-prep-kit\/?ref=contac-upsc-epfo-indian-eco-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download Now<\/a><\/td><\/tr><tr><td>UPSC EPFO APFC Previous Year Papers<\/td><td><a href=\"https:\/\/www.oliveboard.in\/upsc-epfo-apfc-eo-ao-pyp-kit\/?ref=contac-upsc-epfo-indian-eco-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download Now<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Attempt_UPSC_EPFO_APFC_Indian_Economy_Practice_Quiz\"><\/span>Attempt UPSC EPFO APFC Indian Economy Practice Quiz<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Practise Indian Economy MCQs through a quiz designed for the UPSC EPFO APFC exam. Test your knowledge of economic growth, demand and supply, poverty, employment, inflation, monetary and fiscal policy, government schemes, industrial development, and international economic relations. <\/p>\n\n\n\n<!DOCTYPE html>\n<html lang=\"en\">\n<head>\n<meta charset=\"UTF-8\">\n<link rel=\"stylesheet\" href=\"https:\/\/courses.oliveboard.in\/edge\/css\/login-modal-for-blog.css\">\n\n<style>\n#quiz-1-sticky-header {\n  position: sticky;\n  top: 0;\n  z-index: 100;\n  background: #1565c0;\n  color: #fff;\n  padding: 12px 20px;\n  border-radius: 10px 10px 0 0;\n  display: flex;\n  justify-content: space-between;\n  align-items: center;\n  font-size: 16px;\n  font-weight: bold;\n  box-shadow: 0 2px 8px rgba(0,0,0,0.2);\n  margin: -20px -20px 20px -20px;\n}\n\n#quiz-1-score-badge {\n  background: rgba(255,255,255,0.2);\n  padding: 4px 12px;\n  border-radius: 20px;\n  font-size: 15px;\n  white-space: nowrap;\n}\n#quiz-1 * { box-sizing: border-box; }\n\n#quiz-1 .quiz-container {\n  max-width: 700px;\n  margin: auto;\n  padding: 20px;\n  background: #fff;\n  border-radius: 14px;\n  box-shadow: 0 6px 16px rgba(0,0,0,0.12);\n}\n\n#quiz-1 h2 {\n  text-align: center;\n}\n\n#quiz-1 .question {\n  margin-bottom: 22px;\n}\n\n#quiz-1 .question p {\n  font-weight: bold;\n}\n\n#quiz-1 button {\n  width: 100%;\n  padding: 12px;\n  margin: 6px 0;\n  border: none;\n  border-radius: 6px;\n  background: #e0e0e0;\n  color: #000;\n  font-size: 16px;\n  cursor: pointer;\n}\n\n#quiz-1 button:hover {\n  background: #d5d5d5;\n}\n\n#quiz-1 button.correct {\n  background: #4caf50;\n  color: #000;\n}\n\n#quiz-1 button.wrong {\n  background: #f44336;\n  color: #000;\n}\n\n#quiz-1 button.locked {\n  pointer-events: none;\n}\n\n\/* SUMMARY *\/\n#quiz-1 .final-summary {\n  margin-top: 40px;\n  padding: 20px;\n  border-radius: 14px;\n  background: #fafafa;\n  border: 2px solid #4caf50;\n}\n\n#quiz-1 .final-summary h3 {\n  text-align: center;\n  margin-bottom: 20px;\n}\n\n#quiz-1 .summary-row {\n  display: grid;\n  grid-template-columns: 120px 1fr 40px;\n  gap: 10px;\n  align-items: center;\n  margin-bottom: 12px;\n  font-weight: bold;\n}\n\n#quiz-1 .summary-bar {\n  height: 14px;\n  background: #ddd;\n  border-radius: 10px;\n  overflow: hidden;\n}\n\n#quiz-1 .bar-fill {\n  height: 100%;\n  width: 0%;\n}\n\n#quiz-1 .bar-attempted { background: #2196f3; }\n#quiz-1 .bar-correct { background: #4caf50; }\n#quiz-1 .bar-wrong { background: #f44336; }\n#quiz-1 .bar-unattempted { background: #9e9e9e; width: 100%; }\n\n#quiz-1 .final-score {\n  text-align: center;\n  font-size: 22px;\n  margin-top: 20px;\n}\n\n#quiz-1 .score-value {\n  font-size: 30px;\n  margin-left: 8px;\n}\n<\/style>\n<\/head>\n\n<body>\n<div id=\"quiz-1\">\n  <div class=\"quiz-container\">\n<div id=\"quiz-1-sticky-header\">\n  <span> UPSC EPFO APFC Indian Economy Practice Quiz <\/span>\n  <span id=\"quiz-1-score-badge\">Score: <strong id=\"quiz-1-score-value\">0.00<\/strong><\/span>\n<\/div>\n\n    <!-- QUESTIONS -->\n\n<div class=\"question\" data-answered=\"false\">\n  <p>1. Which of the following is a positive statement in economics?<\/p>\n  <button data-correct=\"false\">(A) The government ought to subsidise all essential goods.<\/button>\n  <button data-correct=\"false\">(B) Income inequality is always unfair.<\/button>\n  <button data-correct=\"false\">(C) Public expenditure should be increased regardless of its cost.<\/button>\n  <button data-correct=\"true\">(D) A rise in the price of a good, other things equal, generally reduces its quantity demanded.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>2. When the price of a normal good falls, with other determinants unchanged, what happens?<\/p>\n  <button data-correct=\"false\">(A) The supply curve shifts leftward.<\/button>\n  <button data-correct=\"true\">(B) There is an expansion in quantity demanded along the existing demand curve.<\/button>\n  <button data-correct=\"false\">(C) Demand necessarily becomes perfectly elastic.<\/button>\n  <button data-correct=\"false\">(D) The demand curve shifts rightward.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>3. If consumers expect a durable good to become more expensive next month, what is the likely immediate effect?<\/p>\n  <button data-correct=\"false\">(A) There is only a movement along the current demand curve.<\/button>\n  <button data-correct=\"false\">(B) Its current supply curve necessarily shifts rightward.<\/button>\n  <button data-correct=\"false\">(C) Its income elasticity becomes negative.<\/button>\n  <button data-correct=\"true\">(D) Its current demand curve shifts rightward.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>4. Suppose demand is Qd = 100 \u2212 2P and supply is Qs = 20 + 2P. What is the equilibrium price?<\/p>\n  <button data-correct=\"true\">(A) 20<\/button>\n  <button data-correct=\"false\">(B) 40<\/button>\n  <button data-correct=\"false\">(C) 25<\/button>\n  <button data-correct=\"false\">(D) 15<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>5. If a binding price ceiling is fixed below the competitive equilibrium price, which outcome is most likely?<\/p>\n  <button data-correct=\"false\">(A) The equilibrium price rises by the same amount as the ceiling falls.<\/button>\n  <button data-correct=\"false\">(B) A surplus necessarily develops.<\/button>\n  <button data-correct=\"false\">(C) The quantity supplied must equal the original equilibrium quantity.<\/button>\n  <button data-correct=\"true\">(D) Quantity demanded exceeds quantity supplied.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>6. For a complementary pair of goods, such as printers and ink cartridges, a rise in the price of printers is likely to cause which change?<\/p>\n  <button data-correct=\"false\">(A) A rightward shift in the supply of cartridges.<\/button>\n  <button data-correct=\"true\">(B) A leftward shift in the demand for ink cartridges.<\/button>\n  <button data-correct=\"false\">(C) An increase in quantity demanded of cartridges at every price.<\/button>\n  <button data-correct=\"false\">(D) No change in cartridge demand under any circumstances.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>7. A technology improvement reduces the marginal cost of producing wheat. With demand unchanged, the new competitive equilibrium typically has:<\/p>\n  <button data-correct=\"false\">(A) A higher price and a higher equilibrium quantity.<\/button>\n  <button data-correct=\"false\">(B) A lower price and a lower equilibrium quantity.<\/button>\n  <button data-correct=\"true\">(C) A lower price and a higher equilibrium quantity.<\/button>\n  <button data-correct=\"false\">(D) An unchanged price and a smaller equilibrium quantity.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>8. Which statement correctly distinguishes microeconomics from macroeconomics?<\/p>\n  <button data-correct=\"true\">(A) Microeconomics studies individual markets; macroeconomics studies aggregates such as inflation and national income.<\/button>\n  <button data-correct=\"false\">(B) Macroeconomics never uses market demand and supply.<\/button>\n  <button data-correct=\"false\">(C) Microeconomics studies only firms and never households.<\/button>\n  <button data-correct=\"false\">(D) Microeconomics studies nominal magnitudes only.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>9. If price rises by 10% and quantity demanded falls by 20%, using the simple percentage method, the price elasticity of demand (absolute value) is:<\/p>\n  <button data-correct=\"false\">(A) 10<\/button>\n  <button data-correct=\"true\">(B) 2<\/button>\n  <button data-correct=\"false\">(C) 1<\/button>\n  <button data-correct=\"false\">(D) 0.5<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>10. Demand for a good has absolute price elasticity 0.4. If its price increases by 5%, approximately what happens to quantity demanded?<\/p>\n  <button data-correct=\"false\">(A) It rises by 2%.<\/button>\n  <button data-correct=\"true\">(B) It falls by 2%.<\/button>\n  <button data-correct=\"false\">(C) It falls by 5%.<\/button>\n  <button data-correct=\"false\">(D) It falls by 12.5%.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>11. If demand is price inelastic, an increase in price generally causes total expenditure by buyers on that good to:<\/p>\n  <button data-correct=\"true\">(A) Increase.<\/button>\n  <button data-correct=\"false\">(B) Decrease.<\/button>\n  <button data-correct=\"false\">(C) Remain unchanged in every case.<\/button>\n  <button data-correct=\"false\">(D) Become zero.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>12. A good has income elasticity of demand equal to \u22120.6. It is classified as:<\/p>\n  <button data-correct=\"false\">(A) A luxury normal good.<\/button>\n  <button data-correct=\"false\">(B) A perfectly inelastic good.<\/button>\n  <button data-correct=\"false\">(C) A substitute for every other good.<\/button>\n  <button data-correct=\"true\">(D) An inferior good.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>13. Cross-price elasticity of demand between goods X and Y is +1.5. The two goods are most plausibly:<\/p>\n  <button data-correct=\"true\">(A) Substitutes.<\/button>\n  <button data-correct=\"false\">(B) Necessarily inferior goods.<\/button>\n  <button data-correct=\"false\">(C) Complements.<\/button>\n  <button data-correct=\"false\">(D) Both perfectly inelastic.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>14. At a price of \u20b950, demand is 100 units; at \u20b960, demand is 80 units. Using midpoint (arc) elasticity, what is the absolute value?<\/p>\n  <button data-correct=\"false\">(A) 9\/11 (approximately 0.82).<\/button>\n  <button data-correct=\"false\">(B) 2 (2.00).<\/button>\n  <button data-correct=\"true\">(C) 11\/9 (approximately 1.22).<\/button>\n  <button data-correct=\"false\">(D) 1\/2 (0.50).<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>15. An increase in consumer income shifts the demand curve for a normal good:<\/p>\n  <button data-correct=\"false\">(A) Along the unchanged curve toward a lower price.<\/button>\n  <button data-correct=\"false\">(B) Leftward, with its own price held constant.<\/button>\n  <button data-correct=\"true\">(C) Rightward, with its own price held constant.<\/button>\n  <button data-correct=\"false\">(D) Only if supply is perfectly inelastic.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>16. If the supply of a product is perfectly inelastic, the supply curve is:<\/p>\n  <button data-correct=\"true\">(A) Vertical.<\/button>\n  <button data-correct=\"false\">(B) Horizontal.<\/button>\n  <button data-correct=\"false\">(C) Upward sloping at exactly 45 degrees in all units.<\/button>\n  <button data-correct=\"false\">(D) Identical to the demand curve.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>17. Which item is included in GDP at market prices measured by the expenditure method?<\/p>\n  <button data-correct=\"true\">(A) Gross fixed capital formation.<\/button>\n  <button data-correct=\"false\">(B) An unrequited cash transfer from government.<\/button>\n  <button data-correct=\"false\">(C) A household\u2019s purchase of a used car from a neighbour.<\/button>\n  <button data-correct=\"false\">(D) Purchase of an existing house from another resident.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>18. Given C = \u20b9600 crore, I = \u20b9200 crore, G = \u20b9150 crore, exports = \u20b9100 crore and imports = \u20b980 crore, GDP by expenditure equals:<\/p>\n  <button data-correct=\"false\">(A) \u20b9870 crore.<\/button>\n  <button data-correct=\"false\">(B) \u20b91,130 crore.<\/button>\n  <button data-correct=\"false\">(C) \u20b91,050 crore.<\/button>\n  <button data-correct=\"true\">(D) \u20b9970 crore.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>19. Nominal GDP is \u20b92,400 billion and the GDP deflator (base = 100) is 120. Real GDP at base-year prices is:<\/p>\n  <button data-correct=\"false\">(A) \u20b92,520 billion.<\/button>\n  <button data-correct=\"true\">(B) \u20b92,000 billion.<\/button>\n  <button data-correct=\"false\">(C) \u20b91,200 billion.<\/button>\n  <button data-correct=\"false\">(D) \u20b92,880 billion.<\/button>\n<\/div>\n\n<div class=\"question\" data-answered=\"false\">\n  <p>20. Which identity is correct in national income accounting?<\/p>\n  <button data-correct=\"true\">(A) GDP at market prices = GVA at basic prices + product taxes \u2212 product subsidies.<\/button>\n  <button data-correct=\"false\">(B) GDP at market prices = GVA at basic prices \u2212 product taxes + product subsidies.<\/button>\n  <button data-correct=\"false\">(C) GDP at market prices = national disposable income plus net exports.<\/button>\n  <button data-correct=\"false\">(D) GDP at market prices = GVA at basic prices + depreciation only.<\/button>\n<\/div>\n\n    <!-- FINAL SUMMARY -->\n    <div class=\"final-summary\">\n      <h3>Quiz Summary <\/h3>\n\n      <div class=\"summary-row\">\n        <span>Attempted<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-attempted\" data-summary=\"attempted\"><\/div><\/div>\n        <span data-count=\"attempted\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Correct<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-correct\" data-summary=\"correct\"><\/div><\/div>\n        <span data-count=\"correct\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Wrong<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-wrong\" data-summary=\"wrong\"><\/div><\/div>\n        <span data-count=\"wrong\">0<\/span>\n      <\/div>\n\n      <div class=\"summary-row\">\n        <span>Unattempted<\/span>\n        <div class=\"summary-bar\"><div class=\"bar-fill bar-unattempted\" data-summary=\"unattempted\"><\/div><\/div>\n        <span data-count=\"unattempted\">0<\/span>\n      <\/div>\n\n      <div class=\"final-score\">\n        Final Score: <span class=\"score-value\" data-score>0.0<\/span>\n      <\/div>\n    <\/div>\n\n  <\/div>\n<\/div>\n<div class=\"modal modal-obls\" id=\"modal-signup\">\n        <div class=\"modal-background\"><\/div>\n        <div class=\"modal-content\">\n           <div class=\"obls-group\" 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}\n      else { wrong++; }\n      restoreQuestion(q, saved.chosenIndex, saved.correct);\n    }\n  });\n  score = parseFloat((correct * 1 - wrong * 0.25).toFixed(2));\n  updateUI();\n\n  \/\/ Attach click handlers\n  questions.forEach((q, qIndex) => {\n    q.querySelectorAll(\"button\").forEach((btn, btnIndex) => {\n      btn.addEventListener(\"click\", () => {\n        if (q.dataset.answered === \"true\") return;\n        q.dataset.answered = \"true\";\n        attempted++;\n\n        if (attempted > 9 && l_log == 0) {\n          $('#modal-signup').addClass('is-active');\n        }\n\n        q.querySelectorAll(\"button\").forEach(b => b.classList.add(\"locked\"));\n        const isCorrect = btn.dataset.correct === \"true\";\n\n if (isCorrect) {\n          btn.classList.add(\"correct\");\n          correct++;\n        } else {\n          btn.classList.add(\"wrong\");\n          wrong++;\n          q.querySelector(\"[data-correct='true']\").classList.add(\"correct\");\n        }\n        score = parseFloat((correct * 1 - wrong * 0.25).toFixed(2));\n\n        savedAnswers[qIndex] = { chosenIndex: btnIndex, correct: isCorrect };\n        saveState(savedAnswers);\n        updateUI();\n      });\n    });\n  });\n\n  updateUI();\n})();\n<\/script>\n\n<\/body>\n<\/html>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-quiz-on-development-issues\/?ref=contac-upsc-epfo-indian-eco-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Challenge Yourself on Indian Economy \u2013 Take Free Quiz Now!<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-types-of-indian-economy-questions-were-asked-in-the-previous-year-epfo-apfc-exam\"><span class=\"ez-toc-section\" id=\"What_types_of_Indian_Economy_questions_were_asked_in_the_previous_year_EPFO_APFC_exam\"><\/span>What types of Indian Economy questions were asked in the previous year EPFO APFC exam?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The previous year\u2019s UPSC EPFO APFC exam included questions related to Indian economic policies, government schemes, industrial development, employment, and important economic indicators.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Government schemes and policies: <\/strong>Employment Linked Incentive Scheme, PM MUDRA Yojana, and the BioE3 Policy.<\/li>\n\n\n\n<li><strong>Industrial and labour policy:<\/strong> Zero Defect Zero Effect initiative, MSME classification, and labour-related legislation.<\/li>\n\n\n\n<li><strong>Economic growth and development:<\/strong> Services sector contribution to Gross Value Added (GVA), human development, and social protection.<\/li>\n\n\n\n<li><strong>Monetary and financial concepts:<\/strong> Core inflation and development finance institutions.<\/li>\n\n\n\n<li><strong>Fiscal policy and taxation: <\/strong>GST Council and related concepts.<\/li>\n\n\n\n<li><strong>International economic relations: <\/strong>ASEAN and regional cooperation.<\/li>\n\n\n\n<li><strong>Economic institutions: <\/strong>Role of NITI Aayog and its Fiscal Health Index.<\/li>\n<\/ul>\n\n\n\n<p>The analysis also suggests that questions were generally concept-based and linked to practical economic developments, rather than limited to textbook definitions. Candidates should therefore practise questions on government schemes, economic reports, policy initiatives, and basic economic indicators alongside core concepts such as inflation, fiscal policy, and economic growth.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-previous-year-question-papers\/?ref=contac-upsc-epfo-indian-eco-pq\" target=\"_blank\" rel=\"noreferrer noopener\">Download Free UPSC EPFO Previous Year Papers<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-should-you-prepare-for-indian-economy-for-the-upsc-epfo-apfc-exam\"><span class=\"ez-toc-section\" id=\"How_should_you_prepare_for_Indian_Economy_for_the_UPSC_EPFO_APFC_exam\"><\/span>How should you prepare for Indian Economy for the UPSC EPFO APFC exam?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A structured revision plan can help you cover the Indian Economy syllabus more effectively. Start with basic concepts and then move to government policies, economic indicators, and numerical questions. Give additional time to topics where you make repeated mistakes. You should also connect theoretical concepts with current economic developments and important government initiatives.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Understand the basics: Study demand and supply, GDP, inflation, fiscal policy, and monetary policy before moving to advanced topics.<\/li>\n\n\n\n<li>Revise important institutions: Learn the roles and functions of the RBI, NABARD, SEBI, NITI Aayog, IMF, and World Bank.<\/li>\n\n\n\n<li>Practise calculations: Revise percentage changes, growth rates, deficit calculations, and economic indicators.<\/li>\n\n\n\n<li>Study government initiatives: Cover important schemes related to employment, industrial development, financial inclusion, and economic growth.<\/li>\n\n\n\n<li>Analyse your mistakes: Review incorrect answers and revise the concepts behind them.<\/li>\n\n\n\n<li>Practise regularly: Attempt quizzes and previous year questions to improve accuracy and confidence.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1792148573870\"><strong class=\"schema-faq-question\">1. Which topics are covered in the Indian Economy quiz?<\/strong> <p class=\"schema-faq-answer\">It covers economic growth, demand and supply, poverty, employment, inflation, monetary policy, fiscal policy, industrial policy, and economic development.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792148574890\"><strong class=\"schema-faq-question\">2. Is the Indian Economy quiz useful for UPSC EPFO APFC preparation?<\/strong> <p class=\"schema-faq-answer\">Yes, it can help candidates revise important concepts and assess their preparation for the examination.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792148575570\"><strong class=\"schema-faq-question\">3. How should I analyse my quiz score?<\/strong> <p class=\"schema-faq-answer\">Review incorrect answers, identify weak topics, and revise the concepts before attempting the questions again.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792148576305\"><strong class=\"schema-faq-question\">4. Should I practise previous year questions along with the quiz?<\/strong> <p class=\"schema-faq-answer\">Yes, practising previous year questions can help you understand the examination style and the types of concepts tested.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1792148576943\"><strong class=\"schema-faq-question\">5. Are numerical questions asked from Indian Economy in the UPSC EPFO APFC exam?<\/strong> <p class=\"schema-faq-answer\">Numerical questions may cover concepts such as GDP, growth rates, inflation, and economic indicators.<\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/\">Attempt UPSC EPFO APFC Indian Economy Conceptual &amp; Numerical Quiz<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-computer-applications-quiz\/\">Attempt UPSC EPFO APFC Computer Applications Quiz &amp; Download PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/code-on-social-security-2020-practice-quiz\/\">UPSC EPFO APFC Code on Social Security 2020 Quiz &amp; Free PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-insurance-quiz\/\">Attempt UPSC EPFO APFC Insurance Practice Quiz &amp; Download PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-auditing-practice-quiz\/\">Attempt UPSC EPFO APFC Auditing Practice Quiz &amp; Download PDF<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-marks-vs-cut-off\/\">UPSC EPFO APFC Marks vs Cut-Off, How to Calculate Your Score?<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Preparing for the UPSC EPFO APFC exam requires a clear understanding of Indian Economy concepts, government policies, and important economic<\/p>\n","protected":false},"author":58,"featured_media":254434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10321],"tags":[],"class_list":["post-254432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-upsc-epfo","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Attempt UPSC EPFO APFC Indian Economy Conceptual &amp; Numerical Quiz<\/title>\n<meta name=\"description\" content=\"Enhance your UPSC EPFO APFC preparation with the Indian Economy Quiz. 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I work as a Content Writer at Oliveboard, where I have been simplifying exam-related content for the past 4 years. I create clear and easy-to-understand guides for JAIIB, CAIIB, and UGC exams. My work includes breaking down notifications, admit cards, and exam updates, as well as preparing study plans and subject-wise strategies. My goal is to support working professionals in managing their exam preparation alongside a full-time job and to help them achieve career growth.","sameAs":["www.linkedin.com\/in\/aditi-chakraborty-131b3b379"]},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148573870","position":1,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148573870","name":"1. Which topics are covered in the Indian Economy quiz?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"It covers economic growth, demand and supply, poverty, employment, inflation, monetary policy, fiscal policy, industrial policy, and economic development.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148574890","position":2,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148574890","name":"2. Is the Indian Economy quiz useful for UPSC EPFO APFC preparation?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, it can help candidates revise important concepts and assess their preparation for the examination.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148575570","position":3,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148575570","name":"3. How should I analyse my quiz score?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Review incorrect answers, identify weak topics, and revise the concepts before attempting the questions again.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148576305","position":4,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148576305","name":"4. Should I practise previous year questions along with the quiz?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, practising previous year questions can help you understand the examination style and the types of concepts tested.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148576943","position":5,"url":"https:\/\/www.oliveboard.in\/blog\/upsc-epfo-apfc-indian-economy-conceptual-numerical-quiz\/#faq-question-1792148576943","name":"5. Are numerical questions asked from Indian Economy in the UPSC EPFO APFC exam?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Numerical questions may cover concepts such as GDP, growth rates, inflation, and economic indicators.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/254432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/comments?post=254432"}],"version-history":[{"count":2,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/254432\/revisions"}],"predecessor-version":[{"id":254490,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/254432\/revisions\/254490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media\/254434"}],"wp:attachment":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media?parent=254432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/categories?post=254432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/tags?post=254432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}