Economics Test: Identify The Image! Quiz

The focus of demonetization was to promote a cashless and digital economy. This means encouraging people to make payments through electronic means such as debit cards, online transfers, and mobile wallets, instead of using physical cash. The aim was to reduce the circulation of black money, curb corruption, and promote transparency in financial transactions. Demonetization also aimed to encourage the use of digital payment methods such as swipe machines and online platforms, making transactions more convenient and efficient.

The New Economic Policy was implemented in the year 1991. This policy was a set of economic reforms introduced by the Government of India to liberalize and open up the Indian economy. It aimed to shift from a socialist, centrally planned economy to a market-oriented economy. The policy included measures such as liberalization of trade and investment, deregulation, privatization of state-owned enterprises, and fiscal reforms. These reforms played a significant role in transforming India's economy and attracting foreign investment, leading to increased economic growth and globalization.

The image most likely represents outsourcing because it is a process where a company hires external resources or services to perform specific tasks or functions, usually to reduce costs or improve efficiency. This option is the best fit among the given choices as privatization refers to the transfer of ownership from the public to the private sector, liberalization is the removal of government restrictions and regulations, and globalization refers to the integration and interdependence of economies on a global scale.

The image most likely represents the United Nations Organization because it is a widely recognized symbol associated with the UN. The UN logo consists of a world map surrounded by olive branches, and the image in question seems to depict this symbol. The other options, such as the International Monetary Fund, World Health Organization, and World Trade Organization, do not have such a distinct and recognizable logo.

The image is most likely a log or a piece of wood, and it does not represent any of the organizations mentioned in the options. Therefore, the answer is not available.

The image is likely to represent deglobalisation because it shows a reduction in interconnectedness and integration among countries. This can be inferred from the fact that the image is related to the concept of globalisation, but it is not promoting or indicating increased global connections. Therefore, the best option that signifies the image is deglobalisation.

The image most likely represents the concept of "Devaluation of Rupees". Devaluation refers to a deliberate decrease in the value of a currency relative to other currencies, usually done by a country's central bank. This can be depicted through visual representations such as graphs or charts showing a decline in the value of a currency. Without the image itself, it is difficult to provide a more specific explanation.

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Urjit Patel is the correct answer for the person in the image. He was the RBI governor at the time of demonetization.

The image most likely represents excess inventory because it shows an abundance of products or goods that are not being sold or utilized. This can be inferred from the fact that the other options, such as deficit inventory, inflation, and deflation, do not accurately describe the image.