Economics for SSC CGL: Know Syllabus, Important Topics, Questions

By BYJU'S Exam Prep

Updated on: September 25th, 2023

Preparation of Economics for the SSC CGL is important in order to crack the exam. According to the new SSC CGL exam pattern 2023, Economics is part of both tier 1 and tier 2 syllabus. Now that weightage of the Economics questions has increased, aspirants cannot wave aside this subject anymore. Thus in this article, you can find tips to prepare Economics for SSC CGL. In addition to that you can also get to know complete details on the Economics syllabus for SSC CGL for both tier 1 and tier 2 and important topics of Economics for SSC CGL that should be revised before appearing for the exam. Every year, Staff Selection Commission conducts Combined Graduate Level (CGL) Exam for various posts.

Importance of Economics for SSC CGL

Economics is part of the general awareness section in the SSC CGL exam. General awareness is not something you can expect to master in a day. But from an exam point of view, if you spend time consistently, you can perform well in it in relatively less time as compared to the Quantitative Aptitude and Reasoning section. This section acquires more importance because this is the only section which can be attempted quickly i.e. in 12-15 minutes and at the same time, decent marks can be scored in this section if prepared well.

Why Candidates should Prepare Economics for SSC CGL exam?

  • It holds significant weightage in the general awareness section.
  • Around 2-3 questions are asked from Economics in the tier 1 exam and in the upcoming SSC CGL tier 2 exam, candidates can expect at least 4-6 questions from this section.
  • Economics questions asked in the SSC CGL exam are based on the basic concepts and definitions which are easy to learn and score in economics with accuracy.
  • It is a time-saving subject, as it takes 2-3 seconds to answer one economics question.

Problems faced by aspirants while preparing economics for SSC CGL

The most popular opinion among the aspirants is that Economics is not an interesting subject and that’s why they are reluctant to learn and study this subject. The second problem faced by the students while preparing Economics for the SSC CGL exam is that most of the students remain confused as to what should be studied and which are important Economics topics to study.

The solve the problems faced by the aspirants, we are providing the list of the important topics in economics for the SSC CGL exam that should be prepared by the students on priority to attempt maximum questions exam from this subject and important questions that you can practice. If you have a look at SSC CGL previous year’s paper, you will observe that the Economics section contains simple and repeated questions. You can make your basics strong by solving SSC CGL Mock Test regularly.

Economics Syllabus for SSC CGL

Economics comes under the general awareness syllabus of the SSC CGL exam. It consists of the following topics:

  • Basic Economy
  • National income & aggregates,
  • Demand & Supply(their graphs also )
  • Foreign exchange
  • Economic development
  • RBI and other bank’s history(Their coagulation, formation year, headquarters, functions, etc)
  • Navratna & Maharatna Companies
  • Monetary policy, fiscal policy, Balance of payment, and national and international financial institutions.
  • Tax Structure (GST and Income Tax)
  • Five Plan Years & NITI AAYOG
  • Budget (History and important terms related to it)

List of Important Economics Topics for SSC CGL

Candidates appearing for SSC CGL 2023 should have knowledge of basic economy, National income & aggregates, Demand, Supply, Foreign exchange, Economic development, Balance of payment, and national and international financial institutions. These are the basic topics of economics that you would have studied in class 12th in micro & macroeconomics.

Here are the following topics which you should not ignore while studying Economics for the Combined Graduate Level Exam.

  • Follow current affairs news related to Economics and also read about the basic concepts related to that piece of current affairs.
  • Basic Economy
  • National income & aggregates,
  • Economic development
  • Banking terms
  • Monetary policy, fiscal policy, Balance of payment and national and international financial institutions.
  • Five Plan Years & NITI AAYOG
  • Budget (History and important terms related to it)

Important Economics Questions for SSC CGL

In this segment, we have shared some of the Economics questions for SSC CGL which will help you understand the pattern and the difficulty level of the question that are asked from the Economics subject in the SSC CGL exam.

1. When an organisation is unable to honour its financial obligations or make payment to its creditors, it files for _________ in the court.

A. account payable
B. account receivable
C. debt financing
D. bankruptcy

Answer ||| D

2._________ refers to those who have no work to do even though they are able and willing to do work.

A. Open unemployment
B. Cyclical unemployment
C. Educated unemployment
D. Compulsory unemployment

Answer ||| A

3._______ refers to fiscal deficit minus interest payments.

A. Fiscal Deficit
B. Budget Deficit
C. Primary Deficit
D. Revenue Deficit

Answer ||| C

4. What was the estimated national mortality rate of children under the age of five in the country as per the Census of India 2011?

A. 34
B. 55
C. 76
D. 13

Answer ||| B

5.Finance Minister Nirmala Sitharaman announced the setting up of ______ mega textile parks across the country over three years, in her Budget 2021-22 speech.

A. seven
B. five
C. three
D. nine

Answer ||| A

6. Which of the following is India’s first Paperless Budget?

A. Union Budget 2018-19
B. Union Budget 2020-21
C. Union Budget 2019-20
D. Union Budget 2021-22

Answer ||| D

7.______ is a tax system that collects a greater share of income from those with high incomes than from those with lower incomes.

A. Proportional tax
B. Regressive tax
C. Payroll tax
D. Progressive tax

Answer ||| D

8. The value of the Gross Domestic Product (GDP) of India is published by PIB in _____.

A. US Dollar
B. Yen
C. Yuan
D. Indian Rupee

Answer ||| D

9. Which bank is referred to as ‘The lender of last resort’?

A. Central Bank
B. State Bank
C. Dena Bank
D. World Bank

Answer ||| A

10.____ is an alphanumeric code that uniquely identifies a bank-branch participating in the NEFT system.


Answer ||| B

11.What is the objective of the ‘Doughnut Model’ of development?

A. It envisions rapid development at an environmental cost, then makes up for it later.
B. It envisions a world in which people and the planet can drive in balance.
C. It envisions a food processing industry of development.
D. It envisions total abandonment of technology to live at peace with the environment.

Answer ||| B

12.The ______ rate measures rising prices in everything except food and energy.

A. Core inflation
B. Wage inflation
C. Deflation
D. Stagflation

Answer ||| A

13.TReDS is an e-platform to allow auction of trade receivable for MSMEs, here D stands for?

A. Developmental
B. Discounting
C. Depositing
D. Debit

Answer ||| B

14. Insolvency and Bankruptcy Board of India works under which of the following?

A. Ministry of Finance
B. Ministry of Corporate Affairs
C. Ministry of Consumer Affairs
D. Ministry of Administration Reforms and Public Grievances

Answer ||| B

15. SEBI regulates any money pooling scheme worth Rs………… or more and attach assets in cases of non compliance?

A. 100Cr
B. 200Cr
C. 300Cr
D. 500Cr

Answer ||| A

General Tips to Prepare Economics for SSC CGL Tier 1 and Tier 2 Exams

Here are a few general tips that can be followed while learning Economics in a more efficient way.

  • Read daily newspapers for current updates or Follow online sites for Gk & current affairs updates.
  • Solve previous years’ question papers for more practice & also you can determine the syllabus & difficulty level.
  • Cramming lowers your ability to retain information.
  • Explain your topics to others, it will help you get clear in your doubts & highlight the area you need to work on.

Best Books for Economics for SSC CGL

  • Prepare major current affairs of economy and budget then Lucent.

For complete preparation, candidates are advised to go through the SSC Online Coaching and SSC Mock Tests by BYJU’S Exam Prep.

Hope this was useful to you. 

Happy Learning  

Economics for SSC CGL: Know Syllabus, Important Topics, Questions

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