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INDIAN ECONOMY MCQs

Total Questions : 817 | Page 1 of 82 pages
Question 1.

The term “mixed economy” denoted?

  1.    existence of both rural and urban sector
  2.    existence of both private and public sectors
  3.    existence of both heavy and small industries
  4.    existence of both development and underdeveloped sectors
  5.    None of these
 Discuss Question
Answer: Option B. -> existence of both private and public sectors
Question 2.

In an economy, the sectors are classified into public and private on the basis of?

  1.    employment condition
  2.    nature of economic activities
  3.    ownership of enterprises
  4.    use of raw materials
  5.    None of these
 Discuss Question
Answer: Option C. -> ownership of enterprises
Question 3.

The “Dual Economy” is a mixture of?

  1.    traditional agriculture sector and modern industrial sector
  2.    industrial sector and manufacturing sectors
  3.    state ownership of the means of production
  4.    industrial sector and trading of goods obtained through imports
  5.    None of these
 Discuss Question
Answer: Option A. -> traditional agriculture sector and modern industrial sector
Question 4.

Which sector of Indian Economy has shown remarkable expansion during the last decade?

  1.    Primary sectors
  2.    Secondary sectors
  3.    Tertiary sectors
  4.    Mining sectors
  5.    None of these
 Discuss Question
Answer: Option C. -> Tertiary sectors
Question 5.

When development in economy takes place, the share of tertiary sector in National Income?

  1.    first falls and the rises
  2.    first rises and then falls
  3.    keeps on increasing
  4.    remains constant
  5.    None of these
 Discuss Question
Answer: Option C. -> keeps on increasing
Question 6.

It will be true to classify India as?

  1.    A food deficit economy
  2.    A labour surplus economy
  3.    A trade surplus economy
  4.    A capital surplus economy
  5.    None of these
 Discuss Question
Answer: Option B. -> A labour surplus economy
Question 7.

Mixed Economy means?

  1.    Where agriculture and industry are given equal importance
  2.    Where public sector exists alongwith the private sector in national economy
  3.    Where globalization is transferred with heavy close of Swadeshi in national economy
  4.    When the Centre and the States are equal partners in economics planning and development
  5.    None of these
 Discuss Question
Answer: Option B. -> Where public sector exists alongwith the private sector in national economy
Question 8.

In India, planned economy is based on?

  1.    Gandhian System
  2.    Socialist System
  3.    Capitalist System
  4.    Mixed Economy System
  5.    None of these
 Discuss Question
Answer: Option B. -> Socialist System
Question 9.

Economic liberalization in India started with?

  1.    Substantial changes in industrial licensing policy
  2.    The convertibility of Indian rupees
  3.    Doing away with procedural formalities for foreign direct investment
  4.    Significant reduction in tax rates
  5.    None of these
 Discuss Question
Answer: Option A. -> Substantial changes in industrial licensing policy
Question 10.

The Indian Economy is characterised by:
1. Pre-dominance of Agriculture
2. Pre-dominance of Industry
3. Low Per Capita Income
4. Massive Unemployment
Select the anser from the given options: 

  1.    1 and 2 only
  2.    1, 2 and 3 only
  3.    2, 3 and 4 only
  4.    1, 3 and 4 only
  5.    None of these
 Discuss Question
Answer: Option D. -> 1, 3 and 4 only

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