Indian Economy Important Questions

However, Indian Economy is an essential component of the question paper of General Awareness, but its importance gets enhanced manifold in context of the examination conducted by SSC to recruit the Data Entry Operators at 10+2 level. The number of questions from this subject has been increased from the last 2 to 3 years of examination. From this subject the questions asked in the examination are related to the following topics: National Income of India, Planning in India, New Economic Policy, Poverty, Unemployment, Flagship Programmes of Government of India, Agriculture Industry, Money and Banking, Insurance, Indian Fiscal System, Union Budget, Tax Structure, International Economic Organisations, etc.

1.In which of the following types of economy are the factors of production owned individually?

(a) Capitalist (b) Socialist (c) Mixed (d) Both ‘a’ and ‘b’

Ans.a

2.The concept of Five Year Plans in India was introduced by

(a) Lord Mountbatten (b) Jawaharlal Nehru (C) Indira Gandhi (d) Lal Bahadur Shastri

Ans.b

3.India has

(a) Socialistic economy (b) Gandhian economy (c) Mixed economy (d) Free economy

Ans. c

4.Mixed Economy’ means

(a) co-existence of small scale and large scale industries (b) co-existence of the rich and the poor (c) co-existence of private and public sector (d) assigning equal importance to both agriculture and heavy industries

Ans.c

5.India’s economic planning cannot be said to be

(a) indicative (b) imperative (c) limited (d) democratic

Ans.b

6.National Development Council was set up in

(a) 1948 (b) 1950 (c) 1951 (d) 1952

Ans.d

7.Poverty in less developed countries is largely due to

(a) voluntary idleness (b) income inequality (c) lack of cultural activities (d) lack of intelligence of the people

Ans.b

8.Among the achievements of Indian planning, we may include

1.development of strong infrastructure 2. diversification of industry and exports 3. high growth of national income 4. strong control over prices

(a) 1 and 2 (b) 1, 2 and 3 (C) 1, 2 and 4 (d) 2 and 3

Ans.a

9.Which of the following features indicate that Indian economy is of the developing category?

I Occupation mainly agricultural II. Chronic unemployment and III. Poor quality of human capital IV. Low per capita intake of proteins

(a) I, II and III (b) I and IV (c) II and I (d) I, II, III and IV

Ans.d

10.Dadabhai Naoroji theorised on the drain of wealth from India in his book

(a) Poverty under British Rule in India (b) Poverty in British Rule in India (C) Poverty and Un-British Rule in India (d) Poverty of Economic Drain in British India

Ans.c

11.The most appropriate measure of a country’s economic growth is its

(a) Gross Domestic Product (b) Net Domestic Product (c) Net National Product (d) Per Capita Real Income

Ans.d

12.Which committee was set up to review the concept of the poverty line?

(a) S Tendulkar Committee (b) Lakdawala Committee (C) Wanchoo Committee (d) Dutt Committee

Ans. a

13.The deputy chairman of the Planning Commission

(a) is the Prime Minister (b) is the Planning Minister (c) holds the rank of a cabinet minister (d) is an economist of repute

Ans.c

14.Economic liberalisation in India started with

(a) substantial changes in industrial licensing policy (b) the convertibility of Indian rupee (c) doing away with procedural formalitites for foreign direc investment Cro(d) significant reduction in tax rates

Ans.a

15.The Planning Commission of India

I was set up in 1950 bus II. is a constitutional body III. is an advisory body  IV. is a government department

(a) I and II S (b) II and III (c) I and III (d) III only

Ans.c

16.Microeconomics is concerned with

1.behaviour of industrial decision-makers 2. the level of employment 3. changes in the general level of prices 4. determination of prices of goods and service

(a) 1 and 2 (b) 2 and 3 (c) 3 and 4 (d) 1 and 4

Ans.d

17.The basic objectives of Indian planning are

  1. economic growth 2. self-reliance 3. employment generation 4. population growth

(a) 1, 2 and 4 (b) 1, 2 and 3 (c) 2 and 3 (d) 1, 2, 3 and 4

Ans.b

18. An underdeveloped economy is generally characterised by

1.low per capita income 2. low rate of capital formation 3. low dependency figure 4. working force largely in the tertiary sector

(a) 1 and 2 (b) 2 and 3 (c) 3 and 4 (d) 1 and 4

Ans.a

19.Self-reliance in the economic context implies that a country

1.meets its demands for all goods and services from its domestic production 2. exports some of its goods but does not need to • import anything 3. has sufficient foreign exchange reserves to buy all its needs 4. meets its demand for certain vital goods and services from its domestic production

(a) 1 and 3 (b) 2 and 4 (b) 2 and 4  (C) 1, 2 and 3 (d) 3 and 4

Ans.d

20.Which of the following is the most appropriate because of export surplus?

(a) Country’s export promotion value (b) Developments in national and international markets (c) Country’s stringent import policy (d) None of the above

Ans.c

 

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