This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Global > Industries Infrastructure And Foreign Trade – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Industries Infrastructure And Foreign Trade Quiz 1 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is not sponsor of newly established UTI-II? A) Punjab National Bank. B) Life Insurance Corporation of India. C) State Bank of India. D) General Insurance Corporation. Show Answer Correct Answer: D) General Insurance Corporation. 2. India signed the Dunker proposal in A) 1984. B) 1950. C) 1994. D) 1976. Show Answer Correct Answer: C) 1994. 3. Pegging down of national currency is known as A) Over valuation. B) Under valuation. C) Revaluation. D) All of the above. Show Answer Correct Answer: B) Under valuation. 4. The demand for domestic currency in the foreign exchange market is indicated by the following transactions in balance of payment A) Export of goods and services. B) Import of goods and services. C) Export of goods and services and capital inflows. D) Import of goods and services and capital outflows. Show Answer Correct Answer: C) Export of goods and services and capital inflows. 5. Which of the following states ranks first in terms of the maximum number of agro- based industries? [Bank PO 1993] A) West Bengal. B) Gujarat. C) Punjab. D) Kerala. Show Answer Correct Answer: C) Punjab. 6. India's share in world export is: A) Less than 1%. B) Greater than 2%. C) 1.7%. D) 1%. Show Answer Correct Answer: C) 1.7%. 7. Which organisation promotes the foreign trade? [UP PCS 2011] A) ECGC. B) MMTC. C) STC. D) All of these. Show Answer Correct Answer: D) All of these. 8. Suez canal was opened in the year ..... A) 1869. B) 1879. C) 1859. D) 1868. Show Answer Correct Answer: A) 1869. 9. Which are the major trade center in ancient indiia A) Patliputra. B) Mathura. C) Surat. D) All if the above. Show Answer Correct Answer: D) All if the above. 10. Who first came to India for trading purpose? A) Portuguese. B) Dutch. C) Roman Empire. D) Danish. Show Answer Correct Answer: A) Portuguese. 11. Colonial advent in India A) Portuguese, Dutch, English, Danish, French. B) Dutch, English, Danish, French. C) Portuguese, Danish, Dutch, French, English. D) Danish, Portuguese, French, English, Dutch. Show Answer Correct Answer: A) Portuguese, Dutch, English, Danish, French. 12. 'Dumping' in the context of international trade refers to : [CDS 2000] A) Exporting goods of inferior quality. B) Exporting goods at prices below the actual cost of production. C) Exporting goods only to re-import them at cheaper rates. D) Exporting goods without paying the appropriate taxes in the receiving country. Show Answer Correct Answer: B) Exporting goods at prices below the actual cost of production. 13. How many countries where membership in WTO at present? A) 164. B) 159. C) 128. D) 148. Show Answer Correct Answer: A) 164. 14. Which of the following instrument of trade protection directly raises the price of the commodity in the domestic economy? A) Import liberalisation. B) Import tariff. C) Export subsidy. D) Import substitution. Show Answer Correct Answer: B) Import tariff. 15. The performance of which of the following industries is considered performance of the core industry? [RBI Grade B Officer 2011] A) Garments. B) Leather. C) IT. D) Oil and Petroleum. E) Handicrafts. Show Answer Correct Answer: D) Oil and Petroleum. 16. Indian government was introduced ..... in 1991 A) Globalisation. B) World Trade Organisation. C) New Economic Policy. D) None. Show Answer Correct Answer: C) New Economic Policy. 17. More than half on India's foreign trade was restricted to: A) China. B) Britain. C) Sri lanka. D) Korea. Show Answer Correct Answer: B) Britain. 18. Bokaro Steel Limited was established with the assistance of: [Asstt Comm 2008] A) UK. B) Germany. C) USA. D) Soviet Union. Show Answer Correct Answer: D) Soviet Union. 19. Which of the following industry will be classified under sunrise industry prior to 1991? A) Food processing industry. B) Electronic industry. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: B) Electronic industry. 20. Liberalisation in India in the year A) 1990. B) 1991. C) 1992. D) 1993. Show Answer Correct Answer: B) 1991. 21. A strategy to earn foreign exchange by promoting domestic exports and making domestic industry competitive in the international market is called: A) Inward looking strategy. B) Export promotion strategy. C) Outward looking strategy. D) None of these. Show Answer Correct Answer: C) Outward looking strategy. 22. Export surplus was used: A) To make payment for expenditure incurred by a british office. B) To meet expenses on war. C) To import invisible items. D) All of these. Show Answer Correct Answer: D) All of these. 23. Hundi that is payable to a specific person, someone 'respectable'. Liability over who received payment. A) Firman-jog-Darshani. B) Dekhan-har-Darshani. C) Sah-jog-Darshani. D) Firman-jog-Muddati. Show Answer Correct Answer: C) Sah-jog-Darshani. 24. Identify the correct sequence of the establishment of steel plants in India from the earliest to the latest: [NDA 2002] A) Jamshedpur, Bhilai, Bokaro, Vishakhapatnam. B) Bokaro, Jamshedpur, Vishakhapatnam, Bhilai. C) Bhilai, Jamshedpur, Vishakhapatnam, Bokaro. D) Jamshedpur, Vishakhapatnam. Show Answer Correct Answer: A) Jamshedpur, Bhilai, Bokaro, Vishakhapatnam. 25. India's share in world import is: A) Less than 1%. B) 1.5%. C) 1%. D) Greater than 2%. Show Answer Correct Answer: D) Greater than 2%. 26. As per the reports published in the newspapers the banks, particularly public sector banks are tying up with various rating agencies for providing a qualitative assessment of the credit needs of the borrowers. Which amongst the following is/are such credit rating agencies in India? [Punjab & Sindh Bank 2011] A) CARE. B) CRISIL. C) ULlP. D) Only A. E) Only B. F) A and B only. G) Only C. H) All A, B and C. Show Answer Correct Answer: F) A and B only. 27. Which of the following sectors does not come under tertiary sector? A) Trade. B) Transport. C) Electricity. D) Business Services. Show Answer Correct Answer: C) Electricity. 28. When was "Make in India" launched by the Government of India? A) 15 August 2014. B) 25 September 2014. C) 25 September 2015. D) 15 August 2050. Show Answer Correct Answer: B) 25 September 2014. 29. Which one of the following pairs is not correctly matched? [CDS 2008] A) Hindalco Industries - Novelis. B) Jet Airways - Air Sahara. C) Kingfisher Airlines - MDLR Airlines. D) Tata Steel - Corus Group. Show Answer Correct Answer: C) Kingfisher Airlines - MDLR Airlines. 30. Which institution provides long run finance to industries? A) UTI. B) LIC. C) GIC. D) All of these. Show Answer Correct Answer: D) All of these. 31. The most important small-scale industry in India is that of: A) Textiles. B) Jute. C) Jewellery. D) Handloom. Show Answer Correct Answer: D) Handloom. 32. Which of the following items was not exported prior to independence? A) Cotton textiles. B) Engineering goods. C) Tea. D) Jute. Show Answer Correct Answer: B) Engineering goods. 33. What was known as 'Black Gold'? A) Black Pepper. B) Cinnamon. C) Jute. D) Saffron. Show Answer Correct Answer: A) Black Pepper. 34. Whenever newspapers talk about the performance of core industries, which of the following is NOT considered among them? [Bank of India PO 2010] A) Automobile. B) Mining. C) Petroleum. D) Steel. E) Cement. Show Answer Correct Answer: B) Mining. 35. The issue of the ..... is controlled by RBI A) Euro. B) Rupee. C) Ringett. D) USD. Show Answer Correct Answer: B) Rupee. 36. The core sector includes: I. Coal II. Power III. Petroleum IV. Soaps and Detergent A) I and II. B) I, II and III. C) I. D) II and III. Show Answer Correct Answer: B) I, II and III. 37. Which of the following was formed to suggest means for eradicating black money? [I. Tax 1992] A) Shah Commission. B) Sarkaria Commission. C) Chelliah Committee. D) Finance Commission. Show Answer Correct Answer: C) Chelliah Committee. 38. More expansion of foreign direct investment can boost: A) Supply. B) Unemployment. C) Money circulation. D) Employment. Show Answer Correct Answer: D) Employment. 39. What does the export surplus mean? A) When export of a country is more than import. B) Total export of a country. C) When export of current year of a country is more than previous year export. D) When import of a country is more than export. Show Answer Correct Answer: A) When export of a country is more than import. 40. Identify the second most traded currency around the world. A) Indian Rupee. B) Yuan. C) US Dollars. D) Euro. Show Answer Correct Answer: D) Euro. 41. A country is said to be in a debt trap if: [IAS 2002] A) It has to abide by the conditionalities imposed by the International Monetary Fund. B) It has to borrow to make interest payments on outstanding loans. C) It has been refused loans or aid by creditors abroad. D) The World Bank charges a very high rate of interest on outstanding as well as new loans. Show Answer Correct Answer: B) It has to borrow to make interest payments on outstanding loans. 42. GATT's first round held in A) Torquay. B) Geneva. C) Uruguay. D) Tokyo. Show Answer Correct Answer: B) Geneva. 43. ..... occurs when a firm invests resources in business activities outside its homecountry. A) Diversification. B) FDI. C) Cross nationalcommerce. D) None of theabove. Show Answer Correct Answer: B) FDI. 44. After textiles, India's second important industry is : A) Sugar. B) Jute. C) Cement. D) Iron and steel. Show Answer Correct Answer: D) Iron and steel. 45. In which of the following industries is the maximum number of women employed in India? [CDS 1993] A) Tea. B) Coal. C) Textile. D) Jute. Show Answer Correct Answer: A) Tea. 46. One reason direct investment may be prefered to portfolio is A) It fills the savings investment gap. B) It doesn't pose a threat to national sovereignty. C) It doesn't create an outflow on primary income. D) It is more long term and stable. Show Answer Correct Answer: D) It is more long term and stable. 47. Foreign Investment Policy announced in A) July 1991. B) July-August-1991. C) August 1991. D) June 1991. Show Answer Correct Answer: B) July-August-1991. 48. An action a government uses to control trade between countries A) Trade barrier. B) Voluntary trade. C) Free trade. D) None of the above. Show Answer Correct Answer: A) Trade barrier. 49. India is facing continuous deficit in BOP. In the foreign exchange market, rupee is expected to A) Depreciate. B) Appreciate. C) No specific tendency. D) All of the above. Show Answer Correct Answer: A) Depreciate. 50. Which trade centre in ancient India was the major place for export of stones? A) Taxila. B) Broach. C) Patliputra. D) Indraprastha. E) Peshawar. Show Answer Correct Answer: C) Patliputra. 51. India's foreign exchange system is A) Free float. B) Fixed. C) Managed float. D) None. Show Answer Correct Answer: C) Managed float. 52. When did Portuguese colonise India? A) 1602 BC. B) 1616 BC. C) 1498 BC. D) 1600 BC. Show Answer Correct Answer: C) 1498 BC. 53. Which were important trading community from south in ancient india A) Bhats. B) Chattiars. C) Mahajans. D) Ayangars. Show Answer Correct Answer: B) Chattiars. 54. The institution of ..... also played an important role during Mughal period and days of east India company, as intermediaries. A) Nagar Seths. B) Commercial and Industrial Banks. C) Commission Agents. D) Jagat Seths. Show Answer Correct Answer: D) Jagat Seths. 55. Which of the following measures is not likely to help in improving India's balance of payments position? A) Imposition of higher duty on imports. B) Encouragement of import substitution. C) Devaluation of the rupee. D) Imposition of higher duty on exports. Show Answer Correct Answer: D) Imposition of higher duty on exports. 56. Arbitrage implies: A) Practice of taking advantage of rice difference in two markets. B) The practice of under invoicing exports. C) The practice of dumping viz., selling goods in a foreign market cheaper than the home market. D) The practice of over-invoicing imports. Show Answer Correct Answer: A) Practice of taking advantage of rice difference in two markets. 57. Mashelkar Committee was constituted to report on : A) Constitutional changes. B) Economic policy. C) Black money. D) Auto fuel policy. Show Answer Correct Answer: D) Auto fuel policy. 58. Import substitution implies [Asstt Commdt 2011] A) Replacing import items by domestic production of such items. B) Gradual reduction of imported goods to save foreign exchange. C) Increasing domestic supply of goods by imposing import restrictions. D) Importing new items in place of old items of import. Show Answer Correct Answer: A) Replacing import items by domestic production of such items. 59. Drain of wealth means ..... ? A) Inflow of domestic wealth to other countries for their wealth. B) Outflow of domestic wealth to other countries for their wealth. Show Answer Correct Answer: B) Outflow of domestic wealth to other countries for their wealth. 60. Which part of separated UTI is under SEBl's regulation? A) UTI-I. B) UTI-II. C) Both the above. D) None of the above. Show Answer Correct Answer: B) UTI-II. Next →Related QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesIndustries Infrastructure And Foreign Trade Quiz 2Industries Infrastructure And Foreign Trade Quiz 3Globalisation And The Indian Economy QuizIndia S Foreign Policy QuizInternational Organisations And Human Development Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books