This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Overview > Indian Economy – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy Quiz 3 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is extreme poverty? A) Living on less than $ 5 per day. B) Living on less than $ 1.9 per day. C) Living on less than $ 10 per day. D) Living on less than $ 2.5 per day. Show Answer Correct Answer: B) Living on less than $ 1.9 per day. 2. Which of the following is not true of social infrastructure? A) It includes the education and health network. B) It is aimed at improving quality of life. C) It is an investment in human capital. D) It is an investment in manufacturing sector. Show Answer Correct Answer: D) It is an investment in manufacturing sector. 3. In which year new economic reforms introduced in India? A) 1990. B) 1981. C) 1991. D) 1980. Show Answer Correct Answer: C) 1991. 4. Which one of the following activities can be included in primary sector A) Giving loans to the farmers. B) Making sugar from sugar cane. C) Cultivation of sugar cane. D) Providing storage facility for the grains. Show Answer Correct Answer: C) Cultivation of sugar cane. 5. The place where goods and services are exchanged A) Barter. B) Market. C) Resource. D) Currency. Show Answer Correct Answer: B) Market. 6. Who is the current Chief Executive Officer of the NITI Aayog of India? A) Dr. Rajiv Kumar. B) Shri Amitabh Kant. C) Prof. Ramesh Chand. D) Shri Bibek Debroy. Show Answer Correct Answer: B) Shri Amitabh Kant. 7. Period of 2nd five year policy A) 1951-56. B) 1961-66. C) 1966-71. D) 1956-61. Show Answer Correct Answer: D) 1956-61. 8. Which of the following statements best describes economic development? A) It is a quantitative concept. B) It always accompanies economic growth. C) It is reflected in the quality of life of the people. D) It indicates the increase in GDP. Show Answer Correct Answer: C) It is reflected in the quality of life of the people. 9. Where r most of the people employed A) Primary. B) Secondary. C) Tertiary. D) None of these. Show Answer Correct Answer: A) Primary. 10. Public health is a liability of ..... A) Private Sector. B) Primary Sector. C) Government. D) All of these. Show Answer Correct Answer: C) Government. 11. Ownership of asset and delivery of services is in the hands of private individuals or companies, known as ..... A) Public sector. B) Private sector. C) Organised sector. D) All of these. Show Answer Correct Answer: B) Private sector. 12. Only private interference is exist in which type of economy A) Mixed. B) Capitalist. C) Other. D) None of above. Show Answer Correct Answer: B) Capitalist. 13. What can cause a country to have a low literacy rate: A) Lack of quality of education. B) Lack of learning material and institutions. C) Lack of resources. D) All of the above. Show Answer Correct Answer: D) All of the above. 14. Development is about ..... A) People getting richer. B) Making people happier. C) Improving peoples quality of life. D) Building large cities. Show Answer Correct Answer: C) Improving peoples quality of life. 15. What type of unemployment is found in the agriculture sector of India? A) Disguised Unemployment. B) Voluntary unemployment. C) Frictional unemployment. D) None of the above. Show Answer Correct Answer: A) Disguised Unemployment. 16. What do you mean by Quotas? A) The quantity of goods which can be exported. B) The quantity of goods which can be Imported. C) Both (a) and ((b). D) None of these. Show Answer Correct Answer: B) The quantity of goods which can be Imported. 17. ..... relationship exists between water, sanitation, health, nutrition and human well-being. A) Direct. B) Indirect. C) Constant. D) All. Show Answer Correct Answer: A) Direct. 18. NO.18 GREEN REVOLUTION RESULTING FROM ..... A) NONE. B) TRADITIONAL IRRIGATION FACILITIES. C) USE OF MANURES. D) HYV SEEDS. Show Answer Correct Answer: D) HYV SEEDS. 19. The Konkan railway has connected places situated A) Along the east coast of India. B) Along the west coast of India. C) In the Himalayas. D) In the north-eastern region of the country. Show Answer Correct Answer: B) Along the west coast of India. 20. The FDI limit in the insurance sector in India is? A) 100 %. B) 49%. C) 26%. D) 79%. Show Answer Correct Answer: B) 49%. 21. The fiscal crisis faced by the Indian economy in 1990s was caused primarily by? A) Widening gap between imports and export. B) Difference between savings and investments. C) Widening gap between government expenditure and revenue. D) Difference between aggregate demand and aggregate supply. Show Answer Correct Answer: C) Widening gap between government expenditure and revenue. 22. Assertion(A):Rakesh is an educated and skilled worker who earns a high monthly salary as he is employed in a private bank in a city. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true and R is not the correct explanation of A. C) Assertion is true, but reason is false. D) Assertion is false, but reason is true. Show Answer Correct Answer: C) Assertion is true, but reason is false. 23. Schedule C industries development were left to: A) Public sector. B) Private sector. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: B) Private sector. 24. Assertion(A):In India, the primary sector is the largest employer. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true and R is not the correct explanation of A. C) A is true but R is false. D) A is false but R is true. Show Answer Correct Answer: B) Both A and R are true and R is not the correct explanation of A. 25. Launching of Sansad Adarsh Gram Yojna is related to the: A) Vallabh Bhai Patel. B) Deen Dayal Upadhyay. C) Mahatma Gandhi. D) Jai Prakash Narayan. Show Answer Correct Answer: D) Jai Prakash Narayan. 26. Two causes of poverty are: A) Weather and economics. B) Discrimination and economics. C) Economics and natural disasters. D) Economics and weather. Show Answer Correct Answer: B) Discrimination and economics. 27. Which one of the following is not the means of mass communication? A) Cards and envelopes. B) Radio. C) Newspaper. D) Films. Show Answer Correct Answer: A) Cards and envelopes. 28. Which was the last Five years plan in India A) Fourteenth Plan. B) Twelfth plan. C) Thirteenth Plan. D) Eleventh plan. Show Answer Correct Answer: B) Twelfth plan. 29. Green Revolution resulting from: A) Traditional Irrigation facilities. B) Use of manure. C) HYV seeds. D) None of these. Show Answer Correct Answer: C) HYV seeds. 30. What is the base year to calculate the National income in India? A) 2004-05. B) 2011-12. C) 2014-15. D) 2010-11. Show Answer Correct Answer: B) 2011-12. 31. Most of the housewives from middle class families in India put in hard work in doing the domestic chores. In which of the following categories will you place their unpaid services? A) Primary agricultural sector. B) Secondary industrial sector. C) Tertiary service sector. D) None of the above. Show Answer Correct Answer: D) None of the above. 32. Over the 40 years between 1973-74 and 2013-14, while production in all the 3 sectors has increased, it has increased the most in(choose the most appropriate option) A) Tertiary sector. B) Primary sector. C) Tertiary or service sector. D) Service sector. Show Answer Correct Answer: C) Tertiary or service sector. 33. Which of the following is known as the Paper Gold? A) US Dollar. B) Pound. C) Demand draft. D) Special Drawing Right. Show Answer Correct Answer: D) Special Drawing Right. 34. The Public Distribution System helps distribute A) Clothing. B) Grains. C) Vegetables. D) Electricity. Show Answer Correct Answer: B) Grains. 35. Which of the following measures did not form a part of fiscal corrections in 1991? A) Lowering of CRR and SLR. B) Lowering of bank rate. C) Raising CRR and SLR. D) Restricting imports of a essential commodities. Show Answer Correct Answer: C) Raising CRR and SLR. 36. How much income did tourism generate in 2010 during the commonwealth games? A) $ 1.69 million. B) $ 1.69 billion. C) $ 16.9 million. D) $ 16.9 billion. Show Answer Correct Answer: C) $ 16.9 million. 37. PRODUCTION OF A COMMODITY, MOSTLY THROUGH THE NATURAL PROCESS, IS AN ACTIVITY IN ..... A) INFORMATION TECHNOLOGY. B) PRIMARY. C) TERTIARY. D) SECONDARY. Show Answer Correct Answer: B) PRIMARY. 38. Pick the odd one out A) Delhi transport Corporation. B) Delhi metro Rail corporation. C) Reliance Industries. D) Air India. Show Answer Correct Answer: C) Reliance Industries. 39. Which of the following regions is suitable to construct railway lines? A) Himalaya mountains. B) Garo, Khasi and Jaintia Hills. C) The Northern Plains. D) Rajasthan desert. Show Answer Correct Answer: C) The Northern Plains. 40. Which sector has grown by 11 times in recent years A) Tertiary Sector. B) Primary Sector. C) Secondary Sector. D) None of above. Show Answer Correct Answer: A) Tertiary Sector. 41. Which of the following sector contribute highest to India's National Income? A) Agriculture Sector. B) Secondary Sector. C) Foreign Trade. D) Service Sector. Show Answer Correct Answer: D) Service Sector. 42. Who was the Chairman of the Indian's First Five Year Plan? A) P. C. Mahalanobis. B) Mahatmas Gandhi. C) Jawaharlal Nehru. D) None of these. Show Answer Correct Answer: C) Jawaharlal Nehru. 43. National Income in India is estimated by:- A) Finance Ministry. B) Central Statistical Organization. C) Planning Commission. D) Reserve Bank of India. Show Answer Correct Answer: B) Central Statistical Organization. 44. What you mean by tariffs? A) Tax Imposed on Imported Goods. B) Tax Imposed on exported goods. C) Tax Imposed on starting an Industry. D) None of these. Show Answer Correct Answer: A) Tax Imposed on Imported Goods. 45. Too many people working on one area of land A) Under-employed. B) Over-employed. C) Disguised employment. D) None of above. Show Answer Correct Answer: B) Over-employed. 46. Hidden unemployment is also called ..... A) Seasonal Unemployment. B) Disguised Unemployment. C) Educational Unemployment. D) None of these. Show Answer Correct Answer: B) Disguised Unemployment. 47. Farmers in California have had wonderful weather. They have produced the largest crop of watermelons in years. What will happen to the price of watermelons? A) Price will go down. B) Price will go up. C) Price may change. D) Price remains unaffected. Show Answer Correct Answer: A) Price will go down. 48. Total investment in public sector unit in 1951 was ..... A) 100 crores. B) 29 crores. C) 25 crores. D) 11, 08, 331 crores. Show Answer Correct Answer: B) 29 crores. 49. GDP of a country is based on ..... A) Total value of goods and services. B) Final value of goods and services. C) Initial value of goods and services. D) All of these. Show Answer Correct Answer: B) Final value of goods and services. 50. Literacy rate of a country affects its standard of living of the people A) Dont know. B) Maybe. C) False. D) True. Show Answer Correct Answer: D) True. 51. This quiz based on Sectors of Indian economy chapter is prepared by ..... A) R P Rao KV NEPA BARAPANI. B) SANDEEP TIWARY KV NEPA BARAPANI. C) JAGDEV SUTHAR KV NEPA BARAPANI. D) MEWA LAL KV NEPA BARAPANI. Show Answer Correct Answer: C) JAGDEV SUTHAR KV NEPA BARAPANI. 52. Private and public sectors run in which economy system A) Socialist. B) Mixed. C) Capitalist. D) Both socialist and capitalist. Show Answer Correct Answer: B) Mixed. 53. Gross domestic capital formation is defined as A) Net addition to stock after depreciation. B) Flow of expenditure devoted to increased or maintaining of the capital stock. C) Expenditure incurred on physical assets only. D) Production exceeding demand. Show Answer Correct Answer: A) Net addition to stock after depreciation. 54. In which year the MRTP Act has been started? A) January 1980. B) June 1975. C) June 1970. D) February 1996. Show Answer Correct Answer: C) June 1970. 55. D largest economy in the world as per purchase power parity A) China. B) US. C) Germany. D) India. Show Answer Correct Answer: D) India. 56. Which of the following policies may be used to increase money supply and lower interest rates? A) Expansionary fiscal policy. B) Contractionary monetary policy. C) Contractionary fiscal policy. D) Expansionary monetary policy. Show Answer Correct Answer: D) Expansionary monetary policy. 57. What is the full form of SSA? A) Social Shiksha Abhiyan. B) Sarva Seva Abhiyan. C) Sarva Shiksha Abhiyan. D) Social Service Abhiyan. Show Answer Correct Answer: C) Sarva Shiksha Abhiyan. 58. The latest devaluation of rupee was done in which of the following year? A) 1981. B) 1991. C) 1997. D) 1990. Show Answer Correct Answer: B) 1991. 59. How many sectors are there in an economy from these-Primary, Secondary and Tertiary sector ..... A) Two. B) Three. C) One. D) None of these. Show Answer Correct Answer: B) Three. 60. Which of the following country is not the member of the WTO? A) Iran. B) Azerbaijan. C) Belarus. D) None of these. Show Answer Correct Answer: D) None of these. ← PreviousNext →Related QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesIndian Economy Quiz 1Indian Economy Quiz 2Indian Economy Quiz 4Indian Economy Quiz 5 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books