This quiz works best with JavaScript enabled. Home > Indian Economy > History > Indian Economy 1950 1990 – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy 1950 1990 Quiz 4 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... refers to utilisation of country's resources in order to promote economic growth. A) Self-reliance. B) Sankhya. C) Land ceiling. D) Market surplus. Show Answer Correct Answer: A) Self-reliance. 2. Match the following:1. Marketed surplus A. Large increase in production of food grains resulting from the use of high yielding variety seeds especially for wheat and rice.2. Green Revolution B. Portion of agricultural produce which is sold in the market by the farmers.3. HYV Seeds C. Seeds that give large proportion of output 4. Land Reforms D. Improvements in the field of agriculture to increase its productivityWhich of the above are not matched correctly? A) 1 and 2. B) 1, 2 and 4. C) 2 and 4. D) 3 and 4. Show Answer Correct Answer: A) 1 and 2. 3. Inward looking trade strategy is also known as the policy of ..... A) Export promotion. B) Import substitution. C) Both. D) None of the above. Show Answer Correct Answer: B) Import substitution. 4. The five year planning in India was giving importance to "self reliance" which means ..... A) Avoiding imports of goods which could be produced in India. B) Reducing the dependence of Indian Economy on foreign countries. C) Both the statements. D) Only 1st statement. Show Answer Correct Answer: C) Both the statements. 5. Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported. A) True. B) False. Show Answer Correct Answer: B) False. 6. Under Import substitution trade policy: A) Instead of exporting vehicles made in india to foreign countries, industries would be encouraged to import them. B) Instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself. Show Answer Correct Answer: B) Instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself. 7. Self reliance means A) Avoiding imports. B) Produce goods in India which are imported from abroad. C) Export promotion. D) None of these. Show Answer Correct Answer: B) Produce goods in India which are imported from abroad. 8. Objectives of planning in India are ..... A) Growth. B) Self reliance. C) Modernization. D) All of these. Show Answer Correct Answer: D) All of these. 9. In which year India adopted High Yielding Varieties programme for the first time? A) 1977. B) 1966. C) 1986. D) 1956. Show Answer Correct Answer: B) 1966. 10. What does HYVs stand for? A) High Yeilding Variety Seeds. B) High Yeilding Various Seeds. C) None of the above. D) None of above. Show Answer Correct Answer: A) High Yeilding Variety Seeds. 11. The father of high yielding variety seeds is considered to be Norman Borlaug. A) True. B) False. Show Answer Correct Answer: A) True. 12. When was GST implemented? A) 2015. B) 2017. C) 2018. D) 2014. Show Answer Correct Answer: B) 2017. 13. What type of economy is followed in India? A) Communist. B) Capitalist. C) Mixed. D) Socialist. Show Answer Correct Answer: C) Mixed. 14. Subsidies do not allow prices to indicate the supply of a good. True/False? A) True. B) False. Show Answer Correct Answer: A) True. 15. Planning in India started with a heavy reliance on the ..... sector. A) Public. B) Private. C) Both a and b. D) None of the above. Show Answer Correct Answer: A) Public. 16. In India what type of economic system is being followed? A) Capitalism. B) Socialism. C) Mixed. D) Monarchy. Show Answer Correct Answer: C) Mixed. 17. Capilalist is controlled and operated by A) Private sector. B) Public sector. C) Both a and b. D) Neither a nor b. Show Answer Correct Answer: A) Private sector. 18. Evaluate the below statements related to land reforms.i) Just a year after independence, steps were taken to abolish intermediaries and to make the tillers the owners of land.ii) The purpose of land ceiling was to keep the concentration of land ownership in the hands of a selected few.Which of the above are correct? A) Only i. B) Only ii. C) Both i and ii. D) Neither i nor ii. Show Answer Correct Answer: A) Only i. 19. Schedule ..... comprise of industries which would be exclusively owned by the state: A) A. B) B. C) C. D) None. Show Answer Correct Answer: A) A. 20. Who formulates five year plans in India? A) R.B.I. B) Planning Commission. C) Parliament. D) Supreme court. Show Answer Correct Answer: B) Planning Commission. ← PreviousNext →Related QuizzesIndian Economy QuizzesIndian Economy 1950 1990 Quiz 1Indian Economy 1950 1990 Quiz 2Indian Economy 1950 1990 Quiz 3Indian Economy 1950 1990 Quiz 5Indian Economy 1950 1990 Quiz 6Indian Economy On The Eve Of Independence QuizNew Economic Policy Of 1991 Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books