This quiz works best with JavaScript enabled. Home > Indian Economy > Indian Economy 1950 1990 – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy 1950 1990 Quiz 3 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In a mixed economies, the government answer the three questions of what to produce, how to produce and how to distribute what is produced A) True. B) False. Show Answer Correct Answer: B) False. 2. The economic justification of subsidies in agriculture is, at present, a hotly debated question. Consider the following statements related to this.1. A substantial amount of fertiliser subsidy also benefits the fertiliser industry, not only farmers.2. The subsidy largely benefits the farmers in the more prosperous regions.3. Most farmers in India are very poor and they will not be able to afford the required inputs without subsidies.Select the correct statements using codes below A) 1 and 2. B) 1 and 3. C) 2 and 3. D) All of these. Show Answer Correct Answer: D) All of these. 3. Land ceiling refers to: A) Fix rural landholdings at the existing level. B) Fix land area for irrigation purposes. C) Fix urban landholdings at the existing level. D) Fix quantum of land held by an individual. Show Answer Correct Answer: D) Fix quantum of land held by an individual. 4. ..... refers to an arrangement by which central problems of an economy are solved. A) Economic System. B) Mixed Economy. C) Modernisation. D) Socialist economy. Show Answer Correct Answer: A) Economic System. 5. Adopting of new technology in the production of goods and services to increase the output is called ..... A) Economic Growth. B) Economic Welfare. C) Modernisation. D) Equity. Show Answer Correct Answer: C) Modernisation. 6. During the initial years after independence, the low productivity of Indian agricultural sector forced India to import food from which country? A) UK. B) USSR. C) USA. D) South America. Show Answer Correct Answer: C) USA. 7. Which seeds are called miracle seeds? A) Traditional seed. B) British Seed. C) S.Y.V seed. D) H.Y.V seed. Show Answer Correct Answer: D) H.Y.V seed. 8. The government budget is an A) Half yearly statement. B) Weekly statement. C) Five yearly statement. D) Annual statement. Show Answer Correct Answer: D) Annual statement. 9. ..... 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. 10. 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. 11. 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. 12. 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. 13. 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. 14. 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. 15. 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. 16. 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. 17. 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. 18. When was GST implemented? A) 2015. B) 2017. C) 2018. D) 2014. Show Answer Correct Answer: B) 2017. 19. What type of economy is followed in India? A) Communist. B) Capitalist. C) Mixed. D) Socialist. Show Answer Correct Answer: C) Mixed. 20. Subsidies do not allow prices to indicate the supply of a good. True/False? A) True. B) False. 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