This quiz works best with JavaScript enabled. Home > Indian Economy > Indian Economy 1950 1990 – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy 1950 1990 Quiz 5 (14 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. NITI Aayog was formed on? A) 1 January 2014. B) 1 January 2015. C) 1 July 2015. D) 1 July 2014. Show Answer Correct Answer: B) 1 January 2015. 2. Import substitution policy aimed at replacing or substituting imports with ..... A) Export Promotion. B) Inward-looking trade strategy. C) Domestic production. D) None of these. Show Answer Correct Answer: C) Domestic production. 3. Long term plan is also termed as ..... A) Objectives of plan. B) Objective planning. C) Perspective planning. D) Both b and c. Show Answer Correct Answer: D) Both b and c. 4. One of the common goals of five year plans is 'growth'. What does the growth imply? A) A large stock of productive capital. B) A large size of supporting services like transport and banking. C) An Increase in the efficiency of productive capital and services. D) All of the above. Show Answer Correct Answer: D) All of the above. 5. A direct tax is a tax which is imposed on. A) Corporations only. B) None of these. C) Individuals only. D) Individuals and corporations. Show Answer Correct Answer: D) Individuals and corporations. 6. In a capitalist society the goods produced are distributed among people not on the basis of what people need but on the basis of what people can afford and are willing to purchase. This A) True. B) False. Show Answer Correct Answer: A) True. 7. Which of the following is the main focus of "Aatma Nirbhar Bharat Abhiyaan" announced by Prime Minister Narendra Modi to combat covid-19 crisis? A) Increasing tax on all imported goods. B) Fixing the quantity of imports. C) Enable India to become self reliant economy. D) None of the above. Show Answer Correct Answer: C) Enable India to become self reliant economy. 8. In which year was the Planning commission set up in India? A) 1947. B) 1948. C) 1949. D) 1950. Show Answer Correct Answer: D) 1950. 9. The Planning Commission was set up in: A) 1948. B) 1950. C) 1951. D) 1956. Show Answer Correct Answer: B) 1950. 10. In a market economy, is also called as ....., only those consumer goods will be produced that are in Demand. A) Capitalism. B) Socialism. C) Both A and B. D) None of these above. Show Answer Correct Answer: A) Capitalism. 11. The portion of agricultural produce which is sold in the market by the farmers is known as, A) Trade deficit. B) Marketed surplus. C) Subsidy. D) Import substitution. Show Answer Correct Answer: B) Marketed surplus. 12. What is the year of India's 12th 5-year plan? A) 2012-2017. B) 2007-2017. C) 1951-1056. D) 2002-2007. Show Answer Correct Answer: A) 2012-2017. 13. When did Industrial policy resolution take place in India? A) 1957. B) 1948. C) 1954. D) 1956. Show Answer Correct Answer: D) 1956. 14. A good indicator of growth is steady increase in the: A) Gross Domestic Product. B) Net Domestic Product. C) Population. D) National Income. Show Answer Correct Answer: A) Gross Domestic Product. ← PreviousRelated QuizzesIndian Economy 1950 1990 Quiz 1Indian Economy 1950 1990 Quiz 2Indian Economy 1950 1990 Quiz 3Indian Economy 1950 1990 Quiz 4Currency And Inflation QuizFiscal System Of India QuizGlobalisation And The Indian Economy QuizIndia S Foreign Policy QuizIndian Banking System And Capital Market QuizIndian Economic Development Policy QuizIndian Economy And Planning QuizIndian Economy On The Eve Of Independence QuizIndian Economy QuizIndustries Infrastructure And Foreign Trade QuizInternational Organisations And Human Development QuizLifelines Of Indian Economy QuizManufacturing Industries QuizNatural Resources And Indian Economy QuizNew Economic Policy Of 1991 QuizPoverty Unemployment And Alleviation Programmes QuizSectors Of The Indian Economy Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books