This quiz works best with JavaScript enabled. Home > Indian Economy > Indian Economy – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Who estimates the GDP of Indian economy? A) CSO. B) NSSO. C) IMF. D) RBI. Show Answer Correct Answer: A) CSO. 2. Private sector works for A) Profit making. B) Social welfare. C) Both. D) None of the above. Show Answer Correct Answer: A) Profit making. 3. The book "Planning Economy for India" was written by? A) V.K.R.V. Rao. B) M.Visvesvaraya. C) K.N. Rai. D) Manmohan Singh. Show Answer Correct Answer: B) M.Visvesvaraya. 4. Indian economy system is ..... A) Capitalist. B) Socialist. C) Mixed. D) Other. Show Answer Correct Answer: C) Mixed. 5. What things affect people's access to food A) Time. B) Land. C) Money. D) Energy. E) Both b and c. Show Answer Correct Answer: E) Both b and c. 6. Paper currency first started in India in A) 1861. B) 1542. C) 1601. D) 1880. Show Answer Correct Answer: A) 1861. 7. Assertion (A):The development of agriculture and industry leads to the development of service sector. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true but 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: A) Both A and R are true and R is the correct explanation of A. 8. Which one of the following sectors is the largest employer in India? A) Primary. B) Secondary. C) Tertiary. D) IT sector. Show Answer Correct Answer: A) Primary. 9. Assertion(A):There are several goods and services that the society needs; however, the private sector does not produce all of them. 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: A) Both A and R are true and R is the correct explanation of A. 10. What is the Minimum Support Price of mustard for the season 2015-16? A) RS. 3175/ Q. B) RS. 3100/ Q. C) RS. 2900/ Q. D) RS. 3500/ Q. Show Answer Correct Answer: B) RS. 3100/ Q. 11. Employment in the service sector has ..... to the same extent as production. A) Increased. B) Not increased. C) Stabilized. D) None of above. Show Answer Correct Answer: B) Not increased. 12. Which bank is the first to introduce ATM in India? A) ICICI. B) HSBC. C) SBI. D) UCO BanK. Show Answer Correct Answer: B) HSBC. 13. If new computers are being installed in a company and some employees are fired from the job due to lack of computer knowledge then what kind of unemployment would it be called? A) Disguised Unemployment. B) Structural unemployment. C) Hidden unemployment. D) Frictional unemployment. Show Answer Correct Answer: B) Structural unemployment. 14. When was the planning Commission established? A) 1947. B) 1948. C) 1950. D) 1951. Show Answer Correct Answer: C) 1950. 15. What will happen if the government fails to provide 100 days employment under NREGA? A) No extra benefit will be given. B) The officer-in-charge will be punished. C) Unemployment allowance will be given. D) Food grains will be provided. Show Answer Correct Answer: C) Unemployment allowance will be given. 16. Under liberal policy, there has been removal of A) Restrictions. B) License. C) Trade. D) Both restrictions and license. Show Answer Correct Answer: A) Restrictions. 17. Not every good (or service) that is produced and sold needs to be counted. It makes sense only to include the ..... to get the total production? A) Values of goods and services in production. B) Final goods and services. C) Adding up the actual numbers of goods. D) Goods and services in the three sectors. Show Answer Correct Answer: B) Final goods and services. 18. Pawanhans Helicopters Limited provides helicopter services to ..... in its offshore operations A) ONGC. B) TATA STEEL. C) NTPC. D) None of above. Show Answer Correct Answer: A) ONGC. 19. Subsidies mean A) Payment by government for purchase of goods and services. B) Payment made by the government to business enterprises, without buying any goods and services. C) Payment made by companies to shareholders. D) Payment made by business enterprises to factors of production. Show Answer Correct Answer: B) Payment made by the government to business enterprises, without buying any goods and services. 20. Sustainable economic growth depends upon A) Investment, not saving. B) Saving, not investment. C) Both saving and investment. D) Neither saving nor investment. Show Answer Correct Answer: C) Both saving and investment. ← PreviousNext →Related QuizzesIndian Economy Quiz 1Indian Economy Quiz 2Indian Economy Quiz 3Indian Economy Quiz 4Indian Economy Quiz 6Indian Economy Quiz 7Indian Economy Quiz 8Indian Economy Quiz 9Indian Economy Quiz 10Indian Economy Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books