This quiz works best with JavaScript enabled. Home > Indian Economy > Overview > Indian Economy – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy Quiz 4 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. 2. Paper currency first started in India in A) 1861. B) 1542. C) 1601. D) 1880. Show Answer Correct Answer: A) 1861. 3. 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. 4. 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. 5. 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. 6. 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. 7. 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. 8. 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. 9. When was the planning Commission established? A) 1947. B) 1948. C) 1950. D) 1951. Show Answer Correct Answer: C) 1950. 10. 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. 11. 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. 12. 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. 13. Tariffs and quotas adopted under industrial policy was to ..... A) Increase export. B) Make exported goods cheaper. C) Increase foreign competition. D) Restrict imports and protect domestic firms from foreign competition. Show Answer Correct Answer: D) Restrict imports and protect domestic firms from foreign competition. 14. Nehru's reforms forbade large, private companies from participating in all of the following industries EXCEPT A) Electricity production. B) Steel production. C) Textiles. D) Automobile. Show Answer Correct Answer: D) Automobile. 15. The percentage of indirect taxes in the country's revenue is approximately A) 75. B) 86. C) 80. D) 70. Show Answer Correct Answer: B) 86. 16. NO.11 WHEN WAS PLANNING COMMISSION ESTABLISHED A) 25 MARCH 1951. B) 15 MARCH 1951. C) 5 MARCH 1951. D) 20 MARCH 1951. Show Answer Correct Answer: B) 15 MARCH 1951. 17. This quiz is based on chapter no 4 Globalisation and The Indian is prepared by- A) Jagdev Suthar KV NEPA. B) H S Verma KV NEPA. C) Sandeep Tiwary KV NEPA. D) A K Mishra KV NEPA. Show Answer Correct Answer: A) Jagdev Suthar KV NEPA. 18. Which of the following is the primary objective of Economic planning in India? A) Abolition of poverty. B) Removing unemployment. C) Growth with social justice. D) Reducing Inequalities of Income. Show Answer Correct Answer: C) Growth with social justice. 19. Which one is the correct option for the given statement? Dairy is a primary sector activity and not secondary sector despite the fact that 'industry' is attached to it, because A) Dairy products are availed through biological process of the animals. B) Availability of animal feed and fodder. C) The main product milk is a natural product. D) All of the above. Show Answer Correct Answer: D) All of the above. 20. Assertion (A):The value of final goods and services produced within a country in each sector in a particular year is known as Gross Domestic Product. 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. ← PreviousNext →Related QuizzesIndian Economy QuizzesIndian Economy Quiz 1Indian Economy Quiz 2Indian Economy Quiz 3Indian Economy Quiz 5Indian Economy Quiz 6Indian Economy Quiz 7Indian Economy Quiz 8Indian Economy Quiz 9Indian Economy Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books