1. Indian economy is a unique mixture of ?
- Secondary and Tertiary sector
- Public and Private sector
- Primary and Tertiary sector
- None of the above
Answer: Option(B).
Memory: Indian economy is a mixture of public and private sector which is also known as mixed economy.
2. Primary sector of Indian economy is ?
- Agriculture
- Industries
- Business
- Transport
Answer: Option(A).
Memory: Since independence agriculture is still remained the primary sector of Indian economy and its contribution towards national income is about 13.9% (According to survey of 2013-2014). Total work-force of India is still agriculturist.
3. Which of the following is not true about the Indian economy ?
- Agricultural economy
- Developing economy
- Mixed Economy
- Market Economy
Answer: Option(D).
Memory: No memory available.
4. Planned economy in India is based on ?
- Central system
- Gandhian system
- Socialist system
- Democratic system
Answer: Option(C).
Memory: No memory available.
5. Which of following is not a tertiary sector of Indian economy ?
- Communication
- Business
- Industry
- Transport
Answer: Option(C).
Memory: Except industry, all other are tertiary sector while industry is a secondary sector.
6. Economic liberalisation in India started with which of the following ?
- Reduction in tax rate
- Increase in wages
- Changes in industrial licensing policy
- Arrival of a lot of foreign currency
Answer: Option(C).
Memory: No memory available.
7. Which of the following is not a secondary sector of Indian economy ?
- Electricity
- Agriculture
- Manufacturing
- All of the above
Answer: Option(B).
Memory: Except agriculture, all other are secondary sector of Indian economy while agriculture is a primary sector.
8. The Indian economy is characterised by –
- Massive unemployment
- Precedence of agriculture
- Precedence of business
- Both (A) and (B)
Answer: Option(D).
Memory: No memory available.
9. In India, a person is considered employed if he/she works for ________ days of a year for eight hours every day.
- 250
- 283
- 273
- 243
Answer: Option(C).
Memory: No memory available.
10. Savings are low in India due to ?
- High expenditure and high national income
- Low national income and high expenditure
- Low wages and high expenditure
- High expenditure and low per capita income
Answer: Option(B).
Memory: Owing to low savings, deficient in capital formation which is an important factor of production and manufacturing.