1. Indian economy is a unique mixture of ?

  1. Secondary and Tertiary sector
  2. Public and Private sector
  3. Primary and Tertiary sector
  4. None of the above
View Answer

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 ?

  1. Agriculture
  2. Industries
  3. Business
  4. Transport
View Answer

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 ?

  1. Agricultural economy
  2. Developing economy
  3. Mixed Economy
  4. Market Economy
View Answer

Answer: Option(D).


Memory: No memory available.

4. Planned economy in India is based on ?

  1. Central system
  2. Gandhian system
  3. Socialist system
  4. Democratic system
View Answer

Answer: Option(C).


Memory: No memory available.

5. Which of following is not a tertiary sector of Indian economy ?

  1. Communication
  2. Business
  3. Industry
  4. Transport
View Answer

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 ?

  1. Reduction in tax rate
  2. Increase in wages
  3. Changes in industrial licensing policy
  4. Arrival of a lot of foreign currency
View Answer

Answer: Option(C).


Memory: No memory available.

7. Which of the following is not a secondary sector of Indian economy ?

  1. Electricity
  2. Agriculture
  3. Manufacturing
  4. All of the above
View Answer

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 –

  1. Massive unemployment
  2. Precedence of agriculture
  3. Precedence of business
  4. Both (A) and (B)
View Answer

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.

  1. 250
  2. 283
  3. 273
  4. 243
View Answer

Answer: Option(C).


Memory: No memory available.

10. Savings are low in India due to ?

  1. High expenditure and high national income
  2. Low national income and high expenditure
  3. Low wages and high expenditure
  4. High expenditure and low per capita income
View Answer

Answer: Option(B).


Memory: Owing to low savings, deficient in capital formation which is an important factor of production and manufacturing.

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