1. Indian economy is a unique mixture of ?

[A] Secondary and Tertiary sector

[B] Public and Private sector

[C] Primary and Tertiary sector

[D] 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 ?

[A] Agriculture

[B] Industries

[C] Business

[D] 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 ?

[A] Agricultural economy

[B] Developing economy

[C] Mixed Economy

[D] Market Economy

View Answer

ANSWER: Option(D).


MEMORY: No memory available.

4. Planned economy in India is based on ?

[A] Central system

[B] Gandhian system

[C] Socialist system

[D] Democratic system

View Answer

ANSWER: Option(C).


MEMORY: No memory available.

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

[A] Communication

[B] Business

[C] Industry

[D] 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 ?

[A] Reduction in tax rate

[B] Increase in wages

[C] Changes in industrial licensing policy

[D] 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 ?

[A] Electricity

[B] Agriculture

[C] Manufacturing

[D] 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 –

[A] Massive unemployment

[B] Precedence of agriculture

[C] Precedence of business

[D] 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.

[A] 250

[B] 283

[C] 273

[D] 243

View Answer

ANSWER: Option(C).


MEMORY: No memory available.

10. Savings are low in India due to ?

[A] High expenditure and high national income

[B] Low national income and high expenditure

[C] Low wages and high expenditure

[D] 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.