This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Economics Indian Economic Development > Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 1 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which sector of the economy deals with the extraction of raw materials? A) Primary sector. B) Secondary sector. C) Tertiary sector. D) None of the above. Show Answer Correct Answer: A) Primary sector. 2. The common goals of five year plans are: A) Modernisation. B) Growth. C) Self-reliance. D) All of the above. Show Answer Correct Answer: D) All of the above. 3. Repayment of loans is an example of: A) Revenue expenditure. B) Planned expenditure. C) Non-planned expenditure. D) Capital Expenditure. Show Answer Correct Answer: D) Capital Expenditure. 4. One of the cause for imposing trade barrier ..... A) To protect local small manufacturers. B) To encourage investment of MNC. C) To encourage foreign import. D) None of the above. Show Answer Correct Answer: A) To protect local small manufacturers. 5. Import substitution means: A) Importing of necessary items from abroad. B) Producing necessary goods at other countries. C) Producing necessary goods at home country. D) None. Show Answer Correct Answer: C) Producing necessary goods at home country. 6. What was the maximum limit for investment in the small scale industrial unit in the year 1950 A) 10 lakh. B) 1 crore. C) 5 crore. D) 5 lakh. Show Answer Correct Answer: D) 5 lakh. 7. Short-term temporary unemployment caused by people being temporarily between jobs or entering the job market for the first time A) Structural unemployment. B) Cyclical unemployment. C) Employed. D) Frictional unemployment. E) Voluntary unemployment. Show Answer Correct Answer: D) Frictional unemployment. 8. What is the primary objective of the Industrial IDBI? A) Fostering industrial development. B) Supporting agricultural projects. C) Enhancing healthcare facilities. D) Promoting tourism. Show Answer Correct Answer: A) Fostering industrial development. 9. Long term plan is also termed as ..... A) Objectives of plan. B) Objective planning. C) Perspective planning. D) Both b and c. Show Answer Correct Answer: D) Both b and c. 10. What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.? A) Crop insurance. B) Multiple cropping. C) Green revolution. D) HYV. Show Answer Correct Answer: A) Crop insurance. 11. What was the impact of excessive regulation on private sector firms? A) Increased competition. B) Encouraged innovation. C) Prevented efficiency. D) Reduced public sector size. Show Answer Correct Answer: C) Prevented efficiency. 12. Full form of GDP A) Gross domestic product. B) Gross dominant product. C) Gross dominance product. D) None of the above. Show Answer Correct Answer: A) Gross domestic product. 13. What was laid out in 1951 as part of India's economic planning? A) The Directive Principles. B) The First Five Year Plan. C) The Second Five Year Plan. D) The Industrial Policy Resolution. Show Answer Correct Answer: B) The First Five Year Plan. 14. What type of economy is followed in India? A) Mixed. B) Socialist. C) Capitalist. D) Communist. Show Answer Correct Answer: A) Mixed. 15. Fixing the maximum size of land which could be owned by an individual is called? A) Land fragmentation. B) Land ceiling. C) Land consolidation. D) Land upgradation. Show Answer Correct Answer: B) Land ceiling. 16. Assertion:Tax incentives are provided to foreign investors which further reduced the scope for raising tax revenues.Reason:This has a negative impact on developmental and welfare expenditures of the country. A) Both assertion and reason are true and reason is the correct explanation of assertion. B) Assertion and reason are true but reason is not the correct explanation of assertion. C) Assertion is true, reason is false. D) Assertion is false, reason is true. Show Answer Correct Answer: B) Assertion and reason are true but reason is not the correct explanation of assertion. 17. Which of the following is not an activity of organised sector? A) Teacher teaching in Kendriya Vidyalaya. B) A clerk working in the post office. C) A farmer irrigating his field. D) A nurse working in a Govt. hospital. Show Answer Correct Answer: C) A farmer irrigating his field. 18. The closer the HDI is to 0, the ..... developed the country is. A) Less. B) More. C) All the above. D) None of the above. Show Answer Correct Answer: A) Less. 19. Assertion (A):The main aim of capitalism is to earn maximum profit. Reason (R):Central problem in capitalism is solved through market forces of demand and supply. A) Assertion is false, reason is true. B) Assertion is true, reason is false. C) Assertion and reason are true but reason is not the correct explanation of assertion. D) Assertion and reason are true and reason is the correct explanation of assertion. Show Answer Correct Answer: D) Assertion and reason are true and reason is the correct explanation of assertion. 20. Who is known as the architect of Indian Planning? A) Jawaharlal Nehru. B) Dr. B. R. Ambedkar. C) PC Mahalanobis. D) Sardar Vallabhbhai Patel. Show Answer Correct Answer: C) PC Mahalanobis. 21. Who was the first chairperson of the Planning commission of India? A) R. C. Desai. B) Jawaharlal Nehru. C) Rajendra Prasad. D) Dadabhai Naoroji. Show Answer Correct Answer: B) Jawaharlal Nehru. 22. What function do the World Bank and International Monetary Fund serve? A) Give loans to developing countries. B) Subsidize global corporations. C) Act as a slush fund for international politicians. D) Finance refugee operations and relief efforts. Show Answer Correct Answer: A) Give loans to developing countries. 23. The number of live births per thousand of population per year. A) Birth Rate. B) Death Rate. C) Sex Ration. D) None of these. Show Answer Correct Answer: A) Birth Rate. 24. Which sector contributes the most to India's GDP? A) Agriculture. B) Mining. C) Services. D) Industry. Show Answer Correct Answer: C) Services. 25. Which of the following is the main objective of carrying out various economic activities for serving society? A) Profit. B) Competition. C) Equality. D) Public welfare. Show Answer Correct Answer: D) Public welfare. 26. In a capitalist society the goods produced are distributed among people not on the basis of what people need but on the basis of what people can afford and are willing to purchase. This A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 27. IDENTIFY THE CORRECT ANSWER FROM THE ALTERNATIVES PROVIDED.BOTH TISCO AN RELIANCE INDUSTRIES ARE OWNED BY: A) A COOPERATIVE SOCIETY. B) PRIVATE COMPANY. C) THE GOVERNMENT. D) JOINTLY BY PRIVATE AN THE GOVERNMENT. Show Answer Correct Answer: A) A COOPERATIVE SOCIETY. 28. Jet Airways is an example of A) Service Sector. B) Private Sector. C) Public Sector. D) All of these. Show Answer Correct Answer: B) Private Sector. 29. What is the term used to describe the change in the share of agriculture, industry, and service sectors as a country develops? A) Economic shift. B) Market transition. C) Structural change. D) Industrial revolution. Show Answer Correct Answer: C) Structural change. 30. Strategy of growth between 1951-1990 focused on: A) Import substitution. B) Export promotion. C) Leading role of public sector enterprises. D) Both I and III option. Show Answer Correct Answer: D) Both I and III option. 31. Schedule ..... comprise of industries which is exclusively by State. A) A. B) B. C) C. D) None of theses. Show Answer Correct Answer: A) A. 32. What was the primary focus of the First Five-Year Plan (1951-1956) A) Agriculture and rural development. B) Foreign investment. C) Heavy industries and public sector. D) Tourism and trade. Show Answer Correct Answer: A) Agriculture and rural development. 33. Consolidation of holding refers to: A) Conversion of scattered into a unified holding. B) Take over of small holdings by the government. C) Provision of inputs for higher output. D) All of these. Show Answer Correct Answer: A) Conversion of scattered into a unified holding. 34. GDP I is the sum of A) All the goods and services produced in a year. B) All the final goods and services produced in a year. C) All the intermediate goods produced in a year. D) All the services produced in a year. Show Answer Correct Answer: B) All the final goods and services produced in a year. 35. At independence, about ..... of the country's population was dependent on agriculture. A) 65%. B) 80%. C) 75%. D) 70%. Show Answer Correct Answer: C) 75%. 36. What was the period of the 12th five-year plan of India? A) 2010 to 2015. B) 2017 to 2022. C) 2012 to 2017. D) 2007 to 2012. Show Answer Correct Answer: C) 2012 to 2017. 37. What can be a Good Example Of Think-tank in the following. A) To solve classroom related issues, the teacher forms a group of students. this group discusses the problems and finds solutions to it. B) To solve classroom related issues, teacher forms a group with other teachers in the staff room to discuss the problems and find solutions to it. C) All the above. D) None of the above. Show Answer Correct Answer: A) To solve classroom related issues, the teacher forms a group of students. this group discusses the problems and finds solutions to it. 38. The Indian IT outsourcing service market is expected to witness 6-8% growth between 2021 and 2024. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 39. Self reliance means A) Avoiding imports. B) Produce goods in India which are imported from abroad. C) Export promotion. D) None of these. Show Answer Correct Answer: B) Produce goods in India which are imported from abroad. 40. Which one of the following example is an example of Optional Money? A) Bond. B) Coins. C) Cheque. D) Currency Note. Show Answer Correct Answer: C) Cheque. 41. On which commission's recommendations; Reserve Bank of India was established? A) Chamberlain Commission. B) Hilton Young Commission. C) Keynes Commission. D) None of the above. Show Answer Correct Answer: B) Hilton Young Commission. 42. It is a conscious design to shape the socio-economic processes in order to achieve an objective A) Economic development. B) Economic planning. C) Economic growth. D) Economic infrastructure. Show Answer Correct Answer: B) Economic planning. 43. What as the prime target of the first five-year plan of India? A) Development of infrastructure. B) Development of Agriculture. C) Development of ports. D) Development of the industries. Show Answer Correct Answer: B) Development of Agriculture. 44. Give any two examples of primary activities? A) Animal rearing and lumbering. B) Making cars. C) Manufacturing off chair. D) None of the above. Show Answer Correct Answer: A) Animal rearing and lumbering. 45. In which year did india have its highest growth rate A) 2007-12. B) 2014-15. C) 2012-13. D) 1980-91. Show Answer Correct Answer: B) 2014-15. 46. Which of the following is considered an indirect tax in India? A) Income Tax. B) Corporate Tax. C) Wealth Tax. D) Goods and Services Tax (GST). Show Answer Correct Answer: D) Goods and Services Tax (GST). 47. Protection and support of unorganised sector is needed for the ..... development of the people A) Economic. B) Economic and Social. C) Social. D) Mental. Show Answer Correct Answer: B) Economic and Social. 48. The Planning Commission was set up in: A) 1948. B) 1956. C) 1950. D) 1951. Show Answer Correct Answer: C) 1950. 49. Suppose the Indian government puts the tax on the import of toys from China, what would happen? A) Toys will get cheaper, more purchase by a customer. B) No effect. C) Toys will get expensive, less purchase by a customer. D) Toys will get expensive, more purchase by a customer. Show Answer Correct Answer: C) Toys will get expensive, less purchase by a customer. 50. Underemployment is a situation when people A) Do not want to work. B) Are not paid for their work. C) Are working in a lazy manner. D) Want to do job, but not getting. Show Answer Correct Answer: D) Want to do job, but not getting. 51. In which year, Government of India established 'Niti Aayog'? A) 2014. B) 2016. C) 2015. D) 2013. Show Answer Correct Answer: C) 2015. 52. NO.14 LIFE EXPECTANCY IN 1991 WAS A) 61 YEAR. B) 62 YEAR. C) 65 YEAR. D) 63 YEAR. Show Answer Correct Answer: A) 61 YEAR. 53. The second phase of India's industrialisation saw a continuous increase in production growth rates. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 54. Which of the following is Maharatna? A) BSNL. B) Hindustan Aeronautics Ltd. C) Airport Authority of India. D) Indian Oil Corporation Ltd. Show Answer Correct Answer: D) Indian Oil Corporation Ltd. 55. Economic planning especially after 1965 (mid of third plan) led to: A) Steady increase in agricultural production. B) Rise in agricultural productivity. C) Both rise in production and productivity. D) A continuous fall in agricultural production and productivity. Show Answer Correct Answer: C) Both rise in production and productivity. 56. Underemployment is found in- A) Agriculture sector. B) Services sector. C) Both agriculture sector and services sector. D) Agriculture Sector nor services sector. Show Answer Correct Answer: C) Both agriculture sector and services sector. 57. Birthrate was ..... during British Period A) 56. B) 48. C) 28. D) 39. Show Answer Correct Answer: B) 48. 58. Assertion:The government borrows only from banks to finance the deficit caused.Reason:Deficit is caused when expenditure is more than income. A) Both assertion and reason are true and reason is the correct explanation of assertion. B) Assertion and reason are true but reason is not the correct explanation of assertion. C) Assertion is true, reason is false. D) Assertion is false, reason is true. Show Answer Correct Answer: D) Assertion is false, reason is true. 59. Which of the following is a direct tax in India? A) Goods and Services Tax (GST). B) Income Tax. C) Customs Duty. D) Excise Duty. Show Answer Correct Answer: B) Income Tax. 60. Which of the following is an institutional reform in the agricultural sector A) Expansion of irrigation facilities. B) Use of HYV seeds. C) Ceiling on land Holdings. D) Provision of credit. Show Answer Correct Answer: C) Ceiling on land Holdings. Next →Related QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 2Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 3Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 4Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 5Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 6Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 7Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 8Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books