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 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 4 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Narrow Money is related t0 A) M2. B) M1. C) M3. D) M4. Show Answer Correct Answer: B) M1. 2. Small Scale Industries are: A) Labour intensive. B) Capital intensive. C) Both a) and b). D) None of these. Show Answer Correct Answer: A) Labour intensive. 3. The service sector is a major source of employment, providing jobs to 30.7% of the Indian population. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 4. Who is regarded as the architect of Indian planning? A) MS Swaminathan. B) Prasanta Chandra Mahalanobis. C) All the above. D) None of the above. Show Answer Correct Answer: B) Prasanta Chandra Mahalanobis. 5. The non-tax revenue in the following is: A) Corporate Tax. B) Dividends. C) Income Tax. D) Borrowings. Show Answer Correct Answer: B) Dividends. 6. In a capitalist economy, how are the central problems solved? A) Through government planning. B) Through market forces of demand and supply. C) Through community consensus. D) Through random selection. Show Answer Correct Answer: B) Through market forces of demand and supply. 7. 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. 8. Green Revolution started from which state in India? A) Punjab. B) West Bengal. C) Tamil Nadu. D) Maharashtra. Show Answer Correct Answer: A) Punjab. 9. During post green revolution (1965-2009), the average yield of wheat and rice has: A) Decreased. B) Increased. C) Remained stagnant. D) None of these. Show Answer Correct Answer: B) Increased. 10. What was reserved for the small-scale industry according to the Reservation for Small-Scale Industry policy? A) Large-scale projects. B) Export licenses. C) Foreign investments. D) A number of products. Show Answer Correct Answer: D) A number of products. 11. The value of all final goods and services produced within a country during a particular year. A) GDP. B) GNP. C) NNP. D) NDP. Show Answer Correct Answer: A) GDP. 12. Which organization is responsible for printing currency notes in India? A) Ministry of Finance. B) National Bank for Agriculture and Rural Development. C) State Bank of India. D) Reserve Bank of India. Show Answer Correct Answer: D) Reserve Bank of India. 13. When was the plan holiday declared? A) After the third plan. B) After the fifth plan. C) After the fourth plan. D) After the sixth plan. Show Answer Correct Answer: A) After the third plan. 14. The growth of an economy is measured by A) Financial measures. B) GDP. C) GNP. D) None of the above. Show Answer Correct Answer: B) GDP. 15. Which organisation conducts surveys on employment and unemployment in the country? A) NSSO. B) GDP. C) NSSP. D) BPO. Show Answer Correct Answer: A) NSSO. 16. Who of the following is the part of Governing Council of NITI Aayog? A) All Chief Ministers of the states. B) Chief Ministers of Delhi and Puducherry. C) Lieutenant Governor of Andaman & Nicobar Island. D) All of the above. Show Answer Correct Answer: A) All Chief Ministers of the states. 17. Industrial Development Bank of India (IDBI) was established in 1964 as a subsidiary of the World Bank. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 18. Service sector also includes some essential services that may not directly help in the production of goods. State whether true or false. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 19. Which of the following is not the function of the NITI Aayog? A) To evolve a shared vision of national development priorities sectors and strategies. B) To foster cooperative federalism. C) To give final approval to the Five Year Plans of India. D) To create a knowledge, innovation and entrepreneurial support system. Show Answer Correct Answer: C) To give final approval to the Five Year Plans of India. 20. Who is the current CEO of the NITI Aayog? A) Arvind Subramanyam. B) Rajeev Kumar. C) Narendra Modi. D) Amitabh Kant. Show Answer Correct Answer: D) Amitabh Kant. 21. Abolition of intermediateries and Land ceiling are part of A) Industrial reforms of India. B) External sector reforms in India. C) Land reforms in India. D) Banking reforms in India. Show Answer Correct Answer: C) Land reforms in India. 22. Primary sector is known as A) Agriculture sector. B) Service sector. C) Both a and b. D) None of the above. Show Answer Correct Answer: A) Agriculture sector. 23. ..... % of rural households in India come under small and marginal farmer category A) 73 %. B) 69 %. C) 80 %. D) 77 %. Show Answer Correct Answer: C) 80 %. 24. The private healthcare sector in India contributes to achieving universal health coverage and provides high-quality services. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 25. What is the full form of ASEAN? A) Organisation of South East Asian Nations. B) Administration of Southern East Asian Nations. C) Administration of South East Asian Nations. D) Association of South East Asian Nations. Show Answer Correct Answer: D) Association of South East Asian Nations. 26. How much could India's GDP increase by if it rebalanced its workforce, according to the IMF? A) 50%. B) 35%. C) 15%. D) 27%. Show Answer Correct Answer: D) 27%. 27. What is the primary decision-making factor in a capitalist economy? A) Government policies. B) Market demand. C) Social needs. D) Random selection. Show Answer Correct Answer: B) Market demand. 28. The unorganised sector is characterised by ..... A) Small and scattered units under the control of the government. B) Small and scattered units not under the control of the government. C) Large grouped units under the control of the government. D) None. Show Answer Correct Answer: B) Small and scattered units not under the control of the government. 29. ..... refer to taxes levied on imported goods. A) Quotas. B) Tariffs. C) Lagaan. D) None of these. Show Answer Correct Answer: B) Tariffs. 30. Which of the below is an example of unorganised sector? A) A teacher teaching in school. B) A headload worker carrying a bag of cement on his back in a market. C) A factory worker going to work in a big factory. D) None of the above. Show Answer Correct Answer: B) A headload worker carrying a bag of cement on his back in a market. 31. If auto workers lose their jobs as the industry becomes far more technically intensive and capital intensive, what form of unemployment occurs? A) Structural. B) Seasonal. C) Cyclical. D) Frictional. Show Answer Correct Answer: A) Structural. 32. What was the annual growth rate of the industrial sector during the first seven plans? A) 6%. B) 9%. C) 3%. D) 12%. Show Answer Correct Answer: A) 6%. 33. 2nd Five Year Plan started from A) 1951-1956. B) 1956-1961. C) 1969-1974. D) None of these. Show Answer Correct Answer: B) 1956-1961. 34. Which of the following is not not a source of Institutional agricultural credit A) Co-operative banks. B) SBI. C) Money lenders. D) NABARD. Show Answer Correct Answer: C) Money lenders. 35. Read the information given below and identify the correct option:Kamal works in rice mill. Jobs here are low paid and often not regular. There is no provision for overtime paid leave holidays, etc. Employment is not secure. People can be asked to leave without reason. A) Joint sector. B) Unorganised sector. C) Organised sector. D) Private sector. Show Answer Correct Answer: B) Unorganised sector. 36. When was NREGA implemented A) 2005. B) 2008. C) 2004. D) 2009. Show Answer Correct Answer: A) 2005. 37. Which of the following examples fall under an organised sector? A) A daily wage labourer working for a contractor. B) An engineer getting all employment benefits. C) A cleaning staff in a private school. D) A tailor stitching clothes at his home. Show Answer Correct Answer: B) An engineer getting all employment benefits. 38. The following sector is the largest contributor to GDP? A) Tertiary Sector. B) Primary Sector. C) Quaternery Sector. D) Secondary Sector. Show Answer Correct Answer: A) Tertiary Sector. 39. ..... shows how big the economy of a country is. A) GSDP. B) GDP. C) PPP. D) None of the above. Show Answer Correct Answer: B) GDP. 40. Which of the following was an obstacle in the development of industries after independence? A) Lack of economic infrastructure. B) Lack of inducement to invest. C) Lack of capital. D) All of these. Show Answer Correct Answer: D) All of these. 41. "Zero Defect Zero Effect" slogan is related to which of the following scheme? A) Startup India. B) Make in India. C) Digital India. D) Clean India mission. Show Answer Correct Answer: B) Make in India. 42. Small-scale industries are more 'labour intensive' i.e., they use more labour than the large-scale industries and, therefore, generate less employment. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 43. Which constitutional amendment is done to pass the GST bill? A) 120. B) 101. C) 115. D) 122. Show Answer Correct Answer: B) 101. 44. Which of the following steps promoted the growth of the economy as a whole by stimulating the development of industrial and tertiary sectors? A) Green Revolution. B) Colonial Rule. C) Planning. D) Independence. Show Answer Correct Answer: C) Planning. 45. The states where land reforms were successful A) Tamil Nadu & Maharashtra. B) Kerala & West Bengal. C) West Bengal & Maharashtra. D) Kerala & Tamil Nadu. Show Answer Correct Answer: B) Kerala & West Bengal. 46. Union Budget of India is presented by whom and in which house/ houses of the Parliament? A) Finance Minister of India; Lok Sabha. B) Prime Minister of India; Rajya Sabha. C) Cabinet Secretary; Both Lok Sabha and Rajya Sabha. D) President of India; in joint session of Parliament. Show Answer Correct Answer: A) Finance Minister of India; Lok Sabha. 47. True or False:Industrialisation in India began in the mid 20th century. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 48. Agrarian reform refer to: A) Technical reform in agriculture. B) Land reforms in agriculture. C) Both I and II. D) Neither I nor II. Show Answer Correct Answer: C) Both I and II. 49. What was required even for an existing industry to expand production? A) A license. B) A government subsidy. C) A tax exemption. D) A foreign partnership. Show Answer Correct Answer: A) A license. 50. Pick the incorrect option:GDP is defined as Gross Domestic Product of a country when we take into account the A) Value of final goods and services produced in each sector during a particular year, providing the total production of the sector for that year. B) The sum of production in the three sectors gives us the GDP. C) The value of intermediate goods that are used in making the final goods. D) None of the above is incorrect. Show Answer Correct Answer: C) The value of intermediate goods that are used in making the final goods. 51. What does NITI Aayog stand for? A) National Institute for Transforming India. B) National Initiative for Technological Innovation. C) National Institute for Trade and Industry. D) National Institute for Training and Innovation. Show Answer Correct Answer: A) National Institute for Transforming India. 52. According to Industry Policy Resolution 1956, the industries were reclassified into ..... category. A) 3. B) 2. C) 5. D) 4. Show Answer Correct Answer: A) 3. 53. In which of the following places we do not have a Currency printing press? A) Mysore. B) Dewas. C) Mumbai. D) Nasik. Show Answer Correct Answer: C) Mumbai. 54. Broad Money it related to A) M1. B) M4. C) M2. D) M3. Show Answer Correct Answer: D) M3. 55. The service sector contributes over 50% to India's GDP. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 56. Tata Iron and Steel Company was established in the year A) 1909. B) 1907. C) 1906. D) 1908. Show Answer Correct Answer: B) 1907. 57. Which is the primary objective of economic planning in India? A) Abolition of poverty. B) Removing unemployment. C) Reducing Inequalities of income. D) Growth with social justice. Show Answer Correct Answer: D) Growth with social justice. 58. What does HYVP stand for? A) High Yielding Varieties Products. B) High Yielding Various Programme. C) High Yielding Various Products. D) High Yielding Varieties Programme. Show Answer Correct Answer: D) High Yielding Varieties Programme. 59. This isn't a Sugar-producing state: A) Uttar Pradesh. B) Maharashtra. C) Odisha. D) None of the above. Show Answer Correct Answer: C) Odisha. 60. Optimum Population is that ideal population which provides ..... A) Minimum Income per head. B) Maximum Income per head. C) Average Income per head. D) None of the above. 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