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 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 6 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What was India's GDP as a percentage of China's GDP in 1980? A) 50%. B) 17%. C) 64%. D) 28%. Show Answer Correct Answer: C) 64%. 2. What is the contribution of different sectors to the GDP called? A) Sectoral composition. B) Structural composition. C) Economic composition. D) Industrial composition. Show Answer Correct Answer: A) Sectoral composition. 3. When was the National Development Council (NDC) set up as an adjunct to the Planning Commission? A) 1950. B) 1952. C) 1951. D) 1969. Show Answer Correct Answer: B) 1952. 4. The third phase of India's industrialisation spanned from 1981 to 1991. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 5. Union Budget is the budget of A) Local Government. B) Election Commission. C) State Government. D) Central Government. Show Answer Correct Answer: D) Central Government. 6. When was SEBI constituted? A) July, 1992. B) Dec. 1974. C) March, 1982. D) April, 1988. Show Answer Correct Answer: D) April, 1988. 7. Inward looking trade strategy is also known as the policy of ..... A) Export promotion. B) Import substitution. C) Both. D) None of the above. Show Answer Correct Answer: B) Import substitution. 8. On July 12, 1982, the ARDC was merged into A) RBI. B) NABARD. C) EXIM Bank. D) None of the above. Show Answer Correct Answer: B) NABARD. 9. The financial sector includes A) Banks. B) Insurance companies. C) Stock markets. D) All of the above. Show Answer Correct Answer: D) All of the above. 10. What type of unemployment is found in developed countries? A) Voluntary unemployment. B) Structural unemployment. C) Involuntary unemployment. D) Disguised Unemployment. Show Answer Correct Answer: A) Voluntary unemployment. 11. Narender Modi is the chairman of NITI ayog? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 12. In India GDP is a ..... task that is taken up by ..... A) Huge, State Govt. B) Mammoth, Central Govt. C) Large, Central Govt. D) Enormous, Supreme Court. Show Answer Correct Answer: B) Mammoth, Central Govt. 13. In which year, India adopted high yielding varieties programme for the first time: A) 1956. B) 1966. C) 1986. D) 1977. Show Answer Correct Answer: B) 1966. 14. The Indian Iron and Steel Company (ISCO) was established by Tata Group. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 15. Borrowings are equivalent to: A) Revenue deficit. B) Primary deficit. C) Fiscal deficit. D) None of these. Show Answer Correct Answer: C) Fiscal deficit. 16. What is the relationship between modern technology and employment as mentioned in the document? A) Technology has no effect on employment. B) Technology reduces the need for labor. C) Technology increases employment. D) Technology only affects skilled labor. Show Answer Correct Answer: B) Technology reduces the need for labor. 17. Assertion:-The economic justification of subsidies in agriculture is, at present, a hotly debated question.Reason:-The zamindari system has not been abolished so far. A) Both Assertion and reason are true and reason is correct explanation of assertion. B) Both Assertion and reason are true and reason is not correct explanation of assertion. C) Assertion is true, reason is false. D) Not enough information provided. Show Answer Correct Answer: C) Assertion is true, reason is false. 18. Which of the following is a direct tax? A) Corporation tax. B) Excise duty. C) Service tax. D) Custom duty. Show Answer Correct Answer: A) Corporation tax. 19. The portion of agricultural produce which is sold in the market by the farmers is called? A) Agricultural produce. B) Excess surplus. C) Marketable surplus. D) Exports. Show Answer Correct Answer: C) Marketable surplus. 20. The five year planning in India was giving importance to "self reliance" which means ..... A) Avoiding imports of goods which could be produced in India. B) Reducing the dependence of Indian Economy on foreign countries. C) Both the statements. D) Only 1st statement. Show Answer Correct Answer: C) Both the statements. 21. What was required to start an industry according to the misuse of license policy? A) Foreign investment. B) A license from industrial houses. C) Government approval. D) Public sector partnership. Show Answer Correct Answer: B) A license from industrial houses. 22. Agriculture, dairy, fishing, and forestry are examples of ..... A) Tertiary Sector. B) Secondary Sector. C) Primary Sector. D) None of the above. Show Answer Correct Answer: C) Primary Sector. 23. What are the Pillars of Self-Reliant India Movement? A) Infra-structure. B) Economy. C) Demography. D) All the above. Show Answer Correct Answer: D) All the above. 24. When was SAARC established? A) 1953. B) 1985. C) 1967. D) 1995. Show Answer Correct Answer: B) 1985. 25. When did the Third Phase of the Industrial Revolution in India start? A) 1991 onwards. B) 1981-1991. C) 1965-1980. D) 1951-1965. Show Answer Correct Answer: B) 1981-1991. 26. The motive of public sector enterprises is A) Profit making. B) Entertainment. C) Social welfare and security. D) None of the above. Show Answer Correct Answer: C) Social welfare and security. 27. Communication and banking come under ..... sector. A) Tertiary. B) Unsecure. C) Government. D) Primary. Show Answer Correct Answer: A) Tertiary. 28. Who prepared the 11th five plan of India? A) Raghuraman Rajan. B) Montek Singh. C) K. Kasturirajan. D) C. Rangarajan. Show Answer Correct Answer: D) C. Rangarajan. 29. In a mixed economies, the government answer the three questions of what to produce, how to produce and how to distribute what is produced A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 30. An economy in which economic decision are taken by some Central authority of the government with a view to maximising social welfare is called: A) Socialist Economy. B) Mixed Economy. C) Capitalist Economy. D) Market Economy. Show Answer Correct Answer: A) Socialist Economy. 31. In the field of Economic Planning in India the government of India substituted NITI Ayog for Planning Commission and the on going five year planning concept abolished in which year? A) 2017. B) 2018. C) 2016. D) 2015. Show Answer Correct Answer: D) 2015. 32. State Financial Corporations (SFCs) play a role in the promotion and development of small-scale industrial enterprises. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 33. Which of the following is not a method to calculate the Gross Domestic Product (GDP)? A) Diminishing cost method. B) Income law. C) Expenditure method. D) Product method. Show Answer Correct Answer: A) Diminishing cost method. 34. CHOOSE ONE CORRECT STATEMENT FROM THE FOLLOING:UNEMPLOYMENT OCCURS- A) WHEN PEOPLE ARE NOT PAID OR THEIR JOBS. B) WHEN PEOPLE ARE WORKING SLOWLY. C) WHEN PEOPLE ARE NOT WILLING TO WORK. D) WHEN PEOPLE ARE WORKING LESS THAN WHAT THEY ARE CAPABLE OF DOING. Show Answer Correct Answer: D) WHEN PEOPLE ARE WORKING LESS THAN WHAT THEY ARE CAPABLE OF DOING. 35. Bengal Famine took place in the year A) 1933. B) 1943. C) 1963. D) 1953. Show Answer Correct Answer: B) 1943. 36. If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits A) Will decrease. B) Will increase. C) Will neither increase nor decrease. D) None of the above. Show Answer Correct Answer: C) Will neither increase nor decrease. 37. THE SECONDARY SECTOR IS ALSO CALLED A) PUBLIC SECTOR. B) ORGANISED SECTOR. C) INDUSTRIAL SECTOR. D) SERVICE SECTOR. Show Answer Correct Answer: C) INDUSTRIAL SECTOR. 38. Import substitution policy aimed at replacing or substituting imports with ..... A) Export Promotion. B) Inward-looking trade strategy. C) Domestic production. D) None of these. Show Answer Correct Answer: C) Domestic production. 39. In which year, India adopted the 'Planning Approach'? A) 1957. B) 1951. C) 1947. D) 1955. Show Answer Correct Answer: B) 1951. 40. Fixing the maximum size of land which could be owned by an individual is known as: A) Land reforms. B) Land ceiling. C) Zamindari. D) Land holdings. Show Answer Correct Answer: B) Land ceiling. 41. Who exploited the peasants in the permanent settlement? A) Lambardars. B) British. C) Zamindars. D) None of the above. Show Answer Correct Answer: C) Zamindars. 42. Give two examples of secondary sector A) Manufacturing of car. B) Manufacturing of chair. C) Both a and b. D) None of the above. Show Answer Correct Answer: C) Both a and b. 43. Which of these does the DTM not include? A) Birth rate. B) Death rate. C) Migration. D) Population. Show Answer Correct Answer: C) Migration. 44. Which of the following is not matched correctly about NITI Aayog? A) NITI Aayog head office:Delhi. B) Prime Minister:Chairman. C) Parent Agency:Government of India. D) NITI Aayog replaced:National Development Council. Show Answer Correct Answer: D) NITI Aayog replaced:National Development Council. 45. Regional imbalances in industrial development have not been a concern for India. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 46. Land reforms primarily refer to: A) Change in the ownership of landholdings. B) Abolition of intermediaries. C) Use of technology in agriculture. D) Fixing the maximum size of land which could be owned by individual. Show Answer Correct Answer: A) Change in the ownership of landholdings. 47. Who regulates finance market in India? A) Ministry of finance. B) Reserve bank of India. C) Ministry of trade and commerce. D) SEBI. Show Answer Correct Answer: D) SEBI. 48. The group of people who suffered the most because of land revenue. A) Zamindars. B) Mahalwaris. C) Ryots. D) None of the above. Show Answer Correct Answer: C) Ryots. 49. Budgetary policies are implemented by the. A) Foreign sector. B) Private sector. C) Finance ministry. D) Government. Show Answer Correct Answer: D) Government. 50. Which country has the most number of billionaires in the world? A) India. B) USA. C) China. D) United Kingdom. Show Answer Correct Answer: B) USA. 51. Why did farmers in Soviet Union pack rotten fruits with fresh fruits in the same box? A) Farmers were not aware. B) Farmers were not trained. C) In the absence of ownership. farmers did not have the incentive to be efficient. D) Farmers did it purposefully to spoil all fruits. Show Answer Correct Answer: C) In the absence of ownership. farmers did not have the incentive to be efficient. 52. Two factors that enabled Globalisation ..... A) Foreign Trade and Foreign Investment. B) World Trade organisation and Exports. C) Development in Technology and Liberalization of Foreign Trade. D) None of the above. Show Answer Correct Answer: C) Development in Technology and Liberalization of Foreign Trade. 53. Activities involved in taking agricultural output from the fields to the selling place and consumers is called: A) Agricultural marketing. B) Labour migration. C) Agricultural credit. D) Cost of agricultural production. Show Answer Correct Answer: A) Agricultural marketing. 54. A kind of unemployment in which there are people who are visibly employed but are actually unemployed. This situation is also known as Hidden Unemployment. In such a situation more people are engaged in a work than required. A) Seasonal unemployment. B) Structural unemployment. C) Disguised unemployment. D) Cyclical unemployment. Show Answer Correct Answer: C) Disguised unemployment. 55. What term is used to describe the sector that involves research and development activities? A) Quinary sector. B) Secondary sector. C) Primary sector. D) None of the above. Show Answer Correct Answer: A) Quinary sector. 56. What kind of Tax is GST? A) Direct Tax. B) Indirect Tax. C) Depends on the type of goods and services. D) None of the above. Show Answer Correct Answer: B) Indirect Tax. 57. Legally stipulated maximum size beyond which no individual farmer can hold any land A) Tenancy reforms. B) Abolition of intermediaries. C) Land consolidation. D) Land Ceiling. Show Answer Correct Answer: D) Land Ceiling. 58. Who is the Apex body in Indian Banking System? A) RBI. B) NABARD. C) IRDA. D) SEBI. Show Answer Correct Answer: A) RBI. 59. Human Development Index is not related to ..... A) Life Expectancy. B) Per Capita Income. C) Gross Domestic Product. D) Education. Show Answer Correct Answer: C) Gross Domestic Product. 60. Which revolution increased food grain production in India? A) White. B) Blue. C) Green. D) Yellow. Show Answer Correct Answer: C) Green. ← PreviousNext →Related QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 1Class 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 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