This quiz works best with JavaScript enabled. Home > Class 11 > 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 (25 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. What does DTM stand for? A) Demographic Transnational Modelling. B) Demographic Transition Model. C) Decreasing Thermal Medicines. D) Developing Transition Model. Show Answer Correct Answer: B) Demographic Transition Model. 3. 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. 4. Repayment of loans is an example of: A) Capital Expenditure. B) Non-planned expenditure. C) Revenue expenditure. D) Planned expenditure. Show Answer Correct Answer: A) Capital Expenditure. 5. 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. 6. 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. 7. What was the maximum limit for investment in the small scale industrial unit in the year 1950 A) 5 lakh. B) 10 lakh. C) 1 crore. D) 5 crore. Show Answer Correct Answer: A) 5 lakh. 8. Short-term temporary unemployment caused by people being temporarily between jobs or entering the job market for the first time A) Employed. B) Structural unemployment. C) Frictional unemployment. D) Voluntary unemployment. E) Cyclical unemployment. Show Answer Correct Answer: C) Frictional unemployment. 9. What is the primary objective of the Industrial IDBI? A) Promoting tourism. B) Supporting agricultural projects. C) Fostering industrial development. D) Enhancing healthcare facilities. Show Answer Correct Answer: C) Fostering industrial development. 10. 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. 11. What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.? A) Multiple cropping. B) Green revolution. C) Crop insurance. D) HYV. Show Answer Correct Answer: C) Crop insurance. 12. What was the impact of excessive regulation on private sector firms? A) Encouraged innovation. B) Prevented efficiency. C) Increased competition. D) Reduced public sector size. Show Answer Correct Answer: B) Prevented efficiency. 13. 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. 14. What was laid out in 1951 as part of India's economic planning? A) The Second Five Year Plan. B) The First Five Year Plan. C) The Industrial Policy Resolution. D) The Directive Principles. Show Answer Correct Answer: B) The First Five Year Plan. 15. What type of economy is followed in India? A) Communist. B) Capitalist. C) Mixed. D) Socialist. Show Answer Correct Answer: C) Mixed. 16. 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. 17. 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. 18. Which of the following is not an activity of organised sector? A) Teacher teaching in Kendriya Vidyalaya. B) A nurse working in a Govt. hospital. C) A farmer irrigating his field. D) A clerk working in the post office. Show Answer Correct Answer: C) A farmer irrigating his field. 19. 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. 20. 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. 21. 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. 22. Who was the first chairperson of the Planning commission of India? A) Jawaharlal Nehru. B) Rajendra Prasad. C) Dadabhai Naoroji. D) R. C. Desai. Show Answer Correct Answer: A) Jawaharlal Nehru. 23. Which one is NOT a factor when determining the HDI of a country? A) Education. B) Health. C) Income. D) Miltary Size. Show Answer Correct Answer: D) Miltary Size. 24. 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. 25. 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. 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