This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 12 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which is the most devloped state/Union Territory in India? A) Kerala. B) Goa. C) Chandigarh. D) Delhi. Show Answer Correct Answer: A) Kerala. 2. Capilalist is controlled and operated by A) Private sector. B) Public sector. C) Both a and b. D) Neither a nor b. Show Answer Correct Answer: A) Private sector. 3. Identify which of the following is not the reason for introducing economic reforms in India? A) Deficit in Balance of Trade. B) Deficit in Balance of Payments. C) Excess of foreign exchange reserve. D) Rise in Price essential goods. Show Answer Correct Answer: C) Excess of foreign exchange reserve. 4. Mahalanobis ideas were used in ..... five-year plan. A) First. B) Tenth. C) Second. D) Third. Show Answer Correct Answer: C) Second. 5. What is the youth unemployment rate in India according to the text? A) 7.7%. B) 40%. C) 5%. D) 8%. Show Answer Correct Answer: B) 40%. 6. Sushila is a worker in garment export industry of Agra. She gets facilities like health insurance provident fund, overtime at a double rate, medical leave, etc. She is working in: A) Tertiary sector. B) Organised sector. C) Unorganised sector. D) None of these. Show Answer Correct Answer: B) Organised sector. 7. When more people are engaged in a work than required-what does it indicate to? A) Unemployment. B) Seasonal Employment. C) Disguised Unemployment. D) None of these. Show Answer Correct Answer: C) Disguised Unemployment. 8. Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 9. Under Industrial Policy Resolution (IPR), 1956, Category II of the industrial sector includes industries jointly owned and controlled by the private sector and the state. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 10. The aviation industry in India is projected to increase six-fold to 5.1 billion passengers by 2040. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 11. The concept of Goods and Services Tax (GST) is originated in A) Canada. B) USA. C) Britain. D) Germany. Show Answer Correct Answer: A) Canada. 12. Tariffs and quotas perfect under industrial policy resolution 1956 was an objective of A) Increasing Exports. B) Increasing imports. C) Restricting imports and protect domestic firms from foreign competition. D) To increase foreign competition. Show Answer Correct Answer: C) Restricting imports and protect domestic firms from foreign competition. 13. Price support policy focuses on: A) Low price of the farm output. B) High price of the farm output. C) Stability of income from farming. D) Both I and III option. Show Answer Correct Answer: D) Both I and III option. 14. Which economic indicator shows the overall size of a country's economy? A) GSDP. B) GDP. C) PPP. D) None of the above. Show Answer Correct Answer: B) GDP. 15. The legislation of land ceiling to bring land reforms in India were successful in which two states? A) Bihar & Odhisha. B) Kerala & West Bengal. C) Odisha & Kerala. D) West Bengal & Bihar. Show Answer Correct Answer: B) Kerala & West Bengal. 16. Full form of FERA A) Foreign Exchange Regulation Act. B) Foreign Exchange Regulation Agency. C) Foreign Exchange Repulsive Agent. D) Foreign Expert Regulation Act. Show Answer Correct Answer: A) Foreign Exchange Regulation Act. 17. For up to how many Rupees will there be in 'No Global tenders for Government tenders'? A) Rs 100 crores. B) Rs 150 crores. C) Rs 200 crores. D) Rs 250 crores. Show Answer Correct Answer: C) Rs 200 crores. 18. What is monopoly? A) Board game. B) Control of supply of or trade of commodity or service. C) Being rich. D) Taking control. Show Answer Correct Answer: B) Control of supply of or trade of commodity or service. 19. What is the purpose of the journal 'Sankhya' started by Mahalanobis? A) To discuss political issues. B) To discuss statistical ideas. C) To promote industrialization. D) To increase foreign investments. Show Answer Correct Answer: B) To discuss statistical ideas. 20. What is current inflation rate in India? A) 4%. B) 4.54%. C) 3%. D) 3.34%. Show Answer Correct Answer: D) 3.34%. 21. Which sector employs a mojority of people in India? A) Agriculture sector. B) Industrial sector. C) Services sector. D) All of the above. Show Answer Correct Answer: A) Agriculture sector. 22. Cotton is a ..... product and cloth is a ..... product. A) Natural, manufactured. B) Natural, final. C) Final, manufactured. D) None of the above. Show Answer Correct Answer: A) Natural, manufactured. 23. The portion of agricultural produce which is sold in the market by farmers is called: A) Extra output. B) Deficit. C) Marketed Surplus. D) Surplus. Show Answer Correct Answer: C) Marketed Surplus. 24. The "License Raj" is associated with which policy period? A) Post-liberalization. B) Pre-1947. C) Statist period (1950-1980). D) None. Show Answer Correct Answer: C) Statist period (1950-1980). 25. Assertion:India's growth rate accelerated post-1980.Reason:Liberalization policies started in 1991. A) Both A and R are true, and R is the correct explanation. B) Both A and R are true, but R is not the correct explanation. C) A is true, R is false. D) Both A and R are false. Show Answer Correct Answer: B) Both A and R are true, but R is not the correct explanation. ← PreviousNext →Related 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 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 9Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books