This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 2 Indian Economy (1950 1990) Quiz 14 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. 2. In India GDP is a ..... task that is taken up by ..... A) Enormous, Supreme Court. B) Mammoth, Central Govt. C) Huge, State Govt. D) Large, Central Govt. Show Answer Correct Answer: B) Mammoth, Central Govt. 3. In which year, India adopted high yielding varieties programme for the first time: A) 1977. B) 1966. C) 1986. D) 1956. Show Answer Correct Answer: B) 1966. 4. 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. 5. Borrowings are equivalent to: A) Revenue deficit. B) Primary deficit. C) Fiscal deficit. D) None of these. Show Answer Correct Answer: C) Fiscal deficit. 6. What is the relationship between modern technology and employment as mentioned in the document? A) Technology increases employment. B) Technology reduces the need for labor. C) Technology has no effect on employment. D) Technology only affects skilled labor. Show Answer Correct Answer: B) Technology reduces the need for labor. 7. 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. 8. Subsidies are A) Rights to increase trade with Great Britain and her colonies. B) Extra payments or bonuses to grow or produce certain crops. C) Permission to trade directly with other countries. D) Land payments which made it easier to remain in the colony. Show Answer Correct Answer: B) Extra payments or bonuses to grow or produce certain crops. 9. Which of the following is a direct tax? A) Corporation tax. B) Custom duty. C) Excise duty. D) Service tax. Show Answer Correct Answer: A) Corporation tax. 10. The portion of agricultural produce which is sold in the market by the farmers is called? A) Excess surplus. B) Marketable surplus. C) Agricultural produce. D) Exports. Show Answer Correct Answer: B) Marketable surplus. 11. 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. 12. What was required to start an industry according to the misuse of license policy? A) Government approval. B) A license from industrial houses. C) Foreign investment. D) Public sector partnership. Show Answer Correct Answer: B) A license from industrial houses. 13. 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. 14. 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. 15. When was SAARC established? A) 1967. B) 1995. C) 1953. D) 1985. Show Answer Correct Answer: D) 1985. 16. How do big private companies contribute to the development of a nation? A) By increasing the demands for their products through advertisements. B) By increasing their profits. C) By increasing productivity of the country in the manufacturing of industrial goods. D) By providing private hospital facilities for the rich. Show Answer Correct Answer: C) By increasing productivity of the country in the manufacturing of industrial goods. 17. When did the Third Phase of the Industrial Revolution in India start? A) 1965-1980. B) 1981-1991. C) 1951-1965. D) 1991 onwards. Show Answer Correct Answer: B) 1981-1991. 18. 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. 19. Communication and banking come under ..... sector. A) Tertiary. B) Primary. C) Government. D) Unsecure. Show Answer Correct Answer: A) Tertiary. 20. Who prepared the 11th five plan of India? A) Montek Singh. B) K. Kasturirajan. C) C. Rangarajan. D) Raghuraman Rajan. Show Answer Correct Answer: C) C. Rangarajan. 21. 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. 22. 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) Capitalist Economy. B) Socialist Economy. C) Market Economy. D) Mixed Economy. Show Answer Correct Answer: B) Socialist Economy. 23. 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) 2015. B) 2016. C) 2017. D) 2018. Show Answer Correct Answer: A) 2015. 24. 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. 25. Which of the following is not a method to calculate the Gross Domestic Product (GDP)? A) Income law. B) Product method. C) Expenditure method. D) Diminishing cost method. Show Answer Correct Answer: D) Diminishing cost method. ← 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