This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 12 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Who wrote the book "How to pay for Money" ? A) Amartya Sen. B) Adam Smith. C) Karl Marx. D) Professor Keynes. Show Answer Correct Answer: D) Professor Keynes. 2. Which is an example of Pure Raw Material? A) Iron ore. B) Bauxite. C) Cotton. D) Crude oil. Show Answer Correct Answer: C) Cotton. 3. The word Dirigisme relates to A) Complete Capitalism. B) Complete control of economy by state. C) Positive role of state invention in economy. D) None of the above. Show Answer Correct Answer: C) Positive role of state invention in economy. 4. When income levels rise, certain sections of people start demanding many more services like ..... A) Defence. B) Tourism. C) More food. D) Hospitals. Show Answer Correct Answer: B) Tourism. 5. Which of the following tax will be abolished by the Goods and Services Tax A) Property tax. B) Corporation tax. C) VAT. D) None of the above. Show Answer Correct Answer: C) VAT. 6. Full form of NSDC. A) National school development corporation. B) National science development corporation. C) National skill development corporation. D) National sweet development corporation. Show Answer Correct Answer: C) National skill development corporation. 7. Which among the following is not an international agreement centered around Finance and Economic Cooperation? A) Abuja Treaty. B) Kyoto protocol. C) Cooperation Council for the Arab States of the Gulf. D) None of the above. Show Answer Correct Answer: B) Kyoto protocol. 8. Among the following estimators whose estimates of per capita income of India during the colonial period was considered very significant: A) Dadabhai Naoroji. B) William Digby. C) R.C. Desai. D) V.K.R.V. Rao. Show Answer Correct Answer: D) V.K.R.V. Rao. 9. A:Female labour participation in India is low.R:Cultural norms and domestic responsibilities limit women's economic participation. A) Both A and R are true, and R is the correct explanation of A. B) Both A and R are true, but R is not the correct explanation of A. C) A is true, but R is false. D) A is false, but R is true. Show Answer Correct Answer: A) Both A and R are true, and R is the correct explanation of A. 10. Which initiative aims to transform sub-centers and primary health centers into Health and Wellness Centers (HWCs) in India? A) Swachh Bharat. B) Digital India. C) Make in India. D) Ayushman Bharat. Show Answer Correct Answer: D) Ayushman Bharat. 11. Consider the following statements1) Primary sector hosts majority of workers 2) Unemployment is more in urban than in rural Which of the statements given above are correct? A) Only 1. B) Only 2. C) All of the above. D) None of the above. Show Answer Correct Answer: C) All of the above. 12. The by-product of the sugar industry which is used in manufacturing paper and newsprint ..... A) Molasses. B) Wood pulp. C) Paper industry. D) Bagasse. Show Answer Correct Answer: D) Bagasse. 13. Palma ratio is A) It is the ratio of richest 10% of the population share of gross national income divided by the poorest 40% share. B) It is the ratio of the poorest 40% of the population share of gross national income divided by the richest 10% share. C) It is the ratio of the richest 10% of the population share of gross national income divided by the poorest 60% share. D) None of the above. Show Answer Correct Answer: A) It is the ratio of richest 10% of the population share of gross national income divided by the poorest 40% share. 14. What is not true for the Monetary Policy Committee A) To set up a benchmark Interest rate. B) They maintain a 7 day period of silence after making a decision. C) The Finance secretary is a part of this committee. D) They set the inflation tolerance rate. Show Answer Correct Answer: C) The Finance secretary is a part of this committee. 15. Which legislation regulates industrial relations in India? A) Industrial Disputes Act, 1947. B) Workplace Relations Act, 1996. C) Labor Relations Act, 2004. D) Employment Rights Act, 1996. Show Answer Correct Answer: A) Industrial Disputes Act, 1947. 16. How has the COVID-19 pandemic affected the Indian economy? A) The Indian economy thrived during the pandemic, with increased consumer spending. B) The pandemic led to a rapid growth in the tech sector, boosting employment rates. C) The COVID-19 pandemic caused a severe contraction in the Indian economy, impacting various sectors and leading to increased unemployment and inflation. D) COVID-19 had no significant impact on the agricultural industry in India. Show Answer Correct Answer: C) The COVID-19 pandemic caused a severe contraction in the Indian economy, impacting various sectors and leading to increased unemployment and inflation. 17. Which one of this is not payment of nine pillar of digital India. A) E governance. B) IT for jobs. C) Public internet access. D) Information of all bank details. Show Answer Correct Answer: D) Information of all bank details. 18. What is the main objective of the Planning Commission of India? A) To oversee the implementation of international trade agreements. B) To regulate the banking sector in India. C) To manage the country's defense budget. D) To formulate and implement five-year plans for economic development. Show Answer Correct Answer: D) To formulate and implement five-year plans for economic development. 19. Where are the employment and non-employment figures taken from to study the data? A) Real-Time Handbook of Statistics on Indian Economy. B) National Statistical Office (NSO). C) NITI Aayog. D) Statistics information Bureau. Show Answer Correct Answer: C) NITI Aayog. 20. TISCO and IRL belong to which sector A) Public sector. B) Private sector. C) All the above. D) None of the above. Show Answer Correct Answer: B) Private sector. 21. Industries pollute water because ..... A) They directly dump waste materials into water bodies. B) They don't use water. C) They consume large amounts of water. D) None of the above. Show Answer Correct Answer: A) They directly dump waste materials into water bodies. 22. In this method, bulk organic waste is converted into fertilizer by biological action. A) Landfill. B) Incineration. C) Composting. D) None of the above. Show Answer Correct Answer: C) Composting. 23. Spot the lie! A) Tomatoes and avocados are fruits, not vegetables. B) Neptune is no longer a planet. C) Water covers 70% of the Earth. D) None of the above. Show Answer Correct Answer: B) Neptune is no longer a planet. 24. What challenges does the service sector face in India? A) High employee turnover, lack of innovation, limited market access. B) Strong international partnerships, abundant resources, high wages. C) Excessive government support, overqualified workforce, low demand. D) Inadequate infrastructure, regulatory hurdles, skill shortages, competition, and quality issues. Show Answer Correct Answer: D) Inadequate infrastructure, regulatory hurdles, skill shortages, competition, and quality issues. 25. State the biologically determined natural sex ratio at birth. A) 95 boys per 100 girls. B) 100 boys per 100 girls. C) 105 boys per 100 girls. D) 184 boys per 100 girls. Show Answer Correct Answer: C) 105 boys per 100 girls. ← PreviousNext →Related QuizzesClass 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 1Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 2Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 3Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 4Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 5Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 6Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 7Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 8Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 9Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books