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 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 2 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Consider the following statements about Banking Transaction Tax:1. BCTT is a tax levied on cash transactions above a specified limit. 2. The purpose of BCTT is to trace the source of money. Which of the above statements are correct? A) 1 only. B) 2 only. C) Both 1 and 2. D) Neither 1 nor 2. Show Answer Correct Answer: C) Both 1 and 2. 2. Which of the following is a major challenge faced by the Indian economy? A) Low agricultural productivity. B) High inflation rates. C) High unemployment rates. D) Excessive foreign investment. Show Answer Correct Answer: C) High unemployment rates. 3. ..... industries help in preserving traditional art and culture of a country. A) Multinational. B) Mineral based. C) Large scale. D) Cottage. Show Answer Correct Answer: D) Cottage. 4. Employment in the service sector has ..... to the same extent as production. A) Increased. B) Not increased. C) Stabilized. D) Doubled. Show Answer Correct Answer: B) Not increased. 5. Globalisation leads to rapid movements of the following between countries: A) Goods and services. B) Investments. C) People. D) All the above. Show Answer Correct Answer: D) All the above. 6. Which statement about death rate is true. A) All deaths are caused by diseases. B) Adult deaths are only used when determining death rate. C) Death rate affects our population. D) Death rate does not affect our population. Show Answer Correct Answer: C) Death rate affects our population. 7. Consider the following statements about SCHEME FOR SUSTAINABLE STRUCTURING OF STRESSED ASSETS (S4A):1. S4A refers to the scheme to deal with stressed assets of banking sector. 2. Under this scheme, debt is converted into equity. Which of the above statements are correct? A) 1 only. B) 2 only. C) Both 1 and 2. D) Neither 1 nor 2. Show Answer Correct Answer: C) Both 1 and 2. 8. When was skill India launched? A) July 16 2018. B) July 17 2015. C) September 8 2006. D) July 16 2015. Show Answer Correct Answer: D) July 16 2015. 9. The IT and Business Process Outsourcing (BPO) industry is a major contributor to: A) Manufacturing exports. B) Agricultural exports. C) Service exports. D) Mining exports. Show Answer Correct Answer: C) Service exports. 10. What are the main reasons for India's trade deficit? A) Strong foreign investments boosting local manufacturing and exports. B) High imports of crude oil, gold, and electronics, coupled with slower export growth. C) High tariffs on imported goods and low domestic production. D) Increased exports of textiles and machinery, leading to a surplus. Show Answer Correct Answer: B) High imports of crude oil, gold, and electronics, coupled with slower export growth. 11. Human poverty is ..... income poverty. A) Lesser than. B) Larger than. C) Same as. D) Different from. Show Answer Correct Answer: B) Larger than. 12. Increase in Real Income should be over a ..... period A) Short. B) Long. C) Both. D) None. Show Answer Correct Answer: B) Long. 13. Which international organization provides loans to developing countries including India? A) International Monetary Fund. B) World Bank. C) Asian Development Bank. D) United Nations Development Programme. Show Answer Correct Answer: B) World Bank. 14. What are the key issues facing the industrial sector in India? A) High labor costs, outdated technology, limited market access. B) Inadequate infrastructure, regulatory challenges, skill shortages, access to finance, and environmental concerns. C) Excessive government support, overproduction, and low demand. D) Strong competition from foreign markets, high tariffs, and trade barriers. Show Answer Correct Answer: B) Inadequate infrastructure, regulatory challenges, skill shortages, access to finance, and environmental concerns. 15. Revenue expenditure does not include one of these A) Interest payment. B) Infrastructure development. C) Major subsidies. D) Defence expenditure. Show Answer Correct Answer: B) Infrastructure development. 16. WHAT WAS LIFE EXPECTANCY AT THE TIME OF INDEPENDANCE A) 25. B) 45. C) 65. D) 32. Show Answer Correct Answer: D) 32. 17. Which of the following is the cause of industrial pollution? A) Deforestation. B) Overpopulation. C) Industrial Waste Disposal. D) Global Warming. Show Answer Correct Answer: C) Industrial Waste Disposal. 18. Which countries are India's largest trading partners? A) France, Italy, South Africa. B) United States, China, United Arab Emirates. C) Germany, Japan, Brazil. D) Canada, Australia, Russia. Show Answer Correct Answer: B) United States, China, United Arab Emirates. 19. What is smartcity and when was it launched? A) It's a developed urban area . It was launched on 25 June 2015. B) It's a developed rural area . It was launched on 25 June 2015. C) It's undeveloped urban area it was launched on 15 January 2016. D) It's undeveloped rural area. It was launched on 16, January 2016. Show Answer Correct Answer: A) It's a developed urban area . It was launched on 25 June 2015. 20. In which sector activities are not guided by profit motive? A) Organized sector. B) Public sector. C) Private sector. D) Unorganised sector. Show Answer Correct Answer: B) Public sector. 21. By 2006, how many countries were the members of the World Trade Organisation? A) 139. B) 149. C) 159. D) 169. Show Answer Correct Answer: B) 149. 22. Organic farming improves the quality of life for farmers. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. Tillage is the agricultural preparation of soil by mechanical agitation using Tools & Implements of various types, such as digging, ploughing, overturning, stirring, cutting for: A) Harvesting and processing. B) Cultivation and seed bed preparation. C) Spraying and fertilizing. D) Pruning and maintenance. Show Answer Correct Answer: B) Cultivation and seed bed preparation. 24. How can a population grow? A) Emigration and death. B) Immigration and death. C) Immigration and birth. D) Emigration and birth. Show Answer Correct Answer: C) Immigration and birth. 25. Which scheme was started in 1993 to create self-employment opportunities for educated unemployed youth in rural areas and small towns? A) Prime Minister Rojgar Yojana. B) National Rural Employment Guarantee Act. C) Rural Employment Generation Programme. D) Swarnajayanti Gram Swarojgar Yojana. Show Answer Correct Answer: A) Prime Minister Rojgar Yojana. ← 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 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 10Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books