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 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 4 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What was the reported value of the correlation coefficient for international trade participation by a state & its prosperity in the Economic Survey of 2017-18? A) 0.38. B) 0.70. C) -0.46. D) 0.98. Show Answer Correct Answer: B) 0.70. 2. How does inflation impact the purchasing power of consumers? A) Inflation decreases the purchasing power of consumers. B) Inflation stabilizes the purchasing power of consumers. C) Inflation increases the purchasing power of consumers. D) Inflation has no effect on consumer purchasing power. Show Answer Correct Answer: A) Inflation decreases the purchasing power of consumers. 3. Seasonal unemployment A) Describes recent college graduates. B) Is predictable. C) Is a result of changes in technology. D) Slows the economy Slows the economy. Show Answer Correct Answer: B) Is predictable. 4. In which year India's first five year plan launched? A) 1951. B) 1947. C) 1940. D) 1950. Show Answer Correct Answer: A) 1951. 5. What is the area for the smart City project and where is it actually located? A) 550 acres. Gandhinagar near Ahmedabad in the state of Gujarat. B) 505 acres. Gandhinagar Vadodara in state of Gujarat. C) 560 acres. Gandhinagar Surat in state of Gujarat. D) 580 acres. Gandhinagar China in state of Gujarat. Show Answer Correct Answer: A) 550 acres. Gandhinagar near Ahmedabad in the state of Gujarat. 6. Which sector is known as the backbone of the Indian economy? A) Information Technology. B) Tourism. C) Agriculture. D) Manufacturing. Show Answer Correct Answer: C) Agriculture. 7. What are the disadvantages of skill India? A) Provide training, technical and financial support for various trades. B) Increase productivity as the existing workforce. C) Train citizens or unexpected to fulfill the demand for skilled manpower. D) It will focus on core sectors including gems and jewellery. Show Answer Correct Answer: C) Train citizens or unexpected to fulfill the demand for skilled manpower. 8. What is the primary sector of the Indian economy? A) Service sector and tourism. B) Manufacturing and industrial activities. C) Agriculture and allied activities. D) Mining and mineral extraction. Show Answer Correct Answer: C) Agriculture and allied activities. 9. Fair globalisation refers to ensuring benefits to: A) Labourers. B) Producers. C) Consumers. D) All the above. Show Answer Correct Answer: D) All the above. 10. Workers enjoy job security in: A) Agriculture Sector. B) Private Sector. C) Unorganized Sector. D) Organized Sector. Show Answer Correct Answer: D) Organized Sector. 11. Consider the following statements:1. All Bank ATMs are owned and operated by the concerned bank. 2. White label ATMs are operated by non bank entities. 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. 12. With respect to Deputy Governor of RBI, consider the following statements1) The RBI has four deputy governors 2) A central bank Deputy Governor can be appointed for a term with a maximum of five years or till the age of 60 Select the correct answer using the code given below. A) Only 1. B) Only 2. C) All of the above. D) None of the above. Show Answer Correct Answer: A) Only 1. 13. Increase in income should be based on increase in ..... capacity A) Consumption. B) Productive. C) Distributive. D) None. Show Answer Correct Answer: B) Productive. 14. Basket weaving is an example of A) Small scale industry. B) Cottage industry. C) Large scale industry. D) None of the above. Show Answer Correct Answer: B) Cottage industry. 15. National Income is: A) Sum of Rent paid during an accounting year. B) Sum of interest earned during an accounting year. C) Sum of wages paid during an accounting year. D) Sum of factor income during an accounting year. Show Answer Correct Answer: D) Sum of factor income during an accounting year. 16. Whiich Indian company was bought over by Cargill Foods-a large American MNC? Pick out the name from the alternatives provided A) Amul. B) Fun Foods Ltd. C) Agro Tech Foods Ltd. D) Parakh Foods. Show Answer Correct Answer: D) Parakh Foods. 17. The movement by people from one place to another with the intention of settling temporarily or permanently in a new location. A) Pull factor. B) Push factor. C) Distribution. D) Migration. Show Answer Correct Answer: D) Migration. 18. Which Indian state is the largest producer of rice? A) Andhra Pradesh. B) Uttar Pradesh. C) West Bengal. D) Punjab. Show Answer Correct Answer: C) West Bengal. 19. What has been the average GDP growth rate of India in the last decade? A) 4-5%. B) 8-9%. C) 10-11%. D) 6-7%. Show Answer Correct Answer: D) 6-7%. 20. Which of the following measures the number of persons who did not find work on a day, or on some days, during the survey week? A) UPS. B) UPSS. C) CWS. D) CDS. Show Answer Correct Answer: D) CDS. 21. Consider the following statements about Priority Sector Lending:1. Priority sector lending is applicable to those sectors which do not get easy credit from the market. 2. Export Credit, Education and Housing are components of Priority Sector lending. 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. 22. What is the lock in period for ELSS Investments currently? A) 2 Years. B) 3 Years. C) 4 Years. D) 5 Years. Show Answer Correct Answer: B) 3 Years. 23. Which sector has contributed the most to India's GDP growth? A) Agriculture sector. B) Manufacturing sector. C) Construction sector. D) Services sector. Show Answer Correct Answer: D) Services sector. 24. Consider the following statements1) Stocks are defined over a period of time 2) Flows are defined over a particular point of time Which of the following is/are correct? A) Only 1. B) Only 2. C) All of the above. D) None of them. Show Answer Correct Answer: D) None of them. 25. What is the secondary sector involved in? A) Extraction of raw materials. B) Collection of raw materials. C) Providing a service. D) Processing of raw materials into semi-finished and finished goods. Show Answer Correct Answer: D) Processing of raw materials into semi-finished and finished goods. ← 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 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