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 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 7 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The concept of Universal Basic Income (UBI) in India was discussed in: A) 1991 Economic Survey. B) 2016-17 Economic Survey. C) 2005 Planning Commission Report. D) 2010 NITI Aayog Paper. Show Answer Correct Answer: B) 2016-17 Economic Survey. 2. How does the demographic transition model relate to developing nations like India? A) It doesn't relate at all. B) Developing nations move through the transitions faster. C) Developing nations move through the transitions slower. D) It is actually based on the developing nations. Show Answer Correct Answer: B) Developing nations move through the transitions faster. 3. Industrial activities result in deforestation because ..... A) They require large amounts of wood for construction. B) They cause global warming. C) They produce too much waste. D) They use too much water. Show Answer Correct Answer: A) They require large amounts of wood for construction. 4. Intially, the industrial development was confined to the stage of: A) Cotton textile mills. B) Jute textile mills. C) Cotton and jute textile mills. D) Capital goods industry. Show Answer Correct Answer: C) Cotton and jute textile mills. 5. WHAT IS SERVICE SECTOR? A) Consist of all activities which do not directly produce tangible goods (productos que se pueden tocar), but help to satisfy people's wants and need. B) Consist only of tangible goods (productos que se pueden tocar). C) Consist of all tangible goods that help to satisfy people's wants and need. D) None of the above. Show Answer Correct Answer: A) Consist of all activities which do not directly produce tangible goods (productos que se pueden tocar), but help to satisfy people's wants and need. 6. Which Ministry is responsible for calculating GDP in India? A) Ministry of Finance. B) Ministry of Commerce and Industry. C) Ministry of Central Statistical and Program Implementation. D) Ministry of consumer Affairs. Show Answer Correct Answer: C) Ministry of Central Statistical and Program Implementation. 7. Name the state of India having the highest density of population and also mention its density. A) West Bengal, 905 persons per sq km. B) Bihar, 1102 persons per sq km. C) UP, 828 persons per sq km. D) NCT of Delhi, 11297 persons per sq km. Show Answer Correct Answer: B) Bihar, 1102 persons per sq km. 8. The full form of MGNREGA?? A) Mahatma Gandhi National rural employment guarantee act. B) Mahatma Gandhi National rural employment gramin act. C) Mahatma Gandhi National rural educational employment guarantee act. D) Mahatma Gandhi National rural entertainment government act. Show Answer Correct Answer: A) Mahatma Gandhi National rural employment guarantee act. 9. Which of the following economic activity is not in the tertiary sector? A) Banking. B) Bee-keeping. C) Teaching. D) Working in a call centre. Show Answer Correct Answer: B) Bee-keeping. 10. Choose the correct option:Assertion(A):The government has taken up initiatives in generating employment opportunities particularly in the rural area. Reason (R):In the last few decades, there has been rapid growth in the gross domestic product, but without simultaneous increase in employment opportunities. A) A and B are true and R explains A. B) A and B are true and R does not explain A. C) A is true but R is false. D) A is false but R is true. Show Answer Correct Answer: A) A and B are true and R explains A. 11. What is the type of Indian economy? A) Socialist. B) Communist. C) Capitalist. D) Mixed. Show Answer Correct Answer: D) Mixed. 12. Economic growth has helped reduce poverty in India.-Say true or false A) True. B) False. C) Both. D) None of the above. Show Answer Correct Answer: A) True. 13. ..... sector generally takes the output of the primary sector and manufactures ..... goods. A) Agriculture, Finished. B) Secondary, semi-finished. C) Tertiary, Raw. D) Industrial, Finished. Show Answer Correct Answer: D) Industrial, Finished. 14. The impact of Climate Change on agricultural yield is more intense in which category of land? A) Non Irrigated. B) Irrigated. C) Open. D) Public. Show Answer Correct Answer: A) Non Irrigated. 15. Why is primary sector caleed primary A) It inccludes primary school. B) It forms the base of other sectors. C) All the above. D) None of the above. Show Answer Correct Answer: B) It forms the base of other sectors. 16. What does GDP stand for in economic terms? A) General Domestic Price. B) Gross National Product. C) Global Development Plan. D) Gross Domestic Product. Show Answer Correct Answer: D) Gross Domestic Product. 17. Which of the following are money market instruments1) Equity 2) Fully and partially convertible debentures 3) Shares Select the correct answer using the code given below. A) Only 1. B) 1 and 2. C) 1 and 3. D) None of them. Show Answer Correct Answer: D) None of them. 18. Primary sector is related to A) Agriculture. B) Dairy, forestry. C) Fishing, mining. D) All the above. Show Answer Correct Answer: D) All the above. 19. The Macro-Economic Vulnerability index includes1) Fiscal Deficit 2) Current Account Deficit 3) Inflation A) Only 1 and 2. B) Only 2 and 3. C) Only 1 and 3. D) All of the above. Show Answer Correct Answer: D) All of the above. 20. Which is the largest producing sector A) Agricultural sector. B) Industrial sector. C) Service sector. D) None of the above. Show Answer Correct Answer: C) Service sector. 21. The major reform in the Indian financial sector after 1991 was the introduction of: A) Nationalization of banks. B) Liberalization and deregulation. C) Social banking scheme. D) Green banking. Show Answer Correct Answer: B) Liberalization and deregulation. 22. ..... opens up new and additional sources of employment to absorb all surplus labour from agriculture. A) Industrialisation. B) Industry. C) Agriculture. D) Cottage industries. Show Answer Correct Answer: B) Industry. 23. What are the primary causes of unemployment in India? A) Economic slowdown, lack of skills, population growth, seasonal employment, structural changes. B) High wages, job security, technological advancements, government policies, urban migration. C) Increased foreign investment, better education, reduced population, automation, labor laws. D) Rural development, improved infrastructure, enhanced healthcare, global trade, environmental factors. Show Answer Correct Answer: A) Economic slowdown, lack of skills, population growth, seasonal employment, structural changes. 24. ..... was engaged in the formulation of five year plans in India. A) RBI. B) Plannig commission. C) All the above. D) None of the above. Show Answer Correct Answer: B) Plannig commission. 25. A Tax whose burden can be shifted to others is termed as ..... A) Direct Tax. B) Indirect Tax. C) Both. D) None of them. 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