Nature of Indian Economy Questions and answers

  1. General Knowledge
    1. Culture
    2. Economy
      1. Nature of Indian Economy
      2. Poverty and Unemployment
      3. Currency Inflation
      4. Banking System
      5. Fiscal System
      6. Industries and Infrastructure
      7. International Organisations
    3. General
    4. Geography
    5. History
    6. Indian Polity
    7. Politics
    8. Sports
1). Who is called the 'Father of Economics'?
A). Max Muller
B). Karl Marx
C). Adam Smith
D). None of these
2). The concept of Five Year Plans in India was introduced by
A). Lord Mountbatten
B). Jawaharlal Nehru
C). Indira Gandhi
D). Lal Bahadur Shastri
3). India has :
A). Socialistic economy
B). Gandhian economy
C). Mixed economy
D). Free economy
4). India opted for 'Mixed Economy' in :
A). Framing of the Constitution
B). Second Five Year Plan
C). Industrial Policy of 1948
D). none of these
5). Mixed Economy' means :
A). co-existence of small scale and large scale industries
B). co-existence of the rich and the poor
C). co-existence of the private and public sector
D). assigning equal importance to both agriculture and heavy industries

6). India's economic planning CANNOT be said to be :
A). indicative
B). imperative
C). limited
D). democratic
7). Which of the following could be said to have prevented the 'trickle down' effects in Indian economy?
1. Increased dependence of agriculture on purchased inputs and privately managed irrigation.
2. More employment of labour by larger landholding farmers
3. Lowered participation of women in agricultural workforce due to new technology
4. The failure of the Green Revolution

A). 1 and 2
B). 2 and 3
C). 1 and 3
D). 2 and 4
8). Which of the following is the task of the Planning Commission?
A). Preparation of the plan
B). Implementation of the plan
C). Financing of the plan
D). Both (a) and (b)
9). Who wrote the book 'Planned Economy for India'?
A). M. Visvesvaraya
B). Sardar Vallabhbhai Patel
C). Jawaharlal Nehru
D). Mahatma Gandhi
10). Globalisation of Indian Economy' means :
A). stepping up external borrowings
B). establishing Indian business units abroad
C). having minimum possible restriction on economic relations with other countries
D). giving up programmes of import substitution
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