Indian Economy – Test Set 9 (Fundamentals of Indian Economy and Planning)

1. The concept of Five Year Plans in India was introduced by
(a) Lord Mountbatten
(b) Jawaharlal Nehru
(c) Indira Gandhi
(d) Lal Bahadur Shastri

Ans: (b)

2. Economic survey is published by :[IAS 1998]
(a) Ministry of Finance
(b) Planning Commission
(c) Govt. of India
(d) Indian Statistical Institute

Ans: (a)

3. Who is called the ‘Father of Economics’ ?
(a) Max Muller
(b) Karl Marx
(c) Adam Smith
(d) None of these

Ans: (c)




4. 70% of working population of India is engaged in:
(a) public sector
(b) primary sector
(c) secondary sector
(d) tertiary sector

Ans: (b)

5. India has: [CDS 1992]
(a) Socialistic economy
(b) Gandhian economy
(c) Mixed economy
(d) Free economy

Ans: (c)

6. India opted for ‘Mixed Economy’ in :
(a) Framing of the Constitution
(b) Second Five Year Plan
(c) Industrial Policy of 1948
(d) None of the above

Ans: (c)

7. Mixed economy means an economy where [CDS 2009]
(a) both agriculture and industry are equally promoted by the state
(b) there is co-existence of public sector along with private sector
(c) there is importance of small scale industries along with heavy industries
(d) economy is controlled by military as well as civilian rulers

Ans: (b)




8. India’s economic planning CANNOT be said to be : [NDA 2002]
(a) indicative
(b) imperative
(c) limited
(d) democratic

Ans: (b)

9. 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

Ans: (c)

10. Which of the following are not correct assessments of the decades of India’s Five-Year
Plans?
1. There has been very low capital formation
2. Growth has favoured the better off
3. Production has increased substantially though often falling short of targets
4. The public sector has contributed nothing to economic growth
(a) 1 and 4
(b) 2 and 3
(c) 1, 2 and 3
(d) 3 and 4

Ans: (a)

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