industries manufacturing & service sectors section 1 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
(a) March 2009
(b) August 2005
(c) November 2010
(d) February 2007
The correct answers to the above question in:
Answer: (b)
On August 10, 2005, a ‘Policy Package for Setting up Credit to Small and Medium Enterprises’ was announced with the objective to double the credit flow to the sector within a period of five years.
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Question : 1
With reference to India, consider the following central acts:
- Import and Export (control) Act 1947
- Mining and Mineral Development (Regulation) Act 1957
- Custom Act 1962
- Indian Forest Act 1927
a) 2 and 3
b) 1, 2, 3 and 4
c) 1 and 3
d) None of these
Answer »Answer: (b)
Import and Export (control) Act 1947 restricts the import and export of endangered species and their by-products.
Mining and Mineral Development (Regulation) Act 1957 restricts mining in protected areas. Custom Act 1962 again links to import and export.
Indian Forest Act 1927 restricts construction and encroachment in restricted and protected areas.
Question : 2
Who among the following is appointed as the President of ASSOCHAM.
a) Rana Kapoor
b) R. Shiv Kumar
c) Sandeep Jajodia
d) Sunil Kanoria
Answer »Answer: (d)
ASSOCHAM Head Quarter - New Delhi,
President - Sunil Kanoria R. Shivakumar has been appointed as the chairman of ASSOCHAM.
Chanda Kochar - MD & CEO of ICICI Bank.
Question : 3
Which statement is correct regarding energy?
- Coal was the most important source of energy during the Industrial Revolution. In the 20th century, it was replaced by oil, which was an even cheaper source.
- When the oil-producing countries formed a cartel (OPEC) and increased the price of crude oil from USD2.1 per barrel in 1973 to as much as $28 per barrel in 1980, it hit developing countries like India the most.
a) I & II
b) Only II
c) Only I
d) None of these
Answer »Answer: (a)
Coal was the most important source of energy during the Industrial Revolution.
In the 20th century, it was replaced by oil, which was an even cheaper source. When the oil-producing countries formed a cartel (OPEC) and increased the price of crude oil from USD2.1 per barrel in 1973 to as much as $28 per barrel in 1980, it hit developing countries like India the most.
Question : 4
GCIL—an American company of chemical sector has been acquired by—
a) Birla group
b) Reliance group
c) Tata group
d) Shriram group
Answer »Answer: (c)
GCIL—an American company of chemical sector has been acquired by Tata Group.
Question : 5
Which statement is correct regarding village industries?
- The industries established in rural areas having population below 10,000 and having less than ` 15,000 as fixed capital investment per worker will be termed as village industries.
- KVIC and state village Industries Board provide economic and technical assistance in establishing and operating these industrial units.
a) Only II
b) Only I
c) I & II
d) None of the above
Answer »Answer: (c)
The industries established in rural areas having populations below 10,000 and having less than Rs. 15,000 as fixed capital investment per worker will be termed as village industries.
KVIC and state village Industries Board provide economic and technical assistance in establishing and operating these industrial units.
Question : 6
As the economy develops, the share of the tertiary sector in the GDP:
a) Increases
b) Decreases
c) Decreases then increases
d) Remains constant
Answer »Answer: (a)
As the economy develops, the share of the tertiary sector in the GDP increases. As economy develops people develop more skills and knowledge which they offer as services.
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industries manufacturing & service sectors section 1
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industries manufacturing & service sectors section 10
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