industries manufacturing & service sectors section 1 MCQ Questions & Answers Detailed Explanation

Question : 1

Which statement is correct regarding energy?

1. 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.
2. 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

Question : 2

Container Corporation of India Limited (CONCOR), a public sector undertaking is under the administration control of which of the following ministries?

a) Small scale

b) Ministry of Railways

c) Heavy Industry

d) Shipping Road Transport and Highways

Question : 3

Which among the below statements are correct regarding the Features of Industrial Policy 1991?

1. To maintain sustained growth in productivity.
2. To enhance gainful employment.
3. Liberalisation of Industrial Licensing Policy.
4. Introduction of Industrial Entrepreneur’s Memorandum (i.e., no industrial approval is required for industries not requiring compulsory licensing).

a) Only IV

b) I & III

c) I & II

d) All the above

Question : 4

With reference to India, consider the following central acts:

1. Import and Export (control) Act 1947
2. Mining and Mineral Development (Regulation) Act 1957
3. Custom Act 1962
4. Indian Forest Act 1927

a) 2 and 3

b) 1, 2, 3 and 4

c) 1 and 3

d) None of these

Question : 5

When was the ‘Policy Package for Setting up Credit to Small and Medium Enterprises’ announced?

a) March 2009

b) August 2005

c) November 2010

d) February 2007

Question : 6

GCIL—an American company of chemical sector has been acquired by—

a) Birla group

b) Reliance group

c) Tata group

d) Shriram group