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

Question : 1

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 : 2

Consider the following liquid assets:

1. Demand deposits with the banks
2. Time deposits with the banks
3. Saving deposits with the banks
4. Currency

a) 2-3-1-4

b) 4-3-2-1

c) 1-4-3-2

d) 4-1-3-2

Question : 3

The Indian Aviation Report 2014 highlights which one of the following as the main reason for non-competitiveness of Indian aviation sector?

1. Lack of infrastructure
2. Lack of skill and expertise
3. Privatisation
4. Over taxation

a) 4 only

b) 1, 2, 3 and 4

c) 1 and 2

d) 1, 2 and 3

Question : 4

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 : 5

Who among the following is appointed as the President of ASSOCHAM.

a) Rana Kapoor

b) R. Shiv Kumar

c) Sandeep Jajodia

d) Sunil Kanoria

Question : 6

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