industries manufacturing & service sectors section 7 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
(a) Improved standard of living
(b) Maximised wealth formation
(c) Encouraged employment
(d) Reduced poverty
The correct answers to the above question in:
Answer: (c)
the Electronic industry is responsible for the generation of employment. Bangalore is the hub of the electronic industry in the country and is called the electronic city.
There are approximately 200 IT/ ITES companies located in Electronics City which have employed many unemployed in various fields.
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Question : 1
In India the public sector is the most dominant in
a) organized term-ending financial institution
b) commercial banking
c) steel production
d) transport
Answer »Answer: (d)
Question : 2
Which statement is correct regarding information technology?
- The IT industry is the biggest private-sector employer in India, and it added 230,000 employees in 2014-15, thus making the total number of jobs in the industry close to 3.5 million.
- The IT sector also accounted for 9.5% of the gross domestic product. The IT industry holds the largest share of total services exports at 38%.
a) Both I & II
b) Only II
c) Only I
d) None of these
Answer »Answer: (a)
The IT industry is the biggest private-sector employer in India, and it added 230,000 employees in 2014-15, thus making the total number of jobs in the industry close to 3.5 million.
The IT sector also accounted for 9.5% of the gross domestic product. The IT industry holds the largest share of total services exports at 38%.
Question : 3
What do you understand by the term “Circular Economy” often seen in news?
a) It refers to an industrial system that is restorative or regenerative in nature
b) It refers to a “Closed Economy” that primarily relies on internal trade
c) It refers to the cyclical booms and recession in an economy
d) It refers to a system in which there is Cyclical correlation between savings and investment
Answer »Answer: (a)
A circular economy is an industrial system that is restorative or regenerative by intention and design.
It replaces the end-of-life concept with
- restoration,
- shifts towards the use of renewable energy,
- eliminates the use of toxic chemicals,
- which impair reuse and return to the biosphere, and
- aims for the elimination of waste through the superior design of materials, products, systems and business models.
Question : 4
Consider the following statements about the Competition Commission of India.
- Competition Commission of India (CCI) was established with effect from 14th October 2003.
- The goal is to combat the monopoly tendencies and faster the competition among public sector enterprises.
- CCI (Competition Commission of India) consists of a chairperson and 6 members appointed by the central government.
a) 2 only
b) 1 and 2
c) 1 only
d) All of the above
Answer »Answer: (d)
Competition Commission of India is a body of the government of India responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India. It was established on 14 October, 2003.
The goal is to combat the monopoly tendencies and faster the competition among public sector enterprises. CCI (Competition Commission of India) consists of a chairperson and 6 members appointed by the central government.
Question : 5
Kuwait’s biggest Mobile Telecommunication Company known as Zain has been bought by—
a) Vodafone
b) Bharti Airtel
c) Aircel
d) Reliance Communication
Answer »Answer: (b)
Bharti Airtel has acquired Zain Telecom’s African assets in a $10.7 billion deal. The acquisition of Zain assets will give the Indian mobile market leader a footprint in 15 African countries.
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