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) 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
The correct answers to the above question in:
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.
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Read more industries manufacturing service sectors Based Indian Economy Questions and Answers
Question : 1
What is the approximate share of SSIs in gross industrial value added in the Indian economy?
a) 5%
b) 25%
c) 30%
d) 40%
Answer »Answer: (d)
The small-scale industries sector plays a vital role in the growth of the country. It contributes almost 40% of the gross industrial value added in the Indian economy.
Question : 2
Which statement is correct regarding the cotton industry?
- The first Indian modernised cotton mill, located in Kolkata in 1818
- The second mill named ‘Bombay Spinning and Weaving Co.’ was established in 1854 at Bombay by KGN Daber
- There were 394 cotton mills in India before the partition
a) Only II
b) II & III
c) I & II
d) All the above
Answer »Answer: (d)
Question : 3
The SEZ Act 2005 which came into effect in February 2006 has certain objectives? In this context consider the following :
- Development of infrastructure facilities
- Promotion of investment from foreign sources.
- Promotion of export of services only.
a) 2 only
b) 2 and 3
c) 1 and 2
d) 1, 2 and 3
Answer »Answer: (c)
The main objectives of the SEZ Acts 2005, is to develop infrastructure facilities and to promote investment from foreign sources.
Question : 4
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 : 5
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 : 6
What is the major contribution of the Electronics industry to the country?
a) Improved standard of living
b) Maximised wealth formation
c) Encouraged employment
d) Reduced poverty
Answer »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.
GET Industries, Manufacturing & Service Sectors PRACTICE TEST EXERCISES
industries manufacturing & service sectors section 1
industries manufacturing & service sectors section 2
industries manufacturing & service sectors section 3
industries manufacturing & service sectors section 4
industries manufacturing & service sectors section 5
industries manufacturing & service sectors section 6
industries manufacturing & service sectors section 7
industries manufacturing & service sectors section 8
industries manufacturing & service sectors section 9
industries manufacturing & service sectors section 10
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