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
- 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
The correct answers to the above question in:
Answer: (c)
The main objectives of the SEZ Acts 2005, is to develop infrastructure facilities and to promote investment from foreign sources.
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Read more industries manufacturing service sectors Based Indian Economy Questions and Answers
Question : 1
Identify the correct sequence of the establishment of steel plant in India from the earliest to the latest.
a) Jamshedpur–Bhilai, Bokaro–Vishakhapatnam
b) Bhilai, Jamshedpur, Vishakhapatnam, Bokaro
c) Bokaro–Jamshedpur, Vishakhapatnam, Bhilai
d) Jamshedpur, Bokaro, Bhilai, Vishakhapatnam
Answer »Answer: (a)
TISCO was founded in 1907 by Dorabji Tata. The Bhilai Steel Plant, located in Bhilai, in the Indian state of Chhattisgarh, was set up with the help of the USSR in 1955. Bokaro Steel Plant is located in the Bokaro district of Jharkhand.
It is the fourth integrated public sector steel plant in India built with Soviet help in 1972. Visakhapatnam Steel Plant, popularly known as Vizag Steel, is the most advanced steel producer in India with the help of German and soviet technology founded in 1974.
Question : 2
Which statement is correct regarding FERA 1973?
- The Foreign Exchange and Regulation Act (FERA) was passed in 1980.
- This resulted in a tremendous shift in the foreign investment policy of the Government of India.
- Foreign Investment was allowed in only those industries that were directly into exports.
a) II & III
b) Only III
c) I & II
d) All the above
Answer »Answer: (a)
The Foreign Exchange and Regulation Act (FERA) was passed in 1973. This resulted in a tremendous shift in the foreign investment policy of the Government of India.
Foreign Investment was allowed in only those industries that were directly into exports.
Question : 3
Mobile commerce service M Pesa is an initiative of whom among the following?
- Vodafone India
- ICICI Bank
- Airtel
- HDFC
a) 3 and 4
b) 1, 2 and 4
c) 1 and 2
d) 2 and 3
Answer »Answer: (c)
M-Pesa is a mobile money transfer and payment service that is a joint initiative of Vodafone and ICICI that allows customers to transfer money to any mobile phone, remit money to any bank account, make utility payments, recharge of mobile, DTH payment and earn interest on deposits.
Question : 4
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 : 5
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 : 6
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.
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industries manufacturing & service sectors section 2
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industries manufacturing & service sectors section 5
industries manufacturing & service sectors section 6
industries manufacturing & service sectors section 7
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industries manufacturing & service sectors section 10
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