industries manufacturing & service sectors section 7 MCQ Questions & Answers Detailed Explanation

Question : 1

In the context of the present ceiling on investment for categorization of various enterprises as Micro, Small and Medium Manufacturing Enterprises (MSMEs), which of the following statements are correct:

1. A microenterprise is an enterprise where the investment in equipment does not exceed Rs. 25 lakh.
2. A small enterprise is an enterprise where the investment in equipment is more than Rs. 25 lakh but does not exceed Rs. 5 crores.
3. A medium enterprise is an enterprise where the investment in equipment is more than Rs. 5 crore but does not exceed Rs. 10 crore.

a) Only 3

b) Only 2

c) Only 1

d) All of them

Question : 2

Match the following products with their percentage part that was controlled by the foreigners at the time of independence:

a) I – c, II – b, III – a, IV - d

b) I – b, II – d, III – a, IV - c

c) I – c, II – d, III – a, IV – b

d) I – a, II – d, III – c, IV - b

Question : 3

Who is the chairman of 14th Finance Commission of India?

a) C. Rangarajan

b) Vijay Kelkar

c) Kaushik Basu

d) Y.V. Reddy

Question : 4

Mobile commerce service M Pesa is an initiative of whom among the following?

1. Vodafone India
2. ICICI Bank
3. Airtel
4. HDFC

a) 3 and 4

b) 1, 2 and 4

c) 1 and 2

d) 2 and 3

Question : 5

Which statement is correct regarding FERA 1973?

1. The Foreign Exchange and Regulation Act (FERA) was passed in 1980.
2. This resulted in a tremendous shift in the foreign investment policy of the Government of India.
3. 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

Question : 6

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