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 microenterprise is an enterprise where the investment in equipment does not exceed Rs. 25 lakh.
- A small enterprise is an enterprise where the investment in equipment is more than Rs. 25 lakh but does not exceed Rs. 5 crores.
- 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
The correct answers to the above question in:
Answer: (d)
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Read more industries manufacturing service sectors Based Indian Economy Questions and Answers
Question : 1
Match the following products with their percentage part that was controlled by the foreigners at the time of independence:
List I | List II |
(Product) | (Percentage) |
I. Tea | a. 70% |
II. Jute | b. 73% |
III. Coal | c. 65% |
IV. Minerals | d. 90% |
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
Answer »Answer: (c)
Question : 2
Who is the chairman of 14th Finance Commission of India?
a) C. Rangarajan
b) Vijay Kelkar
c) Kaushik Basu
d) Y.V. Reddy
Answer »Answer: (d)
Y.V. Reddy is the chairman of the 14th Finance Commission of India. The Finance Commission of India came into existence in 1951.
It was established under Article 280 of the Indian Constitution by the President of India.
It was formed to define the financial relations between the centre and the state Dr Yaga Venugopal Reddy is an Indian Administrative Service (IAS) officer of the 1964 batch who served as Governor of the Reserve Bank of India (RBI).
Question : 3
Consider the following statements :
- India has attained self-sufficiency in almost all consumer goods.
- In terms of capital goods, India still depends on the import.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
In terms of capital goods, India still depends on the import has not attained self sufficiency in almost all consumer goods.
Question : 4
Consider the following statements regarding multi-brand FDI in retail:
- 51% FDI is allowed in inventory-based model of e-commerce
- 51% FDI is allowed in brick and mortar model
- 100% FDI is allowed in all models for food products sourced from Indian farmers or manufactured in India
a) (ii) only
b) (ii) & (iii) only
c) (iii) only
d) All of the above
Answer »Answer: (b)
But, 100% FDI is allowed in all models of retail for food products sourced from Indian farmers or processed/manufactured in India. This has been allowed thinking about the farmers in India.
Question : 5
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 : 6
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.
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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