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) New York
(b) Geneva
(c) Washington D.C.
(d) Rome
The correct answers to the above question in:
Answer: (c)
The World Bank was created at the 1944 Bretton Woods Conference, along with three other institutions, including the International Monetary Fund (IMF).
World Bank provides loans to developing countries for capital programs. The headquarter of the World Bank is located in Washington D.C.
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Question : 1
An increase in the Bank Rate generally indicates that the
a) Central Bank is no longer making loans to commercial banks
b) Central Bank is following a tight money policy
c) market rate of interest is likely to fall
d) Central Bank is following an easy money policy
Answer »Answer: (b)
A tight monetary policy is a course of action undertaken by Central bank to constrict spending in an economy, or to curb inflation when it is rising too fast.
The increased bank rate increases the cost of borrowing and effectively reduces its attractiveness.
Question : 2
Arrange in decreasing order the percentage share in power generation capacity:
a) Private > Central > States
b) Private > States > Central
c) Central > Private > States
d) Central > States Private
Answer »Answer: (b)
Following the power generation capacity as on October 2019:
Private = 46.5%
States = 28.4%
Central = 25.1%
Question : 3
Correlate the following;
List I | List II |
(Industry) | (Field) |
A. Basic industry | 1. Fertilizer |
B. Strategic industry | 2. Petroleum |
C. Critical industry | 3. Automobile |
D. Goods based industry | 4. Arms and Ammunition |
a) 1 4 2 3
b) 4 2 3 1
c) 4 1 2 3
d) 2 4 3 1
Answer »Answer: (d)
The correct correlation of industries and their fields are :
- Basic industry — petroleum
- Strategic industry — Arms and Ammunition
- Critical industry — Automobile
- Goods based industry — Fertilizer
Question : 4
Which ministry/department grants "Infrastructure Status" to the various sectors:
a) Department of Economic Affairs, Ministry of Finance
b) Reserve Bank of India (RBI)
c) Department of Financial Services, Ministry of Finance
d) None of the above
Answer »Answer: (a)
"Department of Economic Affairs", Ministry of Finance grants "Infrastructure Status" to the various sectors.
Question : 5
Which one of the following is not correct in the context of industrial clusters development in India?
a) Industrial cluster programmes in India are administered by various ministries
b) Industrial clusters play an important role for the MSME participants in their inclusiveness, technology absorption and efficiency improvement
c) Industrial clusters are visible in traditional handloom, handicrafts and modern SME
d) Industrial clusters lead to promotion of monopoly in the market
Answer »Answer: (d)
Industrial clusters development has an objective to support the sustainability and growth of small and medium enterprises in India.
This scheme is governed and administered by the Ministry of micro, small and medium enterprises.
Question : 6
The sales tax you pay while purchasing a toothpaste is a
a) tax imposed by the Central Government but collected by the State Government
b) tax imposed and collected by the State Government
c) tax imposed by the Central Government
d) tax imposed by the State Government but collected by the Central Government
Answer »Answer: (b)
Taxes on tooth paste come under GST which is administered by State government.Sales tax is paid to sales tax authority in the state from where the goods are moved.
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