industries manufacturing & service sectors section 10 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
(a) Internal governance should be decided by mutual agreement among partners
(b) Partner should be less than 20
(c) Partner and management need not to be separate
(d) It is a corporate body with perpetual succession
The correct answers to the above question in:
Answer: (c)
The LLP will be a separate legal entity, liable to the full extent of its assets, with the liability of the partners being limited to their agreed contribution in the LLP which may be of tangible or intangible nature or both tangible and intangible in nature. No partner would be liable on account of the independent or unauthorised actions of other partners or their misconduct.
The liabilities of the LLP and partners who are found to have acted with intent to defraud creditors or for any fraudulent purpose shall be unlimited for all or any of the debts or other liabilities of the LLP.
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Question : 1
Which one of the following is correctly matched based on Industries clusters and Location?
a) Surat - Gems & Jewellery
b) Textiles - Tirupur
c) Marble - Kishangarh
d) All of the above
Answer »Answer: (d)
All the above industrial clusters and the related locations are correctly matched. Tirupur is famous for textiles, Kishangarh is famous for marbles, Surat is famous for Gems and Jewellery.
Question : 2
Consider the following statements :
- The erratic trend in the production of sugar is mainly due to monsoons.
- The output of sugar is influenced by both cane and Gur prices.
a) Both 1 and 2
b) 1 only
c) 2 only
d) Neither 1 nor 2
Answer »Answer: (a)
The erratic trend in production of sugar is mainly due to monsoons and the output of sugar is influenced by both cane and gur prizes.
Question : 3
Which one of the following is not the problem of Small Scale Industries (SSIs)?
a) Raw materials
b) Finances
c) Marketing
d) Strikes and lockouts
Answer »Answer: (d)
Major problems faced by the small scale industries are:
- Finance,
- Raw Material,
- Idle Capacity,
- Technology,
- Marketing,
- Infrastructure,
- Under Utilization of Capacity and
- Project Planning.
Strike and lockouts is not a problem of SSIs.
Question : 4
The term ‘Rent seeking’ refers to which of the following?
a) Excessive rent collected by the owners because of rise in demand
b) Higher prices collected by business entities by forming cartels
c) Practise of manipulating public policy as a strategy to increase profits
d) Manipulating profits by inflating costs
Answer »Answer: (c)
Rent-seeking means engaging in or involving in the manipulation of public policy or economic conditions as a strategy for increasing profits.
For example, lobbying for government contracts by changing the terms and conditions of the bidding contract.
Question : 5
Which sentences are correct regarding export in India?
- 45%-50% of the Indian Exports is contributed by SSI Sector.
- Direct exports from the SSI Sector account for nearly 45% of total exports.
- Besides direct exports, it is estimated that smallscale industrial units contribute around 15% to exports indirectly.
a) Only II
b) I & III
c) I & II
d) All the above
Answer »Answer: (b)
45%-50% of the Indian Exports is contributed by SSI Sector. Direct exports from the SSI Sector account for nearly 35% of total exports.
Besides direct exports, it is estimated that small-scale industrial units contribute around 15% to exports indirectly.
Question : 6
The term "roll-on roll-off" recently in the news is related to which of the following:
a) Transportation of vehicles through ships
b) Railway engines and wagons
c) Connecting two ports through dedicated shipping channel
d) Dedicated freight corridors
Answer »Answer: (a)
Roll-on roll-off (ro-ro is an acronym for roll-on roll-off) ships are vessels designed to carry wheeled cargo such as cars, trucks, trailers that are driven on and off the ship on their own wheels or using a platform vehicle.
(Earlier wheeled vehicles were carried as cargo on oceangoing ships and were treated like any other cargo. Automobiles had their fuel tank emptied and their batteries disconnected before being hoisted onto the ship which was a difficult and tedious process and vehicles were subject to damage and could not be used for routine/daily travel.)
On 23rd Oct 2017, Prime Minister inaugurated the first phase of the roll-on roll-off ferry service (for conveying passenger and goods both) connecting Saurashtra with South Gujarat.
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industries manufacturing & service sectors section 2
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industries manufacturing & service sectors section 10
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