introduction to indian economy section 3 MCQ Questions & Answers Detailed Explanation

MOST IMPORTANT indian economy mcq - 14 EXERCISES

Top 30,000+ Indian Economy Memory Based Exercises

The following question based on Introduction to Indian Economy topic of indian economy mcq

Questions : Consider the following statements and select the correct code :
  1. Most of the governments run unbalanced budgets.
  2. In a balanced budget there could be budget surplus but no budget deficit.
Code :

(a) Only 2

(b) Both 1 and 2

(c) Only 1

(d) Neither 1 nor 2

The correct answers to the above question in:

Answer: (c)

When the total expenditures of a government is equal to the taxes and other receipts it is a balanced budget. All budgets with either deficits or surpluses are unbalanced.

Read more questions on introduction of quiz set 3 Click Here »

Practice Introduction to Indian Economy (introduction to indian economy section 3) Online Quiz

Discuss Form

Valid first name is required.
Please enter a valid email address.
Your genuine comment will be useful for all users! Each and every comment will be uploaded to the question after approval.

Read more introduction Based Indian Economy Questions and Answers

Question : 1

Which car has been the best seller in India in 2004-2005 ?

a) Maruti Suzuki Alto

b) Maruti 800

c) Tata Indica

d) Santro Xing

Answer: (a)

After beating the Maruti 800 over the second half of 2004, the Maruti Alto officially took the title of the bestselling car in India over the Full Year 2005.

Below the Alto at 102,970 units, the Hyundai Santro (aka Atos), built-in India, took the 2nd spot over the period at 73,822 sales and the Tata Indica was 3rd with 70,267 sales.

Question : 2

Which of the following will not be the part of ‘financial inclusion’?

  1. Opening educational centres.
  2. Opening wealth management centres by Citibank.
  3. Eradication of poverty.
  4. Report of Khan Commission on financial inclusion.
Select the correct answer using the codes given below:

a) 1, 3 and 4

b) 1, 2 and 4

c) 1, 2 and 3

d) 1, 2, 3 and 4

Answer: (b)

Financial inclusion is the delivery of financial services, at affordable costs, to sections of disadvantaged and low-income segments of society.

It includes opening educational centres, opening wealth management centres by Citibank, etc. Khan Commission had put the report on financial inclusion.

Question : 3

Which of the following can be called as a part of the service sector?

a) Banking

b) Agricultural

c) Coal mines

d) Textile mills

Answer: (a)

The tertiary sector of the economy (also known as the service sector) is one of the three economic sectors. The service sector consists of activities where people offer their knowledge and time to improve productivity.

Examples of tertiary industries may include the following:

  1. telecommunication,
  2. hospitality industry/tourism,
  3. mass media,
  4. healthcare/hospitals,
  5. information technology,
  6. banking,
  7. insurance,
  8. investment management,
  9. accountancy,
  10. legal services,
  11. consulting,
  12. retail sales,
  13. real estate,
  14. education.

Question : 4

The Gandhian economy is based on the principle of

a) Trusteeship

b) State control

c) Competition

d) None of the above

Answer: (a)

Question : 5

The Indian Economy is a

a) Socialist economy

b) Mixed economy

c) Liberal economy

d) None of the above

Answer: (b)

Question : 6

Consider the following statements:

  1. The Fifth Economic Census was conducted by CSO in the year 2007.
  2. Intelligent Character Recognition (ICR) technology is being used for detailed processing of the data collected in the Fifth Economic Census.
Which of the statements given above is/are correct?

a) 2 only

b) Neither 1 nor 2

c) Both 1 and 2

d) 1 only

Answer: (a)

Need More Mcqs on Introduction to Indian Economy of introduction to indian economy section 3 Click Here »
GET Introduction to Indian Economy PRACTICE TEST EXERCISES

introduction to indian economy section 1

introduction to indian economy section 2

introduction to indian economy section 3

introduction to indian economy section 4

introduction to indian economy section 5

introduction to indian economy section 6

introduction to indian economy section 7

introduction to indian economy section 8

introduction to indian economy section 9

introduction to indian economy section 10

introduction to indian economy section 11

introduction to indian economy section 12

introduction to indian economy section 13

introduction to indian economy section 14
Introduction to Indian Economy Shortcuts and Techniques with Examples
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz

Recently Added Subject & Categories For All Competitive Exams

Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024

Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam

17-May-2024 by Careericons

Continue Reading »

Syllogism Practice Questions Answers PDF - IBPS Clerk 2024

Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam

16-May-2024 by Careericons

Continue Reading »

IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers

Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download

14-May-2024 by Careericons

Continue Reading »

New Cloze Test Questions and Answers PDF - IBPS Clerk 2024

The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF

13-May-2024 by Careericons

Continue Reading »