introduction to indian economy section 7 MCQ Questions & Answers Detailed Explanation

Answer: (c)

Market-based mostly economic climate refers back to the financial system the place all financial judgements are taken based mostly on the demand and provide circumstances prevailing out there.

Government has minimal interference in financial actions. Private gamers are free to supply the items and expertise based mostly on the demand and provides alerts out there.

Answer: (c)

Providing Urban Amenities to Rural Areas (PURA ) is a strategy for rural development. The concept was given by former President Dr. APJ Abdul Kalam.

Answer: (a)

Credit Control is an important tool used by the Reserve Bank of India, a major weapon of the monetary policy used to control the demand and supply of money (liquidity) in the economy. Central Bank administers control over the credit that the commercial banks grant.

Such a method is used by RBI to bring “Economic Development with Stability”. It means that banks will not only control inflationary trends in the economy but also boost economic growth which would ultimately lead to an increase in real national income with stability.

Answer: (d)

The National Sample Survey Office(NSSO) in India is a unique setup to carry out surveys on socioeconomic, demographic, agricultural and industrial subjects for collecting data from households and from enterprises located in villages and in the towns.

The unregistered manufacturing sub-sector, a complement set to the registered manufacturing sub-sector, covers all the residual units which are not covered under the registered manufacturing sector.

Thus, the unregistered manufacturing sector covers all the manufacturing, processing, repair & maintenance services units employing less than 10 workers and using power or less than 20 workers and not using power. The data on the unorganised sector is collected through periodic surveys by the NSSO.

Answer: (b)

Social accounting is a method by which a firm seeks to place a value on the impact on society of its operations. It is a systematic analysis of the effects of the organisation on its shareholders, with stakeholder input as part of the data that are analysed for the accounting statement.

One social accounting system primarily attempts to measure National Income, final product, consumption and accumulation of capital.

Answer: (a)

The responsibility for coinage lies with central government on the basis of the Coinage Act, 1906. The designing and minting of coins in various denominations is decided by Central government.