introduction to indian economy section 1 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Industrial securities market
(b) Market of software technology products
(c) Market of safe securities
(d) Gold and Silver market
The correct answers to the above question in:
Answer: (c)
In the parlance of economy, Gild-edged market is called market of safe securities. “Gildedged” denotes high-grade securities, consequently carrying low yields.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
In India the largest single item of current government expenditure is
a) Interest payment of debt
b) Defence Expenditure
c) Payment of subsidies
d) Investment in social overheads
Answer »Answer: (a)
Interest payments are the single largest item of expenditure. They account for more than 40% of the total non-development expenditure.
These items of expenditure are charged on the Consolidated Fund of India and are not required to be voted by the Lok Sabha.
Question : 2
Indian Special Economic Rules amendment came in the year
a) 2002
b) 2000
c) 2004
d) 2006
Answer »Answer: (d)
The Special Economic Zones Rules are associated with the year 2006, though the policy was announced in 2000. The Special Economic Zones Rules, 2006 came into effect on 10 February 2006.
The amendment Rules provided for the simplification of procedures for development, operation, and maintenance of the Special Economic Zones and for setting up and conducting business in SEZ.
Question : 3
Antyodaya Programme is associated with
a) Bringing up cultural revolution in India
b) Liberation of bonded labour
c) Demands of textile labourers
d) Upliftment of the poorest of the poor
Answer »Answer: (d)
Antyodaya Anna Yojana (AAY) is a centrally sponsored scheme launched on December 2000 for one crore of the poorest families. It is on the lookout for the ‘poorest of the poor’ by providing them 35 kilos of rice and wheat at Rs.2 per kg.
Question : 4
The credit control operation in India is performed by
a) Commercial banks
b) Rural banks
c) Reserve Bank of India
d) State Bank of India
Answer »Answer: (c)
Credit control is the most important function of the Reserve Bank of India. By using credit control methods RBI tries to maintain monetary stability.
There are two types of methods:
- Quantitative control to regulate the volume of total credit; and
- Qualitative Control to regulate the flow of credit.
Question : 5
The term ‘Mixed Economy’ denotes
a) existence of both private and public sectors
b) existence of both rural and urban sectors
c) existence of both heavy and small industries
d) existence of both developed and underdeveloped sectors
Answer »Answer: (a)
A mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
The basic idea of the mixed economy is that the means of production are mainly under private ownership; that markets remain the dominant form of economic coordination; and that profit-seeking enterprises and the accumulation of capital remain the fundamental driving force behind economic activity.
However, unlike a free-market economy, the government would wield considerable indirect influence over the economy through fiscal and monetary policies.
Question : 6
The main difference between Gross Domestic Product (GDP) and Gross National Product (GNP is
a) Net foreign income from abroad
b) Transfer payments
c) Capital consumption allowance
d) Capital gains
Answer »Answer: (a)
Gross Domestic Product (GDP) is a measure of the total value of the goods and services produced in a country during one year, excluding income from investment abroad by residents of the country. It is the Gross National Product less net income from property or investment abroad.
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
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introduction to indian economy section 8
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introduction to indian economy section 10
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introduction to indian economy section 12
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introduction to indian economy section 14
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