introduction to indian economy section 11 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 14 EXERCISES
-
Top 500+ Basic Indian Economy GK MCQ Quiz For SSC IBPS »
-
New Indian Economy GK MCQ Quiz PDF For UPSC/IAS Prelims »
-
Basic Indian Economy Concepts MCQs Quiz For RRB NTPC Exam »
-
New 499+ Fundamentals of Indian Economy MCQ Quiz For IBPS »
-
555+ Indian Economy Concepts Basics Fundamentals MCQ Quiz »
-
Top 500+ Indian Economy GK MCQs Quiz PDF For SSC UPSC RRB »
-
New 499+ Indian Economy GK Question And Answers Quiz PDF »
-
Best 500+ Indian Economy General Knowledge MCQ Quiz PDF »
-
500+ Indian Economy General Studies Online MCQ Quiz PDF »
-
New 500+ Indian Economy Basic Static GK MCQ Quiz For IBPS »
-
500+ Introduction to Indian Economy GK MCQ Quiz For SSC »
-
800+ Latest Indian Economy GK Questions & Answers MCQ PDF »
-
1000+ Indian Economy GK Questions And Answers Quiz PDF »
-
1000+ Indian Economy Basic Concepts GK MCQ PDF For SBI PO »
The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) 1 crore
(b) 45 lakhs
(c) 60 lakhs
(d) 35 lakhs
The correct answers to the above question in:
Answer: (a)
The upper limit of investment in plant and machinery for small-scale industries has been fixed at Rs. one crore.
Discuss Form
Read more introduction Based Indian Economy Questions and Answers
Question : 1
The official agency responsible for estimating National Income in India is
a) Reserve Bank of India
b) Indian Statistical Institute
c) Central Statistical Organisation
d) National Council for Applied Economics and Research
Answer »Answer: (c)
At the national level, the Central Statistical Organisation (CSO) is the apex statistical body with the primary objective of providing technical leadership in building up the statistical system in the country.
It has been charged with the responsibility of coordinating activities in the country, laying down and maintenance standards relating to concepts, definitions, methodologies, procedures etc, providing consultancy and advisory services to other statistical agencies, computing of national income, keeping liaison with the international statistical agencies, preparing and publishing national accounts statistics, processing, analysing and publication of industrial statistics, the conduct of economic censuses, etc.
Question : 2
Which among the following has the least possibility of globalisation ?
a) increase in infrastructure
b) location of capital works
c) to manage resources for investment
d) selection of labour force
Answer »Answer: (b)
Globalization can affect the labour market by increasing the capacity of developing countries to create new opportunities for work and production following the alleviation of price distortions with respect to both labour and capital. Globalization on business management is the interconnection of international markets and managing businesses in a global industry.
This includes the management of resources for foreign investments whereby a company expands its business and invests in foreign countries. Globalization means inter-linkage among the countries of the globe. This can only happen when infrastructure is in proper shape.
A well-developed infrastructure is an indispensable condition for faster globalization.
Question : 3
The theory of economic drain of India during British period was propounded by
a) Jawaharlal Nehru
b) R. C. Dutta
c) Dadabhai Naoroji
d) M. K. Gandhi
Answer »Answer: (c)
Dadabhai Naroji propounded the drain theory. The drain, he declared, was the basic cause of India’s poverty and a fundamental evil of British rule in India. Thus, he argued in 1880 that it is not pitiless operations of economic laws but it is the thoughtless hand, pitiless actions of the British policy.
Question : 4
What type of products, does CACP recommend minimum support price for ?
a) None of the above
b) Agricultural products
c) Pharmaceutical products
d) Industrial products
Answer »Answer: (b)
The Agricultural Prices Commission was set up in January 1965 to advise the Government on the price policy of major agricultural commodities. Since March 1985, the Commission has been known as Commission for Agricultural Costs and Prices (CACP).
The minimum support prices (MSP) for major agricultural products are fixed by the government, each year, after taking into account the recommendations of CACP.
Question : 5
Expand NABARD.
a) National Bank for Agri Related Development
b) National Bank for Agricultural and Rural Development
c) National Bank for Agriculture and Resource Development
d) National Bank for Asian Reaserch Development
Answer »Answer: (b)
NABARD stands for National Bank for Agriculture and Rural Development.
It was established on 12 July 1982 by a special Act of parliament to focus on the upliftment of rural India by increasing the credit flow for elevation of agriculture & rural non-farm sector. It is headquartered in Mumbai (Maharashtra).
Question : 6
Which of the following is deducted from NNP to arrive at Nl ?
a) Capital consumption allowance
b) Indirect Tax
c) Subsidy
d) Interest
Answer »Answer: (b)
Net national income (NNI) is an economics term used in national income accounting. It can be defined as the net national product (NNP) minus indirect taxes. Net national income encompasses the income of households, businesses, and the government.
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
100+ Quadratic Equation Questions Answers PDF for Bank
Quadratic Equation multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams
Continue Reading »
IBPS Aptitude Linear Equations MCQ Questions Answers PDF
Linear equations multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams
Continue Reading »
New 100+ Compound Interest MCQ with Answers PDF for IBPS
Compound Interest verbal ability questions and answers solutions with PDF for IBPS RRB PO. Aptitude Objective MCQ Practice Exercises all competitive exams
Continue Reading »
100+ Mixture and Alligation MCQ Questions PDF for IBPS
Most importantly Mixture and Alligation multiple choice questions and answers with PDF for IBPS RRB PO. Aptitude MCQ Practice Exercises all Bank Exams
Continue Reading »