introduction to indian economy section 14 MCQ Questions & Answers Detailed Explanation

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

Questions : Disguised unemployment generally means:
  1. a large number of people remain unemployed
  2. alternative employment is not available
  3. the marginal productivity of labour is zero
  4. productivity of workers is low
Find out the correct option from the code:

(a) 3 and 1 only

(b) 2 only

(c) 1 and 4 only

(d) 3 only

The correct answers to the above question in:

Answer: (d)

Suppose three people work on the farm, produce 200 kg wheat. If one of them is removed, still farm produces 200 kg wheat.

That is disguised unemployment marginal productivity is zero.

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Question : 1

‘NABARD’ is associated with the development of

a) real estates

b) heavy industries

c) banking sector

d) agricultural sector and rural areas

Answer: (d)

National Bank for Agriculture and Rural Development (NABARD) has been accredited with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”.

It serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas.

Question : 2

Quaternary sector implies

a) Activities related to manufacturing

b) Fishing activities

c) Activities related to mining and quarrying

d) Research and developmental activities

Answer: (d)

Quaternary sector is characterized by the intellectual persons or individuals or group of individual. It includes the research and development activities. Mining and quarrying and fishing are concerned with primary sector activities.

Question : 3

Consider the following statement:

  1. The high degree of disparity in income/wealth distribution prevails in India which is a characteristics feature of a developing economy.
  2. In India, almost 60-70% of the total population still resides in rural areas and hence they depend on agriculture for their livelihood.
  3. India’s per capita income level is much high as compared with other developed countries
Which among the following statement is not correct:

a) 1 and 2

b) 1 and 3

c) 3 only

d) 1 only

Answer: (c)

India is a developing country. Its per capita income level is much low than compared of other developed countries.

The predominance of Agriculture: In India, almost 60-70% of the total population still resides in rural areas and hence they depend on agriculture for their livelihood.

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