planning economic development & five year plans section 9 MCQ Questions & Answers Detailed Explanation

Answer: (b)

After India gained independence, a formal model of planning was adopted, and the Planning Commission, was established on 5 March 950, with Prime Minister Jawaharlal Nehru as the chairman.

Answer: (c)

Answer: (b)

Answer: (d)

The planned economy is based on the mixed economy system.

The concept of a mixed economy evolved from the ideas of Keynes. The concept of Mixed Economy means that both private enterprises and public enterprises coexist.

However, the condition attached is that the private enterprises must work for serving society rather than having only self-interest.

Further, private enterprises may not be allowed in every sector of the economy like area of national importance.

Answer: (c)

The Golden Quadrangle project is associated with the development of Highways. The Golden Quadrilateral is a highway network connecting many of the major industrial, agricultural and cultural centres of India.

A quadrilateral of sorts is formed by connecting Delhi, Mumbai, Kolkata and Chennai, and hence its name.

Answer: (a)

The Competition Act, 2002 prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and Merger and acquisition), which causes or is likely to cause an appreciable adverse effect on competition within India. Competition Commission of India was established on 14 October 2003 and became fully functional in May 2009.

It is a body of the Government of India responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India