industries manufacturing & service sectors section 7 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 6

What do you understand by the term “Circular Economy” often seen in news?

a) It refers to an industrial system that is restorative or regenerative in nature

b) It refers to a “Closed Economy” that primarily relies on internal trade

c) It refers to the cyclical booms and recession in an economy

d) It refers to a system in which there is Cyclical correlation between savings and investment

Question : 7

What is the approximate share of SSIs in gross industrial value added in the Indian economy?

a) 5%

b) 25%

c) 30%

d) 40%

Question : 8

Which statement is correct regarding the cotton industry?

1. The first Indian modernised cotton mill, located in Kolkata in 1818
2. The second mill named ‘Bombay Spinning and Weaving Co.’ was established in 1854 at Bombay by KGN Daber
3. There were 394 cotton mills in India before the partition

a) Only II

b) II & III

c) I & II

d) All the above

Question : 9

The SEZ Act 2005 which came into effect in February 2006 has certain objectives? In this context consider the following :

1. Development of infrastructure facilities
2. Promotion of investment from foreign sources.
3. Promotion of export of services only.

a) 2 only

b) 2 and 3

c) 1 and 2

d) 1, 2 and 3

Question : 10

Identify the correct sequence of the establishment of steel plant in India from the earliest to the latest.

a) Jamshedpur–Bhilai, Bokaro–Vishakhapatnam

b) Bhilai, Jamshedpur, Vishakhapatnam, Bokaro

c) Bokaro–Jamshedpur, Vishakhapatnam, Bhilai

d) Jamshedpur, Bokaro, Bhilai, Vishakhapatnam