introduction to indian economy section 10 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - 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
Question : 41
As the economy develops, the share of the tertiary sector in the GDP:
a) Decreases then increases
b) Remains constant
c) Increases
d) Decreases
Answer »Answer: (c)
As the economy develops, the share of the tertiary sector in the GDP increases.
The tertiary sector of the economy consists of activities where people offer their knowledge and time to improve productivity like,
- telecommunication,
- hospitality industry/tourism,
- mass media,
- healthcare/ hospitals,
- information technology,
- banking,
- insurance,
- investment management,
- accountancy,
- legal services,
- consulting,
- retail sales,
- real estate, and
- education.
As the economy develops people develop more skills and knowledge which they offer as services.
Question : 42
In India, rural incomes are generally lower than urban incomes. Which of the following reasons account for this?
- A large number of farmers are illiterate and know little about scientific agriculture.
- Prices of primary products are lower than those of manufactured products.
- Investment in agriculture has been lower when compared to investment in the industry.
a) 1 and 2
b) 1 and 3
c) 1, 2 and 3
d) 2 and 3
Answer »Answer: (c)
In India a large number of farmers are illiterate and know little about scientific agriculture, prices of primary products are lower than those of manufactured products and Investment in agriculture has been lower when compared to investment in the industry.
All these reasons are responsible for lower rural income.
Question : 43 [SSC CML 2002]
The single largest item of expenditure of the Central Government in India in recent years is
a) Subsidies
b) Defence
c) Interest payment
d) General services
Answer »Answer: (c)
Interest payments are the single largest item of expenditure.
As per the Economic Survey 2011-2012,
- Interest payments constituted 3 per cent of India’s GDP in 2011-12.
- Major subsidies constituted 1.5 per cent,
- While defence expenditure comprised 1.1 per cent of India’s GDP in 2011-12.
- Of the revenue expenditure in 2011-12, interest payments comprised 24.4 per cent;
- Major subsidies: 12.3 per cent and Defence expenditure: 8.7 per cent.
Question : 44 [SSC CGL 2016]
Which of the following sets of taxes belongs to Central Government?
a) Income tax, Custom duty and House tax
b) Excise duty, Sales tax and Custom duty
c) Excise duty, Custom duty and Income tax
d) Custom duty, Entertainment tax and Income tax
Answer »Answer: (c)
The taxing powers of the central government encompass taxes on income (except agricultural income), excise on goods produced (other than alcohol), customs duties, and inter-state sale of goods.
The authority to levy a tax is coming from the Constitution which allocates the power to levy various taxes between the Centre and the State.
Question : 45
Which of the following comes under Non-plan expenditure?
- Subsidies
- Interest payments
- Defence expenditure
- Maintenance expenditure for the infrastructure
a) 1 and 3
b) 2 and 4
c) 1 and 2
d) 1, 2, 3 and 4
Answer »Answer: (d)
Expenditure incurred on the non-development plans is called non-plan expenditure which includes subsidies, interest payments etc.
Non-plan revenue expenditure is accounted for by,
- interest payments,
- subsidies,
- wage and salary payments to government employees,
- grants to States and Union Territories governments,
- pensions,
- police,
- economic services in various sectors,
- other general services such as tax collection,
- social services, and grants to foreign governments.
Non-plan capital expenditure mainly includes,
- defence,
- loans to public enterprises,
- loans to States, Union Territories and foreign governments.
IMPORTANT indian economy mcq 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 »
Introduction to Indian Economy Shortcuts »
Click to Read...introduction to indian economy section 10 Online Quiz
Click to Start..Introduction to Indian Economy Shortcuts and Techniques with Examples
indian economy MCQ CATEGORIES
-
» Introduction to Indian Economy
-
» Planning, Economic Development & Five year Plans
-
» National Income & Human Development Index
-
» Agriculture Sector, Subsidy and Food Processing
-
» Industries, Manufacturing & Service Sectors
-
» Inclusive growth, Sustainable development and employment
-
» Poverty & Unemployment
-
» Introduction to Micro Economics
-
» Introduction to Macro Economics
-
» Macro fundamentals, GDP, Investment, Growth
-
» Demand & Supply, Profit Loss, Inflation & Price Index
-
» Fiscal Policy, Public Finance and Monetary Policy
-
» Money Supply, Banking and Financial Institutions
-
» Taxes Types, Methods & Budgeting Process
-
» Banking, Security Market & Insurance
RECENT BLOGS
Recently Added Subject & Categories For All Competitive Exams
New 150+ Percentage Questions For IBPS Clerk Prelims 2024
Free Top Percentage Quants Aptitude based Multiple Choice Questions and Answers Practice Test Series, Quiz PDF & Mock Test for IBPS Clerk Prelims 2024 Exam
Continue Reading »
Classification Reasoning MCQ For IBPS Clerk Prelims 2024
Most Important 100+ Classification based Verbal Reasoning Ability Multiple choice questions and answers PDF, Free New Mock tests For IBPS Clerk Prelims 2024
Continue Reading »
Ratio and Proportion Questions with Solutions, IBPS Clerk
New Ratio and Proportion Quants Aptitude based Multiple Choice Questions and Answers Practice Test Series, Quiz & Mock Test for IBPS Clerk Prelims 2024 Exam
Continue Reading »
Top Analogy Reasoning Ability For IBPS Clerk Prelims 2024
Most Important Analogy based Verbal Reasoning Multiple choice questions and answers practice quiz series PDF, Free New Mock tests For IBPS Clerk Prelims 2024
Continue Reading »