introduction to indian economy section 3 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (b)

Primary sector-Agriculture, fishing, mining and quarrying

Secondary sector- Manufacturing and construction, Gas and water supply

Tertiary sector- trade, transport etc, finance & real estate, community and personnel services

Answer: (d)

Jawahar Rozgar Yojana (JRY) is a poverty alleviation scheme, which falls under the category of works program for the creation of supplementary employment opportunities.

Its implementation vests with the Union government, though Gram Panchayats were to be involved in the planning and implementation of the programme.

Answer: (e)

Navaratna was the title given originally to nine Public Sector Enterprises (PSEs), identified by the Government of India in 1997 as having comparative advantages, which allowed them greater autonomy to compete in the global market. The number of PSEs having Navaratna status has been raised to 16.

In 2009, the government established the Maharatna status, which raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore.

SAIL, NTPC are now Maharatna; while Bharat Heavy Electricals Limited and Shipping Corporation of India Limited are navaratna companies.

Answer: (d)

Gross National Product (GNP) is the market value of all products and services produced in one year by labour and property supplied by the residents of a country.

Unlike Gross Domestic Product (GDP), which defines production based on the geographical location of production, GNP allocates production based on ownership.

Therefore if the firm sells new shares directly to individuals it has no effect on the Gross National product as there is no direct relation between the two.

Answer: (b)

The Millenium Development Goals focus on developing countries. There is one exception: MDG number 8 on developing a global partnership for development, which includes commitments for developed countries to help developing countries.

An important difference is that the sustainable Development Goals are meant to apply to all countries, including developed countries.

Another difference is that the sustainable Development Goals are explicitly meant to include the three dimensions of sustainable development economic, social and environmental.