50 questions for increase your general knowledge
MODEL SET-11. India has (C.D.S.1992)
(a) Socialistic economy
(b) Gandhian economy
(c) Mixed economy (d) free economy
2. The type of unemployment mostly found in India can be characterized as
(a) Structural (b) Frictional
(c) Cyclical (d) Disguised
3. India opted for 'Mixed Economy' in
(a) Framing of the Constitution
(b) Second Five Year Plan
(c) Industrial Policy of 1948
(d) None of these
4. The contribution of agriculture to India's economy is
(a) Increasing (b) Decreasing
(c) Constant (d) None of these
5. The Structural Adjustment Loan to Support Indian Economy's leap into a more competitive and efficient environment has been secured from (U.D.C.1993)
(a) The World Bank
(b) Bank of America
(c) The Asian Development Bank
(d) International Monetary Fund
6. The most important source of capital formation in India has been (R.R3.1994)
(a) Household savings
(b) Public sector savings
(c) Government revenue surpluses
(d) Corporate savings
7. 'Globalization of Indian Economy' means
(a) Stepping up external borrowings
(b) Establishing Indian business units abroad
(c) Having minimum possible restrictions on economic relations with other countries
(d) Giving up programmes of import substitution
8. Indian economy since independence can be described as
(a) An under developed economy
(b) An under developed but developing economy
(c) A backward economy
(d) A developed economy
9. The decentralization system was recommended by
(a) C. Rajagopalachari (b) J.B. Kripalani
(c) Balwant Rai Mehta (d) Ashok Mehta
10. According to Gandhiji, private property should
(a) Be abolished
(b) Remain but have a ceiling
(c) Be taken over and distributed more equitably by the State
(d) Remain but should be used by the owners as trustees for common good
11. In India, the Public Sector is most dominant in (i.A.S.1993)
(a) Transport
(b) Steel production
(c) Commercial banking
(d) Organized term-lending financial institutions
12. Goa's economy is mainly based on (Investigator's Exam, 1990)
(a) Tourism (b) Export of ores
(c) Agriculture (d) None of these
13. The earliest Cooperative societies formed in India were
(a) Housing societies (b) Marketing societies
(c) Credit societies (d) Farming societies
14. India's wage policy is based on (Railways, 94)
(a) Cost of living (b) Standard of living
(c) Productivity (d) None of these
15. Disguised unemployment in India is mainly related to
1. Agricultural sector 2. Rural Area 3. Factory Sector 4. Urban urea
(a) 1 & 2 (b) I & 3
(c) 2 & 4 (d) 3 & 4
16. Which of the following organizations has recently rated India as the sixth largest economy in the world?
(a) World Bank
(b) Asian Development Bank
(c) European Economic Community
(d) International Monetary Fund
17. According to Mahatma Gandhi's economic philosophy, complete happiness can be achieved by
(a) Destroying machines
(b) Providing maximum employment opportunities
(c) Implanting cottage industries
(d) None of these
18. One of the reasons for India's occupational structure remaining more or less the same over the years has been that (I.A.S.1995)
(a) Productivity in agriculture has been high enough to induce people to stay with agriculture.
(b) People are largely unaware of the significance of transition from agriculture to industry for economic development.
(c) Investment pattern has been directed towards Capital intensive industries.
(d) Ceilings on land holdings have enabled more people to own land and hence their preference to stay with agriculture.
19. Modern economy is one of
(a) Open economy (b) Cash economy
(c) Credit economy (d) Planned economy
20. India is more experiencing an annual rate of growth of prices which may be apply characterized as
(a) Suppressed inflation (b) Normal Inflation (c) Stagflation (d) Hyper Inflation
21. Who wrote the book 'Planned Economy for India'?
(a) M. Visvesvaraya (b) Sardar Vallabhbhai Patel
(c) Jawaharlal Nehru (d) Mahatma Gandhi
22. Which of the following is the major consideration for initiating a series of measures aimed at liberalizing the Indian economy during the last one year?
(a) Import of gold to meet domestic demand.
(b) Encouragement of foreign equity participation in Indian industries.
(c) Reduction of excise duty on several consumer goods.
(d) Import of food to face artificially created scarcity.
23. In India since Independence
(a) The gap between the rich and the poor his been bridged
(b) The magnitude of unemployment has decreased
(c) Poverty has been reduced
(d) The rate of savings and investment have gone up
24. Which of the following measures is not likely to help in improving India's balance of payments position?
(a) Devaluation of the rupee
(b) Encouragement of import substitution
(c) Imposition of higher duty on imports
(d) Imposition of higher duty on exports
25. One of the main factors that led to rapid expansion of Indian exports is
(a) Liberalization of the economy
(b) Diversification of exports
(c) Imposition of import duties
(d) Recession in other countries
26. Which of the following is correct regarding the Gross Domestic Savings in India? (Assistant Grade, 1992)
(a) Contribution of Household sector is the largest
(b) Contribution of Government sector is the largest
(c) Contribution of Corporate sector is the largest
(d) None of these
27. The main argument advanced in favor of small scale and cottage industries in India is that
(a) Cost of production is low
(b) They require small capital investment
(c) They advance the goal of equitable distribution of wealth
(d) They generate a large volume of employment
28. Which is the least achieved objective of India's Five Year Plans?
(a) Reduction in disparities of wealth and income
(b) Progress in basic & key industries
(c) Education for all
(d) Removal of mass poverty
(e) Development of agriculture
29. India's share in the World Tourist market is
(a) Less than 1%
(b) Between 1% and 2%
(c) More than 2% but less than 3%
(d) Slightly more than 3%
30. Which of the following governmental steps has proved relatively effective in controlling the double digit rate of inflation in the Indian economy during recent years? (I.A.S. 1994)
(a) Containing budgetory deficits and unproductive expenditure
(b) Streamlined public distribution system
(c) Enhanced rate of production of all consumer goods
(d) Pursuing an export-oriented strategy
31. The inflation experienced in the country at present is
(a) Galloping inflation (b) Secondary inflation (c) Unrealistic inflation (d) Cost push inflation
32. India's progress has been reasonably satisfactory in connection with
(a) Growth of per capita income
(b) Reduction in inequalities
(c) Reduction of unemployment
(d) Growth of GNP
33. The most serious economic problems of India are
(a) Poverty and unemployment
(b) Stagnation, not poverty
(c) Unemployment, not poverty
(d) Underdevelopment, not poverty
34. Which of the following constitute short-term sources of finance for small scale industries?
1. Private money lenders
2. Loans by commercial banks
3. Credit Guarantee schemes
4. National Small Industries Corporation
(a) 1, 2 and 3 (b) 1 only
(b) 1, 2 and 4 (d) 1, 2, 3 and 4
35. The 'Slack Season' in the Indian Economy is
(a) Mar-Apr (b) Sep-Dec
(c) Jan-June (d) Feb-Apr
36. Which of the following provides the largest part of the demand for loanable funds in India?
(a) Farmers (b) Private house purchasers
(c) Corporate businesses (d) Hire purchase borrowers
37. In India, present trend of rapid urbanization is due to
(a) Lack of employment opportunities in rural areas.
(b) Influence of cinema and electronic media
(c) Break up of joint family system
(d) Abolition of zamindari system
38. Which of the following is the most important objective of Indian planning?
(a) Reducing price instability
(b) Increasing capital formation
(c) Reducing inequality of income and wealth
(d) Increasing per capita income
39. Present Industrial policy in India aims at
(a) Promoting the private sector units
(b) Increasing the production of public sector units
(c) Accelerating the performance of mixed economy
(d) Discourage the performance of the private sector units
40. The modern economy is not characterized by (Railways,1994)
(a) Capital intensive mode of production
(b) Development of money economy
(c) Production for market
(d) Self sufficient village system
41. Which of the following is not one of the three central problems of an economy?
(a) What to produce (b) How to produce
(c) When to produce (d) For whom to produce
42. Indian farmers insurance against crop failure is the process of one of the major methods of risks coverage by Indian farmers is
(a) Relay cropping (b) Dry farming
(c) Mixed cropping (d) Share cropping
43. The largest source of saving in India since 1950 has been?
(a) Persons (b) Companies
(c) Nationalized industries (d) All have contributed the same
44. In India which of the following measures of money denotes the 'Broad Money'? (S.S.C.2000)
(a) M4 (b) M2
(c) M3 (d) M4
45. India's Economic Summit was held in December 1999, in
(d) Mumbai (b) New Delhi (c) Chennai (d) Bangalore
46. What was the primary objective of 'Green Revolution' in India?
(a) To increase the area of green forests under social forestry scheme
(b) Modernization of agriculture through science and technology
(c) To introduce the Japanese method of paddy cultivation
(d) To increase the extent of cash crop cultivation
47. ISO-9000 certificate is a stringent quality control standard for electronic goods that is essential for any Indian exporter to compete in International markets. It is issued by the
(a) Bureau of Indian Standards
(b) British Standards Institution
(c) U-N. Exports Agency
(d) None of these
48. What was the most significant impact of the Industrial Revolution in Europe on India's economy?
(a) Machines were introduced in the textile industry
(b) Handicrafts of India were ruined
(c) Heavy import duty was imposed on foreign goods
(d) Employment opportunities increased manifold
49. India adopted the Five Year Plans from (SS.C. 2001)
(a) France (b) Former USSR
(c) America (d) England
50. India's first Greenfield Special Economic Zone (SEZ) was set up at
(a) Ahmadabad (b) Bangalore
(c) Indore (d) Pune
ANSWERS ANSWERS
1. (c)
2. (d)
3 (c)
4.(b)
5. (a)
6. (a)
7(c)
8. (b)
9.(c)
10 (d)
11 (c)
12.(b)
13 (c)
14. (a)
15. (a)
16. (d)
17.(c)
18. (c)
19. a)
20. (d)
21 (a)
22. (b)
23 (d)
24.(d)
25. (a)
26. (a)
27.(d)
28. (d)
29.(a)
30. (a)
31 (M)
32.(d)
33 (a)
34. (a)
35. (c)
36. (c)
37. (a)
38. (d)
39. (c)
40. (d)
41 (c)
42.( c)
43 (3)
44. (c)
45.(b)
46. (b)
47. (b)
48 (b)
49.(d)
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