NATURE OF INDIAN ECONOMY MCQS SET 12

NATURE OF INDIAN ECONOMY MCQS SET 12

111) Total utility of a commodity is measured by which price of that commodity?
A) Value in use
B) Value in exchange
C) Both of above
D) None of above
Correct Answer: Value in use
   
112) According to Marshall, the basis of consumer surplus is:
A) Law of diminishing marginal utility
B) Law of equi-marginal utility
C) Law of proportions
D) All of the above
Correct Answer: Law of diminishing marginal utility
   
113) Development means economic growth with:
A) price stability
B) social change
C) deflation
D) inflation
Correct Answer: social change
   
114) Which of the following is/are major development Issues in India?
1. low percapita income
2. substantial preportion of population below poverty line
3. problem of unemployment
4. imbalance in distribution and growing inequalities
5. huge expense on developmental programmes
A) 1, 2 and 5
B) 2, 3 and 4
C) 1, 2, 3 and 4
D) 4 and 5
Correct Answer: 1, 2, 3 and 4
   
115) The concept of Five Year Plans in India was introduced by
A) Lord Mountbatten
B) Jawaharlal Nehru
C) Indira Gandhi
D) Lal Bahadur Shastri
Correct Answer: Jawaharlal Nehru

116) India has:
A) Socialistic economy
B) Gandhian economy
C) Mixed economy
D) Free economy
Correct Answer: Mixed economy
 
117) India opted for 'Mixed Economy' in:
A) Framing of the Constitution
B) Second Five Year Plan
C) Industrial Policy of 1948
D) None of the above
Correct Answer: Industrial Policy of 1948
   
118) Mixed economy means an economy where
A) both agriculture and industry are equally promoted by the state
B) there is co-existence of public sector along with private sector
C) there is importance of small scale industries along with heavy industries
D) economy is controlled by military as well as civilian rulers.
Correct Answer: there is co-existence of public sector along with private sector
   
119) India's economic planning cannot be said to be:
A) indicative
B) imperative
C) limited
D) democratic
Correct Answer: imperative
   
120) Which of the following could be said to have prevented the 'trickle down' effects in Indian economy?
1. Increased dependence of agriculture on purchased inputs and privately managed irrigation
2. More employment of labour by larger Iandholding farmers
3. Lowered participation of women in agricultural workforce due to new technology
4. The failure of the Green Revolution
A) 1 and 2
B) 2 and 3
C) 1 and 3
D) 2 and 4
Correct Answer: 1 and 3