Indian Economy - Composition and structure - MCQs with answers

Indian Economy - Composition and structure - MCQs with answers


1. The author of the book Poverty and Un British Rule in India is

a. R C Dutt
b. W C Banerjee
c. Dadabai Nauroji
d. Keynes

View Answer / Hide Answer

ANSWER: c. Dadabai Nauroji

Before independence, many of them tried to provide the national income estimates. One such attempt was this book.



2. Consider the following statements and identify the right ones.

i. During independence, Indian economy was heavily dependent on the tertiary sector

ii. Development of industrial and services sector was not limited.

a. I only
b. ii only
c. both
d. none

View Answer / Hide Answer

ANSWER: d. none

During independence, Indian economy was heavily dependent on the agricultural sector and Development of industrial and services sector was limited.



3. Consider the following statements and identify the right ones.

i. The share of agriculture to the GDP today is less than 5% today
ii. The tertiary sector contributes about 55%of the occupational structure.

a. I only
b. ii only
c. both
d. none

View Answer / Hide Answer

ANSWER: d. none

The share of agriculture to the GDP today is around 14%, but still the agriculture sector contributes about 5o%of the occupational structure.



4. Dual economy refers to existence of

a. Imports and export activities
b. Bilateral ties
c. Traditional and modern aspects in the economy
d. Both a and b

View Answer / Hide Answer

ANSWER: c. Traditional and modern aspects in the economy

Dual economy is a feature of developing countries. Here one can find both usage of traditional methods and modern methods, both capital and labor intensive sectors.



5. Mixed economy means an economy where there is

a. Existence of capitalism
b. Privatization, liberalization and globalization
c. Existence of both public and private sectors
d. Growing crops along with rearing animals

View Answer / Hide Answer

ANSWER: c. Existence of both public and private sectors

In India, there is existence of both public and private sectors working together. There is a blend of socialism and capitalism



6. Consider the following statements and identify the right ones.

i. As per the S&P classification, India is one of the emerging markets.
ii. India is included in the Big Emerging market(BEM) economies

a. I only
b. ii only
c. both
d. none

View Answer / Hide Answer

ANSWER: c. both

As per the S&P classification, India is one of the 19 emerging markets. India is included in the Big Emerging market(BEM) economies which are 22 in number.



7. India according to the World Bank classification falls in the category of

a. Low-income economies
b. Lower-middle income economies
c. Upper-middle income economies
d. High-income economies

View Answer / Hide Answer

ANSWER: b. Lower-middle income economies

The World Bank classifies countries on the basis of lending, income and region.



8. Indian economy today is a

i. Developing economy
ii. Emerging economy
iii. Dual economy
iv. Non-agricultural economy

a. I and ii only
b. I, ii and iii
c. I, ii, iii, iv
d. iii and iv

View Answer / Hide Answer

ANSWER: b. I, ii and iii

Indian economy is one of the fastest growing economies of the world today. It is a dual economy too.



9. Low-income countries according to the World Bank classification have income of

a. $1000 or below
b. $987 or below
c. $1035 or below
d. $1023 or below

View Answer / Hide Answer

ANSWER: c. $1035 or below

According to the World Bank classification, low income economies have $1035 or less than that. There are 36 such countries.



10. Consider the following statements and consider the right ones.

i. In India, structure of economy and occupational structure are very similar.
ii. Today, Tertiary sector contributes the highest to the GDP.

a. I only
b. ii only
c. both
d. none

View Answer / Hide Answer

ANSWER: b. ii only

Generally, the structure of economy and occupational structure is very similar in developed countries. In India, it is not so.



11. Arrange in the right order the contribution of sectors to the GDP from highest to lowest.

a. Agriculture, manufacturing, tertiary
b. Agriculture, tertiary, manufacturing
c. Tertiary, manufacturing, agriculture
d. Manufacturing, tertiary, agriculture

View Answer / Hide Answer

ANSWER: c. Tertiary, manufacturing, agriculture

Earlier, agricultural sector occupied the greatest share in the GDP but today it is replaced by the services sector.


Post your comment