CUET Economics MCQs Unit VIII Development Experience 1947 90 and Economic Reforms since 1991

CUET Economics Indian Economy on the Eve of Independence MCQs

Question : Which of the following economist estimated per capita income during colonial period
A. William Digby
B. Findley Shirras
C. Dada Bhai Naoroji
D. All of these

Answer : D

Question : Cotton textile mills were dominated by
A. None
B. Britishers
C. Foreigners
D. Indians

Answer : D

Question : What was the percent growth of per capita income in a year during first half of 20th century.
A. 1%
B. .5%
C. 2%
D. None

Answer : B

Question : When was the first census data collected during British India
A. 1882
B. 1982
C. 1881
D. 1981

Answer : C

Question : TISCO stands for
A. Tata Iron and silver Company
B. Tata Iron and silver Corporation
C. Tata Iodine and silver Company
D. Tata Iron and steel Company

Answer : D

Question : Life expectancy refers to
A. Both
B. Death rate of children below the age of one year
C. Average life of a person
D. None

Answer : C

Question : What was the percentage of population dependent directly or indirectly on agriculture
A. 85
B. 60
C. 75
D. 65

Answer : A

Question : Which of the following statement is true regarding the condition of Infrastructure
A. Balanced regional development in infrastructure in all areas
B. Barter system was still prevailing
C. Development in the area of transport and communication
D. No developments in the areas of roads and railways

Answer : C

Question : In India, which of the following is having highest share in the disbursement of credit to agriculture and allied activities?
A. Cooperative Banks
B. Regional Rural Banks
C. Commercial Banks
D. Microfinance institutions

Answer : C

Question : During colonial period India’s demographic profile showed __
A. high birth rate
B. low death rate
C. low infant mortality rate
D. high literacy rate

Answer : D

Question : Economy of a country is classified into various sectors based on different types of economic activity undertaken in each. Consider the following statements related to some of them.
1. All Agricultural activities are included in Primary sector
2. All Industrial activities are included in secondary sector.
3. Service sector includes only those activities that help in production of goods.
Select the incorrect statements using codes given below.
A. 1 and 2
B. 1 and 3
C. 2 and 3
D. All of the above

Answer : C

Question : First train on India soil was run on 1853 between?
A. Bombay to Thane.
B. Thane to Bombay.
C. Bombay to Surat.
D. None of these.

Answer : A

Question : What was the condition of foreign trade under British rule
A. Net exporter of raw materials
B. Net importer of finished goods reproduced by British India
C. All of these
D. Surplus on account of foreign trade was spent on war expenses

Answer : C

Question : Which of the following is false regarding Positive effect of British rule was
A. Provision of post and telegraph service
B. Monopoly on foreign trade
C. Development of ports
D. Provide transport facilities

Answer : B

Question : Aam Admi Bima Yojana was launched on:
A. November 14, 2011
B. March 5, 2009
C. March 10, 2008
D. October 2, 2007

Answer : D

Question : Iron and steel industries began coming up in
A. Twentieth century
B. Seventieth century
C. Eighteenth century
D. Nineteenth century

Answer : A

Question : Indian economy at the time of independence was
A. None
B. Developing economy
C. Developed economy
D. Backward economy

Answer : D

Question : In accordance with the goal of the state controlling the commanding heights of the economy, the industrial policy resolution of 1956 was adopted consider the following statements about 1956- industrial policy resolution?
1. This resolution formed the basis of the second five year plan, the plan which tried to build the basis for a capitalist pattern of society.
2. This policy was used for promoting industries in backward regions.
3. License to expand production achieved easily.
Select the correct answer from the code given below:
A. 1 and 2
B. 2 only
C. 2 and 3
D. 1 and 3

Answer : B

Question : Decay of handicrafts was caused by:
A. British tarrif policy
B. Competition from man made machines
C. New demand patterns
D. All of the above

Answer : D

Question .Who made significant estimates about calculating national income in India during the British period?
A. V.K.R.V. Rao
B. Dadabhai Naoroji
C. Findlay Shirras
D. William Digby

Answer : A

Question : Which of the following(s) is/are cause(s) of slow growth of private enterprises in India's industrialization (1850-1957)?
A. Unimaginative private enterprise, short-sighted Indian industrialists.
B. complete absense of financial institutions to help transfer of savings to industrial investment.
C. Banking was not highly developed & was more concerned with commerce rather than industry.
D. Lack of support from British government
E. All of these

Answer : E

Question : Cotton textile mills were mainly located in
A. South
B. North
C. Western
D. Eastern

Answer : C

Question : During major part of British period
A. Exports were more than imports
B. None of these
C. Imports were more than exports
D. Exports were equal to imports

Answer : A

Question : Consider the following statements about India’s approach in dealing with 1991 crisis.
1. India approached the international bank for reconstruction and development popularly known as IMF for loan to manage the crisis.
2. India came up with new economic policies which were based on the conditionality of international institutions.
3. Conditionality of international institutions was not as a punishment but were towards creating more competitive environment in the economy.
Select the correct ones.
A. All the above
B. 2 and 3
C. 1 and 2
D. 1 and 3

Answer : B

Question : Indian economy on the eve of independence was:
A. Developed
B. Underdeveloped
C. Stagnant
D. Both B & C

Answer : D

Question . Per capita income means:
A. National income / population
B. Population / national income
C. Total capital /population
D. None of these

Answer : A

Question : Buffer stock is the stock of foodgrains procured by the government through Food Corporation of India (FCI). Consider the following statements in relation to the FCI procurements.
1. The FCI purchases wheat and rice from the states where there is a surplus.
2. Minimum support price is the price announced by the FCI before the sowing season.
3. Issue price is the price issued by the FCI for their procurements based on the market price.
Select the correct ones.
A. 1 and 2
B. Only 2
C. Only 1
D. All the above

Answer : C

Question : In order to bring stability in Agriculture the Britishers introduced land settlement in 1773. Where was it first introduced?
A. fertile lands of Punjab province
B. Bombay province
C. all directly British ruled areas
D. Bengal
E. none of these.

Answer : D

Question : _______ refers to relative distribution of a country’s workforce among various sectors of economic activity
A. Demographic structure
B. Income structure
C. Occupational structure
D. None of these

Answer : C

Question : Death rate and birth rate at the time of independence was
A. High birth rate and Low death rate
B. Low birth rate and low death rate
C. Low birth rate and high death rate
D. High birth rate and high death rate

Answer : D

Question : An important approach to addressing poverty is to provide minimum basic amenities to the people. Consider the following statements about schemes to provide basic amenities.
1. National Social Assistance Programme is a programme to give pension to elderly people who do not have anyone to take care of them.
2. Pradhan Mantri Gramodaya Yojana aims to provide better connectivity in the villages by improving roads.
Select the correct statements using codes below.
A. 1 only
B. 2 only
C. Both 1 and 2
D. None of the above

Answer : C

Question .What was the life expectancy in India during the British rule?
A. 65
B. 38
C. 32
D. 44

Answer : D

Question : Capital goods industries are those
A. None
B. Which can produce consumer goods
C. Both
D. Which can produce machine tools

Answer : D

Question : Life expectancy during colonial period in India?
A. 30yrs
B. 50 yrs
C. 60 yrs
D. 63yrs

Answer : A

Question : Industrial sector creates infrastructure which helps in growth of
A. Primary
B. Tertiary
C. Secondary
D. All of these

Answer : D

Question : India on the eve of independence was
A. Vibrant economy
B. Stagnant economy
C. None
D. Both

Answer : B

Question : What was the motive behind the de-industrialisation by the colonial Govt. in India?
A. Both
B. None
C. To sell British manufactured goods in Indian market at high rate prices
D. To get raw material from India at cheap rate

Answer : A

Question : Jute industries were located in
A. Maharashtra
B. Rajasthan
C. Gujarat
D. Bengal

Answer : D

Question : In which of the following sectors is manufacturing activity included?
A. Primary
B. Tertiary
C. Secondary
D. All of these

Answer : C

Question : Who is responsible for establishing and maintaining astound and efficient accounting and financial reporting system in India?
A. The Comptroller General of Accounts
B. NITI Ayog
C. RBI
D. None of these

Answer : A

Question : India followed a planned economy from the time of independence. Consider the following statements.
1. India‘s plans were of five years and lacked a perspective approach.
2. Directive principles of Indian constitution reflect the planned outlook of India.
3. Our five year plans do not spell out how much of each and every good and service is to be produced.
Select the correct statements using codes below.
A. Only 2
B. 2 and 3
C. 1 and 3
D. All the above

Answer : B
 

CUET Economics Indian Economy 1950-1990 MCQs

Question : Land ceiling refers to __
A. fixing rural landholding at the existing level
B. fixing the quantum of land held by an individual
C. fixing urban landholdings at the existing level
D. fixing land area for irrigation purposes

Answer : B

Question : All the state government imposed land ceiling in 1960 except
A. South-western
B. North-western
C. South-eastern
D. North-eastern

Answer : B

Question : Which of the following statements are not true?
A. SSI were given protection from big industries
B. Concessions were given to SSI
C. Govt. allowed SSI & large industries to produce any type of goods
D. None

Answer : C

Question : Agriculture education ,health and infrastructure were the priority areas in the
A. 12th
B. 9th
C. 11th
D. 10th

Answer : C

Question : What prevented firms from becoming efficient?
A. Tarrifs
B. Quotas
C. Permit License Raj
D. New Economic Policy

Answer : C

Question : Industrial sector and agricultural sector are
A. Have no economic relations with each other
B. Complementary to each other
C. Are substitute of each other
D. Compete with each other

Answer : B

Question : Consider the below statements with reference to Abolition of zamindari system.
i) It brought some 200 lakh tenants into direct contact with the government.
ii) The ownership conferred on tenants gave them the incentive to increase output and this contributed to growth in agriculture.
iii) In some areas like Kerala and West Bengal, the former zamindars continued to own large areas of land by making use of some loopholes in the legislation.
Select the appropriate combination:
A. Only (i) correct
B. Only (i) and (ii) correct
C. Only (ii) and (iii) correct
D. All are correct

Answer : B

Question : Land ceiling refers to _________
A. fixing rural landholding at the existing level
B. fixing the quantum of land held by an individual
C. fixing urban landholdings at the existing level
D. fixing land area for irrigation purposes

Answer : B

Question : Which of the following is not a goal of five year plan ?
A. Growth
B. Equity
C. Land reforms
D. Modernisation

Answer : C

Question : Tenancy reforms refers to
A. Bringing together all plots of land of a cultivator into one compact block
B. Dividing the land into small plots
C. Those who take cultivable land on rent and pay either in terms of money or a part of produce
D. None

Answer : C

Question : Planning commission was set up in
A. 5th March 1951
B. 15th March 1951
C. 25th March 1951
D. 20th March 1951

Answer : B

Question : How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?
A. 17
B. 21
C. 15
D. 2

Answer : A

Question : The policy makers of independent India tried to bring in growth and equity in the agriculture sector through:
i) Bringing in land Reforms
ii) Without using any ‘High Yielding Variety’ (HYV) seeds
Which of the above are correct?
A. Only i
B. Only ii
C. Both i and ii
D. Neither i nor ii

Answer : C

Question : Who is the architect of Indian planning?
A. K.N. Raj
B. PC. Mahalanobis
C. R.C. Desai
D. Dadabhai Navoroji

Answer : B

Question : When was Planning commission established
A. 20th March 1951
B. 5th March 1951
C. 15th March 1951
D. 25th March 1951

Answer : C

Question : Which of the following industries were exclusively reserved for public sector in IPR 1956
A. Arms & Ammunition
B. Atomic energy
C. Air craft
D. All of the above

Answer : D

Question : The basic problem the Indian economy is facing is shortage of
A. Entrepreneurial abilities
B. Natural resources
C. Man made resources
D. Human resources

Answer : C

Question : Which industry employs the largest number of women in India?
A. tea
B. textile
C. jute
D. coal

Answer : A

Question : Infant mortality rate fall due to
A. Better health facilities
B. All of these
C. Poor health facilities
D. No change in health facilities

Answer : A

Question : To protect goods produced in India from imports, Government made use of:
A. Quotas
B. Tariffs
C. both A. and B.
D. neitherA. norB.

Answer : C

Question :  What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.?
A. Multiple cropping
B. Green Revolution
C. Crop insurance
D. HYV

Answer : C

Question : IADP stands for
A. Integrated Agriculture Development Product
B. Intensive Area Development Programme
C. Integrated Area Development Product
D. Intensive Area Development Product

Answer : B

Question : Legally stipulated maximum size beyond which no individual farmer can hold any land
A. Tenancy reforms
B. Abolition of intermediaries
C. Land consolidation
D. Land Ceiling

Answer : D

Question : The economy of India is based on planning through the ___ Year Plan develop executed and monitored by the planning Commission
A. Six
B. Five
C. Three
D. Four

Answer : B

Question : Which of the following organizations looks after the credit needs of agriculture and rural development in India?
A. FCI
B. IDBI
C. NABARD
D. ICAR

Answer : C

Question : Who developed HYV seeds
A. Normal Jones
B. Normal Borlaug
C. Norah Jones
D. Norten Borlaug

Answer : B

Question : Which two crops were benefitted when green revolution was introduced?
A. Tea & coffee
B. Jowar & Bajra
C. Cotton & Jute
D. Rice & Wheat

Answer : D

Question : In 1955, Karve Committee (Village & Small scale committee) was constituted for –
A. Using SSI for rural development
B. Using SSI for urban development
C. Using large scale industries for development\
D. Both A & B

Answer : A

Question : When was Twelfth five year plan started
A. 2007-2012
B. 1997-2002
C. 2012-2017
D. 2002-2007

Answer : C

Question : Schedule________ comprise of industries which would be exclusively owned by the state:
A. A
B. B
C. C
D. None of these

Answer : A

Question : Following are the external factors responsible for industrial sickness except
A. Diversion of funds
B. Government policies related with production, distribution and prices
C. Shortage of power and raw materials
D. Change in investment pattern

Answer : A

Question : Subsidies are
A. Grants taken by government so that commodities sold at prices above the market price
B. Grants taken by government so that commodities sold at prices below the market price
C. Grants given by government so that commodities sold at prices above the market price
D. Grants given by government so that commodities sold at prices below the market price

Answer : D

Question : The economy of India is based on planning through the ___ Year Plan develop executed and monitored by the planning Commission
A. Three
B. Four
C. Six
D. Five

Answer : D

Question : It is a conscious design to shape the socio-economic processes in order to achieve an objective
A. Economic infrastructure
B. Economic development
C. Economic planning
D. Economic growth

Answer : C

Question : SEBI stands for
A. Science and Engineering Board of India
B. Securities and Exchange Board of India
C. Social Equity Bureau of India
D. Science and Educational Board of India

Answer : B

Question : First time the objective of self-reliance was incorporated in the ____ Five year plan
A. First
B. Fifth
C. Second
D. Third

Answer : D

Question : With reference to outcomes of the green revolution, evaluate the following:
1. The low income groups did not get any benefit from it.
2. The HYV crops were more prone to attack by pests.
Which of the above statements is/are not correct?
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2

Answer : A
 

CUET Economics Liberalisation, Privatisation and Globalisation: An Appraisal MCQs

Question : Which of the following is the feature of New Economic Reforms ?
a. Globalization
b. Liberalization
c. Privatization
d. All of the above

Answer : D

Question : Who is the Chairman of the GST Council?
a. Finance Minister
b. Prime Minister
c. Finance Secretary
d. Deputy Chairman of NITI Aayog

Answer : A

Question : FDI (Foreign Direct Investment) attracted by globalisation in India belongs to the
a. World Bank
b. multinationals
c. foreign governments
d. none of the above

Answer : B

Question : Where is the headquarters of WTO located?
a. Italy
b. Geneva
c. New York
d. Washington

Answer : B

Question : Which one of the following is a major benefit of joint production between a local company and a Multi-National Company?
a. MNC can bring latest technology in the production
b. MNC can control the increase in the price
c. MNC can buy the local company
d. MNC can sell the products under their brand name

Answer : A

Question : The New Economic Policy was introduced in India in _____________.
a. 1991
b. 1998
c. 1997
d. None of these

Answer : A

Question : LPG stands for
a. Liberalization, Privatization, Globalization
b. Liquidity, Publicity, Government
c. Liberalization, Privatization,Government
d. None of the above

Answer : A

Question : Which one of the following Indian indus¬tries has been hit hard by globalisation?
a. Information Technology (IT)
b. Toy making
c. Jute
d. Cement

Answer : B

Question : Globalisation has led to higher standards of living of:
a. well-off consumers
b. poor consumers
c. big producers

Answer : A

Question : Globalisation has posed major challenges for:
a. big producers
b. small producers
c. rural poor
d. none of these

Answer : B

Question : Why there was a need for economic reforms in India?
a. Due to fiscal deficit
b. Due to adverse BOP
c. Rise in prices
d. All of the above

Answer : D

Question : Where is the headquarters of WTO located?
a. Italy
b. Geneva
c. New York
d. Washington

Answer : B

Question : Globalisation has improved the living structure of which of the following?
a. All the people
b. Workers in developing countries
c. People in developed countries
d. None of the above

Answer : B

Question : Which of the following replaced MRTP Act?
a. Competition Act
b. Foreign Exchange Management Act
c. New Companies Act
d. None of these

Answer : A

Question : Which of these institutes supports investments and foreign trade in India?
a.  International Monetary Fund (IMF)
b. World Trade Organisation (WTO)
c. World Bank
d. International Labour Organisation (ILO)

Answer : B

Question : Opening the doors of economy for foreign companies , technology, capital, human resource etc. is called___
a. Globalization
b. Liberalization
c. Privatization
d. None of the above

Answer : A

Question : What is happening with the import of Chinese toys in India ? 
a. Indian toys are selling more
b. Indian consumers are buying less
c. Indian consumers are getting more choice at cheaper rates
d. Chinese consumers are falling short of choice

Answer : C

Question : How many industries are entirely reserved for the public sector?
a. 6
b. 10
c. 2
d. 4

Answer : C

Question : Freedom of the producing units from direct or physical control imposed by the government is called____
a. Privatization
b. Globalization
c. Liberalization
d. None of the above

Answer : C

Question : Tax on imports is an example of:
a. Terms of Trade
b. Collateral
c. Trade Barriers
d. Foreign Trade

Answer : C

Question : New economic policy is also known as___
a. New economic reforms
b. New economic region
c. New economic law
d. None of the above

Answer : A

Question : is the result of New Industrial Policy which abolished the 'License System'.
a. Globalisation
b. Privatisation
c. Liberalisation
d. None of these

Answer : B

Question : Which out of the following is an example of a trade barrier? 
a. Foreign investment
b. Delay or damage of goods
c. Tax on imports
d. None of these

Answer : C

Question : New Economic Policy was introduced in the year___________.
a. 1980
b. 1991
c. 2013
d. 2015

Answer : B

Question : If a country liberalises its trade, it will make the country more attractive for
a. inward investment
b. exchange reserve
c. consumption
d. price

Answer : A

Question : The removal of tariff barriers can lead to lower prices for
a. suppliers
b. consumers
c. competitors
d. none of these

Answer : B

Question : Globalisation results in
a. inflow of labour from abroad
b. inflow of capital from abroad
c. inflow of tourists from abroad
d. all the above

Answer : B

Question : Government can make globalisation more ‘fair’ by:
a. increasing competition
b. increasing employment
c. implementing the labour laws
d. imposing trade barriers

Answer : C