‘Economics is the study of mankind in the ordinary business of life’ was given by :
A
Adam Smith
B
Lord Robbins
C
Alfred Marshall
D
Samuelson
Question 2Single Answer
A study of how increase in the corporate income tax rate will affect the natural unemployment rate is an example of :
A
Macro Economics
B
Descriptive Economics
C
Micro Economics
D
Normative Economics
Question 3Single Answer
Which was a major structural feature of the Indian economy at the time of independence in 1947?
A
Predominantly agrarian economy
B
Highly industrialized economy
C
Service-dominated economy
D
Export-oriented manufacturing
Question 4Single Answer
What was the main objective of the First Five-Year Plan (1951-56)?
A
Agricultural development
B
Rapid industrialization
C
Privatization
D
Export promotion
Question 5Single Answer
Which sector contributed the largest share to India's GDP at the time of independence?
A
Industry
B
Agriculture
C
Services
D
Mining
Question 6Single Answer
Which planning model influenced the Second Five-Year Plan?
A
Solow Model
B
Harrod-Domar Model
C
Mahalanobis Model
D
Lewis Model
Question 7Single Answer
The Second Five-Year Plan emphasized development of which sector?
A
Agriculture
B
Heavy industries
C
Small industries
D
Services
Question 8Single Answer
Which of the following was a major problem faced by Indian agriculture after independence?
A
Surplus labor
B
Excess mechanization
C
Low productivity
D
High capital intensity
Question 9Single Answer
The Green Revolution in India primarily aimed to increase production of which crops?
A
Pulses and oilseeds
B
Wheat and rice
C
Cotton and jute
D
Sugarcane and tea
Question 10Single Answer
Which Five-Year Plan period witnessed the Green Revolution?
A
First Plan
B
Fifth Plan
C
Fourth Plan
D
Third Plan
Question 11Single Answer
Which factor played a crucial role in the success of the Green Revolution?
A
Foreign trade
B
Organic manure
C
Cottage industries
D
HYV seeds
Question 12Single Answer
Which institution provides agricultural credit in rural India?
A
NABARD
B
RBI
C
SEBI
D
EXIM Bank
Question 13Single Answer
Organic farming mainly avoids the use of which inputs?
A
Irrigation
B
Chemical fertilizers
C
Labor
D
Land
Question 14Single Answer
Organic farming promotes the use of which of the following?
A
Synthetic pesticides
B
Chemical herbicides
C
Biofertilizers
D
Industrial waste
Question 15Single Answer
Which Five-Year Plan introduced the concept of "Garibi Hatao"?
A
Fifth Plan
B
Fourth Plan
C
Third Plan
D
Sixth Plan
Question 16Single Answer
Which policy aimed at controlling monopolies and restrictive trade practices in India?
A
GST Act
B
FEMA
C
MRTP Act
D
FRBM Act
Question 17Single Answer
The Industrial Policy Resolution of 1956 emphasized which economic system?
A
Capitalist economy
B
Mixed economy
C
Socialist economy
D
Market economy
Question 18Single Answer
The Industrial Policy Resolution of 1956 classified industries into how many categories?
A
Two
B
Five
C
Four
D
Three
Question 19Single Answer
Which sector was reserved exclusively for the public sector under the Industrial Policy of 1956?
A
Agriculture
B
Food processing
C
Textile industry
D
Defense production
Question 20Single Answer
Which organization regulates India's foreign trade policies?
A
NABARD
B
RBI
C
SEBI
D
DGFT
Question 21Single Answer
Import Substitution Industrialization (ISI) aimed to achieve what objective?
A
Increase exports
B
Increase foreign aid
C
Encourage tourism
D
Reduce imports
Question 22Single Answer
Which type of trade policy was followed by India before 1991?
A
Protectionist trade
B
Liberal trade
C
Free trade
D
Open economy
Question 23Single Answer
The Planning Commission was established in which year?
A
1947
B
1950
C
1952
D
1956
Question 24Single Answer
Which Prime Minister introduced the Planning Commission?
A
Jawaharlal Nehru
B
Indira Gandhi
C
Lal Bahadur Shastri
D
Rajiv Gandhi
Question 25Single Answer
The Third Five-Year Plan focused on which goal?
A
Privatization
B
Export promotion
C
Self-reliance in agriculture
D
IT development
Question 26Single Answer
Which plan period faced severe disruption due to wars and droughts?
A
First Plan
B
Third Plan
C
Second Plan
D
Fourth Plan
Question 27Single Answer
Which period is known as the "Plan Holiday"?
A
1966-69
B
1970-72
C
1980-82
D
1990-92
Question 28Single Answer
Which crop was the first major success of the Green Revolution?
A
Rice
B
Barley
C
Maize
D
Wheat
Question 29Single Answer
The concept of "Minimum Support Price" (MSP) is related to which sector?
A
Industry
B
Agriculture
C
Banking
D
Foreign trade
Question 30Single Answer
Which institution announces MSP in India?
A
RBI
B
NABARD
C
CACP
D
SEBI
Question 31Single Answer
Land reforms in India mainly aimed at what objective?
A
Industrial growth
B
Equity in land distribution
C
Export promotion
D
Urbanization
Question 32Single Answer
Which land reform measure abolished intermediaries?
A
Consolidation of holdings
B
Cooperative farming
C
Zamindari abolition
D
Tenancy reform
Question 33Single Answer
Consolidation of holdings aims to solve which agricultural problem?
A
Irrigation shortage
B
Land fragmentation
C
Labor shortage
D
Soil erosion
Question 34Single Answer
Operation Flood is related to which sector?
A
Fisheries
B
Dairy development
C
Textile industry
D
Mining
Question 35Single Answer
The White Revolution in India is associated with which commodity?
A
Milk
B
Wheat
C
Rice
D
Cotton
Question 36Single Answer
Which organization led Operation Flood?
A
NABARD
B
FCI
C
NDDB
D
ICAR
Question 37Single Answer
Which plan introduced the concept of "Growth with stability"?
A
Fifth Plan
B
Fourth Plan
C
Sixth Plan
D
Seventh Plan
Question 38Single Answer
The Fourth Five-Year Plan period was?
A
1979-84
B
1974-79
C
1969-74
D
1980-85
Question 39Single Answer
Which policy encouraged development of small-scale industries in India?
A
Industrial licensing policy
B
Free trade policy
C
SSI reservation policy
D
Export subsidy policy
Question 40Single Answer
Industrial licensing was introduced under which policy framework?
A
Globalization policy
B
Liberalization policy
C
Privatization policy
D
License Raj
Question 41Single Answer
Which sector showed fastest growth during the 1980s in India?
A
Agriculture
B
Industry
C
Mining
D
Services
Question 42Single Answer
Which port handles the largest share of India's foreign trade historically?
A
Chennai Port
B
Mumbai Port
C
Kolkata Port
D
Kochi Port
Question 43Single Answer
Export promotion councils in India mainly aim to?
A
Increase imports
B
Control production
C
Regulate prices
D
Promote exports
Question 44Single Answer
The main export item of India during the early planning period was?
A
Software
B
Electronics
C
Petroleum
D
Agricultural products
Question 45Single Answer
Import licensing in India was mainly introduced to?
A
Promote imports
B
Control foreign exchange
C
Encourage tourism
D
Increase investment
Question 46Single Answer
Which Five-Year Plan emphasized poverty removal and employment?
A
Third Plan
B
Fourth Plan
C
Fifth Plan
D
Second Plan
Question 47Single Answer
Which economist popularized the term "Hindu rate of growth"?
A
Raj Krishna
B
Amartya Sen
C
Jagdish Bhagwati
D
V.K.R.V. Rao
Question 48Single Answer
Which crop requires the most irrigation in India?
A
Wheat
B
Rice
C
Pulses
D
Barley
Question 49Single Answer
The Agricultural Produce Market Committee (APMC) regulates which activity?
A
Banking services
B
Industrial production
C
Agricultural marketing
D
Export policy
Question 50Single Answer
The main objective of community development programs was to?
A
Increase exports
B
Promote rural development
C
Industrialize cities
D
Promote IT sector
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Concerned Subject (Economics)
Question 51Single Answer
Community Development Programme was launched in which year?
A
1960
B
1955
C
1952
D
1965
Question 52Single Answer
Which major irrigation project was started during the early planning period?
A
Bhakra Nangal Project
B
Tehri Dam
C
Sardar Sarovar Dam
D
Hirakud Modernization Project
Question 53Single Answer
Which type of unemployment was widely prevalent in Indian agriculture after independence?
A
Frictional unemployment
B
Cyclical unemployment
C
Disguised unemployment
D
Structural unemployment
Question 54Single Answer
The objective of land ceiling laws was to?
A
Increase industrial production
B
Increase exports
C
Limit maximum land ownership
D
Reduce taxation
Question 55Single Answer
Which crop is mainly associated with dryland farming in India?
A
Millets
B
Wheat
C
Rice
D
Sugarcane
Question 56Single Answer
Agricultural diversification refers to?
A
Growing only one crop
B
Reducing crop production
C
Shifting from crop farming to allied activities
D
Increasing fertilizer use
Question 57Single Answer
Which factor mainly determines cropping intensity?
A
Land fertility
B
Transportation
C
Labor supply
D
Irrigation facilities
Question 58Single Answer
The major objective of agricultural price policy is to?
A
Control inflation only
B
Stabilize farmers’ income
C
Reduce exports
D
Promote imports
Question 59Single Answer
Which institution procures food grains at MSP?
A
FCI
B
RBI
C
SEBI
D
NABARD
Question 60Single Answer
The Food Corporation of India (FCI) was established in which year?
A
1975
B
1955
C
1965
D
1980
Question 61Single Answer
Which scheme aimed at providing employment in rural areas during the planning period?
A
NREP
B
GST
C
FDI Policy
D
EXIM Policy
Question 62Single Answer
The National Rural Employment Programme (NREP) was launched in which year?
A
1975
B
1980
C
1985
D
1990
Question 63Single Answer
The main aim of IRDP (Integrated Rural Development Programme) was to?
A
Urban development
B
Rural poverty alleviation
C
Export promotion
D
Industrial licensing
Question 64Single Answer
IRDP was launched in which year?
A
1978
B
1980
C
1985
D
1991
Question 65Single Answer
The Public Distribution System (PDS) is related to?
A
Food grain distribution
B
Industrial goods distribution
C
Export promotion
D
Banking services
Question 66Single Answer
Which crop is known as a cash crop?
A
Cotton
B
Wheat
C
Rice
D
Maize
Question 67Single Answer
Which industry was the first modern industry in India?
A
Iron and steel
B
Cotton textile
C
Jute industry
D
Sugar industry
Question 68Single Answer
The first cotton textile mill in India was established in which city?
A
Kolkata
B
Mumbai
C
Ahmedabad
D
Chennai
Question 69Single Answer
The jute industry in India is mainly concentrated in which state?
A
Gujarat
B
Tamil Nadu
C
Maharashtra
D
West Bengal
Question 70Single Answer
Which industry is called the backbone of industrial development?
A
Textile industry
B
Iron and steel industry
C
Food processing industry
D
Paper industry
Question 71Single Answer
The first integrated steel plant in the public sector in India was?
A
Bhilai Steel Plant
B
Rourkela Steel Plant
C
Bokaro Steel Plant
D
Durgapur Steel Plant
Question 72Single Answer
Bhilai Steel Plant was established with the assistance of which country?
A
USA
B
Germany
C
UK
D
USSR
Question 73Single Answer
Rourkela Steel Plant was established with the help of which country?
A
Germany
B
USA
C
UK
D
Japan
Question 74Single Answer
Durgapur Steel Plant was established with assistance from which country?
A
USA
B
UK
C
USSR
D
Japan
Question 75Single Answer
Which organization regulates industrial licensing in India before 1991 reforms?
A
SEBI
B
RBI
C
Ministry of Industry
D
NABARD
Question 76Single Answer
Which policy aimed at promoting balanced regional industrial development?
A
Industrial location policy
B
Trade policy
C
Monetary policy
D
Fiscal policy
Question 77Single Answer
Which term refers to government protection of domestic industries from foreign competition?
A
Liberalization
B
Privatization
C
Protectionism
D
Globalization
Question 78Single Answer
Import substitution strategy encourages?
A
Domestic production of imported goods
B
Export promotion
C
Free trade
D
Foreign investment
Question 79Single Answer
Which organization regulates India's foreign exchange before 1991 reforms?
A
FCI
B
SEBI
C
NABARD
D
RBI
Question 80Single Answer
The Foreign Exchange Regulation Act (FERA) was enacted in which year?
A
1985
B
1965
C
1973
D
1991
Question 81Single Answer
Which port is the oldest operating port in India?
A
Mumbai Port
B
Chennai Port
C
Kolkata Port
D
Kochi Port
Question 82Single Answer
Which commodity dominated India’s exports during the colonial period?
A
Machinery
B
Raw materials
C
Electronics
D
Petroleum
Question 83Single Answer
Which item was a major import for India in the early planning period?
A
Software
B
Capital goods
C
Tea
D
Jute
Question 84Single Answer
Which institution promotes exports of agricultural products from India?
A
APEDA
B
SEBI
C
RBI
D
IRDA
Question 85Single Answer
Balance of trade refers to?
A
Difference between revenue and expenditure
B
Difference between exports and imports
C
Difference between savings and investment
D
Difference between income and consumption
Question 86Single Answer
Trade deficit occurs when?
A
Exports exceed imports
B
Exports equal imports
C
Imports exceed exports
D
No trade occurs
Question 87Single Answer
Which sector is considered the primary sector of the economy?
A
Banking
B
Industry
C
Services
D
Agriculture
Question 88Single Answer
Industrial growth during early planning period was mainly supported by?
A
NGOs
B
Private sector only
C
Foreign companies
D
Public sector enterprises
Question 89Single Answer
Which concept refers to production for self-consumption?
A
Subsistence farming
B
Commercial farming
C
Plantation farming
D
Contract farming
Question 90Single Answer
Plantation agriculture in India mainly produces?
A
Wheat and rice
B
Tea and coffee
C
Pulses and oilseeds
D
Millets and maize
Question 91Single Answer
Which plan introduced the concept of rolling plan?
A
Fourth Plan
B
Fifth Plan
C
Sixth Plan
D
Janata Government Plan
Question 92Single Answer
The Rolling Plan was introduced in which year?
A
1980
B
1978
C
1985
D
1990
Question 93Single Answer
The Sixth Five-Year Plan period was?
A
1978-83
B
1990-95
C
1985-90
D
1980-85
Question 94Single Answer
The Seventh Five-Year Plan period was?
A
1980-84
B
1990-95
C
1975-80
D
1985-90
Question 95Single Answer
The main objective of the Seventh Plan was?
A
Export liberalization
B
Privatization
C
IT revolution
D
Food security and employment
Question 96Single Answer
Which sector contributed the largest share to employment in India before 1991?
A
Banking
B
Industry
C
Services
D
Agriculture
Question 97Single Answer
Which agricultural practice improves soil fertility naturally?
A
Crop rotation
B
Monocropping
C
Excess fertilizer use
D
Overgrazing
Question 98Single Answer
Green manure is mainly used to?
A
Improve irrigation
B
Control pests
C
Increase soil fertility
D
Increase exports
Question 99Single Answer
Which farming method uses natural inputs and ecological balance?
A
Mixed farming
B
Intensive farming
C
Plantation farming
D
Organic farming
Question 100Single Answer
Which institution conducts agricultural research in India?
A
RBI
B
ICAR
C
SEBI
D
NABARD
Question 101Single Answer
ICAR stands for?
A
International Committee of Agricultural Research
B
International Council of Agricultural Research
C
Indian Committee of Agricultural Reform
D
Indian Council of Agricultural Research
Question 102Single Answer
Which plan emphasized modernization and self-reliance?
A
Fifth Plan
B
Third Plan
C
Fourth Plan
D
Sixth Plan
Question 103Single Answer
The term "License Raj" refers to?
A
Banking reform
B
Agricultural reform
C
Industrial licensing system
D
Export promotion
Question 104Single Answer
Industrial licensing restricted?
A
Agricultural production
B
Industrial expansion
C
Foreign aid
D
Rural employment
Question 105Single Answer
Which industry is considered a consumer goods industry?
A
Machinery industry
B
Steel industry
C
Cement industry
D
Textile industry
Question 106Single Answer
Which industry provides inputs to other industries?
A
Consumer goods industry
B
Capital goods industry
C
Cottage industry
D
Small-scale industry
Question 107Single Answer
Which sector is known as the tertiary sector?
A
Mining sector
B
Agriculture sector
C
Services sector
D
Manufacturing sector
Question 108Single Answer
Tourism belongs to which sector?
A
Tertiary sector
B
Secondary sector
C
Primary sector
D
Quaternary sector
Question 109Single Answer
Banking is part of which sector?
A
Primary sector
B
Secondary sector
C
Agricultural sector
D
Tertiary sector
Question 110Single Answer
Which type of farming is practiced mainly for market sale?
A
Commercial farming
B
Subsistence farming
C
Primitive farming
D
Shifting cultivation
Question 111Single Answer
Which crop is known as "Golden Fibre"?
A
Cotton
B
Wool
C
Silk
D
Jute
Question 112Single Answer
Which crop is called "White Gold" in India?
A
Wheat
B
Sugarcane
C
Rice
D
Cotton
Question 113Single Answer
Which crop is called "King of Cereals"?
A
Wheat
B
Rice
C
Maize
D
Barley
Question 114Single Answer
Which crop is mainly grown in plantation agriculture in Assam?
A
Coffee
B
Tea
C
Rubber
D
Cocoa
Question 115Single Answer
Which crop is mainly grown in Karnataka plantations?
A
Wheat
B
Coffee
C
Rice
D
Cotton
Question 116Single Answer
Rubber plantations are mainly found in which state?
A
Kerala
B
Punjab
C
Haryana
D
Rajasthan
Question 117Single Answer
Which factor is most important for agricultural productivity?
A
Climate
B
Labor
C
Technology
D
Soil fertility
Question 118Single Answer
Mechanization in agriculture mainly increases?
A
Productivity
B
Land area
C
Rainfall
D
Population
Question 119Single Answer
Irrigation reduces dependence on?
A
Labor
B
Seeds
C
Fertilizer
D
Rainfall
Question 120Single Answer
Which canal irrigation project is in Punjab?
A
Indira Gandhi Canal
B
Sarda Canal
C
Upper Bari Doab Canal
D
Tungabhadra Canal
Question 121Single Answer
Indira Gandhi Canal mainly irrigates which state?
A
Haryana
B
Gujarat
C
Rajasthan
D
Punjab
Question 122Single Answer
Agricultural marketing refers to?
A
Production of crops
B
Sale and distribution of farm products
C
Irrigation management
D
Crop research
Question 123Single Answer
Regulated markets in India are managed by?
A
APMC
B
RBI
C
NABARD
D
ICAR
Question 124Single Answer
Warehousing facilities help farmers by?
A
Increasing taxes
B
Preventing distress sale
C
Reducing production
D
Increasing imports
Question 125Single Answer
Cold storage is mainly used for storing?
A
Steel
B
Perishable commodities
C
Cement
D
Machinery
Question 126Single Answer
Agricultural credit helps farmers to?
A
Increase taxes
B
Reduce labor
C
Stop farming
D
Purchase inputs
Question 127Single Answer
Cooperative credit institutions mainly serve?
A
Exporters
B
Industrialists
C
Farmers
D
Importers
Question 128Single Answer
Regional Rural Banks mainly provide credit to?
A
Rural sector
B
Urban sector
C
Foreign traders
D
Large corporations
Question 129Single Answer
NABARD was established in which year?
A
1970
B
1982
C
1991
D
1965
Question 130Single Answer
NABARD stands for?
A
National Board for Agricultural Research and Development
B
National Bank for Agriculture and Rural Development
C
National Bank for Agro Research and Development
D
National Bureau for Agricultural Reform and Development
Question 131Single Answer
Cottage industries mainly operate at which level?
A
Corporate level
B
National level
C
International level
D
Household level
Question 132Single Answer
Handloom industry belongs to which category?
A
Mining industry
B
Heavy industry
C
Capital goods industry
D
Cottage industry
Question 133Single Answer
Small-scale industries require?
A
Large capital
B
Large land area
C
Huge machinery
D
Small capital investment
Question 134Single Answer
Industrial estates are established to?
A
Promote industrial development
B
Increase imports
C
Control agriculture
D
Reduce exports
Question 135Single Answer
Which institution promotes small industries in India?
A
NABARD
B
RBI
C
SIDBI
D
SEBI
Question 136Single Answer
SIDBI stands for?
A
State Industrial Development Board of India
B
State Industries Development Bank of India
C
Small Industrial Department Bank of India
D
Small Industries Development Bank of India
Question 137Single Answer
Which policy aimed to reduce regional industrial imbalance?
A
Trade policy
B
Fiscal policy
C
Monetary policy
D
Industrial location policy
Question 138Single Answer
Which transport system is most important for foreign trade?
A
Road transport
B
Sea transport
C
Air transport
D
Rail transport
Question 139Single Answer
Export promotion helps in?
A
Increasing unemployment
B
Reducing production
C
Earning foreign exchange
D
Reducing trade
Question 140Single Answer
Import substitution policy was mainly followed until which year?
A
1965
B
1985
C
1975
D
1991
Question 141Single Answer
Economic planning in India aimed at?
A
Only industrial growth
B
Balanced economic development
C
Only agricultural growth
D
Only export promotion
Question 142Single Answer
Which plan emphasized employment generation?
A
Third Plan
B
Fifth Plan
C
Fourth Plan
D
Sixth Plan
Question 143Single Answer
Poverty line in India is determined based on?
A
Consumption expenditure
B
Income tax
C
Export value
D
Industrial output
Question 144Single Answer
Which committee recommended poverty estimation based on consumption?
A
Narasimham Committee
B
Tendulkar Committee
C
Kelkar Committee
D
Rangarajan Committee
Question 145Single Answer
Rural poverty in India is mainly related to?
A
Landlessness
B
High industrialization
C
High exports
D
High technology
Question 146Single Answer
Which scheme aimed to provide food security to poor households?
