Indian Economy - Nature of Indian Economy / Planning

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Question - 1

Who is called the 'Father of Economics'?

  • A Max Muller
  • B Karl Marx
  • C Adam Smith
  • D None of these

Question - 2

The Concept of Five Year Plans in India was introduced

  • A Lord Mountbatten
  • B Jawaharlal Nehru
  • C Indira Gandhi
  • D Lal Bahadur Shastri

Question - 3

India has :

  • A socialistic economy
  • B Gandhian economy
  • C Mixed economy
  • D Free economy

Question - 4

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

Question - 5

Mixed economy means an economy where

  • A both agriculture and industry are along with private sector
  • B there is importance of small scale industries along with heavy industries
  • C economy is controlled by military as well as civilian rulers

Question - 6

India's economic planning CANNOT be said to be :

  • A indicative
  • B limited
  • C democratic
  • D Imperative

Question - 7

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 landholding 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

Question - 8

Which one of the following is the task of the Planning Commission?

  • A Preparation of the plan
  • B Implementation of the plan
  • C Financing of the plan
  • D Both (a) and (b)

Question - 9

Who wrote the book 'Planned Economy for India?

  • A M.Visvesvaraya
  • B Sardar Vallabhbhai Patel
  • C Jawaharlal Nehru
  • D Mahatma Gandhi

Question - 10

'Globalisation 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 economy is :