Indian Economy - Composition and structure - MCQs with answers
1. The author of the book Poverty and Un British Rule in India isa. R C Dutt
b. W C Banerjee
c. Dadabai Nauroji
d. Keynes
View Answer / Hide AnswerANSWER: c. Dadabai Nauroji
Before independence, many of them tried to provide the national income estimates. One such attempt was this book.
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 AnswerANSWER: d. none
During independence, Indian economy was heavily dependent on the agricultural sector and Development of industrial and services sector was limited.
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 AnswerANSWER: 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.
a. Imports and export activities
b. Bilateral ties
c. Traditional and modern aspects in the economy
d. Both a and b
View Answer / Hide AnswerANSWER: 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.
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 AnswerANSWER: 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
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 AnswerANSWER: 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.
a. Low-income economies
b. Lower-middle income economies
c. Upper-middle income economies
d. High-income economies
View Answer / Hide AnswerANSWER: b. Lower-middle income economies
The World Bank classifies countries on the basis of lending, income and region.
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 AnswerANSWER: b. I, ii and iii
Indian economy is one of the fastest growing economies of the world today. It is a dual economy too.
a. $1000 or below
b. $987 or below
c. $1035 or below
d. $1023 or below
View Answer / Hide AnswerANSWER: c. $1035 or below
According to the World Bank classification, low income economies have $1035 or less than that. There are 36 such countries.
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 AnswerANSWER: b. ii only
Generally, the structure of economy and occupational structure is very similar in developed countries. In India, it is not so.
a. Agriculture, manufacturing, tertiary
b. Agriculture, tertiary, manufacturing
c. Tertiary, manufacturing, agriculture
d. Manufacturing, tertiary, agriculture
View Answer / Hide AnswerANSWER: c. Tertiary, manufacturing, agriculture
Earlier, agricultural sector occupied the greatest share in the GDP but today it is replaced by the services sector.
