Indian Economy 1990

Which of the following is not considered as central problem of an economy?

• What to produce?

• Why to produce?

• How to produce?

• For whom to produce?

In which economic system, goods are produced mainly to earn profit?

• Capitalist

• Socialist

• Mixed

• None of the above

Which of the following is not considered as a goal of five year plan?

• Growth

• Equality

• Modernisation

• Self-reliance

Answer explanation

Growth

Modernization

Self Reliance

Equity

What is perspective planning also known as?

• Short term planning

• Long term planning

• Five year plan

• Seven year plan

Answer explanation

Perspective planning is also known as Strategic Planning or Long-term Planning. A Perspective Plan is a long term (20-25 years) written document supported by necessary maps and diagrams providing the state government the goals, policies, strategies and general programs of the urban local authority regarding spatial-economic development of the settlement under its governance.

Planning involves some general goals to be fulfilled by the government where it does not take available resources into account.

• True

• False

Answer explanation

A plan spells out how the resources of a nation should be put touse. It should have some general goals as well as specific objectives to be achieved within a specified period of time

From where the concept of five-year plans has been borrowed?

• U.S.A

• U.S.S.R

• Great Britain

• France

Answer explanation

The concept of economic planning attracted the attention of most of developing countries since it's first experiment made by then soviet union in 1928. Since then it was adopted by number of countries in various forms.

Post Independence, the Agriculture sector strived to fulfill the goal of ______.

• Equity

• Self-reliance

• Modernisation

• All of the above

Answer explanation

Equity was fulfilled by land distribution and ownership

Self-reliance was accomplished by producing sufficient quantities of goods for both domestic consumption and commercial trade

Modernization related to technological advancement like bringing HYV seeds.

What does HYV programme stand for?

• High Yielding Variety

• Huge Yielding Variety

• High Yielding Vegetable

• Huge Yielding Vegetable

Answer explanation

It is expanded as a high-yield variety. These are referred to as high-quality crops. Such quality seeds are produced by crossing high-yielding crops having superior seed-producing capability.

The portion of agricultural produce that is sold in the market by farmers is known as ______ .

• Trade deficit

• Marketable surplus

• Subsidy

• Import substitution

When was the planning commission set up in India?

• 1949

• 1950

• 1951

• 1952