WorksheetsIndian Economy 1950
Total questions: 95
Worksheet time: 48mins
Tick the correct options
In a capitalist society the goods produced are distributed among people not on the basis of what people need but on the basis of Purchasing Power.
In a socialist society, the government decides what goods are to be produced in accordance with the needs of society.
In a mixed economy, the market will provide whatever goods and services it can produce well, and the government will provide essential goods and services which the market fails to do.
If the economy depends on the market forces of supply and demand, it is called a market economy or capitalism.
Who is regarded as the architect of Indian planning?
MS Swaminathan
Prasanta Chandra Mahalanobis
Fixing the maximum size of land which could be owned by an individual is called?
Land fragmentation
Land ceiling
Land consolidation
Land upgradation
Why did farmers in Soviet Union pack rotten fruits with fresh fruits in the same box?
Farmers were not aware.
Farmers were not trained.
In the absence of ownership. farmers did not have the incentive to be efficient.
Farmers did it purposefully to spoil all fruits.
Tick mark all the requirements to reap the benefits of Green Revolution.
Fertilizers and pesticides
High Yieding Variety seeds
Regular supply of water
Adequate Finance
The portion of agricultural produce which is sold in the market by the farmers is called?
Excess surplus
Marketable surplus
Agricultural produce
Exports
Subsidies do not allow prices to indicate the supply of a good. True/False?
True
False
According to Industrial Policy Resolution, 1956, following industries were part of Schedule A:
Arms and ammunition
Chemical industry
atomic energy
railways
shipbuilding
Under Import substitution trade policy:
Instead of exporting vehicles made in india to foreign countries, industries would be encouraged to import them.
Instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself.
What does HYVP stand for?
A. High Yielding Varieties Products
B.High Yielding Various Programme
C. High Yielding Varieties Programme
D. High Yielding Various Products
What are the years of India’s 12th five-year plan?
A. 1997–2002
B. 2002–2007
C. 2007–2012
D. 2012–2017
The portion of agricultural produce that is sold in the market by farmers is known as ______ .
A. Trade deficit
B. Marketed surplus
C. Subsidy
D. Import substitution
The father of high yielding variety seeds is considered to be Norman Borlaug.
True
False
When was the planning commission set up in India?
A. 5th March 1951
B. 25th April 1950
C. 20th March 1951
D. 15th March 1950
industries were the focus for the second five-year plan.
True
False
In which of the following type of economy are resources owned privately and the main objective behind economic activities is profit-making?
(A) Capitalist
(B) Socialist
(C) Mixed
(D) Global
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
Which of the following steps promoted the growth of the economy as a whole by stimulating the development of industrial and tertiary sectors?
(A) Independence
(B) Planning
(C) Colonial rule
(D) Green revolution
How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?
(A) 17
(B) 21
(C) 15
(D) 2
(a) is the Chairman of the Planning Commission.
Full employment and equitable distribution of income and wealth are the (a) period objectives of planning in India.
Full employment and equitable distribution of income and wealth are the (a) period objectives of planning in India.
(a) were introduced to make tillers the owners of the land and bring about equity in agriculture
Import Substitution policy was introduced to protect (a) from foreign competition.
Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported.
True
False
Under Industrial Policy Resolution (IPR), 1956, Category II of the industrial sector includes industries jointly owned and controlled by the private sector and the state.
True
False
Which of the following statements regarding high yielding variety (HYV) seeds are correct?
i) The use of these seeds requires neither the use of fertilisers nor the pesticides.
ii) Dependence on regular supply of water is eliminated.
iii) In the first phase of the green revolution(mid 1960s upto mid 1970s), the use of HYV seeds primarily benefited the wheat growing regions only while In the second phase (mid-1970s to mid-1980s), the HYV technology benefited more variety of crops.
iv) In the first phase of the green revolution, the use of HYV seeds was restricted to the more affluent states such as Punjab, Andhra Pradesh and Tamil Nadu.
a) i and iii
b) iii and iv
c) i, ii, iii and iv
d) ii, iii and iv
Evaluate the below statements related to land reforms.
i) Just a year after independence, steps were taken to abolish intermediaries and to make the tillers the owners of land.
ii) The purpose of land ceiling was to keep the concentration of land ownership in the hands of a selected few.
Which of the above are correct?
a) Only i
b) Only ii
c) Both i and ii
d) Neither i nor ii
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
The planning commission was setup in (a)
(a) refers to fixing the specified limits of land, which could be owned by an individual.
Land reforms were successful in the following because these states had government committed to the policy of 'land to the tiller'
a) kerala
b) west bengal
c) karnataka
d) both a and b
e) both b and c
Eliminating subsidies will eliminate the goal or equity
true
false
Which of the following is not included in land reforms?
land ceiling
abolition of intermediaries
consolidation of land holdings
use of HYV seeds
Land reforms primarily refer to:
change in the ownership of landholdings
abolition of intermediaries
use of technology in agriculture
fixing the maximum size of land which could be owned by individual
The stagnation in agriculture sector was permanently broken by (a)
The first phase of green revolution spanned approximately between
mid 1950s upto mid 1960s
mid 1960s upto mid 1970s
1980s
1960 - 1970
Due to abolition of intermediaries some (a) lakh tenants came into direct contact with the government
Following was not the risk associated with use of HYV seeds technology
pest attack
excess supply of food grain
widening inequalities between rich and small farmers
rich farmers reaping most of the benefits
NITI Aayog was formed on?
1 January 2014
1 January 2015
1 July 2015
1 July 2014
Full form of NITI Aayog is (a)
on the negative side some (a) % of population was still employed in agriculture sector even as late as 1990
Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported.
True
False
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
Who is known as the father of green revolution in India?
Dr. Varghese Kurian
Dr. M S Swaminathan
Dr. Manmohan Singh
Dr. M S Ahluwalia
The period of the first five year plan was (a)
Which is the characteristics of an underdeveloped economy?
General poverty
Significance of industrial sector
Low growth of population
Use of higher production techniques and skills
Economic growth can be measured by
The CPI
The CBI
GDP
MPC
Optimum Population is that ideal population which provides......
Minimum Income per head
Maximum Income per head
Average Income per head
None of the above
What change should be in Indian economy to get development?
Human Development Index is not related to......
Life Expectancy
Per Capita Income
Gross Domestic Product
Education
It is a conscious design to shape the socio-economic processes in order to achieve an objective
Economic planning
Economic development
Economic growth
Economic infrastructure
What type of economy is followed in India?
Communist
Capitalist
Mixed Socialist
None of these
Which is the primary objective of economic planning in India?
Reducing Inequalities of income
Abolition of poverty
Growth with social justice
Removing unemployment
Who presented the 1st 5-year plan of the country?
Pt. Jawahar Lal Nehru
Sardar Ballabh Patel
Dr. Rajendra Prasad
None of these
The Industrial Policy Resolution was adopted in --------------
1954
1958
1956
1952
Self reliance means
Avoiding imports
Produce goods in India which are imported from abroad
Export promotion
None of these
Tariffs and quotas adopted under industrial policy was to -----
increase export
make exported goods cheaper
increase foreign competition
restrict imports and protect domestic firms from foreign competition
Equity in agriculture called for (a) , which primarily refer to change in the ownership of land holdings.
A good indicator of (a) is steady increase in Gross Domestic Product.
Which of the following is not included in land reforms?
use of high yielding variety of seeds
abolition of intermediaries
the change in ownership of landholdings
land ceiling
___________ refers to an arrangement by which central problems of an economy are solved.
Economic System
Mixed Economy
Modernisation
Socialist economy
(a) implies use of advanced technology .
The central problems of an economy are :
What to produce
how to produce
For whom to produce
All of these
'Abolition of Intermediaries ' and 'Land Ceiling" are part of :
(a) Industrial reforms in India
(b) External sector reforms in India
(c) Land reforms in India
(d) Banking Reforms in India
Schedule _________ comprise of industries which would be exclusively owned by the state :
A
B
C
None
What is the year of India’s 12th 5-year plan?
2012 – 2017
2007-2017
1951-1056
2002-2007
Inward looking trade strategy is also known as policy of……….
import relaxation
import substitution
import promotion
none of these
The economic justification of subsidies in agriculture is, at present, a hotly debated question. Consider the following statements related to this.
1. A substantial amount of fertiliser subsidy also benefits the fertiliser industry, not only farmers.
2. The subsidy largely benefits the farmers in the more prosperous regions.
3. Most farmers in India are very poor and they will not be able to afford the required inputs without subsidies.
Select the correct statements using codes below
1 and 2
1 and 3
2 and 3
all of these
What were the focus points of 2nd five-year plan?
Agriculture
Industry
service
none of these
The planning commission was set up in which year in India?
5th March 1951
25th April 1951
20th April 1951
15th March 1950
Match the following:
1. Marketed surplus A. Large increase in production of food grains resulting from the use of high yielding variety seeds especially for wheat and rice.
2. Green Revolution B. Portion of agricultural produce which is sold in the market by the farmers.
3. HYV Seeds C. Seeds that give large proportion of output
4. Land Reforms D. Improvements in the field of agriculture to increase its productivity
Which of the above are not matched correctly?
1 and 2
1,2 and 4
2 and 4
3 and 4
What was the share of Service Sector to GDP, in India on 1950-51 and 1990-91?
50%
28 %
40%
80%
In 1950, a small-scale industrial unit was one which invested a maximum of (a) lakh, while at present the maximum investment allowed is one crore.
Land reforms were successful in the following because these states had government committed to the policy of 'land to the tiller'
a) kerala
b) west bengal
c) karnataka
d) both a and b
e) both b and c
Which of the following is not included in land reforms?
land ceiling
abolition of intermediaries
consolidation of land holdings
use of HYV seeds
Due to abolition of intermediaries some (a) lakh tenants came into direct contact with the government
NITI Aayog was formed on?
1 January 2014
1 January 2015
1 July 2015
1 July 2014
Full form of NITI Aayog is (a)
Which was the last Five years plan in India
Eleventh plan
Twelfth plan
Thirteenth Plan
Fourteenth Plan
Which of the following is not a long period objective of planning in India?
GDP growth
Full employment
Better quality of life
Equitable distribution
In the industrial Policy Resolution 1956, (a) industries were reserved for public Sector.
In the industrial Policy Resolution 1956, (a) industries were reserved for public Sector.
(a) distribution occurs when the distribution of Income is in accordance with the ability and efficiency of the people.
A (a) economy is the one in which there is private as well as public ownership of the means of production.
(a) is achieved when there is increase in real GDP over a period of time.
There were two annual plan after (a) five year plan.
Prior to 1991 was that more important was given to (a) Sector.
Third Five Year Plan was launched in (a) .
The period of Eight Five Year Plan was (a) .
Planning Commission, the erstwhile central planning authority in the country, has been replaced by:-
National Institution for Transforming India (NITI) Aayog.
Finance Commission
Central Statistical Commission.
Central Statistical Organization
Name the long-term objectives of planning in India.
G_____, M__________, S________, E_________
(a)
Which of the following sector contributes highest to India's National Income?
Service Sector
Agriculture Sector
Secondary Sector
Foreign Trade
What do you mean by Quotas?
The quantity of goods which can be exported
The quantity of goods which can be Imported
Both (a) and ((b)
None of these
