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Indian Economy 1950 - 1990

Total questions: 121

Worksheet time: 1hrs 6mins

Name
Class
Date
1.

Tick the correct options

a)

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.

b)

In a socialist society, the government decides what goods are to be produced in accordance with the needs of society.

c)

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.

d)

If the economy depends on the market forces of supply and demand, it is called a market economy or capitalism.

2.

Perspective plan is a

a)

short term plan

b)

long term plan

3.

Who is regarded as the architect of Indian planning?

a)

MS Swaminathan

b)

Prasanta Chandra Mahalanobis

4.

Fixing the maximum size of land which could be owned by an individual is called?

a)

Land fragmentation

b)

Land ceiling

c)

Land consolidation

d)

Land upgradation

5.

Why did farmers in Soviet Union pack rotten fruits with fresh fruits in the same box?

a)

Farmers were not aware.

b)

Farmers were not trained.

c)

In the absence of ownership. farmers did not have the incentive to be efficient.

d)

Farmers did it purposefully to spoil all fruits.

6.

Tick mark all the requirements to reap the benefits of Green Revolution.

a)

Fertilizers and pesticides

b)

High Yieding Variety seeds

c)

Regular supply of water

d)

Adequate Finance

7.

The portion of agricultural produce which is sold in the market by the farmers is called?

a)

Excess surplus

b)

Marketable surplus

c)

Agricultural produce

d)

Exports

8.

Subsidies do not allow prices to indicate the supply of a good. True/False?

a)

True

b)

False

9.

According to Industrial Policy Resolution, 1956, following industries were part of Schedule A:

a)

Arms and ammunition

b)

Chemical industry

c)

atomic energy

d)

railways

e)

shipbuilding

10.

Under Import substitution trade policy:

a)

Instead of exporting vehicles made in india to foreign countries, industries would be encouraged to import them.

b)

Instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself.

11.

What does HYVP stand for?

a)

A. High Yielding Varieties Products

b)

B.High Yielding Various Programme

c)

C. High Yielding Varieties Programme

d)

D. High Yielding Various Products

12.

What are the years of India’s 12th five-year plan?

a)

A. 1997–2002

b)

B. 2002–2007

c)

C. 2007–2012

d)

D. 2012–2017

13.

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

a)

A. Trade deficit

b)

B. Marketed surplus

c)

C. Subsidy

d)

D. Import substitution

14.

The father of high yielding variety seeds is considered to be Norman Borlaug.

a)

True

b)

False

15.

When was the planning commission set up in India?

a)

A. 5th March 1951

b)

B. 25th April 1950

c)

C. 20th March 1951

d)

D. 15th March 1950

16.

industries were the focus for the second five-year plan.

a)

True

b)

False

17.

In which of the following type of economy are resources owned privately and the main objective behind economic activities is profit-making?

a)

(A) Capitalist

b)

(B) Socialist

c)

(C) Mixed

d)

(D) Global

18.

What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.?

a)

(A) Multiple cropping

b)

(B) Green revolution

c)

(C) Crop insurance

d)

(D) HYV

19.

Which of the following steps promoted the growth of the economy as a whole by stimulating the development of industrial and tertiary sectors?

a)

(A) Independence

b)

(B) Planning

c)

(C) Colonial rule

d)

(D) Green revolution

20.

How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?

a)

(A) 17

b)

(B) 21

c)

(C) 15

d)

(D) 2

21.

(a)   is the Chairman of the Planning Commission.

22.

Full employment and equitable distribution of income and wealth are the (a)   period objectives of planning in India.

23.

Full employment and equitable distribution of income and wealth are the (a)   period objectives of planning in India.

24.

(a)   were introduced to make tillers the owners of the land and bring about equity in agriculture

25.

Import Substitution policy was introduced to protect (a)   from foreign competition.

26.

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.

a)

True

b)

False

27.

Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported.

a)

True

b)

False

28.

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)

a) i and iii

b)

b) iii and iv

c)

c) i, ii, iii and iv

d)

d) ii, iii and iv

29.

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)

a) Only i

b)

b) Only ii

c)

c) Both i and ii

d)

d) Neither i nor ii

30.

Legally stipulated maximum size beyond which no individual farmer can hold any land

a)

A. Tenancy reforms

b)

B. Abolition of intermediaries

c)

C. Land consolidation

d)

D. Land Ceiling

31.

Tick the correct options

a)

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.

b)

In a socialist society, the government decides what goods are to be produced in accordance with the needs of society.

c)

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.

d)

If the economy depends on the market forces of supply and demand, it is called a market economy or capitalism.

32.

Perspective plan is a

a)

short term plan

b)

long term plan

33.

Who is regarded as the architect of Indian planning?

a)

MS Swaminathan

b)

Prasanta Chandra Mahalanobis

34.

Fixing the maximum size of land which could be owned by an individual is called?

a)

Land fragmentation

b)

Land ceiling

c)

Land consolidation

d)

Land upgradation

35.

Why did farmers in Soviet Union pack rotten fruits with fresh fruits in the same box?

a)

Farmers were not aware.

b)

Farmers were not trained.

c)

In the absence of ownership. farmers did not have the incentive to be efficient.

d)

Farmers did it purposefully to spoil all fruits.

36.

Tick mark all the requirements to reap the benefits of Green Revolution.

a)

Fertilizers and pesticides

b)

High Yieding Variety seeds

c)

Regular supply of water

d)

Adequate Finance

37.

The portion of agricultural produce which is sold in the market by the farmers is called?

a)

Excess surplus

b)

Marketable surplus

c)

Agricultural produce

d)

Exports

38.

Subsidies do not allow prices to indicate the supply of a good. True/False?

a)

True

b)

False

39.

According to Industrial Policy Resolution, 1956, following industries were part of Schedule A:

a)

Arms and ammunition

b)

Chemical industry

c)

atomic energy

d)

railways

e)

shipbuilding

40.

Under Import substitution trade policy:

a)

Instead of exporting vehicles made in india to foreign countries, industries would be encouraged to import them.

b)

Instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself.

41.

What does HYVP stand for?

a)

A. High Yielding Varieties Products

b)

B.High Yielding Various Programme

c)

C. High Yielding Varieties Programme

d)

D. High Yielding Various Products

42.

What are the years of India’s 12th five-year plan?

a)

A. 1997–2002

b)

B. 2002–2007

c)

C. 2007–2012

d)

D. 2012–2017

43.

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

a)

A. Trade deficit

b)

B. Marketed surplus

c)

C. Subsidy

d)

D. Import substitution

44.

The father of high yielding variety seeds is considered to be Norman Borlaug.

a)

True

b)

False

45.

When was the planning commission set up in India?

a)

A. 5th March 1951

b)

B. 25th April 1950

c)

C. 20th March 1951

d)

D. 15th March 1950

46.

industries were the focus for the second five-year plan.

a)

True

b)

False

47.

In which of the following type of economy are resources owned privately and the main objective behind economic activities is profit-making?

a)

(A) Capitalist

b)

(B) Socialist

c)

(C) Mixed

d)

(D) Global

48.

What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.?

a)

(A) Multiple cropping

b)

(B) Green revolution

c)

(C) Crop insurance

d)

(D) HYV

49.

Which of the following steps promoted the growth of the economy as a whole by stimulating the development of industrial and tertiary sectors?

a)

(A) Independence

b)

(B) Planning

c)

(C) Colonial rule

d)

(D) Green revolution

50.

How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?

a)

(A) 17

b)

(B) 21

c)

(C) 15

d)

(D) 2

51.

(a)   is the Chairman of the Planning Commission.

52.

Full employment and equitable distribution of income and wealth are the (a)   period objectives of planning in India.

53.

Full employment and equitable distribution of income and wealth are the (a)   period objectives of planning in India.

54.

(a)   were introduced to make tillers the owners of the land and bring about equity in agriculture

55.

Import Substitution policy was introduced to protect (a)   from foreign competition.

56.

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.

a)

True

b)

False

57.

Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported.

a)

True

b)

False

58.

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)

a) i and iii

b)

b) iii and iv

c)

c) i, ii, iii and iv

d)

d) ii, iii and iv

59.

Land reforms were successful in the following because these states had government committed to the policy of 'land to the tiller'

a)

a) kerala

b)

b) west bengal

c)

c) karnataka

d)

d) both a and b

e)

e) both b and c

60.

Eliminating subsidies will eliminate the goal or equity

a)

true

b)

false

61.

Which of the following is not included in land reforms?

a)

land ceiling

b)

abolition of intermediaries

c)

consolidation of land holdings

d)

use of HYV seeds

62.

___________ refers to an arrangement by which central problems of an economy are solved.

a)

Economic System

b)

Mixed Economy

c)

Modernisation

d)

Socialist economy

63.

(a)   implies use of advanced technology .

64.

The central problems of an economy are :

a)

What to produce

b)

how to produce

c)

For whom to produce

d)

All of these

65.

When was the planning commission set up ?

a)

(a) 1949

b)

(b) 1950

c)

(c) 1956

d)

(d) 1850

66.

In 1955 , karve committee was constituted for aiming the (a)  

67.

Long term Goals of five year planning are :

a)

Growth

b)

Equity

c)

Land Reforms

d)

Modernisation

68.

'Abolition of Intermediaries ' and 'Land Ceiling" are part of :

a)

(a) Industrial reforms in India

b)

(b) External sector reforms in India

c)

(c) Land reforms in India

d)

(d) Banking Reforms in India

69.

The portion of agricultural produce which is sold in the market by the farmers is known as,

a)

Trade deficit

b)

Marketed surplus

c)

Subsidy

d)

Import substitution

70.

Who presented the 1st 5-year plan of the country?

a)

Pandit Jawaharlal Nehru

b)

B R Ambedkar

c)

Sardar Ballav Bhai Patel

d)

Mahatma Gandhi

71.

Who is the chairman of the planning commission in India?

a)

prime minister

b)

president

c)

chief minister

d)

governor

72.

Inward looking trade strategy is also known as policy of……….

a)

import relaxation

b)

import substitution

c)

import promotion

d)

none of these

73.

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

a)

1 and 2

b)

1 and 3

c)

2 and 3

d)

all of these

74.

What were the focus points of 2nd five-year plan?

a)

Agriculture

b)

Industry

c)

service

d)

none of these

75.

The planning commission was set up in which year in India?

a)

5th March 1951

b)

25th April 1951

c)

20th April 1951

d)

15th March 1950

76.

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?

a)

1 and 2

b)

1,2 and 4

c)

2 and 4

d)

3 and 4

77.

Who is the father of Green Revolution?

a)

Dr Norman Borlau

b)

Dr M.S.Swaminathan

c)

Dr A.P,J Abdul Kalam

d)

Mrs Indira Gandhi

78.

Who is the Architect of Indian Planning?

a)

Prasanta Chandra Mahalanobis,

b)

V K V RAO

c)

Dr B R Ambedkar

d)

Mahamta Gandhi

79.

When did Industrial policy resolution take place in India?

a)

1957

b)

1948

c)

1954

d)

1956

80.

(a)   refers to fixing the maximum limit on the imports of a commodity by a domestic producer.

81.

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.

82.

___________ refers to an arrangement by which central problems of an economy are solved.

a)

Economic System

b)

Mixed Economy

c)

Modernisation

d)

Socialist economy

83.

(a)   implies use of advanced technology .

84.

The central problems of an economy are :

a)

What to produce

b)

how to produce

c)

For whom to produce

d)

All of these

85.

When was the planning commission set up ?

a)

(a) 1949

b)

(b) 1950

c)

(c) 1956

d)

(d) 1850

86.

In 1955 , karve committee was constituted for aiming the (a)  

87.

Long term Goals of five year planning are :

a)

Growth

b)

Equity

c)

Land Reforms

d)

Modernisation

88.

'Abolition of Intermediaries ' and 'Land Ceiling" are part of :

a)

(a) Industrial reforms in India

b)

(b) External sector reforms in India

c)

(c) Land reforms in India

d)

(d) Banking Reforms in India

89.

Schedule _________ comprise of industries which would be exclusively owned by the state :

a)

A

b)

B

c)

C

d)

None

90.

What is the year of India’s 12th 5-year plan?

a)

2012 – 2017

b)

2007-2017

c)

1951-1056

d)

2002-2007

91.

The portion of agricultural produce which is sold in the market by the farmers is known as,

a)

Trade deficit

b)

Marketed surplus

c)

Subsidy

d)

Import substitution

92.

Who presented the 1st 5-year plan of the country?

a)

Pandit Jawaharlal Nehru

b)

B R Ambedkar

c)

Sardar Ballav Bhai Patel

d)

Mahatma Gandhi

93.

Who is the chairman of the planning commission in India?

a)

prime minister

b)

president

c)

chief minister

d)

governor

94.

Inward looking trade strategy is also known as policy of……….

a)

import relaxation

b)

import substitution

c)

import promotion

d)

none of these

95.

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

a)

1 and 2

b)

1 and 3

c)

2 and 3

d)

all of these

96.

What were the focus points of 2nd five-year plan?

a)

Agriculture

b)

Industry

c)

service

d)

none of these

97.

The planning commission was set up in which year in India?

a)

5th March 1951

b)

25th April 1951

c)

20th April 1951

d)

15th March 1950

98.

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?

a)

1 and 2

b)

1,2 and 4

c)

2 and 4

d)

3 and 4

99.

Who is the father of Green Revolution?

a)

Dr Norman Borlau

b)

Dr M.S.Swaminathan

c)

Dr A.P,J Abdul Kalam

d)

Mrs Indira Gandhi

100.

Who is the Architect of Indian Planning?

a)

Prasanta Chandra Mahalanobis,

b)

V K V RAO

c)

Dr B R Ambedkar

d)

Mahamta Gandhi

101.

What was the share of Service Sector to GDP, in India on 1950-51 and 1990-91?

a)

50%

b)

28 %

c)

40%

d)

80%

102.

When did Industrial policy resolution take place in India?

a)

1957

b)

1948

c)

1954

d)

1956

103.

(a)   refers to fixing the maximum limit on the imports of a commodity by a domestic producer.

104.

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.

105.

Land reforms were successful in the following because these states had government committed to the policy of 'land to the tiller'

a)

a) kerala

b)

b) west bengal

c)

c) karnataka

d)

d) both a and b

e)

e) both b and c

106.

Which of the following is not included in land reforms?

a)

land ceiling

b)

abolition of intermediaries

c)

consolidation of land holdings

d)

use of HYV seeds

107.

The first phase of green revolution spanned approximately between

a)

mid 1950s upto mid 1960s

b)

mid 1960s upto mid 1970s

c)

1980s

d)

1960 - 1970

108.

Due to abolition of intermediaries some (a)   lakh tenants came into direct contact with the government

109.

NITI Aayog was formed on?

a)

1 January 2014

b)

1 January 2015

c)

1 July 2015

d)

1 July 2014

110.

Full form of NITI Aayog is (a)  

111.

(a)   refers to taxes levied on imported goods.

112.

What does HYVP stand for?

a)

A. High Yielding Varieties Products

b)

B.High Yielding Various Programme

c)

C. High Yielding Varieties Programme

d)

D. High Yielding Various Products

113.

What are the years of India’s 12th five-year plan?

a)

A. 1997–2002

b)

B. 2002–2007

c)

C. 2007–2012

d)

D. 2012–2017

114.

How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?

a)

(A) 17

b)

(B) 21

c)

(C) 15

d)

(D) 2

115.

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.

a)

True

b)

False

116.

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)

a) i and iii

b)

b) iii and iv

c)

c) i, ii, iii and iv

d)

d) ii, iii and iv

117.

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)

a) Only i

b)

b) Only ii

c)

c) Both i and ii

d)

d) Neither i nor ii

118.

Legally stipulated maximum size beyond which no individual farmer can hold any land

a)

A. Tenancy reforms

b)

B. Abolition of intermediaries

c)

C. Land consolidation

d)

D. Land Ceiling

119.

Perspective plan is a

a)

short term plan

b)

long term plan

120.

The portion of agricultural produce which is sold in the market by the farmers is called?

a)

Excess surplus

b)

Marketable surplus

c)

Agricultural produce

d)

Exports

121.

Under Import substitution trade policy:

a)

Instead of exporting vehicles made in india to foreign countries, industries would be encouraged to import them.

b)

Instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself.

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