| Most Important MCQs on the topic ” Basics of Indian Economy “(Ch-1). These questions are very important for SSC, Railways, Defence, CTET, State PCS, UPSC, Judiciary and all other examinations of India. |
Q. Who is called father of Modern Economics?
(A) Adam Smith
(B) Marshal
(C) Keynes
(D) Robins
Q. Paul Krugaman is a/an______.
(A) Scientist
(B) Sportsman
(C) Banker
(D) Economist
Q. For the existence of a market which is indispensable?
(A) Banks
(B) Economic laws
(C) Prices
(D) Trade unions
Q. Indian Economy is characterised as_______
(A) backward economy
(B) developed economy
(C) developing economy
(D) underdeveloped economy
Q. The Gandhian economy is based on the principle of ________
(A) Competition
(B) Trusteeship
(C) State control
(D) None of the above
Q. Who among the following had propounded the concept of ‘Trusteeship’?
(A) M.N. Roy
(B) Aurobindo Ghosh
(C) Mahatma Gandhi
(D) G.K. Gokhale
Q. Which one of the following is the major feature of the Indian Economy?
(A) A capitalist economy
(B) A socialist economy
(C) A mixed economy
(D) None of the above
Q. Mixed economy in India means _________
(A) Co-existence of large and small scale industries
(B) Foreign collaboration in economic development
(C) Co-existence of public and private sector
(D) None of the above
Q. Which among the following is a characteristic of underdevelopment?
(A) Vicious circle of poverty
(B) Raising mass consumption
(C) Growth of industries
(D) High rate of urbanisation
Q. Economically, one of the results of the British rule in India in the 19th century was the _________
(A) increase in the export of Indian handicrafts
(B) growth in the number of Indian owned factories
(C) commercialisation of Indian agriculture
(D) rapid increase in the urban population
Q. The credit of developing the concept of modern economic growth goes to ______.
(A) Arthur Lewis
(B) Michael P. Todaro
(C) Gunnar Myrdal
(D) Simon Kuznet
Q. ‘Underdeveloped countries are the slums of world economy’ the statement is given by______.
(A) Ragnar Nurkse
(B) A.N. Cairncross
(C) Colin Clark
(D) Jagdish Bhagwati
Q. Assertion (A): The emergence of economic globalism does not imply the decline of socialist ideology.
Reason (R): The ideology of socialism believes in universalism and globalism.
In the context of the given two statements, which of the following is correct?
Code
(A) Both (A) and (R) are true and (R) is the correct explanation of (A)
(B) Both (A) and (R) are true, but (R) is not the correct explanation of (A)
(C) (A) is true, but (R) is false
(D) (A) is false, but (R) is true